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Norway postpones deep-sea mining activities for four years
Norway on Wednesday postponed the first licences to permit deep-sea mining in its Arctic waters for four years, a delay environmentalists hope signals the "nail in the coffin" of the plans. "This must be the nail in the coffin for the deep sea mining industry in Norway," said Greenpeace deep sea mining campaigner Haldis Tjeldflaat Helle.
Zara owner Inditex posts higher profits
Zara owner Inditex, the world's largest fashion retailer, posted Wednesday higher profits for the first nine months of its fiscal year despite stiffer competition from low-cost clothing outlets like Shein and Primark.
Airbus cuts delivery target over fuselage quality issue
Aircraft maker Airbus said Wednesday it had lowered its 2025 target for deliveries because of fuselage panel quality issues at its flagship model, the A320. It did not say whether 2026 deliveries would also be affected by the problem which it said stemmed from "a recent supplier quality issue on fuselage panels impacting its A320 Family delivery flow".
EU agrees deal to ban Russian gas by autumn 2027
European Union lawmakers and member states reached a deal Wednesday to ban all imports of Russian gas by autumn 2027, as the bloc seeks to choke off key funds feeding Moscow's war chest. The timeline must still get final approval from the European Parliament and member states.
Indian rupee hits fresh record low past 90 per dollar
India's rupee fell to a fresh record low of over 90 per dollar Wednesday, extending recent declines, with traders partly blaming the delay in striking a trade deal with the United States. On Wednesday morning, the rupee weakened as much as 0.35 percent to a symbolic new low of 90.19, according to Bloomberg data.
YouTube says Australia social media ban makes children 'less safe'
YouTube on Wednesday attacked Australia's looming social media ban for under-16s, denouncing the world-first laws as "rushed" and saying they will make children less safe online. "This law will not fulfil its promise to make kids safer online, and will, in fact, make Australian kids less safe on YouTube," the company's public policy manager Rachel Lord said in a statement.
Chinese smart glasses firms eye overseas conquest
In China, AI glasses let the wearer pay in shops with just a glance at a QR code and a voice command, as a growing number of companies look to conquer both growing domestic and overseas markets. China's internet-based infrastructure, such as QR payment codes in shops, is "already more developed than in Europe and the United States", said Zhu.
Most Asian markets rise as traders await key US data
Markets mostly rose Wednesday, following a resumption of Wall Street's rally, but gains were muted as investors await the last tranche of US data before next week's Federal Reserve meeting. IG market analyst Fabien Yip wrote: "Friday's core PCE index represents the final major inflation gauge before the Fed's December policy meeting.
Italy's luxury brands shaken by sweatshop probes
A series of investigations into exploitative work conditions within fashion subcontractors has roiled Italy's luxury industry, with the government decrying attacks on "Made in Italy". Italy's government has gone on the offensive, with Industry Minister Adolfo Urso saying the reputation of Italian brands was "under attack".
AFP
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