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Zara owner Inditex shares soar as sales growth revives
Shares in Zara owner Inditex, the world's largest fashion retailer, soared on Wednesday as a positive start to the autumn season enthused investors and eclipsed slower-than-expected sales growth. "The results were bad, but the market is reacting very positively to this growth figure because it means returning to the levels Inditex had got us used to," XTB analyst Javier Cabrera wrote in a note.
Top EU court upholds nuclear green label
The EU's top court on Wednesday upheld the European Commission's decision to give a sustainable finance label to investments in natural gas and nuclear power, dismissing a complaint by Austria. The European Commission in 2022 defied protests from green campaigners and dissent in its own ranks to give a sustainable finance label to investments in both gas and nuclear power.
Ozempic maker Novo Nordisk to cut 9,000 global jobs
Danish pharmaceutical giant Novo Nordisk announced Wednesday that it would cut 11 percent of its workforce, as the maker of Ozempic and Wegovy faces rising competition for its anti-obesity treatments. - Copycats - Novo Nordisk faces stiff competition from rival treatments made by US group Eli Lilly.
EU chief to defend Trump trade deal in parliament
EU chief Ursula von der Leyen will seek to defend her trade deal with Donald Trump in an address to the bloc's lawmakers Wednesday -- with many seething over an outcome they see as a surrender to Washington.
Top Japan start-up Sakana AI touts nature-inspired tech
When David Ha started an AI company in Japan with his former Google colleague, they had a choice: create another huge, energy-intensive tool like ChatGPT, or go their own way. In starting the company, Ha has put down roots in Japan, which "has its problems" but remains "a leading democracy in Asia", he said.
Asian markets rally as new US jobs data fans rate cut hopes
Asian markets extended gains on Wednesday following a record day across Wall Street as fresh data pointing to a weakening US jobs market ramped up expectations for a series of Federal Reserve rate cuts. After all three main indexes on Wall Street ended at record highs, Asia continued the positive run on Wednesday.
US Supreme Court to hear Trump tariff case in November
The US Supreme Court on Tuesday agreed to hear arguments in November on the legality of President Donald Trump's sweeping tariffs, after his administration asked for an expedited ruling on the issue. Trump's administration asked the top court last week for an expedited ruling preserving the tariffs, saying the lower court decision has already damaged trade negotiations.
Former Meta researchers testify company buried child safety studies
Meta systematically suppressed internal research highlighting serious child safety risks on its virtual reality platforms, according to allegations from current and former employees who testified to Congress on Tuesday. Researcher Jason Sattizahn told the Senate hearing that it was "very clear that Meta is incapable of change without being forced by Congress."
EU clamps down on food waste, fast fashion
EU lawmakers gave a final green light Tuesday to a law on slashing back the mountains of food wasted in Europe each year, and curbing the environmental impact of so-called fast fashion.
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