Economy
EU negotiators reach deal on methane emission curbs
Negotiators for the EU's member states and lawmakers on Wednesday reached a deal on new rules to curb methane emissions which would put new reporting requirements on the coal, gas and oil industry. It requires the fossil fuel energy sector to have new measures to track and monitor methane gas emissions, and to prevent leaks.
Dubai plans new mega-airport as Mideast competition hots up
Dubai is forging ahead with plans to replace the world's busiest airport with an even bigger one as passenger traffic recovers to outstrip pre-pandemic levels, a top official told AFP on Wednesday. Griffiths was speaking as new figures forecast 86.9 million passengers at Dubai International this year, surpassing 2019 traffic and underlining the recovery from the pandemic.
After rescue deal, Siemens Energy unveils massive loss
Siemens Energy reported a 4.59-billion-euro ($5-billion) annual loss Wednesday, dragged down by a crisis in its wind power unit, a day after a government-backed rescue package was unveiled for the German group.
UK inflation falls sharply, relieving pressure on PM Sunak
UK inflation fell more than expected in October, data showed Wednesday, easing a cost-of-living crisis and relieving pressure on Prime Minister Rishi Sunak. US consumer inflation cooled more than expected last month, government data showed Tuesday.
China retail sales surge in October but economy remains sluggish
Chinese retail sales grew in October at the fastest rate in five months, data showed Wednesday, boosted by an extended holiday at the start of the month, though other indicators pointed to still-sluggish demand in the world's number-two economy.
German govt spending plans at risk as court rules
Germany's top court will decide Wednesday whether the government broke debt rules enshrined in the constitution, potentially throwing its spending plans into disarray and further fuelling tensions in the ruling coalition.
Asia extends global rally as US inflation slows more than thought
Equities surged Wednesday and the dollar struggled after slower-than-forecast US inflation was seen as all but putting to bed any chance of another interest rate hike, and even allowed traders to bet on a series of cuts in the new year. Data suggests they are now betting on as much as a one percentage point cut in rates through next year.
A shirt for rice: bartering to survive in inflation-battered Argentina
An old T-shirt for a handful of rice or some eggs: ever more Argentines are relying on barter to survive in a fast-worsening economy dominating the debate ahead of presidential elections Sunday. In and around the teeming Argentine capital, it is an increasingly common sight for people to knock on doors asking for second-hand clothes to wear, barter or sell.
Japanese economy shrinks 0.5 percent in third quarter
Japan's economy contracted by a worse-than-expected 0.5 percent in the third quarter, government data showed Wednesday, in a further blow to struggling Prime Minister Fumio Kishida. The shrinking of the world's number three economy, following two consecutive quarters of growth, was worse than the market consensus of a 0.1 percent contraction.
Economy
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