Economy
Oil demand growth slowing, China consumption dips: IEA
The International Energy Agency trimmed its forecasts Thursday as it said world oil demand growth continues to slow and consumption in China dipped. "Oil consumption in China, long the engine of global oil demand growth, contracted in both April and May" the IEA said in its monthly report on the oil market.
Cocoa price surge eats into Barry Callebaut sales volumes
The world's top industrial supplier of chocolate, Barry Callebaut, reported Thursday a dip in sales volumes in its latest quarter as a jump in cocoa prices bit into demand. Barry Callebaut supplies cocoa and other chocolate products to food industry giants including Hershey, Nestle and Unilever.
Romania faces down Vuitton for 'stealing' its beloved blouse
Villagers in Vaideeni at the foot of Romania's Carpathian mountains are fuming at French luxury brand Louis Vuitton for "stealing" the design of their traditional blouse.
Ukraine relies on friends as Russia strikes power grid
With Russian attacks on energy infrastructure causing power cuts, Ukraine is depending on its central and eastern European neighbours to keep the lights on. Ukraine's electricity imports from neighbours Hungary, Moldova, Poland, Romania and Slovakia have been growing steadily for months as Russian attacks on its power system have intensified.
China building more wind, solar capacity than rest of world combined: report
China is building almost twice as much wind and solar energy capacity as every other country combined, research published Thursday showed. However, China's combined wind and solar capacity is set to overtake coal this year, according to the report.
Asian markets track Wall St records after Powell hints at rate cut
Asian stocks on Thursday tagged along with a Wall Street rally that saw another round of record highs as bets on a September interest rate hike surged following comments by Federal Reserve boss Jerome Powell.
Archegos founder Bill Hwang guilty in multibillion-dollar fraud case
The founder of US investment firm Archegos, Bill Hwang, was found guilty Wednesday of fraud and market manipulation in a case focused on the fund's 2021 implosion that cost major banks billions of dollars.
Amazon tribes win lawsuit over carbon credits in Colombia
Colombia's Constitutional Court on Wednesday annulled a controversial carbon credit deal in the Amazon rainforest, which six local tribes said had been signed without their consent. But the tribes said the deal was signed with false representatives of their communities.
CNN plans to launch paid streaming service, cut 100 jobs
CNN, which has struggled amid the decline of the US cable broadcasting industry, plans to launch a new paid streaming service and to cut about 100 jobs, the company's CEO said Wednesday. CNN had unveiled a short-lived for-pay streaming service in 2022 before quickly pulling the plug due to the merger between CNN parent company WarnerMedia and Discovery.
Economy
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