Economy
Food fight: $25 bn US grocery deal falls apart
A proposed $25 billion supermarket mega-merger disintegrated Wednesday in bitter recriminations between Albertsons and would-be suitor Kroger following US court rulings blocking the deal. In statements released by Albertsons, the Boise, Idaho supermarket chain said it was "disappointed" by the court ruling and squarely placed blame on Kroger.
Google unveils latest AI model, Gemini 2.0
Google on Wednesday announced the launch of Gemini 2.0, its most advanced artificial intelligence model to date, as the world's tech giants race to take the lead in the fast developing technology. The tech giants promise that agents will be the next stage of an AI revolution that was sparked by the 2022 launch of ChatGPT, which took the world by storm.
Apple adds ChatGPT integration in latest software update
Tech giant Apple on Wednesday rolled out major updates to its artificial intelligence offerings that integrate OpenAI's ChatGPT into its native applications, including Siri, on the iPhone. The ChatGPT features fall under the iPhone maker's "Apple Intelligence" system, which also includes an AI-powered image editing tool called Image Playground and an emoji generator dubbed Genmoji.
US consumer inflation rises for second straight month in November
US consumer inflation ticked up for a second consecutive month in November, driven by housing and food prices among other sectors, according to government data published Wednesday, complicating the Federal Reserve's rate cut deliberations.
Another foreign company leaves Nigeria after 31 years, sells off assets for over $1bn
Equinor has decided to sell off its assets and exit Nigeria after 31 years, transferring them to Chappal Energies, which has promised to unlock stranded oil assets.
Argentina's Milei touts US trade deal, says 'happy times' ahead
Argentine President Javier Milei promised Tuesday that inflation will soon be "little more than a bad memory" and vowed to pursue a free trade deal with the United States next year.
China's leaders to chart economic plans for 2025: report
China's leadership will gather Wednesday to hammer out plans to boost the economy next year, reports said, as they look to address weak domestic demand and the possibility of a deepening trade war with the United States. Beijing is also strapping in for four more years of tensions with the United States under President-elect Donald Trump, who has promised to impose stinging tariffs on China.
Asian markets mixed ahead of US inflation data, eyes on China
Markets diverged on Wednesday ahead of US inflation data that could play a key role in the Federal Reserve's interest rate decision next week, while traders were also keeping tabs on Beijing hoping for more economic support measures.
Ecuadoran workers accuse 'monster' Japanese company of exploitation
Ex-employees of a Japanese textile company in Ecuador told Tuesday of their dire living and working conditions, after the country's constitutional court ruled the firm kept its staff in a slave-like setting. "A friend was cut, we were working in a downpour.
Economy
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