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US retail sales, producer prices register October fall
Retail sales in the United States fell slightly in October, according to government data published Wednesday, fueled by a large drop in consumer spending at furniture and home furnishing stores. Spending at furniture and home furnishing stores saw the largest monthly decline in October, falling by 2.0 percent from a month earlier.
Bangladesh garment factories reopen after violent protests
Bangladesh garment factories reopened Wednesday as hundreds of thousands of workers returned to key manufacturing hubs after days of violent protests demanding a near-tripling of the minimum wage. Top union leader Babul Akhter said on Wednesday that while they still rejected the new minimum wage, he urged workers to return to factories.
Inflation, higher rates hit eurozone growth outlook
The European Commission on Wednesday lowered its eurozone growth forecast for 2023 and 2024, saying the high cost of living and interest rates were weighing on consumers and businesses.
China's Tencent posts Q3 income slide despite revenue growth
Chinese internet giant Tencent announced on Wednesday a nine percent year-on-year dip in third-quarter net income, even as it posted growth in revenue over the same period. Total third-quarter revenue for the tech giant stood at 154.6 billion yuan ($21.3 billion), up 10 percent year-on-year and up four percent from the second quarter.
EU negotiators reach deal on methane emission curbs
Negotiators for the EU's member states and lawmakers on Wednesday reached a deal on new rules to curb methane emissions which would put new reporting requirements on the coal, gas and oil industry. It requires the fossil fuel energy sector to have new measures to track and monitor methane gas emissions, and to prevent leaks.
Dubai plans new mega-airport as Mideast competition hots up
Dubai is forging ahead with plans to replace the world's busiest airport with an even bigger one as passenger traffic recovers to outstrip pre-pandemic levels, a top official told AFP on Wednesday. Griffiths was speaking as new figures forecast 86.9 million passengers at Dubai International this year, surpassing 2019 traffic and underlining the recovery from the pandemic.
After rescue deal, Siemens Energy unveils massive loss
Siemens Energy reported a 4.59-billion-euro ($5-billion) annual loss Wednesday, dragged down by a crisis in its wind power unit, a day after a government-backed rescue package was unveiled for the German group.
UK inflation falls sharply, relieving pressure on PM Sunak
UK inflation fell more than expected in October, data showed Wednesday, easing a cost-of-living crisis and relieving pressure on Prime Minister Rishi Sunak. US consumer inflation cooled more than expected last month, government data showed Tuesday.
China retail sales surge in October but economy remains sluggish
Chinese retail sales grew in October at the fastest rate in five months, data showed Wednesday, boosted by an extended holiday at the start of the month, though other indicators pointed to still-sluggish demand in the world's number-two economy.
AFP
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