Economy
Global music biz sees 10.2% growth in 2023: industry
Global music revenues were up 10.2 percent last year to $28.6 billion, according figures released Thursday, but record firms are concerned over how to maintain growth in the streaming era. The music industry grew for the ninth consecutive year, thanks largely to the continued growth of streaming (up 11.2 percent), which now accounts for more than two-thirds (67.3 percent) of global revenues.
Leaders tout nuclear power as climate tool at Brussels summit
More than 30 countries -- including European nations, the United States, Brazil and China -- took part on Thursday in the first-ever summit held by the United Nations' atomic energy agency to promote nuclear as a "clean and reliable source of energy".
Turkey's central bank hikes interest rate to 50%
Turkey's central bank hiked its key interest rate on Thursday, resuming its tightening cycle as one of the world's highest inflation rates rose again last month. The central bank said Thursday that its "monetary policy stance will be tightened in case a significant and persistent deterioration in inflation is foreseen".
Switzerland becomes first developed economy to cut interest rate
The Swiss National Bank cut interest rates on Thursday -- the first to do so among the major central banks, saying the battle against inflation was working almost two years after launching its monetary tightening campaign. And the Norwegian central bank on Thursday kept its key interest rate unchanged at 4.5 percent but signalled it could start cutting later this year.
High inflation in Turkey dampens Ramadan's high spirits
As the sun sets over the Bosphorus, a long queue forms on a street in Istanbul as people wait for iftar -- the evening meal that breaks Ramadan's daily fast. - Fraternity in hard times - One hour before iftar, several hundred worshippers wait impatiently before the tent where the meals will be served after sunset.
In Spain, hi-tech hops keep beer bitter as climate bites
Outside the warehouse in northwestern Spain, it's a freezing, foggy morning but inside it's balmy, the warmth and LED lights fooling 360 hop plants to flower as if it were late August. "In this warehouse, we control all the environmental and nutrient parameters and the lighting factors, using LED lights to provide the plant what it needs when it needs it," said Sagrario.
Nuclear's EU comeback on show at Brussels summit
Promoting nuclear power was long taboo in Brussels, but a high-profile international summit Thursday will send loud and clear the message that atomic energy -- now touted by its champions as key to fighting climate change -- is back.
Bank of England to hold rate despite slowing inflation
The Bank of England is widely expected to keep its main interest rate at a 16-year high Thursday, rejecting a cut as inflation remains well above target despite recent slowing. Britain entered recession in the second half of last year but with inflation remaining well above the BoE's two-percent target, the central bank is widely expected to freeze interest rates for a few months longer.
Asian stocks track Wall St record after Fed keeps rate projection
Asian markets rallied Thursday after Wall Street's record-breaking day as traders welcomed news that the Federal Reserve still saw three interest rate cuts this year even after recent data pointed to a bounce in inflation.
Economy
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