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Month: August 2023

China is still suffering from declining factory output. Demand for services is also slowing

By Laura He, CNN Hong Kong (CNN) — Factory activity in China contracted for a fifth straight month in August, adding pressure on Beijing to roll out more stimulus measures to bolster the faltering economy. The official manufacturing Purchasing Managers’ Index (PMI) — which surveys larger companies and state-owned enterprises — stood at 49.7 in

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Opinion: Putin, Trump, and a remarkable split-screen moment in world history

Opinion by Frida Ghitis (CNN) — When an airplane owned by Russian warlord Yevgeny Prigozhin plummeted in a fiery crash northwest of Moscow last week, observers in Russia and around the world immediately recalled two indisputable facts. First, that Prigozhin had openly challenged Russian President Vladimir Putin, and second, that countless others who had defied Putin have met untimely, violent deaths. In the

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‘This is a life-changing event’: Floridians start an arduous recovery after disastrous Idalia

By Aya Elamroussi and Holly Yan, CNN (CNN) — Idalia, now a post-tropical cyclone, is moving farther away from North Carolina’s coast after unleashing heavy rains and powerful winds across the Southeast this week and leaving parts of Florida’s west coast with “significant damage.” It was the most powerful hurricane to slam its Big Bend

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Gabon election results were a ‘smokescreen’ for soldiers to oust unpopular president, analysts say

By SAM MEDNICK Associated Press DAKAR, Senegal (AP) — The ouster of Gabon’s president by mutinous soldiers appears to have been well organized and capitalized on the population’s grievances against the government as an excuse to seize power, analysts said. Soldiers on Wednesday ousted President Ali Bongo Ondimba, whose family has ruled the oil-rich country

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UBS reports huge 2Q profit skewed by Credit Suisse takeover and foresees $10B in cost cuts

By JAMEY KEATEN Associated Press GENEVA (AP) — Swiss banking giant UBS has announced plans to save $10 billion in costs, including through 3,000 staff reductions in Switzerland as it moves ahead with “full integration” of longtime rival Credit Suisse’s domestic operations following a takeover. The announcement on Thursday came as the Zurich-based bank reported

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Residents pick through the rubble of lost homes and scattered belongings in Hurricane Idalia’s wake

By REBECCA BLACKWELL and LAURA BARGFELD Associated Press HORSESHOE BEACH, Fla. (AP) — Florida and Georgia residents living along Hurricane Idalia’s path of destruction on Thursday picked through piles of rubble where homes once stood, threw tarps over ripped-apart roofs and gingerly navigated streets left underwater or clogged with fallen trees and dangerous electric wires.

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Visual artists fight back against AI companies for repurposing their work

By JOCELYN NOVECK and MATT O’BRIEN Associated Press NEW YORK (AP) — Kelly McKernan’s acrylic and watercolor paintings are bold and vibrant, often featuring feminine figures rendered in bright greens, blues, pinks and purples. The style, in the artist’s words, is “surreal, ethereal … dealing with discomfort in the human journey.” The word “human” has

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At least 74 are dead, many of them homeless, as fire rips through a rundown building in South Africa

By GERALD IMRAY and MOGOMOTSI MAGOME Associated Press JOHANNESBURG (AP) — A nighttime fire ripped through a rundown apartment building mainly occupied by homeless people and squatters in Johannesburg early Thursday, leaving at least 74 dead, officials said. Some people threw babies out of third-story windows to others waiting below in the desperate scramble to

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