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China shares dip as central bank cuts key rate
Mainland China's shares fell on Tuesday as its central bank announced a record cut to a benchmark lending rate in a bid to boost its struggling economy. But both were down in early trade Tuesday, as the People's Bank of China announced it was lowering the five-year loan prime rate (LPR), used to price mortgages, from 4.2 to 3.95 percent.
Capital One to buy Discover for $35.3 bn
US banking giant Capital One announced Monday it will acquire financial services company Discover in a $35.3 billion all-stock deal combining two of America's major credit card firms. Discover is among the United States' major credit card networks, but is smaller than the top three: Visa, Mastercard and American Express.
China central bank cuts benchmark lending rate to boost economy
China's central bank on Tuesday cut a key benchmark lending rate used to price mortgages, as Beijing seeks to boost its flagging growth. But that, and recent announcements including central bank interest rate cuts and measures to boost lending, have had little impact so far.
Made-in-China airliner shown overseas at Singapore Airshow
China's first domestically produced passenger jet will be presented to potential buyers in an international debut at Asia's biggest airshow, which opens in Singapore on Tuesday. But while Boeing will be present at the airshow, it is not presenting any physical commercial aircraft, unlike in previous years.
Ecuador backtracks on plan to send weapons to Ukraine
Ecuador's foreign minister said Monday the country did not plan to send Soviet-era weapons to Ukraine after the president's vow to do so sparked a spat with Moscow over banana and flower exports. On Friday Ecuador's Trade Minister Sonsoles Garcia said on X that the Russian embargo on five banana exporting companies had been lifted.
Italy takes over troubled steel mill
Following months of unsuccessful talks, the Italian government Monday launched a temporary state takeover of a troubled steel mill that that is majority-owned by steel giant ArcelorMittal, according to sources close to the situation. ArcelorMittal owns a 62 percent stake in the Taranto steel mill and the Italian state the remaining 38 percent.
EU launches probe into TikTok over child protection
The EU on Monday announced a formal investigation into TikTok over alleged breaches of its obligations to protect minors online, under a landmark new law on policing digital content. The new rules demand companies do more to police content online, but also expect digital retailers to act swiftly and effectively to protect shoppers online.
France 'probably' missed 2023 deficit target: source
France likely overshot its budget deficit target in 2023, a finance ministry official said on Monday. The cuts would help the government meet its deficit target for this year of 4.4 percent of GDP, Le Maire told reporters Monday.
Eiffel Tower closes as staff go on strike
The Eiffel Tower, one of the world's top tourist attractions, was closed Monday after staff went on strike, unions told AFP. The strike, which was called to protest over the way the monument is managed financially, could be extended, they said. The stoppage is the second strike at the Eiffel Tower within two months for the same reason.
AFP
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