Bombay Durpun - Economy

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Netflix to buy Warner Bros. in deal of the decade

Streaming giant Netflix said Friday it will buy film and television studio Warner Bros. Discovery for nearly $83 billion, the entertainment industry's biggest consolidation deal this decade.

Fresh data show US consumers still strained by inflation

US consumer pricing and sentiment reports released Friday pointed to lingering questions about affordability as the calendar moves towards the peak of the festive season.

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Rebel octogenarian Austrian nuns win reprieve

Three rebel nuns in their 80s who made headlines after fleeing their care home to take back their Austrian convent are being allowed to stay in the nunnery "until further notice", church officials said Friday.

Markets muted in thin trade, hit by data centre glitch

Stock markets were little changed Friday, capping a solid week driven by expectations of more US rate cuts, with trading thinned by the Thanksgiving holiday and a data centre outage.

Most Asian markets build on week's rally

Most markets squeezed out gains Friday at the end of a strong week for equities fuelled by growing expectations that the Federal Reserve will cut interest rates again next month.

Court clears South Korean worker of stealing 73-cent snacks

A worker accused of "stealing" snacks worth less than a dollar in South Korea has finally been acquitted after a legal battle lasting nearly two years.

China says humanoid robot buzz carries bubble risk

More than 150 Chinese companies are making humanoid robots but a market bubble risks forming in the rapidly growing futuristic industry, a Beijing official has warned.

Trump says Venezuela anti-drug operations 'by land' to begin 'soon'

US President Donald Trump said Thursday that efforts to halt Venezuelan drug trafficking "by land" would begin "very soon," further ratcheting up tensions with Caracas, which claims the anti-drug campaign aims at regime change.

In blow to Lula, Brazil Congress revives controversial environmental bill

Brazil's conservative-led Congress on Thursday reinstated much of a bill that makes it easier for companies to secure environmental permits, infuriating the leftist government and green groups.

Europe secures record space budget to boost independence

The European Space Agency announced Thursday it had secured a record budget of 22.1 billion euros to fund its programmes for the next three years, as the continent seeks greater independence in space.

Venezuela foreign airline ban slammed as 'disproportionate'

Venezuela's decision to ban foreign airlines that stopped flying to the Caribbean country over concerns about US military activity was branded "disproportionate" on Thursday as thousands of passengers scrambled to save their travel plans.

Singapore AI teddy back on sale after recall over sex chat scare

A plushy, AI-enabled teddy bear recalled after its chatbot was found to engage in sexually explicit conversations and offer instructions on where to find knives is again for sale, AFP found.

European stocks steady as US shuts for Thanksgiving

European stock markets steadied Thursday after solid gains in Asia, as markets increasingly expect the US Federal Reserve to cut interest rates next month.

Wildlife trade body rejects new eel protections

The world's top wildlife trade body rejected new protections for eels on Thursday in a secret ballot at talks in Uzbekistan.

Most Asian markets track latest Wall St rally as rate bets rise

Most Asian markets rose Thursday to extend the week's global rally as traders ramp up bets on a third successive US interest rate cut next month.

Asian stocks track latest Wall St rally as rate bets rise

Asian markets rose again Thursday to extend the week's global rally as traders ramp up bets on a third successive US interest rate cut next month.

Japan beer giant Asahi delays earnings due to cyberattack

Japanese beer giant Asahi said Thursday it has delayed the release of full-year financial results due to a major ongoing cyberattack that began in late September.

US stocks rise for 3rd straight day while British pound advances

Global stocks mostly rose Wednesday, with Wall Street equities gaining on hopes of lower interest rates, while the British pound advanced on the government's unveiling of a new budget.

UK allows new oil, gas drilling in existing North Sea fields

Britain's government signalled Wednesday it could issue permits for oil and gas extraction around existing North Sea fields, despite a promise to halt licences for new production in the area.

UK tax-raising budget pleases markets despite growth downgrades

Britain's government unveiled a tax-raising budget Wednesday welcomed by financial markets, as its hard-hitting action aims to slash state debt as well as fund public services.

NASA confirms support for delayed European Mars rover: ESA

NASA has confirmed that it will contribute to Europe's Martian rover Rosalind Franklin, which is scheduled to launch in 2028 after repeated delays, the European Space Agency said on Wednesday.

Insurance giant Allianz signals job cuts in AI shift

German insurance giant Allianz signalled Wednesday looming job cuts due to its adoption of artificial intelligence with a report saying up to 1,800 roles, mainly in call centres, could be axed.

Swedish steel startup Stegra gets more state aid

The Swedish Energy Agency said Wednesday it was giving some $40 million in support to low-carbon steelmaker Stegra, amid fears surrounding the ambitious startup's finances.

Lebanese living abroad seek hope as they return for pope visit

Rachelle Mazraani is travelling from Sydney to Beirut for Pope Leo XIV's visit this week, one of many Lebanese at home and abroad who hope the trip will revive their struggling country.

Swedish steel startup Stegra gets state aid

The Swedish Energy Agency said Wednesday it was giving some $40 million in support to low-carbon steelmaker Stegra, amid fears surrounding the ambitious startup's finances.

Shein under EU pressure over childlike sex dolls

The European Union stepped up its pressure on Shein on Wednesday after the online retail giant faced an uproar in France over the sale of childlike sex dolls.

EU lawmakers call to make it easier to suspend shopping platforms like Shein

EU lawmakers on Wednesday called to make it easier to suspend e-commerce platforms, following outrage in France over the sale of childlike sex dolls on Shein, and demanded better policing of such websites.

Richard Branson 'heartbroken' as his wife dies aged 80

British entrepreneur Richard Branson paid tribute Wednesday to his wife Joan Templeman shortly after announcing her death, saying "life will never be the same without her".

ECB warns on stretched AI valuations and sovereign debt risks

Heightened market exuberance around artificial intelligence and eye-popping levels of government debt could pose risks to eurozone financial stability, the European Central Bank warned Wednesday.

IMF urges Germany to enact 'pro-growth' reforms

The International Monetary Fund said Wednesday that Germany's public spending ramp-up must be accompanied by "pro-growth" reforms to ensure Europe's beleaguered top economy makes a sustained recovery.

Stocks extend global rally as data boost rate cut hopes

Asia and Europe extended a global equities rally Wednesday after another round of tepid US data reinforced expectations that the Federal Reserve will cut interest rates again next month.

'Forgotten' women demand justice in Spain breast cancer scandal

Anabel Cano thought cancer had spared her after she underwent a mammogram in the Spanish region of Andalusia. Having now lost a breast to a mastectomy, she feels betrayed.

Beloved sheepskin-sack cheese Bosnia wants to protect

High in the mountain meadows of southern Bosnia, farmer Branka Buha monitors her cows through a GPS signal on her husband's phone.

As Ukraine battles for key city, pro-Russian accounts wage AI war

Fighting for control of Pokrovsk in Ukraine's east is raging on, but in pro-Russian social media circles, Moscow has already won: viral, AI-generated videos depict a Ukrainian army in retreat, complete with fake, tearful soldiers.

Bombay Durpun - Economy (English)