Economy

EU parliament adopts 'historic' rules on AI
EU parliament adopts 'historic' rules on AI

The European Parliament gave final approval on Wednesday to wide-ranging EU rules to govern artificial intelligence, including powerful systems like OpenAI's ChatGPT. Senior European Union officials say the rules, first proposed in 2021, will protect citizens from the possible risks of a technology developing at breakneck speed, while also fostering innovation on the continent.

Musk visits Tesla's sabotage-hit German factory
Musk visits Tesla's sabotage-hit German factory

Elon Musk travelled Wednesday to Tesla's factory near Berlin to lend his workers "support" after the plant was forced to halt production by a suspected arson attack on nearby power lines. With his son X AE A-XII in his arms, Musk said: "I am here to support you."

Wronged UK postmasters to have convictions quashed
Wronged UK postmasters to have convictions quashed

Britain's government was set to unveil legislation Wednesday to exonerate hundreds of UK Post Office workers wrongly prosecuted over faulty computer software, in one of the country's worst miscarriages of justice.

Australian wine industry toasts expected end to China tariffs
Australian wine industry toasts expected end to China tariffs

The Australian wine industry welcomed news on Wednesday that China could begin lifting punitive tariffs within weeks, raising hopes that the country's red wine glut will soon ease. Industry body Grape and Wine's chief executive Lee McLean welcomed the indication of tariff relief.

Volkswagen's 2023 profits rise, outlook for this year cautious
Volkswagen's 2023 profits rise, outlook for this year cautious

German auto giant Volkswagen on Wednesday reported a forecast-beating rise in profits for 2023, boosted by higher vehicle deliveries, but gave a cautious outlook for this year. Looking ahead, the German auto giant expects vehicle deliveries to advance in 2024, but by up to just three percent, due to tougher international competition and potential supply chain problems.

Cathay Pacific 'is back' with first annual profit since 2019
Cathay Pacific 'is back' with first annual profit since 2019

Hong Kong carrier Cathay Pacific on Wednesday reported its first annual net profit in four years, citing a surge in demand as it emerges from the impact of the financial hub's Covid isolation. "The year was characterised by a notable surge in travel demand following three years of pandemic-related restrictions."