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EU strikes budget reform deal after two-year wrangle
EU strikes budget reform deal after two-year wrangle
by  AFP

The EU agreed reforms Wednesday that will loosen budget rules with the goal of encouraging investments while keeping debt and spending under control, after France and Germany bridged their differences. Dutch minister Sigrid Kaag said: "This agreement provides for fiscal rules that encourage reforms, with room for investments and tailored to the specific situation of the member state in question.

US home sales edge up in November but still gloomy
US home sales edge up in November but still gloomy
by  AFP

Sales of US existing homes crept up in November, according to industry data released Wednesday, though they remained at a low level as high mortgage rates weigh on activity. But NAR chief economist Lawrence Yun sounded an optimistic note, saying that the persistently low sales figures reflect the situation in most of October when mortgage rates were at a two-decade high.

EU court sides with Ryanair over Air France-KLM aid
EU court sides with Ryanair over Air France-KLM aid
by  AFP

A top EU court annulled on Wednesday the approval of a pandemic state aid programme for Air France-KLM that had been challenged by Irish rival Ryanair and Malta Air. The court noted that Ryanair and Malta Air had argued that the measures were "contrary to EU law".

UK inflation hits lowest level in more than two years
UK inflation hits lowest level in more than two years
by  AFP

British inflation has slowed sharply to the lowest level in more than two years on falling petrol prices, official data showed Wednesday, easing a cost-of-living crisis after aggressive interest-rate hikes.

On yer bike: London firms turn to cargo bikes
On yer bike: London firms turn to cargo bikes
by  AFP

On a busy north London street, plumber Ben Hume-Wright zipped through the heavy rush-hour traffic to his next job by bike. Like Hume-Wright, environmental considerations were a key factor for the switch.

Illegal mining, smuggling threaten Ghana's cocoa industry
Illegal mining, smuggling threaten Ghana's cocoa industry
by  AFP

Ghana, the world's second biggest cocoa producer, faces a growing risk to its harvest -- and blow to its crisis-hit economy -- from illegal mining and smugglers, industry officials, farmers and activists warn. Along with gold and oil, the cocoa industry is a mainstay of Ghana's economy and foreign currency earnings.