Economy
Markets in retreat on growing fears of Middle East war
Asian markets tumbled Thursday on fears the Israel-Hamas crisis would spill over into a wider conflict in the Middle East, with some warning that a full-blown war was increasingly likely. "The window for a diplomatic off-ramp to avert a wider war in the Middle East appears to be closing," said RBC Capital Markets' Helima Croft.
US to ease Venezuela oil, gas sanctions after election deal
The United States will ease some oil and gas sanctions against Venezuela after the South American country's government and opposition agreed to hold elections next year, the Treasury Department said Wednesday.
Tesla disappoints in quarterly results as discounts bite
Tesla's results for the third quarter missed analyst estimates on Wednesday, as the Elon Musk-run company was hit by higher costs and the fallout from price discounts. Musk has undertaken multiple price cuts throughout 2023 on vehicles, telling investors in April that the company has taken the view that pushing for higher sales is the right choice versus taking a bigger margin.
Netflix gains subscribers with ads and password crackdown
Netflix on Wednesday said subscriber numbers grew more than 10 percent to 247 million in the recently ended third quarter as it cracked down on passwords and refined an ad-supported tier. The streaming service said in an earnings report that its nascent ad-supported offering was gaining traction, with the number of members increasing nearly 70 percent in the quarter.
Nigeria missing from top 10 African countries with highest employment rate, ILO release data
Data from the International Labour Organisation has revealed that Nigeria's unemployment rate is about 45.5%, above the 4.1% released by the NBS.
Empowering Economic Growth: SeedFi's Mission to Expand Credit Access
SeedFi aims to bridge the financing gap by reaching out to peri-urban populations, SMEs and others typically left out by traditional lending institutions.
Russia withdraws new ruble note after church complaint
Russia's central bank halted the circulation of a new 1,000 ruble note Wednesday after Orthodox priests complained that the image of a church dome lacked a cross, even though it does not have one in real life. The bank had presented new designs of the 1,000 and 5,000 ruble notes earlier this week.
Swedish Tesla workers to strike over union demands
Tesla mechanics in Sweden will walk off the job on October 27 unless the electric carmaker agrees to sign a collective wage agreement, the metalworkers union IF Metall said Wednesday. "Even though we have called for industrial action, it is our sincere hope that Tesla will begin to negotiate and sign a collective agreement for their employees in Sweden," IF Metall said. po/jll/rl
UK inflation stays elevated at in September
British inflation remained elevated in September, official data showed Wednesday, prolonging a cost-of-living crisis and stoking fear that UK interest rates could stay higher for longer.
Economy
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