Facebook faces $5B FTC fine, largest ever in tech

US regulators have approved a $5 billion penalty to be levied on Facebook to settle a probe into the social network's privacy and data protection lapses, the Wall Street Journal reported.

IMF to release $5.4B loan tranche to Argentina

The loan was agreed upon last year after the nation was hit by a sharp depreciation of the peso amid double-digit inflation.

India's low-cost Moon Chariot puts it among lunar pioneers

The $141 million moon mission or Chandrayaan-2 mission, scheduled to touch down on September 6 or 7, will map the moon's surface and search for water.

France passes law taxing digital giants in defiance of US anger

With the GAFA tax, an acronym for Google, Apple, Facebook and Amazon, France becomes the first major economy to tax tech giants, defying US President Trump's probe that could trigger reprisal tariffs. The new law aims at plugging a taxation gap

VW Beetle bows out after decades of production

The "people's car" once had fans across the world but its popularity waned in face of competition from other models.

Bosnia's sole aluminium smelter heads for bankruptcy

The closure puts thousands of jobs at the factory, its contractors and suppliers at risk.

Eurozone growth, inflation cut as risks from US trade grow

In its quarterly economic forecasts, the European Union's executive arm says prices will grow less than previously predicted, pushing the inflation rate further off the European Central Bank's target of close to but less than two percent.

US slaps new duties on steel from Mexico and China

The decision comes two months after US President Donald Trump agreed to lift tariffs on steel and aluminum from Mexico and Canada after the three nations agreed on a revised North American free trade pact.

Deutsche Bank axes teams in Asia-Pacific as 18,000 global job cuts begin

The German lender announces the job losses as part of a restructuring plan that will ultimately cost $8.31 billion (7.4 billion euros) and see it undo years of work aimed at making its investment bank a major force on Wall Street.

African leaders launch 'historic' AfCFTA free trade deal

AU estimates the agreement –– which cuts tariffs between African nations –– will lead to a 60-percent boost in intra-African trade by 2022.

Murat Uysal is Turkey's new central bank governor

Previously a deputy governor, Uysal replaces Murat Cetinkaya as the bank's governor, a presidential decree says.

Jaguar Land Rover to build electric cars in UK

The announcement gives a boost to Britain's automotive sector hit this year by Honda and Ford's plans to close factories.