BUSINESS - Bord Foren

Stock market today: Global shares get a lift from encouraging US inflation report

TOKYO (AP) — Global shares powered higher on Wednesday, cheered by a broad rally on Wall Street after an encouraging U.S. inflation report raised hopes for an end to interest rate hikes by the Federal Reserve. France’s CAC 40 rose 0.5% in early trading to 7,221.25. Germany’s DAX edged 0.2% higher, to 15,644.95, while Britain’s …

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European Commission lowers growth outlook and says economy has lost momentum during a difficult year

BUSINESS / By CTV Bordforen

FRANKFURT, Germany (AP) — The European Union’s executive commission lowered its growth forecast for this year and next, saying the economy “has lost momentum” in 2023 as inflation weighs on consumer spending and higher central bank interest rates deter borrowing for purchases and investment. The outlook for this year was lowered to 0.6% from 0.8% …

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Japan’s economy sinks into contraction as spending, investment decline

BUSINESS / By CTV Bordforen

TOKYO (AP) — Japan’s economy slipped into a contraction in the third quarter, decreasing at an annual pace of 2.1% as consumption and investments shrank, the government reported Wednesday. Real gross domestic product, which measures the total value of a nation’s products and services, fell 0.5% in the July-September period for the world’s third largest …

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Dubai International Airport, world’s busiest, on track to beat 2019 pre-pandemic passenger figures

BUSINESS / By CTV Bordforen

DUBAI, United Arab Emirates (AP) — Passenger numbers at Dubai International Airport this year will eclipse the pre-pandemic passenger figures in 2019, showing the strong rebound in travel after the coronavirus pandemic and lockdowns that grounded aircraft worldwide, a top official said Wednesday. The airport, the world’s busiest for international travel and home of the …

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Labor abuse on fishing vessels widespread, with China topping list of offenders, report says

BUSINESS / By CTV Bordforen

MIAMI (AP) — Hazardous, forced work conditions sometimes akin to slavery have been detected on nearly 500 industrial fishing vessels around the world, but identifying those responsible for abuses at sea is hampered by a lack of transparency and regulatory oversight, a new report concluded. The research by the Financial Transparency Coalition, a Washington, D.C.-based …

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Google CEO Sundar Pichai returns to court to defend internet company for second time in two weeks

BUSINESS / By CTV Bordforen

Google CEO Sundar Pichai on Tuesday was summoned to federal court for the second time in two weeks to testify in an antitrust trial threatening to topple a pillar of an internet empire that he helped build. In his latest court appearance in San Francisco, Pichai spent more than two hours defending the business practices …

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YouTube creators will soon have to disclose use of gen AI in videos or risk suspension

BUSINESS / By CTV Bordforen

The Associated Press (AP) — YouTube is rolling out new rules for AI content, including a requirement that creators reveal whether they’ve used generative artificial intelligence to make realistic looking videos. In a blog post Tuesday outlining a number of AI-related policy updates, YouTube said creators that don’t disclose whether they’ve used AI tools to …

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Russian court fines Google for failing to store personal data on its users

BUSINESS / By CTV Bordforen

MOSCOW (AP) — A Moscow court on Tuesday fined Google for failing to store personal data on its Russian users, the latest in a series of fines on the U.S. tech giant amid tensions between the Kremlin and the West over the fighting in Ukraine. A magistrate at Moscow’s Tagansky district court fined Google 15 …

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Home Depot sales continue to slide but the biggest home improvement chain still tops expectations

BUSINESS / By CTV Bordforen

Home Depot sales continue to slide as Americans wrestle with persistent inflation and the company narrowed its outlook for the year. But the nation’s biggest home improvement retailer still topped expectations for the quarter and shares jumped more than 6% at the opening bell Tuesday. Home Depot now expects an earnings per share to decline …

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US consumer inflation eased in October, driven lower by cheaper gas, cars and airfares

BUSINESS / By CTV Bordforen

WASHINGTON (AP) — Inflation in the United States slowed last month in a sign that the Federal Reserve’s interest rate hikes are continuing to cool the consumer price spikes that have bedeviled consumers for the past two years. Tuesday’s report from the Labor Department showed that prices either fell or rose more slowly across a …

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