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Twitter, in Musk fight, posts $270M quarterly loss

Twitter reported a quarterly loss Friday as revenue slipped even as its number of users climbed.

The social media company's latest quarterly earnings figures offered a glimpse into how the social media business has performed during a months-long negotiation with billionaire and Tesla CEO Elon Musk over whether he will take over the company.

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Deal for Ukraine grain exports due to be sealed in Istanbul

U.N. Secretary-General Antonio Guterres and Turkish President Recep Tayyip Erdogan were due on Friday to oversee the signing of a key agreement that would allow Ukraine to resume its shipment of grain from the Black Sea to world markets and Russia to export grain and fertilizers — ending a standoff that has threatened world food security.

Last week, the sides reached a tentative agreement on a U.N. plan that would enable Ukraine to export 22 million tons of desperately needed grain and other agricultural products that have been stuck in Ukraine's Black Sea ports due to the war. The unblocking of the grain stockpiles will help ease a food crisis that has sent prices of vital commodities like wheat and barley soaring.

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Russia will 'consider' Hungary's request for more gas

Moscow will "consider" Budapest's request for more gas this year, Russian Foreign Minister Sergei Lavrov said Thursday, as Russia seeks to develop its "strategic" ties with Hungary.

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Ford boosting battery production for electric car ramp-up

Ford announced a series of initiatives Thursday to strengthen its supply of batteries and raw materials needed for electric vehicles, as the US automaker ramps up production to meet booming demand. 

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Europe's central bank joins global push for higher rates

The European Central Bank raised interest rates Thursday for the first time in 11 years, joining steps already taken by the U.S. Federal Reserve and other major central banks but raising new questions about whether the rush to make credit more expensive will plunge major economies into recession at the price of fighting inflation.

The bank's surprise hike of half a percentage point for the 19 countries using the euro currency is expected to be followed by another increase in September, possibly of another half a point.

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Can Europe live without Russian natural gas?

Europe faced an energy crisis even before drama emerged about the Nord Stream 1 pipeline reopening from Russia to Germany.

While natural gas started flowing again Thursday after the major pipeline shut down for 10 days of maintenance, Europe will still struggle to keep homes warm and industry humming this winter.

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Key gas pipeline from Russia to Europe restarts after break

Natural gas started flowing through a major pipeline from Russia to Europe on Thursday after a 10-day shutdown for maintenance, the operator said.

But the gas flow was expected to fall well short of full capacity and the outlook was uncertain — which leaves Europe still facing the prospect of a hard winter.

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EU draws up energy plan in case of Russian gas cutoff

The European Union's head office on Wednesday proposed that member states cut their gas use by 15% over the coming months as the bloc braced for a possible full Russian cutoff of natural gas supplies that could add a big chill to the upcoming winter.

While the initial cuts would be voluntary, the Commission also asked for the power to impose mandatory reductions across the bloc in the event of an EU-wide emergency caused by what Commission President Ursula von der Leyen saw as a deliberate attempt by President Vladimir Putin to weaponize gas exports.

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EU moves to unblock Russian bank funds to boost food trade

The EU is preparing to carve out exceptions in its tough sanctions against Moscow that would unblock assets at Russian banks linked to trade in food and fertilizer, a document showed on Tuesday.

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Airbus tails Boeing in Farnborough jet orders tussle

European planemaker Airbus trailed its fierce U.S. rival Boeing in an orders battle on the second day of the Farnborough airshow on Tuesday, as southern England buckled under a record heatwave.

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