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Business groups ask Ottawa to prevent Air Canada strike
Groups representing more than 200,000 businesses across Canada on Thursday urged the government to intervene to block a looming pilot's strike at flagship carrier Air Canada that they say risks devastating the economy.
'Historic': Bad weather slashes wine harvest in France's Jura
Heavy rainfall, hail and mildew have destroyed most of the wine harvest in eastern France's Jura region for this year, leaving winegrowers struggling. "Those leaves were very thin and fragile, and sub-zero temperatures destroyed them, costing us 60 percent of the harvest."
Fiat 500 electric production pauses for one month
Carmaker Stellantis said Thursday it would halt production of the electric version of its emblematic Fiat 500 in Italy due to weak demand, a move that comes as EV sales have slowed in Europe. The carmaker added it was investing 100 million euros ($110 million) to give the compact model a stronger battery and boost production capacity at the Fiat Mirafiori factory outside Turin.
Brazil urges EU to suspend 'punitive' anti-deforestation law
Brazil said Thursday it has urged the EU to suspend the implementation of a ban on imports of products driving deforestation, describing the new rules as "punitive". Brazil said it considered the legislation "a unilateral and punitive instrument that disregards national laws on combating deforestation", adding it increased production and export costs especially for smallholders.
UniCredit CEO says Commerzbank takeover an option: Bloomberg
UniCredit is studying a takeover of Commerzbank, Chief Executive Andrea Orcel said Thursday, a day after Italy's second-largest bank surprised markets by revealing a nine-percent stake in its German rival.
Ireland launches EU privacy probe into Google AI development
An Irish regulator helping to police European Union data privacy on Thursday launched an investigation into Google's artificial intelligence development. The Irish regulator said that its inquiry "concerns the question of whether Google has complied with any obligations that it may have had to undertake" under the EU's strict General Data Protection Regulation (GDPR).
Businesses warn Yellen on 'political pressure' over US Steel sale
Major Japanese and American business groups have urged US Treasury Secretary Janet Yellen not to succumb to political pressure when reviewing Nippon Steel's proposed acquisition of United States Steel.
Russia faces stagflation threat as growth slows
Prices for bread have jumped so much over the last few years that Russian pensioner Oleg Ivanovich sometimes has to go without. When the special military operation ends, prices will return to normal," he told AFP in Moscow, using the official Russian term for the offensive.
With inflation slowing, ECB to cut rates again
With inflation slowing and the economic outlook darkening, the European Central Bank is expected to cut interest rates again Thursday but is unlikely to give much away about its next moves. The Frankfurt-based central bank made its first cut in June, reducing the key deposit rate to 3.75 percent from a record high of four percent.
AFP
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