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Record potato harvest is no boon in fries-mad Belgium
Fries powerhouse Belgium is in for a record potato harvest this year -- but that's hardly cause for celebration for farmers who face a slump in prices partially driven by a crunch in exports. "It's going to be a difficult year," Baudouin Dewulf, a grizzled farmer in Geer, eastern Belgium, said.
Deutsche Bank posts record profit on strong trading
Germany's largest bank Deutsche Bank posted record third-quarter profit Wednesday and beat expectations, boosted by a strong performance at its investment bank. Revenue rose across most of the bank, but the investment bank led the way with a rise of 18 percent to three billion euros.
UBS beats expectations as claws backs provisions
Swiss banking giant UBS reported third-quarter earnings that beat analyst expectations, thanks in part to clawing back provisions for possible litigation, but also sustained by strong performances in its trading and wealth divisions. The bank said it had earned a net profit of nearly $2.5 billion in the third quarter, a 74-percent increase from the same period last year.
NZ raids shipping insurer over alleged sanctions busting
New Zealand police raided a shipping insurer's offices over allegations it offered cover to tankers breaking Russian sanctions, a senior detective said Wednesday. Reuters said this week that the New Zealand insurer had helped tankers carrying Russian and Iranian oil to avoid Western sanctions by providing them with insurance.
As US blows up drug boats, Venezuelan oil sets sail
While the American military blows up boats it claims are transporting drugs from Venezuela, observers say tankers shipping Venezuelan oil in violation of a US embargo continue to navigate the very same Caribbean waters undisturbed.
US Fed on track to cut rates again in penultimate decision of 2025
The US Federal Reserve is almost certain to cut interest rates for a second straight meeting on Wednesday, and could also shed light on what it will do next. But analysts widely expect Fed chair Jerome Powell to tell reporters during the bank's post-decision press conference on Wednesday that the rate-setting Federal Open Market Committee (FOMC) is keeping an open mind about the following meeting.
Microsoft holds 27% of OpenAI in revamped partnership
Microsoft and OpenAI announced Tuesday a sweeping overhaul of their landmark artificial intelligence (AI) partnership, giving both companies greater independence while maintaining their close collaboration.
Trump heads to South Korea with all eyes on Xi meeting
US President Donald Trump heads Wednesday for South Korea, where a key meeting with Chinese leader Xi Jinping could produce a truce in the blistering trade war between the world's two largest economies. The US president will head to Gyeongju for a summit with South Korean President Lee Jae Myung -- their second in-person talks just two months after a meeting in Washington.
Uber partners with Nvidia to deploy 100,000 robotaxis
Uber and Nvidia on Tuesday announced an alliance to deploy 100,000 robotaxis starting in 2027. "Together with Uber, we're creating a framework for the entire industry to deploy autonomous fleets at scale, powered by Nvidia AI infrastructure," Nvidia chief executive Jensen Huang said in a release.
AFP
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