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European Union is examining alleged anticompetitive abuses in chips used for artificial intelligence, a market which Nvidia dominates, Bloomberg News reported on Friday, citing people familiar with the matter. To understand if there could be the need for future intervention, the European Commission has been informally collecting views on potentially abusive practices in the sector for graphics processing units (GPUs), which are used for AI work as well for gaming, the report said.

US consumer spending increased in August, but underlying inflation moderated, with the year-on-year rise in prices excluding food and energy slowing to below 4.0%. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, gained 0.4% last month, the Commerce Department reported on Friday. Data for July was revised higher to show spending increasing 0.9% instead of the previously reported 0.8%.

(Reuters) -Japan's Sony (NYSE:SONY) Group Corp said on Friday a merger of its Indian unit with Zee Entertainment Enterprises, which had an initial deadline of September, would take a few more months to complete.

By Jason Lange, Andrew Goudsward, Sarah N. Lynch and Nathan Layne

By Ananya Mariam Rajesh

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BERLIN (Reuters) — German retail sales unexpectedly fell in August, as persistently high inflation took its toll on consumption in the euro zone's largest economy.

By Kirsty Needham

LIC), the country's largest insurer, has stepped up federal and state debt purchases to reduce capital volatility, according to sources and market participants, also helping lower government borrowing costs. The shift, previously unreported, has helped states reduce costs by more than 40 basis points (bps) over the past 15 months. «LIC has been increasing their investment into state debt,» confirmed a senior official from the state-run insurer, requesting anonymity as they were not authorised to speak to media. LIC did not respond to an email sent by Reuters. Continuous process The shift began in fiscal 2023, not long after LIC went public. LIC began shifting investments from its non-participating fund to debt from equity to reduce volatility in its solvency margin, said another person familiar with the matter, who also declined to be named. Solvency margin, a key measure of capital, refers to the excess capital insurers maintain over claim amounts they may incur. This usually comes out of funds derived from non-participating policies. The plan to shift is a «continuous process» and will be done gradually, they said, declining to specify to what level LIC intends to take its debt investments.

Valkyrie Funds LLC has begun adding ethereum futures to its existing Bitcoin futures exchange-traded fund, after getting the green light from the US Securities and Exchange Commission (SEC), the company said on Thursday. The renamed Valkyrie Bitcoin and Ether Strategy ETF will launch on Monday, Valkyrie's chief investment officer Steven McClurg told Reuters.

Oil prices fell in early trade on Friday after a recent rally, as profit-taking and expectations of supply increases by Russia and Saudi Arabia outweighed forecasts of positive demand from China during its Golden Week holiday. Brent November futures which expire on Friday were down 21 cents to $95.17 per barrel. Brent December futures lost 10 cents to trade at $93.00 per barrel at 0055 GMT. U.S.

Tesla Inc. The lawsuit alleges that Tesla has allowed the persistent harassment of Black employees at its main assembly plant in Fremont, California. These allegations closely resemble cases brought forward by both the state and Tesla's own employees.

Sun Pharmaceutical: The drug major will buy out local partner Indi Pharma from its Mexican arm for over ₹75 crore. The company has signed a binding letter of intent to acquire the balance 25% outstanding shares of Sun Pharma de Mexico, SA de CV, a subsidiary where it currently holds 75%. Adani Green & Adani Energy: Abu Dhabi conglomerate International Holding Company on Thursday said it will sell its stake in two of India's Adani Group companies, a move that comes as billionaire Gautam Adani's business continues its battle against fraud allegations, Reuters reported.

Sycamore Gap tree, which garnered popularity for its role in the 1991 film "Robin Hood: Prince of Thieves" and as a beloved tourist destination, has been purposefully chopped down by vandalism. According to Northumbria Police, a 16-year-old has been seized in connection with this tragic occurrence. The Sycamore Gap tree, a well-known landmark in northern England, was not only well-known but also had a particular place in the hearts of the many people who came to see its splendor adjacent to Hadrian's Wall.

Netherlands shooting: Mutiple deaths were reported from the Rotterdam area in Netherlands after a gunman opened fire in a classroom at a university hospital campus and a nearby house on Thursday. As per a Reuters report, the police has arrested 32-year-old accused and fires had broken out at both locations.

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Oil prices surged 3% on Wednesday to the highest settlement in 2023, after a steep drop in U.S. crude stocks compounded worries of tight global supplies. Brent crude futures closed up $2.59, or 2.8%, at $96.55. It breached $97 a barrel during the session.

By Supantha Mukherjee and Divya Rajagopal

By Scott Murdoch and Ziyi Tang

IHC) on Thursday said it will dispose its investment in India's Adani Green Energy and Adani Energy Solutions.

China has bought several hundred thousand metric tons — trad Chinese importers are believed to have made large purchases of animal feed corn from Ukraine in the past two weeks, traders in Asia and Europe said on Thursday, providing a boost for the war-ravaged country from an unlikely source. The traders were unable to say the exact volumes but several said they amounted to several hundred thousand metric tons. A Ukrainian government source also confirmed corn sales to China, a key ally of Russia, particularly since Moscow's full-scale invasion of Ukraine in February 2022. «Importers in China have bought around 10 to 12 Panamax cargoes of Ukrainian corn for November/December shipment,» said a Singapore-based trader at an international grains trading company, referring to a size of ship with a capacity that typically exceeds 60,000 tons of grain. «Ukraine is the cheapest origin for corn as of now,» the trader said. A Ukrainian government source said: «I cannot tell you the volume, but I know that many (traders) did it and it is a good trend (for Ukrainian corn).» Russia has tried to impose a de facto blockade on seaborne Ukrainian grain exports through the Black Sea.