Economy

Economy Latest News

UK court rules Apple abused App Store dominance
UK court rules Apple abused App Store dominance
by  AFP

Apple lost a UK lawsuit Thursday which accuses the US tech giant of abusing the dominant position of its App Store, with claimants seeking more than £1.5 billion ($2 billion) in damages. At the heart of the claimants' case was that Apple used the App Store to exclude competitors, forcing users to use its system and boosting profits in the process.

American Airlines reports smaller loss, sees travel demand improving
American Airlines reports smaller loss, sees travel demand improving
by  AFP

American Airlines reported a smaller than expected loss Thursday, pointing to robust travel demand from wealthier customers that has offset weakness among lower-income consumers. The big US carrier reported a loss of $114 million in the third quarter, smaller than the $149 million loss in the year-ago period and also better than analyst forecasts.

Zelensky urges EU to agree frozen assets loan
Zelensky urges EU to agree frozen assets loan
by  AFP

Ukraine's President Volodymyr Zelensky urged EU leaders Thursday to agree a mammoth new loan using Russian frozen assets, after US President Donald Trump buoyed Kyiv by hitting Moscow with sanctions.

China vows to boost consumption, national security after key meet
China vows to boost consumption, national security after key meet
by  AFP

China's ruling Communist Party said Thursday the country has to "vigorously boost consumption" and "consolidate national security" in the next five years, state media reported, as a key gathering concluded in Beijing. - 'Good at fighting' - China's leaders also vowed on Thursday to solidify national security, according to Xinhua.

EU parliament adopts curbs on plastic pellet pollution
EU parliament adopts curbs on plastic pellet pollution
by  AFP

The European Parliament on Thursday definitively adopted rules clamping down on pollution from the tiny pellets that constitute the building blocks of most plastic products. Made from fossil fuels, plastic pellets often spill into the environment, polluting beaches and oceans.

Europe plans satellite powerhouse to rival Musk's Starlink
Europe plans satellite powerhouse to rival Musk's Starlink
by  AFP

Three leading European aerospace groups announced Thursday a plan to merge their satellite operations to create a powerhouse for competing in particular against Elon Musk's Starlink internet system. In response, the European Union is planning to create its own internet satellite constellation called IRIS2, set to become operational in 2030.

French court convicts TotalEnergies over misleading climate claims
French court convicts TotalEnergies over misleading climate claims
by  AFP

A French court Thursday ruled oil and gas giant TotalEnergies had engaged in "misleading commercial practices" by overstating its climate pledges, in what activists said was the first such ruling worldwide against a major oil company for climate misinformation.