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Mel B, Trump and Milei: What happened at Davos Wednesday

Even when Donald Trump wasn't in the room or even the main theme, the US president kept coming up again Wednesday at the gabfest of global elites in the Swiss resort of Davos.

Argentina's Milei says would leave Mercosur for US trade deal

Argentina's President Javier Milei said Thursday he would be willing to leave the South American Mercosur bloc if necessary to secure a coveted trade agreement with the United States.

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French researchers aim to ease X refugees' path with 'HelloQuitX'

French researchers have developed an application to help users migrate their whole online community from Elon Musk's X to rival social platforms such as Bluesky or Mastodon.

China property giant Vanke's CEO 'taken away' by police: report

The head of one of China's biggest property firms has been "taken away" by police, state-backed media reported Thursday, as a prolonged housing slump continues to hit the world's second-largest economy.

Oil giant BP cuts thousands of jobs to slash costs

British energy giant BP on Thursday said it would axe 4,700 staff jobs, or about five percent of its workforce, and is cutting thousands of contractor roles to reduce costs.

EU announces 120 mn euros in Gaza aid after ceasefire

The EU said Thursday it would deliver 120 million euros ($123 million) in new aid for war-torn Gaza, a day after the announcement of a ceasefire and hostage release deal.

Stock markets jump as inflation worries ease

Stock markets jumped Thursday after below-forecast US inflation data provided a much-needed shot of relief to investors and revived hopes of further cuts to interest rates.

China to probe US chips over dumping, subsidies

China said Thursday it would launch a probe into US exports of chips used in everything from cars to home appliances over concerns about alleged dumping and subsidies.

India's outcast toilet cleaners keeping Hindu festival going

Millions of pilgrims hoping to cleanse their sins by ritual baths at India's Kumbh Mela festival rely on key lavatory workers to clear up behind them -- those born on the lowest rung of the Hindu caste system.

Apple loses top spot in China smartphone sales to local rivals

Apple lost its status as the best selling smartphone brand in the crucial Chinese market last year, new data showed Thursday, with a pair of local rivals surpassing it with surging shipments.

Sri Lanka signs landmark $3.7 bn deal with Chinese state oil giant

Sri Lanka has secured its biggest-ever foreign investment after signing a deal with Chinese state-run oil giant Sinopec, officials said on Thursday.

UK economy rebounds but headwinds remain for govt

Britain's economic growth rebounded less than expected in November, official data showed Thursday, dealing a fresh blow to a Labour government that is battling headwinds.

Stocks follow Wall St higher on welcome US inflation data

Markets extended a global rally Thursday after below-forecast US inflation provided a much-needed shot of relief to investors and revived hopes for interest rate cuts this year.

Chinese give guarded welcome to spending subsidies

Beijing is hoping subsidies for rice cookers, microwave ovens and smartphones can boost sluggish spending and help the country weather an economic storm from incoming US president Donald Trump.

World Bank plans $20 bn payout for Pakistan over coming decade

The World Bank plans to loan cash-strapped Pakistan $20 billion over the coming decade to nurture its private sector and bolster resilience to climate change, Prime Minister Shehbaz Sharif said.

Indian Bollywood star Saif Ali Khan stabbed in burglary

Indian Bollywood star Saif Ali Khan underwent surgery Thursday after he was repeatedly stabbed in an apparent burglary at his home in Mumbai, his public relations team said.

Taiwan's TSMC says net profit rose 57% in fourth quarter

Taiwanese chipmaking giant TSMC on Thursday announced a better-than-expected net profit for the fourth quarter as it benefits from booming demand for AI technology.

Herbicide under US scrutiny over potential Parkinson's link

First came the slow hand movements, then the tremor, and now the looming fear of what lies ahead.

US consumer inflation rises in December but underlying pressures ease

US consumer inflation rose for a third straight month in December as energy prices jumped but a widely watched measure eased slightly, raising hopes that underlying inflation may be moderating.

US bank profits rise as Wall Street hopes for merger boom

Large US banks reported soaring profits Wednesday propelled by strength in trading and financial advisory services as Wall Street eyes a potential merger boom under the incoming Trump administration.

Methane leaks from Nord Stream pipeline blasts revised up: studies

A series of underwater explosions that ruptured the Nord Stream gas pipelines in 2022 caused the largest known methane leak on record from a single incident, according to new research published on Wednesday.

Death toll at illegal S.African mine reaches 78

Rescuers pulled more bodies from a disused gold shaft in South Africa where the toll climbed to 78 Wednesday as police try to clear out illegal miners who have been underground for months.

US consumer inflation rises December but underlying pressures ease

US consumer inflation rose for a third straight month in December as energy prices jumped but a widely-watched measure eased slightly, raising hopes that underlying inflation may be moderating.

Stock markets get boost from bank earnings, inflation data

Stock markets surged on Wednesday, buoyed by robust US bank earnings and encouraging inflation data from the United States and Britain.

Mozambique's new president vows 'unity' as sworn in amid deadly protests

Mozambique's new president Daniel Chapo vowed to unite the country Wednesday upon taking the oath of office under heavy guard following weeks of deadly political unrest.

Syria sex abuse survivors need aid, says Nobel winner Mukwege

Survivors of sexual violence emerging from Syria's prisons need reparations, urged Nobel laureate Denis Mukwege, renowned for his work with victims of sexual violence during conflict.

Spain hosted record 94 mn foreign tourists in 2024

A record 94 million foreign tourists craving for sun, sand and culture flocked to Spain in 2024 as the sector drives the country's bullish economy, the tourism minister said on Wednesday.

European stocks climb as inflation takes centre stage

European stock markets rose Wednesday as traders focused on inflation data in Britain and the United States.

BP nears deals for oil fields, curbs on gas flaring in Iraq

Iraq and British oil giant BP are set to finalise a deal by early February to develop four oil fields in Kirkuk and curb gas flaring, Iraqi authorities announced Wednesday.

Mozambique inaugurates new president after deadly post-election unrest

Mozambique's new president Daniel Chapo took the oath of office Wednesday in front of a heavily guarded audience of dignitaries in the capital Maputo following weeks of violent demonstrations over the fiercely disputed election results.

Syrian activists work to avoid return to dictatorship

In a Damascus courtyard, Syrian activists brainstormed strategies to ensure their country does not return to authoritarianism, in a scene unimaginable under president Bashar al-Assad's rule.

Beijing 'firmly opposes' US ban on smart cars with Chinese tech

Beijing on Wednesday said it "firmly opposes" a US move to effectively bar Chinese technology from smart cars in the American market, saying alleged risks to national security were "without any factual basis".

Equities mixed as US inflation, China data loom

Stock markets were mixed Wednesday as traders assess the economic outlook ahead of Donald Trump returning to the White House next week, with focus now on the release of key US inflation data.

UK inflation dips, easing some pressure on government

Britain's annual inflation rate unexpectedly fell to 2.5 percent last month, official data showed Wednesday, easing some pressure on the Labour government faced with economic unrest.

The Japan Times - Economy (English)