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BP to develop new oil and gas fields in Iraq
Iraq signed an agreement with British energy giant British Petroleum on Thursday to develop four oil and gas fields in the northern province of Kirkuk. "The memorandum includes the rehabilitation and development of the four oilfields under the North Oil Company in Kirkuk: the Kirkuk oilfield, Bai Hassan, Jambur and Khabbaz oilfields," the statement said.
In world first, EU's sweeping AI law enters into force
The European Union's landmark law on artificial intelligence came into force on Thursday, which Brussels vows will drive innovation while protecting citizens' rights.
Olympics tech partner Atos posts huge loss
Debt-strapped French tech giant Atos, a key Olympics partner, on Thursday posted a 1.9-billion-euro ($2.1 billion) loss for the first half of the year due to a depreciation of assets and the end of contracts in the Americas. The first-half loss is largely due to a depreciation of assets totalling 1.5 billion euros.
South Korea union pickets outside Samsung chairman's house
Leaders of a South Korean union representing tens of thousands of workers at Samsung Electronics staged a protest Thursday outside the house of the company's chairman and heir, after fresh negotiations failed. Union executives gathered on Thursday outside Samsung Chairman Lee Jae-yong's house, holding pickets that read "Samsung Electronics' strike, Lee Jae-yong should be accountable".
Weak yen helps Toyota compensate for Japan problems
Toyota reported a modest rise in first-quarter net profits on Thursday as a weak yen and cost cuts helped the Japanese auto giant overcome a drop in production and sales in its home market. Toyota last year reported record bumper results, with net profit doubling to 4.94 trillion yen and revenues soaring by a fifth to 45.1 trillion yen, helped by strong sales of hybrid vehicles.
Police clash footage shocks Bangladesh as internet returns
When millions of Bangladeshis came back online this week after a nationwide internet shutdown, many were shocked to watch a ferocious police clampdown they had earlier only heard while bunkered in their homes.
Most stocks rise on Fed rate cut hope but strong yen batters Tokyo
Most equity markets rose Thursday after the Federal Reserve flagged a possible interest rate cut next month, but Tokyo's Nikkei tumbled on a stronger yen following a hike by the Bank of Japan. "We continue to expect that the Federal Reserve will cut rates in September and December, followed by four 25 basis point reductions in 2025," said JP Morgan Asset Management's Raisah Rasid.
Bank of England to finally cut interest rate?
The Bank of England announces its latest interest-rate decision Thursday, with analysts split on whether it will cut for the first time since the Covid pandemic after inflation's retreat. They add that its decision could depend on the BoE's latest forecast for British economic growth, which is due alongside Thursday's rate call.
Meta shares rise as earnings top expectations
Meta on Wednesday reported profit of $13.5 billion in the recently ended quarter, beating market expectations and causing its share price to jump. The impressive profit came even though Meta's Reality Labs unit, devoted to virtual and augmented reality products, lost $4.5 billion, which was more than analysts expected.
AFP
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