With the Italian banking system in the spotlight, analysts have highlighted that Germany’s lenders are still not out of the woods, saying shipping loans and too many bank branches are some of the very real problems they are currently facing. German officials repeatedly tell EU members from the south of Europe to restructure their banking […]
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Italy swoops in to save another bank leaving taxpayers on the hook for over $25 billion
The Italian state has stepped in with funding to save yet another failing bank, meaning taxpayers now stand responsible for over 22 billion euros ($25.4 billion) of bailout money recently extended to the sector. Finance Minister Pier Carlo Padoan announced late Tuesday that the government had received approval from the European Commission to pump 5.4 […]
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Trials linked to downing of passenger flight MH17 to be held in Netherlands
Suspects in the 2014 downing of passenger flight MH17 in eastern Ukraine will be tried in Dutch court and under Dutch law, the Netherlands’ foreign ministry said on Wednesday. The decision follows attempts, blocked by Russia in 2015, to set up an international court over the incident, which killed all 298 people aboard the Malaysia […]
Read moreSex robots will be unlikely to prevent sex crimes like rape and pedophilia and could actually “reinforce illicit sexual practices”, a new report by robotics experts suggests. The paper, called “Our Sexual Future With Robots” by the non-profit Responsible Robotics, addresses a wide range of topics related to sex robots. One section focuses on the […]
Read moreThe U.S. may need to re-think its current North Korea strategy of asking China to step up efforts to rein in an increasingly-aggressive Pyongyang as it attempts to become a nuclear power, experts said on Wednesday. That followed another missile launch by the North on Tuesday, which the U.S. confirmed to be an intercontinental ballistic […]
Read moreEven as Singapore faces brighter economic prospects this year, one sector could remain a sticking point for the export-reliant country. Citi pointed the finger at oil and gas in a research note published on Tuesday. The Southeast Asian city-state is home to the world’s largest offshore rig builders, Keppel Corporation and Sembcorp Marine, who had […]
Read moreChina shouldn’t squander a major opportunity to lead artificial intelligence development in the world, top Baidu executives said in Beijing on Wednesday. The world’s second-largest economy must seize on this “historic opportunity,” said Baidu COO Lu Qi in a speech at a company conference for developers. China was well-positioned to influence the development as its […]
Read moreGeely-owned Volvo Car Group said on Wednesday all new models launched from 2019 will be fully electric or hybrids, spelling the eventual end to nearly a century of Volvos powered solely by the internal combustion engine. The Gothenburg-based company will continue to produce pure combustion-engine Volvos from models launched before that date, but said it […]
Read moreFinland’s Nokia and Chinese smartphone maker Xiaomi announced an agreement on Wednesday to cross-license patents from each other, which will help both companies develop new products. The deal will see both companies license so-called standard essential patents — patents which are essential to allow products to comply with an industry standard — from each other. […]
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French prime minister taunts Trump as ‘scared of the future’ and compares him to an ostrich
France’s newly-installed Prime Minister Edouard Philippe has used his first address to Parliament to make a subtle rebuke at President Donald Trump, saying that anybody who refused to sign the Paris climate agreement was not only selfish but “scared of the future.” In outlining his government’s reform agenda Tuesday, the 46-year-old lawyer turned politician reiterated […]
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