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Asian markets up on hopes over shutdown deal, rate cut
Asian markets up on hopes over shutdown deal, rate cut
by  AFP

Equities rose in Asia on Wednesday as the US shutdown nears an end and after fresh jobs data boosted the chances of a third successive Federal Reserve interest rate cut. Adding to the upbeat mood was expectations for a Fed rate cut in December after data from private payrolls firm ADP showed US companies shed 11,250 jobs per week on average in the four weeks ended October 25.

Bangladesh's liquor industry a surprising success
Bangladesh's liquor industry a surprising success
by  AFP

Syrupy aromas drift across the guarded compound of Bangladesh's only licensed distillery, a state-owned producer posting record profits in the Muslim-majority nation, where Islamists are staging a political comeback. Carew provides the only source of regulated liquor -- alongside a separate brewery producing Hunter, Bangladesh's only beer, owned by the Jamuna Group conglomerate.

Google unveils $6.4 bn investment in Germany
Google unveils $6.4 bn investment in Germany
by  AFP

Google unveiled its biggest-ever investment in Germany on Tuesday, pledging 5.5 billion euros ($6.4 billion) for a new data centre and other projects, as Europe seeks to catch up in the AI race.

UK court jails Chinese bitcoin fraudster for over 11 years
UK court jails Chinese bitcoin fraudster for over 11 years
by  AFP

A Chinese woman who masterminded a multibillion-dollar bitcoin scam and evaded authorities for years was sentenced to 11 years and eight months in jail by a UK court Tuesday. The court heard that she evaded UK authorities for around six years.

Fanfare as Guinea launches enormous Simandou iron ore mine
Fanfare as Guinea launches enormous Simandou iron ore mine
by  AFP

Authorities in Guinea on Tuesday officially launched production at Simandou, a gigantic mining project that they hope will propel the poor west African country into the ranks of the world's largest iron exporters. Doumbouya, who came to power in a 2021 coup, declared the day a public holiday, a sign of the importance authorities have attached to the mine.

German court rules against OpenAI in copyright case
German court rules against OpenAI in copyright case
by  AFP

A German court ruled Tuesday that OpenAI has infringed copyright law by using song lyrics to feed its chat models in a case that could have wide implications for European artists. "Both the memorisation in the language models and the reproduction of the song lyrics in the chatbot's outputs constitute infringements of copyright law," the court ruled.

'Splinternets' threat to be avoided, says web address controller
'Splinternets' threat to be avoided, says web address controller
by  AFP

The risk of the internet fragmenting into national "splinternets" will likely be averted in a UN vote next month, the head of the authority that manages web addresses told AFP on Tuesday. But ICANN has warned that any such move could lead to a fragmented "splinternet" in which it could prove expensive or impossible for people to connect across separate address systems.

UK unemployment jumps to 5% before key govt budget
UK unemployment jumps to 5% before key govt budget
by  AFP

Britain's unemployment rate rose more than expected to five percent in the third quarter, the highest level since early 2021, official data showed Tuesday ahead of a key UK government budget.

AI stock boom delivers bumper quarter for Japan's SoftBank
AI stock boom delivers bumper quarter for Japan's SoftBank
by  AFP

Japan's SoftBank Group reported Tuesday that net profit more than doubled in the second quarter thanks to a boom in AI-related share prices that has fuelled fears of a market bubble. But that has fed concerns of a market bubble that could eventually burst, like the dot-com boom that imploded at the turn of the millennium.