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Ford to cut 4,000 jobs in Europe
US car giant Ford on Wednesday announced 4,000 more job cuts in Europe, mostly in Germany and Britain, in the latest blow to the continent's beleaguered car industry. Ford had already announced in February 2023 that it was planning to cut 3,800 jobs in Europe, including 2,300 in Germany and 1,300 in Britain.
As Trump returns, China seizes chance for climate mantle
With Donald Trump expected to take the United States again out of climate diplomacy, China, the world's largest emitter but green energy powerhouse, is seizing on the chance to project itself as the global leader. The Asian power has now surpassed Europe as the second-largest historical emitter after the United States.
French farmers lift border blockade after talks with PM
French farmers protesting pay and conditions and a prospective EU-Latin America trade deal on Wednesday lifted a blockade on the Spanish border after an expression of support from Prime Minister Michel Barnier. Resistance has been reinflamed by the prospect of an EU deal with the Mercosur bloc -- Argentina, Brazil, Paraguay and Uruguay -- that would create the world's largest free-trade zone.
General strike in Greece against cost of living
Thousands of people demonstrated in Athens and other cities Wednesday as a 24-hour general strike against the rising cost of living shut down public services and part of the transport network. Some 15,000 people marched in the capital, while another 4,000 demonstrated in Greece's second city Thessaloniki, police said.
Floods to shave 0.2 percentage points off Spain's growth
The floods which killed 227 people in Spain last month could shave 0.2 percentage points off its economic growth in the final quarter of 2024, the central bank said Wednesday. "The estimated impact would be close to -0.2 percentage points on the quarterly growth rate in the fourth quarter," Bank of Spain governor Jose Luis Escriva told reporters in Madrid.
Japan ramps up tech ambitions with $65 bn for AI, chips
Japan is readying a $65-billion push in microchips and artificial intelligence aimed at reclaiming its status as a global tech leader and meeting the urgent challenges of its ageing, shrinking population.
Asian markets struggle as traders weigh geopolitical tensions
Asian investors struggled Wednesday to track a positive lead from Wall Street as they assess the prospect of an escalation in the Russia-Ukraine war, Donald Trump's second presidency and the outlook for US interest rates. That has dampened hopes for several Federal Reserve interest rate cuts next year.
Strike at French cognac maker Hennessy over measures in China spat
Strike at French cognac maker Hennessy over measures in China spat
Trump names China hawk Howard Lutnick as US commerce secretary
US President-elect Donald Trump nominated Howard Lutnick, the co-chair of his transition team, as his commerce secretary on Tuesday -- a choice set to bring a tougher stance on China from the incoming administration. As co-chair of Trump's transition team, Lutnick has been identifying new hires for the president-elect's administration. bys/bjt
AFP
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