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FRANKFURT, Aug 17 (Reuters) – A market correction to tech stock exuberance in the U.S. is likely and could have far-reaching consequences due to limits in fiscal and monetary policy buffers to blunt the potential economic hit, a European Central Bank blog post said on Monday. Investors have been piling into technology stocks on bets that AI will fundamentally alter the global economy, and valuations for top tech companies are […]

MILAN, Aug 17 (Reuters) – Ferrari has sold at auction a one-off, bespoke version of the Luce, its first fully electric vehicle, for $40 million, the Italian luxury sports car maker said, adding that the money will be used for education projects to help young people. The auction, in partnership with RM Sotheby’s during Monterey Car Week, comes as Ferrari seeks to build momentum behind the Luce, which was unveiled […]

Aug 17 (Reuters) – Specialty chemicals maker Indo Amines said on Monday two people, including an employee, died on Saturday following a gas leak at its manufacturing facility in Mahad, in the western Indian state of Maharashtra. Another person working at a neighbouring industrial unit died during medical treatment, the company said. The exact cause and circumstances leading to the gas leakage are currently unknown, it said, adding that operations […]

By Bart Biesemans, Yves Herman and Kate Abnett HIGH FENS NATIONAL PARK, Belgium, Aug 17 (Reuters) – Rain over eastern Belgium on Monday morning aided firefighters battling to contain the country’s biggest wildfire on record, which had threatened to reach the German border. Wildfires have ripped through Europe this summer after successive severe heatwaves, fuelled by climate change, have intensified ​drought and left vegetation tinder-dry. Fires have now burned 576,000 […]

By Juarawee Kittisilpa and Chayut Setboonsarng BANGKOK, Aug 17 (Reuters) – Loaves of sourdough bread now fill the display window of Suchart and Friends Gun, a firearms shop-turned-bakery in Bangkok’s old quarter where pistols and rifles once lined the glass case. Like all the gun shops in Thailand, it has been banned from importing firearms since a 2023 shooting at a Bangkok mall — one of several mass shootings, including […]

By John Geddie TOKYO, Aug 17 (Reuters) – German drone maker Helsing has enlisted Japanese e-commerce and finance firm Rakuten to help finalise a deal to sell its unmanned systems to Japan’s army, a spokesperson for Rakuten said on Monday. Japan’s Ground Self-Defence Forces are currently testing Helsing’s HX-2 strike drone, as Tokyo looks to modernise its military and counter an increasingly assertive China. The field tests will run until […]

BANGKOK (AP) — The head of Myanmar’s military-backed government embarked on an official visit to Russia to hold talks with President Vladimir Putin aimed at strengthening bilateral ties and strategic cooperation, state media said. President Min Aung Hlaing departed from the capital Naypyitaw on Monday morning accompanied by members of his cabinet. They will meet with Putin and other top Russian officials and discuss bilateral ties and economic, security and […]

MEXICO CITY (AP) — Hundreds of people have been killed in the year since the U.S. military began bombing boats it accused of ferrying drugs off Latin America’s Caribbean and Pacific coasts. Now, the Trump administration says it is seeking to extend that lethal campaign to land, pursuing deals that would put U.S. forces on the ground in allied nations across the region. President Donald Trump’s defense secretary, Pete Hegseth, […]

By Valentina Za and Elvira Pollina MILAN, Aug 14 (Reuters) – UniCredit’s CEO Andrea Orcel has a blueprint for Commerzbank: slash costs, strip out management layers and push harder for revenue growth, a formula that has helped transform the Italian lender into one of Europe’s most profitable banks. Interviews with more than a dozen current and former UniCredit executives show how that transformation was achieved, and why replicating it at […]