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TikTok signs joint venture deal to end US ban threat
TikTok said Thursday it had signed a joint venture deal with investors that would allow the company to maintain operations in the United States and avoid a ban threat over its Chinese ownership, US media reported.
Nike shares slump as China struggles continue
Nike reported a drop in quarterly profits Thursday, citing a drag from higher US tariffs and continued weakness in China in results that sent shares sharply lower. But tariffs remained a drag.
Argentine unions in the street over Milei labor reforms
Thousands of Argentines demonstrated on Thursday against President Javier Milei's plans to drastically overhaul the country's labor laws to make work more flexible, restrict the right to strike and make it cheaper to fire workers. Milei's government maintains that Argentine's current labor laws are too restrictive and dissuade employers from on-the-books hiring.
Russian court orders Austrian bank Raiffeisen to pay compensation
The largest Western bank still operating in Russia was on Thursday ordered to pay nearly $400 million in compensation for losses incurred by Russian company Rasperia due to European sanctions. According to Washington and Brussels, Rasperia is linked to the Russian businessman Oleg Deripaska, who has been under Western sanctions since Russia's invasion of Ukraine in 2022.
Trump Media announces merger with fusion power company
Trump Media & Technology Group, the struggling company that owns the US president's Truth Social platform, announced Thursday a $6 billion merger with fusion power company TAE Technologies, in an unexpected pivot into energy technology. TAE Technologies, founded in 1998, says its fusion technology could provide abundant electricity to power AI infrastructure.
US consumer inflation cools unexpectedly in November
US consumer inflation slowed unexpectedly in November, delayed government data showed Thursday, although levels remained higher than earlier in the year before President Donald Trump's tariffs flowed through the economy.
Bank of England cuts interest rate after UK inflation slides
The Bank of England cut its key interest rate to 3.75 percent on Thursday after UK inflation eased faster than expected and as the economy weakens. The central bank last cut its key interest rate in August amid concerns over the impact of US tariffs on the UK economy.
Spain to buy 100 military helicopters from Airbus
Spain's defence ministry has ordered 100 helicopters from Airbus destined for deployment in various parts of its armed forces, the European aeronautics company said Thursday. Spain's Defence Minister Maria Amparo Valcarce Garcia called the helicopters "essential" for the operations of the armed forces.
Tractors clog Brussels in anger at EU-Mercosur trade deal
Hundreds of tractors converged on Brussels on Thursday in a show of farmers' anger at the EU's planned trade deal with South American bloc Mercosur -- whose fate hung in the balance as summit talks opened in the Belgian capital. More than 150 tractors clogged the streets of central Brussels Thursday morning with many more expected.
AFP
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