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The Federal Reserve has decided to keep interest rates between 3.5% and 3.75%. Two Fed governors voted against the move, and instead backed a rate cut, while 10 officials were in favor of leaving rates the same.The US Federal Reserve on Wednesday announced that...

Tesla profit slumps amid lower EV sales, AI spending surge

With increased competition and heavy attention on the antics of the company's CEO, Tesla's core electric vehicle business has faltered in the past year.Tesla's annual profit sank to its lowest level in years as the company faces an array of challenges from increased competition...

Amazon cuts more corporate jobs in post-pandemic downsize

Amazon told employees that it was cutting 16,000 corporate jobs, completing a downsizing move that began last year. The online retail giant had recruited during a COVID pandemic spike in demand.Amazon confirmed a further 16,000 job cuts in its corporate sector in a blog...

Elon Musk mulls buying Ryanair amid spat with airline boss

Elon Musk has asked his followers on X if he should buy Ryanair after a spat with the European budget airline's outspoken CEO Michael O'Leary.US tech mogul Elon Musk has hinted at buying Ryanair amid a public quarrel with the low-cost airline's boss Michael...

EU and Mercosur countries to sign landmark free trade deal

The agreement took 25 years to negotiate and will create one of the world's largest free trade zones. The trade deal will be signed, despite opposition from some European farmers.The European Union and South American bloc Mercosur will sign a long-delayed free trade agreement...

European firms hit hiring brakes over AI and slowing growth

COVID flipped workplace power toward employees as remote work became the norm. Today, with Europe's industrial slowdown and AI automation, workers are growing increasingly wary of switching jobs.For a short time during and after COVID, Europe's workers enjoyed rare leverage over their employers. Generous...