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Merz to host German auto sector crisis meeting
Merz to host German auto sector crisis meeting
by  AFP

Chancellor Friedrich Merz will Thursday host crisis talks with German auto industry leaders in a bid to navigate myriad challenges, from a looming EU combustion-engine ban to growing Chinese competition.

Stocks mixed as traders assess AI rally, US rates and shutdown
Stocks mixed as traders assess AI rally, US rates and shutdown
by  AFP

Asian markets were mixed Thursday as investors tried to assess the outlook for the global AI-fuelled rally, Federal Reserve interest rates and the ongoing US government shutdown. "AI is clearly a bubble," warned Neil Wilson at Saxo markets.

BBVA, Sabadell clash heats up ahead of takeover deadline
BBVA, Sabadell clash heats up ahead of takeover deadline
by  AFP

Tensions mounted ahead of the closing on Friday of Spanish banking giant BBVA's hostile takeover bid for smaller national rival Sabadell whose uncertain outcome will be announced on October 17. Shareholders have until Friday at 23:59 (2159 GMT) to accept or reject the offer whose outcome remains uncertain due to the large number of small Sabadell shareholders.

World economy not doing as badly as feared, IMF chief says
World economy not doing as badly as feared, IMF chief says
by  AFP

The global economy is doing better than expected, even as it faces prolonged uncertainty and underwhelming medium-term growth prospects, the head of the IMF said Wednesday. Against this backdrop, the Fund still expects global growth to remain at roughly three percent over the medium term, in line with previous forecasts -- below the 3.7 percent, on average, seen before the Covid-19 pandemic.

Veggie 'burgers' face the chop as EU lawmakers back labeling ban
Veggie 'burgers' face the chop as EU lawmakers back labeling ban
by  AFP

Plant-based "steaks" and "veggie burgers" may be on the way out in the European Union after the bloc's parliament voted Wednesday to restrict such labels to meat only, in a win for disgruntled farmers. It is not the first time veggie burgers have found themselves in the crosshairs of European lawmakers, with a similar proposal for a ban rejected in 2020.

Germany raises growth forecasts, but warns reforms needed
Germany raises growth forecasts, but warns reforms needed
by  AFP

Germany's economy will eke out meagre growth in 2025 before picking up speed next year, the government Wednesday said as it raised forecasts, but called for "decisive reforms" for a sustained recovery. In its latest forecasts, the economy ministry said it did not expect a third year of recession in 2025, although the economy would only grow 0.2 percent.