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Conflict, climate change and AI get top billing at elite meeting in Davos

The Earth is heating up, as is conflict in the Middle East. The world economy and Ukraine's defense against Russia are sputtering along. Artificial intelligence could upend all our lives.

The to-do list of global priorities has grown for this year's edition of the World Economic Forum's gabfest of business, political and other elites in the Alpine snows of Davos, Switzerland, which runs Tuesday through Friday.

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US inflation edges up, fueled by energy and housing prices

Higher energy and housing prices boosted overall U.S. inflation in December, a sign that the Federal Reserve's drive to slow inflation to its 2% target will likely remain a bumpy one.

Thursday's report from the Labor Department showed that overall prices rose 0.3% from November and 3.4% from 12 months earlier. Those gains exceeded the previous 0.1% monthly rise and the 3.1% annual inflation in November. The December figures came in slightly above economists' forecasts.

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Economy tops US priorities for government across racial groups

Americans of various racial backgrounds largely agree that the government should focus on the economy and foreign policy issues in 2024, but recent polling shows that views among racial groups diverge on some high-profile topics, including racism and immigration.

About 7 in 10 U.S. adults across racial backgrounds — including white, Black, Hispanic and Asian adults — name issues related to the economy in an open-ended question that asks people to share up to five topics they would like the government to prioritize in 2024, making it the most commonly mentioned issue for each group, as well as for U.S. adults overall at 76%.

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3-day union strike brings train traffic to near standstill across Germany

A union representing many of Germany's train drivers started a nearly three-day strike early Wednesday in a rancorous dispute with the country's state-owned main railway operator over working hours and pay.

Train travel across the country and in many cities came to a near standstill with commuters and other travelers struggling to find alternatives involving long-distance bus or car travel or flights.

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Germany's last major department store chain files for insolvency protection for 3rd time

Germany's last remaining major department store chain filed for insolvency protection on Tuesday, its third filing in less than four years, after its owner ran into difficulties.

Galeria Karstadt Kaufhof, which currently runs 92 stores and employs more than 15,000 people, said it filed for insolvency at a court in Essen, German news agency dpa reported. The company is seeking a new owner and talks with potential investors are already underway.

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World shares mixed following Wall Street rally led by technology stocks

European markets opened lower on Tuesday after a mixed session in Asia, where Tokyo's benchmark closed at a 33-year high.

Germany's DAX fell 0.4% to 16,654.65 and the CAC 40 in Paris lost 0.2% to 7,433.01. Britain's FTSE 100 edged 0.1% lower to 7,688.41.

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Wall St. points to lower open on heels of worst week in more than two months

Wall Street pointed lower before the opening bell Monday following its worst week since Halloween.

Futures for the S&P 500 were unchanged, while futures for the Dow Jones Industrial Average lost 0.4%.

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German farmers block roads in protest against plan to scrap diesel tax breaks

Farmers blocked highway access roads in parts of Germany Monday and gathered for demonstrations, launching a week of protests against a government plan to scrap tax breaks on diesel used in agriculture.

Chancellor Olaf Scholz's unpopular three-party coalition infuriated farmers last month by drawing up plans to abolish a car tax exemption for farming vehicles and the diesel tax breaks. The proposals were part of a package to fill a 17-billion-euro ($18.6-billion) hole in the 2024 budget.

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Global food prices declined from 2022 record highs, except for these two staples

Global prices for food commodities like grain and vegetable oil fell last year from record highs in 2022, when Russia's war in Ukraine, drought and other factors helped worsen hunger worldwide, the U.N. Food and Agriculture Organization said Friday.

The FAO Food Price Index, which tracks monthly changes in the international prices of commonly traded food commodities, was 13.7% lower last year than the 2022 average, but its measures of sugar and rice prices growing in that time.

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Europe inflation up after months of decline

Inflation plaguing Europe rose to 2.9% in December, rebounding after seven straight monthly declines as food prices rose and support for high energy bills ended in some countries. The rise in price levels fueled debate over how soon interest rate cuts could be expected from the European Central Bank.

The figure released Friday was up from the 2.4% annual inflation recorded in November — but is well down from the peak of 10.6% in October 2022.

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