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BUENOS AIRES, Dec 21, 2023 (AFP) – -Argentina’s new leader Javier Milei on Wednesday unveiled a series of measures to deregulate the country’s struggling economy, eliminating or changing more than 300 rules via presidential decree, including on rent and labor practices. “The goal is to start along the path to rebuilding the country… and start to undo the huge number of regulations that have held back and prevented economic growth,” Milei said in a televised […]
TOKYO, Dec 21, 2023 (AFP) – Japanese officials on Thursday started an on-site inspection at the headquarters of Toyota subsidiary Daihatsu, the transport ministry said, after an investigation found it had rigged safety tests and was forced to suspend all shipments of its vehicles. The independent probe found the malpractice dated back to 1989 and led Toyota to express its “sincere apologies” and pledge to carry out “a fundamental reform”. The panel was set up […]
WASHINGTON, Dec 19, 2023 (AFP) – Pharmacy group Rite Aid was ordered Tuesday to stop using facial recognition for the next five years by a US regulator, which said the company falsely identified consumers as shoplifters using the technology. The case touches on one of the main concerns about the proliferation of artificial intelligence, and facial recognition in particular, which is deemed to potentially misidentify or discriminate against individuals, especially non-whites and women. “Rite Aid’s […]
TOKYO, Dec 20, 2023 (AFP) – Toyota subsidiary Daihatsu said Wednesday it will suspend shipments of all car models currently in production both at home in Japan and abroad, following new revelations about its rigging of safety tests. “Daihatsu decided today to temporarily suspend shipments of all Daihatsu-developed models currently in production, both in Japan and overseas,” the auto titan said in a statement following a report by an independent panel. The panel was […]
HONG KONG, Dec 20, 2023 (AFP) – Asian stocks rallied Wednesday, following another record performance on Wall Street as traders continue to bet on the US Federal Reserve slashing interest rates several times next year. The advances come even as central bank officials try to push back against expectations, which have set markets up for a healthy end-of-year rally. The next key event this week will be the release of the US personal consumption expenditures […]
By Didier LAURAS PARIS, Dec 19, 2023 (AFP) – A multinational naval task force to protect a key global shipping lane from Yemen’s Huthi rebels would face severe challenges in a difficult strategic and military context, experts say. The United States has been pushing for such a force after Huthis pledged to continue attacking cargo ships in the Red Sea in support of Palestinians in the Gaza war raging between Israel and militant group Hamas. […]
By Hashem Osseiran DUBAI, Dec 19, 2023 (AFP) – The United States pushed Tuesday to build up a multinational naval task force to protect a key global shipping lane from Yemen’s Huthi rebels, who pledged to keep up their attacks on cargo ships in the Red Sea. The Iran-backed Huthis say their missile and drone strikes on passing container ships are in support of Palestinians in the Gaza war raging between Israel and militant group […]
DUBAI, Dec 19, 2023 (AFP) – The United States condemned “unprecedented” attacks by Yemeni rebels on Red Sea shipping as the Huthis pledged Tuesday to continue military operations despite the announcement of a new maritime protection force. The flurry of drone and missile attacks by the rebels, the latest of which targeted two vessels on Monday, threaten to upend global trade flows, with major shipping firms halting traffic through the Bab al-Mandeb strait. Pentagon chief […]
TOKYO, Dec 18, 2023 (AFP) – Japan’s Nippon Steel has agreed to buy US Steel Corp for $14.1 billion, the companies announced on Monday, months after the steelmaker rejected an offer from its main US rival. The leading Japanese steelmaker will acquire US Steel in an all-cash deal at $55 per share, a 40 percent premium above its closing price on December 15, representing an equity value of about $14.1 billion, the companies said in […]
By Jing Xuan TENG SHANGHAI, Dec 15, 2023 (AFP) – Chinese social media users reported on Friday that they had been warned against posting “pessimistic” views about the economy, in a sign of growing political sensitivity as China struggles to boost growth. China’s economy is battling headwinds on multiple fronts and Beijing’s leadership said this month its recovery was confronting “difficulties and challenges”. Several people told AFP that social media platform Weibo had sent them […]
WASHINGTON, Dec 14, 2023 (AFP) – US regulators have identified the use of artificial intelligence as a vulnerability in the financial system for the first time, according to a report released on Thursday. There is a need to monitor “rapid developments in AI, including generative AI, to ensure that oversight structures keep up with or stay ahead of emerging risks to the financial system,” said the Financial Stability Oversight Council (FSOC) in its annual report. […]
NEW YORK, Dec 14, 2023 (AFP) – Electric car maker Tesla has initiated a recall of over two million vehicles in the United States and Canada due to risks associated with the autopilot software, national regulators said Wednesday. In cases where vehicle operators misuse Tesla’s driver-assistance program or fail to recognize when the system won’t work well, “there may be an increased risk of a collision,” said a notice from the US National Highway Traffic […]
