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Economy & Finance

Eurozone

Inflation in the Eurozone dropped to 2.2% in August, reaching a three-year low and aligning with prior predictions. This decrease, from the previous month's rate of 2.6%, fuels anticipation that the European Central Bank (ECB) might lower interest rates in September. Despite inflation nearing the ECB’s target of 2%, there's a cautious outlook from some economists due to a rise in services inflation, particularly influenced by temporary factors like the Paris Olympics. Consequently, the ECB, having already reduced rates in June, might proceed with further cuts amid discussions on the economic impact of maintaining high rates. Moreover, despite a slight uptick in services costs, the overall economic environment suggests potential for additional rate reductions, aiming to stabilize inflation without stifling economic growth.

Technology

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A Brazilian Supreme Court justice has mandated the immediate halt of the social media platform X in Brazil, following a missed deadline by the company to appoint a legal representative in the country. This action escalates the ongoing conflict between the court, under Justice Alexandre de Moraes, and X’s owner, Elon Musk. This conflict previously led to financial repercussions for Musk's satellite internet company, Starlink, with its accounts being frozen. The suspension remains effective until X complies with various court orders, including paying fines and appointing a representative. Furthermore, the use of VPNs to bypass the suspension could result in additional fines.

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