Economy
EU court rejects TikTok challenge against new EU digital rules
TikTok lost an appeal Wednesday to escape new digital rules that seek to rein in the power of big tech after an EU court rejected its challenge. It is the second defeat in the courts for TikTok over the DMA. It lost a bid in February to suspend the strict new rules pending the judgement handed down Wednesday.
Urban streetwear brand Supreme to go to French-Italian group
World eyewear leader EssilorLuxottica has agreed to buy Supreme, an American fashion and lifestyle brand focused on streetwear, by the end of the year, it said Wednesday. New York-based Supreme, whose trademark style focuses on a skateboarding lifestyle and pop-culture iconography, has been particularly successful with young affluent customers.
Richemont: luxury group in sights of LVMH'S Arnault?
The Swiss luxury group Richemont, which owns Cartier and other jewellery brands, is regularly the subject of takeover rumours which its founder, the South African billionaire Johann Rupert, always dismisses.
Naira recovers Against dollar as CBN ignores BDCs in latest Forex sales
The Nigerian currency, the naira, made a marginal recovery in the official foreign exchange market on Tuesday, July 16, 2024, trading at N1,576 to a dollar.
Boeing workers to vote on authorization of potential strike
Tens of thousands of Boeing hourly workers have been called Wednesday for a vote in Seattle expected to authorize a potential labor strike if ongoing contract negotiations stumble. The IAM says the early strike authorization vote will also provide legal notice to union officials to be prepared to administer strike pay to workers if a stoppage is called.
Spain's Aragon, Europe's new cloud storage oasis
The world's biggest technology firms are investing billions in cloud storage facilities in the northeastern Spanish region of Aragon, drawn to its abundance of renewable energy sources. At the end of May, Amazon said it was investing 15.7 billion euros ($17 billion) in the region through its AWS cloud computing division to expand its three existing data centres in Aragon, set up since 2022.
Danish insect farm sets sights on feeding Europe's livestock
At the end of a small country road in Denmark is the "Enorm" factory, an insect farm set up by a Danish woman who wants to revolutionise livestock feed. It is then distributed across Europe -- although Enorm remains discreet about the identity of its customers -- used for feed for pig, poultry, fish and pet farms.
Stockholm tests electric 'flying' ferry
One metre above the surface, a fully electric ferry is speeding across the waters of Stockholm as a Swedish company prepares to start taking its first regular passengers. The company, Candela, is due to start taking passengers between the island of Ekero and central Stockholm in October -- a busy route that should take 35 minutes with the new ferry, half the time it takes by land.
Climate change risk stirs oil market
From forest fires to hurricanes and other natural disasters: climate change risk is increasingly influencing oil prices, just as the world is struggling to shift away from high-polluting fossil fuels. Earlier this year meanwhile, oil market sentiment was jarred in May as forest fires broke out in Canada.
Economy
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