AFP
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Italian fashion titan Zegna to hand over power
Gildo Zegna, grandson of the eponymous fashion brand's founder Ermenegildo Zegna, will hand over the reins of the group to its finance director and the fourth generation of family leaders in January, the group announced Monday.
AI delay may affect Europe's future, says ECB chief
European Central Bank chief Christine Lagarde warned Monday that a delay in embracing artificial intelligence could "jeopardise" the continent's future, urging barriers to its adoption to be swiftly lifted. "Otherwise we risk letting the wave of AI adoption pass us by and jeopardise Europe's future."
Germany business morale falls as hopes for revival dim
German business sentiment fell more than expected in November, a survey showed Monday, the latest sign that industry is losing faith in the government's plans to revive the economy. In the latest Ifo survey, companies' expectations for the future fell particularly heavily, which LBBW bank economist Jens Oliver-Niklasch described as alarming.
EU says will push US to lower steel tariffs
The EU will Monday urge the United States to implement more of the transatlantic trade deal struck in July, including cutting tariffs on steel, during talks in Brussels with US Commerce Secretary Howard Lutnick.
UK budget tests Labour govt's credibility
Britain's centre-left Labour government unveils its annual budget Wednesday, with expected tax rises to curb debt and fund public services threatening to further dent its weak poll ratings. Reeves hiked a tax on businesses in her inaugural budget last year -- a move that has been blamed for Britain's weak economic growth.
Belgium prepares for three days of national strikes
Belgium faces closed schools and disrupted train and air travel as unions call for three days of strikes starting Monday to protest the government's proposed spending cuts and labour law changes. Trains and public transport begin striking Monday, with national railroad company SNCB expecting to run two out of three trains, or just one out of three on some lines.
Asian stocks rise as US rate hopes soothe nerves after torrid week
Asian markets mostly rose Monday as fresh hopes for a US interest rate cut provided some calm after last week's rollercoaster ride fuelled by worries of a tech bubble. That has been compounded in recent weeks by falling expectations the Federal Reserve will cut rates for a third successive time next month as stubbornly high inflation overshadows weakness in the labour market.
Rising from the ashes: Mogadishu's building boom
Mogadishu is rising, literally, from the ashes of decades of war. "The government is trying to project that Mogadishu is rising," he said, but "who is paying the price?"
EU, Africa leaders to talk trade and minerals, as Ukraine looms large
European and African leaders gather in Angola Monday for a summit aimed at deepening economic and security ties that will serve as a backdrop to emergency talks on Ukraine. After top US and Ukrainian representatives met in Geneva on Sunday for talks on a new version of the proposal, EU leaders were to hold a "special meeting" on the sidelines of the Luanda gathering on Monday.
AFP
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