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Stocks mixed as traders assess AI rally, US rates and shutdown
Asian markets were mixed Thursday as investors tried to assess the outlook for the global AI-fuelled rally, Federal Reserve interest rates and the ongoing US government shutdown. "AI is clearly a bubble," warned Neil Wilson at Saxo markets.
US federal workers apply for loans as shutdown hits military morale
Now into its second week, the US government shutdown has started impacting federal workers, prompting some to take out new loans to help make ends meet. The first test will come next week, when federal workers will start seeing their paychecks affected.
US facing worsening flight delays as shutdown snarls airports
Concerns over flight delays and missed paychecks due to the US government shutdown escalated Wednesday, as senators rejected yet another bid to end the standoff.
Afghan mobile access to Facebook, Instagram intentionally restricted: watchdog
Access to several social media sites, including Facebook, Instagram and Snapchat, has been "intentionally restricted" in Afghanistan, an internet watchdog said Wednesday, a week after a 48-hour telecommunications blackout in the country.
BBVA, Sabadell clash heats up ahead of takeover deadline
Tensions mounted ahead of the closing on Friday of Spanish banking giant BBVA's hostile takeover bid for smaller national rival Sabadell whose uncertain outcome will be announced on October 17. Shareholders have until Friday at 23:59 (2159 GMT) to accept or reject the offer whose outcome remains uncertain due to the large number of small Sabadell shareholders.
World economy not doing as badly as feared, IMF chief says
The global economy is doing better than expected, even as it faces prolonged uncertainty and underwhelming medium-term growth prospects, the head of the IMF said Wednesday. Against this backdrop, the Fund still expects global growth to remain at roughly three percent over the medium term, in line with previous forecasts -- below the 3.7 percent, on average, seen before the Covid-19 pandemic.
Veggie 'burgers' face the chop as EU lawmakers back labeling ban
Plant-based "steaks" and "veggie burgers" may be on the way out in the European Union after the bloc's parliament voted Wednesday to restrict such labels to meat only, in a win for disgruntled farmers. It is not the first time veggie burgers have found themselves in the crosshairs of European lawmakers, with a similar proposal for a ban rejected in 2020.
Germany raises growth forecasts, but warns reforms needed
Germany's economy will eke out meagre growth in 2025 before picking up speed next year, the government Wednesday said as it raised forecasts, but called for "decisive reforms" for a sustained recovery. In its latest forecasts, the economy ministry said it did not expect a third year of recession in 2025, although the economy would only grow 0.2 percent.
EU wants key sectors to use made-in-Europe AI
The EU on Wednesday told European businesses in critical sectors to ramp up their uptake of artificial intelligence and pushed for the bloc to cut its dependence on foreign AI providers.
AFP
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