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Stocks slide, oil holds gains on Middle East, economy concerns
Stocks slide, oil holds gains on Middle East, economy concerns
Economy
by  AFP

Asian stocks sank Thursday, tracking a retreat on Wall Street fuelled by a surge in US Treasuries and worries over a possible escalation of the Middle East crisis, which also helped oil hold the previous day's rally. A plunge in Alphabet and Texas, as well as Amazon ahead of its report later Thursday, hit Wall Street, with the tech-rich Nasdaq tanking more than two percent.

Stellantis to buy stake in Chinese EV start-up Leapmotor
Stellantis to buy stake in Chinese EV start-up Leapmotor
Economy
by  AFP

Global carmaker Stellantis said Thursday it will buy a 20 percent stake in Chinese electric car maker Leapmotor, making it the latest European brand seeking a foothold in the country's highly competitive market via partnerships with local manufacturers. Other European manufacturers have also stepped up partnerships with Chinese companies to win over local customers.

ECB set to pause rate hikes as eurozone feels pinch
ECB set to pause rate hikes as eurozone feels pinch
Economy
by  AFP

European Central Bank policymakers are widely expected to leave interest rates unchanged when they meet in Athens on Thursday, as their previous policy moves seemed to be biting. - 'Clear impact' - ECB policymakers were in "watch and see" mode Thursday, Ducrozet said, with new official forecasts only set to be published at the governing council's next meeting in December.

A year after Musk's Twitter takeover, X remains mired in turmoil
A year after Musk's Twitter takeover, X remains mired in turmoil
Technology
by  AFP

A year ago Elon Musk purchased X, formerly known as Twitter, taking the platform on a journey that has resulted in lost money, advertisers and trust. - Money matters - Over the past year, the platform's advertising business partially collapsed as marketers soured on X. Insider Intelligence forecasts that X will finish 2023 with $2.98 billion in ad revenue, compared to $4.14 billion in 2022.