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EU fines Meta $840 million for 'abusive' Facebook ad practices

The EU fined online giant Meta almost 800 million euros on Thursday for breaching antitrust rules by giving users of its Facebook social network automatic access to classified ads service Facebook Marketplace.

Iran tells UN nuclear chief willing to resolve 'ambiguities'

Iranian President Masoud Pezeshkian told the visiting head of the UN nuclear watchdog on Thursday that his government was willing to resolve doubts about its atomic programme, ahead of US President-elect Donald Trump's arrival in office.

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UN General Assembly to address AI's potential risks, rewards

The UN General Assembly will turn its attention to artificial intelligence on Thursday, weighing a resolution that lays out the potentially transformational technology's pros and cons while calling for the establishment of international standards.

Asian stocks track Wall St record after Fed keeps rate projection

Asian markets rallied Thursday after Wall Street's record-breaking day as traders welcomed news that the Federal Reserve still saw three interest rate cuts this year even after recent data pointed to a bounce in inflation.

Social media company Reddit set for NYSE debut after IPO

The Reddit social network was set to make its trading debut Thursday after pricing robustly in an initial public offering that suggested greater investor enthusiasm for new stock issuers.

Global fertility rate to keep plummeting, major study warns

The population of almost every country will be shrinking by the end of the century, a major study said Wednesday, warning that baby booms in developing nations and busts in rich ones will drive massive social change.

Hermes faces US lawsuit over 'refusal' to sell Birkin bag

Fashionistas desperate to get their hands on an exclusive Birkin handbag are suing Hermes in California on grounds the company won't sell them one unless they buy other luxury products first.

US indices hit records as Fed confirms plan for 2024 rate cuts

cMajor Wall Street indices surged to fresh records Wednesday after the Federal Reserve reaffirmed plans for interest rate cuts in the coming months, cheering investors who had feared a retreat.

Gucci owner Kering's shares suffer historic fall after sales warning

Gucci owner Kering had its worst ever day on the Paris stock market Wednesday after it warned that it was expecting a sharp drop in sales in the first quarter.

US Fed holds key rate, pencils in 3 cuts this year

The US Federal Reserve voted Wednesday to hold interest rates at a 23-year high for a fifth consecutive meeting, while signaling it still expects to make three cuts this year.

Stock markets in holding pattern before Fed announcement lands

Stock markets barely budged Wednesday as traders awaited the outcome of the US Federal Reserve's interest rate meeting.

No oil and gas majors aligned with climate targets: report

All major oil and gas companies plan fossil fuel expansion incompatible with limiting warming to 1.5 degrees Celsius, a new report said Wednesday.

Paris Opera faces questions over lack of women, Russian conductor

The Paris Opera faced questions Wednesday over its new programme, which includes only one woman among its directors and choreographers, and the inclusion of a conductor with ties to the Russian state.

Stock markets hold largely steady before Fed rate meeting

Stock markets were mostly in wait-and-see mode Wednesday as traders awaited the outcome of the US Federal Reserve's interest-rate meeting.

Gucci owner Kering's shares head toward historic fall

Gucci owner Kering headed toward its worst day ever on the Paris stock market on Wednesday after it warned that it was expecting a sharp drop in sales in the first quarter.

Argentina's battered middle class shrinking under Milei

Argentina's middle class is vanishing: with austerity cuts introduced by self-proclaimed "anarcho-capitalist" President Javier Milei, ever more people cannot afford schooling or medicine, even those holding down two jobs.

Stock markets turn hesitant before Fed, yen softens

European equity markets mostly fell Wednesday despite a bright Asian performance and fresh Wall Street records as anxious traders awaited the outcome of the Federal Reserve's interest-rate meeting.

Google hit with 250-mn-euro French fine in news copyright fight

French regulators said Wednesday they were fining Google 250 million euros ($272 million) for breaching commitments on paying media companies for reproducing their content online and for using their material for its AI chatbot without telling them.

EU agrees new caps on duty-free Ukraine farm imports

EU member states and lawmakers on Wednesday reached a deal to cap duty-free imports of a range of Ukrainian farm goods, which were allowed in the wake of Russia's invasion but have drawn fierce protests from farmers in the bloc.

Polish farmers block roads to protest Ukraine imports

Polish farmers on Wednesday staged tractor blockades on roads nationwide in their latest protest against farm imports from outside the European Union and the bloc's environmental red tape.

Russian rescuers scramble to save 13 trapped under gold mine

Russian rescuers were scrambling to save 13 workers trapped inside a giant gold mine near the Chinese border for a second day on Wednesday, as officials warned of a "difficult situation".

Chinese internet giant Tencent posts lowest annual profit since 2019

Chinese internet giant Tencent on Wednesday posted its lowest annual profit since 2019, despite slight improvements recently in China's economy and a more lenient attitude taken by regulators towards the tech sector.

UK inflation slows to lowest level in almost 2.5 years

Britain's annual inflation rate fell more than expected in February, official data showed Wednesday, fuelling speculation that the Bank of England will start cutting interest rates in the coming months.

Apple CEO in China ahead of Shanghai store opening

Apple CEO Tim Cook was on a China charm offensive Wednesday ahead of a new flagship Shanghai store opening, weeks after a report suggested the company's sales in the country slumped at the start of 2024.

Most Asian markets rise as Fed decision looms, yen softens

Asian markets mostly rose Wednesday as traders tracked another record day on Wall Street ahead of the Federal Reserve's policy meeting, while the yen further weakened a day after Japan's rare interest rate hike.

Photographer Annie Leibovitz: 'AI doesn't worry me at all'

Photographer to the stars Annie Leibovitz, inducted into the French Academy of Fine Arts on Wednesday, told AFP that AI was not a threat to her trade -- just another artistic tool.

Contentious Texas immigration law back on hold

A Texas law that would allow state police to arrest and deport migrants who cross illegally into the United States from Mexico was again placed on hold late Tuesday, the latest in an ongoing legal back-and-forth over its fate.

Asian markets mostly up with Wall St as Fed decision looms

Asian markets mostly rose Wednesday as traders tracked another record day on Wall Street, with focus squarely on the Federal Reserve's policy meeting.

Crisis-hit Playmobil eyes a Swift boost as it turns 50

As Playmobil turns 50, the German company behind the popular plastic figures is hoping that pop megastar Taylor Swift can help it shake off a slump in fortunes.

Australia hosts China FM, sees 'stability' in ties

China and Australia claimed to have stabilised long-strained relations after talks in Canberra on Wednesday, despite tensions over a high-profile prisoner, trade and China's crackdowns in Hong Kong and elsewhere remaining evident.

Asian markets swing as traders await Fed policy decision

Asian markets fluctuated Wednesday as traders struggled to track another record day on Wall Street, with focus squarely on the Federal Reserve's policy meeting.

El Salvador's 'Bitcoin Beach' cheers cryptocurrency surge

In a surf town in El Salvador nicknamed "Bitcoin Beach," shopkeeper Maria Aguirre watched with delight as the cryptocurrency -- and her investment in it -- recently soared to new all-time highs.

Finland is world's happiest country for seventh year: study

Finland remained the world's happiest country for a seventh straight year in an annual UN sponsored World Happiness Report published on Wednesday.

Microsoft hires DeepMind co-founder to lead AI unit

DeepMind co-founder Mustafa Suleyman will become the head of a newly created consumer AI unit at Microsoft, the scientist and entrepreneur said on Tuesday.

Global shares higher as Fed begins meeting and Japan hikes rates

US and European shares inched higher Tuesday as the US Federal Reserve began a policy making meeting and Japan raised interest rates for the first time in 17 years.

Renault CEO urges 'Marshall Plan' for Europe electric vehicles

The chief executive of French automaker Renault called Tuesday for a European "Marshall Plan" to accelerate the adoption of electric vehicles and reduce carbon emissions in the face of Chinese competition.

France faces high-risk vote on EU-Canada free trade deal

The French government on Thursday faces a risky vote on a controversial trade deal between the EU and Canada in the Senate where an unlikely alliance between left and right hopes to torpedo the pact.

Yen falls as Japan hikes rates but stocks mixed ahead of Fed

The yen fell and Japanese stocks rose Tuesday after the Bank of Japan raised interest rates, but shares were mixed elsewhere as investors awaited further signals from other central banks.

US Fed kicks off rate meeting with timing of cuts up for discussion

The US Federal Reserve began two days of discussions on Tuesday at which policymakers are expected to hold firm on interest rates, and continue discussions about when to start cutting them.

Yen drops, stocks mixed as Japan hikes rates at last

The yen weakened and Tokyo stocks rose Tuesday after the Bank of Japan hiked interest rates for the first time in 17 years owing to elevated inflation.

Acerbi facing federation probe over alleged racist comments

The Italian Football Federation (FIGC) announced on Tuesday that it had opened an investigation into racist insults allegedly made by Inter Milan defender Francesco Acerbi.

The Fort Worth Press - Economy (English)