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BoE freezes rate, rules out cuts any time soon
BoE freezes rate, rules out cuts any time soon
Business and Economy
by  AFP

The Bank of England on Thursday held its key interest rate at 5.25 percent, a day after the Federal Reserve also froze borrowing costs as global inflation retreats. On Wednesday, the Federal Reserve left US interest rates at a 22-year high for a second straight meeting as it moved to slow stubbornly-high inflation without damaging a robust US economy.

Political and tech leaders tackle AI safety at inaugural summit
Political and tech leaders tackle AI safety at inaugural summit
Technology
by  AFP

UK Prime Minister Rishi Sunak on Thursday hosts political and tech leaders at the inaugural global AI safety summit, predicting the technology will radically alter society for generations to come. UK technology minister Michelle Donelan told AFP on Wednesday that the summit "isn't designed to produce a blueprint for global legislation".

Anti-obesity drugs fatten Novo Nordisk profits
Anti-obesity drugs fatten Novo Nordisk profits
Business and Economy
by  AFP

Danish drugmaker Novo Nordisk reported Thursday a sharp rise in third quarter sales and profits driven by the success of its anti-diabetes and anti-obesity treatments Ozempic and Wegovy. In its quarterly report, Novo Nordisk maintained its annual outlook of an increase in annual operating profit of between 40 and 46 percent on a rise in sales of between 32 and 38 percent. cbw/jll/rl