Central Banks Battle Inflation, AI Advances and Faces Lawsuits, Musk Transforms Twitter Amid Challenges, Global Stocks Rally While Economy Shows Resilience
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The European Central Bank and other central banks battled high inflation, enacting tight monetary policies before easing up by end of year as inflation declined from peak levels.
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Artificial intelligence advanced with ChatGPT but also sparked legal disputes, like 17 authors filing a lawsuit against OpenAI over copyright violations. The EU passed pioneering AI regulations.
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Elon Musk transformed Twitter into X Corp, facing challenges like loss of advertisers and lawsuits. His criticism of companies pulling ads sparked contention.
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Global stock markets rallied with an index covering nearly 3,000 international stocks returning 18% by December, partly fueled by big tech and pharma companies.
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The world economy showed "remarkable resilience" although shocks like the pandemic and Ukraine war slowed growth. Concerns remain about weakened China despite continued US expansion.