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Europe needs 'unprecedented' investment surge, says key report
Europe must massively ramp up investment including through joint borrowing as part of a "new industrial strategy" to keep pace with the United States and avoid dependence on China, a keenly awaited report warned Monday.
ECB to deliver fresh rate cut as inflation cools
The European Central Bank is expected to cut interest rates again this week as inflation drifts back down towards its two-percent target, but policymakers will likely stay tight-lipped on future moves. The central bank has in recent times insisted it will not foreshadow its future moves, and will rely solely on incoming data.
Asian markets tumble as US jobs data stoke recession fears
Asian markets tumbled Monday after another batch of worse-than-expected US jobs data revived fears about a possible recession in the world's top economy. "The current batch of data no longer requires patience, it requires action," he warned, while adding that he did not think the economy was in recession or headed for one.
China consumer prices edge up to six-month high in August
Chinese consumer inflation ticked up slightly in August to a six-month high, official data showed Monday, but the reading missed expectations and did little to soothe worries about sluggish spending in the world's number two economy.
US takes on Google's ad tech empire in antitrust trial
Google faces its second major antitrust trial in less than a year on Monday, with the US government accusing the tech giant of dominating online advertising and stifling competition. Her decision on whether Google has broken antitrust law will come months after the trial.
Apple AI expected to star as new iPhones are unveiled
Apple is expected to release its latest line of iPhones on Monday that will feature generative AI capabilities as the tech behemoth looks to bolster sales of its iconic device. By adding AI capabilities, Apple is looking to "shake that expectation" that iPhone launches are "just steady improvements in hardware and software," said Techsponential analyst Avi Greengart.
Awe and trepidation as AI comes for smartphones
Matthew Day was keen to find out if an artificial intelligence-packed Google Pixel 9 smartphone could tell him a great local fishing spot. "I asked it a question and it gave me a quick answer," Day said as he checked out the Pixel 9.
Boeing, union reach preliminary deal to avert Seattle-area strike
Boeing has agreed on a preliminary new contract with union leaders that includes a hefty wage hike that would avert a strike in the Seattle region, the two sides announced Sunday. If workers ratify the contract, Boeing would follow in the steps of the United Parcel Service, which narrowly averted a strike in July 2023 after reaching agreement with the Teamsters union.
Greece to hike fee for cruise passengers to Mykonos and Santorini
Greek Prime Minister Kyriakos Mitsotakis on Sunday announced that a fee of 20 euros will be imposed on cruise passengers visiting the popular islands of Mykonos and Santorini. "The cruise industry has put a strain on Santorini and Mykonos, so the fee will be 20 euros," he added.
AFP
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