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EU says Google abused dominant positions in online ads
The European Commission accused Google on Wednesday of abusing its dominance of the online ad market and recommended the US company sell part of its ad services to ensure fair competition.
Erdogan hints at rate hike after election victory
Turkish President Recep Tayyip Erdogan signalled Wednesday that he would let his new economic team hike interest rates to combat inflation and stabilise the lira, reversing an era of unconventional policies. Erdogan's comments suggest that the powerful Turkish leader has given his new team time to show that their more conventional economic policies work.
Shell maintains oil output levels, sparking outcry
Shell plans to maintain oil production levels until 2030, the British energy giant said Wednesday, triggering an outcry from green campaigners who also slammed a big payout for shareholders. "Our target of a reduction in oil production by 2030 has not changed.
Peak in oil demand 'in sight' before end of decade: IEA
Global oil demand could peak before the end of this decade as the energy crisis has accelerated the transition to cleaner technologies, the International Energy Agency said Wednesday.
Fed expected to skip June interest rate hike but leave door open to later increase
The Federal Reserve will announce Wednesday if it will press ahead with an 11th straight interest rate hike to tackle high inflation or skip an increase to give policymakers more time to take stock of the US economy. Alongside its interest rate announcement Wednesday, the Fed will also release updated economic forecasts.
EU lawmakers to back world's first AI rules
European Parliament lawmakers will vote Wednesday to kickstart talks to approve the world's first sweeping rules on artificial intelligence systems like ChatGPT, aiming to curb potential harms while nurturing innovation. Lawmakers have hailed the draft law as "historic" and pushed back against critics who say the EU's plans could harm rather than encourage innovation.
Markets extend rally as US inflation data fans rate pause hopes
Asian investors pushed equities even higher Wednesday after data showed US inflation fell further last month, ramping up expectations the Federal Reserve will finally pause its interest rate hike campaign.
Fake Twitter 'blondes' promote UAE climate summit
Researchers call them the "American blondes" -– bright-eyed environmentalists tweeting passionately in support of the UAE and its handling of the forthcoming COP28 climate summit.
US judge pauses Microsoft's Activision buy
A US federal judge on Tuesday temporarily blocked Microsoft from completing its $69 billion buyout of gaming giant Activision Blizzard, a court filing showed. The ruling came a day after the FTC asked a federal court prevent Microsoft from completing its blockbuster buy of Activision Blizzard as it considers regulatory action.
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