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Nobel Committee announces the winners of the 2024 Nobel Prize in Economic Science during a press conference at the Karolinska Institute in Stockholm, Sweden, on October 14, 2024. The 2024 Nobel Prize in Economy was awarded to Daron Acemoglu, Simon Johnson and James Robinson for their work on formation of institutions and their impact on welfare. Anadolu | Anadolu | Getty ImagesU.S.-based economists Daron Acemoglu, Simon Johnson and James Robinson were awarded the Nobel prize in economic sciences on Monday for their work on wealth inequality between nations.The academics have helped show why societies with "poor rule of law and institutions that exploit the population do not generate growth or change for the better," the Nobel committee said, demonstrating the "importance of societal instit...

British Prime Minister Sir Keir Starmer speaks with leaders from across the UK during the International Investment Summit on October 13, 2024 in London, England. Wpa Pool | Getty Images News | Getty ImagesLONDON — U.K. Prime Minister Keir Starmer on Monday vowed to slash regulatory red tape to boost anemic investment in the country."We've got to look at regulation across the piece, and where it is needlessly holding back investment ... mark my words, we will get rid of it," he told delegates at the government's inaugural International Investment Summit, held at London's Guildhall."It's time to upgrade the regulatory regime. We will rip up the bureaucracy that blocks investment," he added.The prime minister restated that growth was the "No. 1 test of this government," and reiterated plans f...

Delta Air Lines planes are seen parked at Seattle-Tacoma International Airport on June 19, 2024 in Seattle, Washington.Kent Nishimura | Getty ImagesDelta Air Lines had to suspend hot meal service on more than 200 flights out of its Detroit Metropolitan Wayne County Airport hub over the past several days because of a "food safety issue."Delta said that operations from the facility were shut down and hot food will be managed by other kitchens."During a recent inspection at a DTW kitchen, Delta's catering partner was notified of a food safety issue within the facility," Delta said in a statement on Sunday. "Delta and its catering partner immediately shut down hot food production and subsequently suspended all activity from the facility. Hot food and other onboard provisioning will be managed ...

Residential buildings under construction at the Jinmao Palace project, developed by China Jinmao Holdings Group Ltd., in Shanghai, China, on Thursday, Oct. 3, 2024. Qilai Shen | Bloomberg | Getty ImagesChina property stocks jumped Monday after Beijing laid out more support measures over the weekend to shore up the troubled sector.While the Hang Seng Index was last down 0.4% in volatile trading Monday, the Hang Seng Mainland Properties Index rose over 2%.China Resources Land was the top mover in the HSMPI, rising 7.6%.Shares of other real estate developers also saw significant gains, including China Overseas Land & Investment and Yuexiu Property gaining nearly 7% and 6%, respectively.Real estate was also the leading gainer in Mainland China's CSI 300, advancing nearly 5%, while the broa...

Stockcam | E+ | Getty ImagesLONDON — The U.K. Labour government is hoping to woo foreign capital to the country on Monday, as it hosts its inaugural International Investment Summit in London.Prime Minister Keir Starmer, Finance Minister Rachel Reeves and Business Minister Jonathan Reynolds will lead the one-day event at London's Guildhall, which is expected to be attended by around 200 executives from the U.K. and overseas.Former Google chair Eric Schmidt, Goldman Sachs CEO David Solomon and GSK CEO Emma Walmsley are among the named guests. Newly appointed Investment Minister Poppy Gustafsson, co-founder of British cybersecurity firm Darktrace, will also be on hand to promote the U.K. as a place to do business.However, would-be attendees and observers expressed frustration to CNBC about th...

Tension is high in Asia as China conducts major military drills across the Taiwan Strait, following comments made by Taiwan's President Lai Ching-te last week.China's military says the drills, called Joint Sword 2024-B, involve the army, navy and rocket forces, and will be carried out in the Taiwan Strait, as well as north, south and east of the self-governed island. A spokesperson for China's Eastern Theatre Command said the drills will close in on the island, focusing on a blockade and control of key ports and areas.Taiwan has called the action "irrational and provocative".China says it is a "stern warning to the separatist acts of Taiwan independence forces". ...