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Glencore takes majority stake in Canadian coal business
Glencore takes majority stake in Canadian coal business
Economy
by  AFP

Swiss commodities giant Glencore will acquire a majority stake in the steelmaking coal business of Canadian miner Teck Resources, the companies said on Tuesday, capping fraught negotiations between the groups. Vancouver-based Teck Resources put the value of its steelmaking coal business at $9.0 billion.

Apple supplier Foxconn says profits fuelled by holiday season demand
Apple supplier Foxconn says profits fuelled by holiday season demand
Economy
by  AFP

Key iPhone supplier Foxconn posted "better-than-expected" profits in its third quarter, with leadership on Tuesday attributing the surprise jump to demand ahead of the holiday season. "We have entered the traditional peak season in the second half and our operations are set to gradually improve quarter on quarter," CEO Young Liu said during an earnings call.

Musk's X fails to pay Australian watchdog fine
Musk's X fails to pay Australian watchdog fine
Technology
by  AFP

Elon Musk's X has not paid a fine imposed for failing to outline its plans to stamp out content depicting child sexual abuse on the platform, Australia's internet safety watchdog told AFP on Tuesday. Billionaire Musk has slashed more than 80 percent of X's global workforce since his takeover, including many of the content moderators who are responsible for stamping out abusive content.