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World's first CO2 storage service soon ready in Norway
Norway inaugurated Thursday the gateway to a massive undersea vault for carbon dioxide, a crucial step before opening what its operator calls the first commercial service offering CO2 transport and storage. On the island of Oygarden, a key milestone was marked on Thursday with the inauguration of a terminal built on the shores of the North Sea, its 12 shiny storage tanks rising up against the sky.
South Korea surges in UN innovation index
South Korea made the biggest jump among the world's 10 most innovative economies in the UN's annual rankings published Thursday, alongside a gloomy global outlook for innovation investment. But South Korea was the biggest mover in the GII's top 10, up four places to sixth, leapfrogging Finland, the Netherlands, Germany and Denmark.
Ex-Harrods owner Al-Fayed presided over 'toxic culture': managing director
Harrods' managing director on Thursday said his former boss Mohamed Al-Fayed, who is accused of sexual assault by dozens of women, presided over a "toxic culture of secrecy, intimidation, fear of repercussion and sexual misconduct". In 2008, Fayed was accused of sexually assaulting a 15-year-old girl and CPS reviewed evidence in 2009.
Ubisoft shares sink after 'Assassin's Creed' delay
Shares in French video game giant Ubisoft plunged nearly 20 percent Thursday after it dropped its profit targets following a delay to its latest "Assassin's Creed" title. Sales of the hotly awaited title have been lower than expected, and Ubisoft said it developers were focused on improving the game before moving to "further polish" the game-play of "Assassin's Creed Shadows".
German economy to shrink again in 2024: think tanks
Germany's economy is expected to shrink slightly in 2024, leading economic institutes said on Thursday, as the traditional manufacturing powerhouse continues to stagnate. Most recently, the economy underperformed analyst expectations in the second quarter, shrinking by 0.1 percent.
Hong Kong's New World Development replaces CEO Adrian Cheng
Hong Kong property behemoth New World Development announced Thursday that its chief executive officer Adrian Cheng has been replaced, as the firm reported an annual loss of over US$2.5 billion. The firm also announced losses attributable to shareholders totalling HK$19.68 billion (US$2.5 billion), which will will mark New World's first annual loss in two decades.
Swiss central bank cuts rate again amid strong franc worries
Switzerland's central bank on Thursday cut its key interest rate by a quarter percentage point for the third time this year, citing the strong Swiss franc and lower inflationary pressure.
Germany's BASF to focus on 'core units' in major overhaul
German chemicals giant BASF said Thursday it would focus on cost cutting and strengthening its "core businesses" in the years ahead as it unveiled details of a major overhaul. In the coming years, BASF "will focus on strengthening and profitably growing its core businesses", which it defined as the chemicals, materials, industrial solutions and nutrition segments.
China admits economy facing new 'problems', vows to fix property sector
Chinese President Xi Jinping and other top leaders admitted Thursday that the world's number two economy was facing new "problems" and vowed to resolve a long-running crisis in the housing sector.
AFP
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