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With Shein, Temu rising, EU to overhaul consumer protection rules
With Shein, Temu rising, EU to overhaul consumer protection rules
by  AFP

Faced with the explosive growth of online shopping platforms like Shein and Temu, the EU executive said on Wednesday it was time to reform consumer protection rules to match the new reality in e-commerce. "We must ensure that EU consumer law continues to provide strong protection, safeguarding consumer autonomy and freedom of choice," EU commissioner Michael McGrath said.

Mammoth German rail project hits the buffers - again
Mammoth German rail project hits the buffers - again
by  AFP

The opening of a mammoth German rail project, which has become emblematic of the infrastructure woes plaguing Europe's biggest economy, has been delayed yet again, reports said Wednesday. The project has come to symbolise the deterioration of German rail services in recent years, and more broadly the country's infrastructure, from crumbling bridges to patchy internet coverage.

Netherlands halts Nexperia takeover in gesture to China: minister
Netherlands halts Nexperia takeover in gesture to China: minister
by  AFP

The Netherlands has suspended its proposed takeover of Chinese-owned chip maker Nexperia in a sign of "good will" towards Beijing, Dutch Economy Minister Vincent Karremans said Wednesday. On Wednesday, Karremans said that "in light of recent developments, I consider it the right moment to take a constructive step by suspending my order under the Goods Availability Act regarding Nexperia".

China passes US to return as Germany's top trade partner
China passes US to return as Germany's top trade partner
by  AFP

China has reclaimed its title as Germany's top trading partner, dethroning the United States after President Donald Trump launched his tariff onslaught, official data showed Wednesday. China had already been Germany's top trading partner from 2016 to 2023 but the United States jumped into the top spot in 2024, as Berlin sought to reduce a long-standing economic reliance on China.

Roblox game platform launches age checks for chat
Roblox game platform launches age checks for chat
by  AFP

Gaming giant Roblox Corp says it will roll out compulsory facial recognition or ID checks from next month for players wanting to access its chat features. "Age checks are completely optional; however, features like chat will not be accessible unless the age check is complete," said Roblox, whose platform allows players to create their own online gaming worlds.

Why is bitcoin plunging?
Why is bitcoin plunging?
by  AFP

The value of bitcoin has fallen sharply since reaching record heights last month, briefly falling below $90,000 on Tuesday compared with above $126,000 at the start of October. - Bitcoin lost one quarter of its value between striking the early October record and falling under $90,000 on Tuesday.

South Africa to host G20 summit boycotted by US
South Africa to host G20 summit boycotted by US
by  AFP

South Africa will host the G20 summit this weekend, aiming to secure commitments on debt relief for developing countries and to tackle global inequalities as the United States boycotts the event.

Asian markets bounce as Nvidia takes centre stage amid AI bubble fears
Asian markets bounce as Nvidia takes centre stage amid AI bubble fears
by  AFP

Asian investors battled Wednesday to kickstart a recovery in equities following the latest stagger across world markets that has been caused by worries over an AI-fuelled bubble and uncertainty over US interest rates. Also in sight this week is the planned release of key US data, particularly on jobs creation, which will be closely read over for an idea about the Fed's plans for interest rates.

India's Bollywood battles paid reviews and fake sale claims
India's Bollywood battles paid reviews and fake sale claims
by  AFP

India's $60-billion Bollywood industry is facing a deepening credibility crisis, as insiders warn that manipulated film reviews and inflated box office numbers are distorting public perception, ultimately hurting ticket sales. Experts warn that falsifying box office data has lasting consequences, from inflated star salaries to shrinking opportunities for new talent.