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Real-time News
The governor of the Polish central bank said the monetary policy committee will tend to remain on the sidelines, and further interest rate cuts may follow.Documents show that Saudi Arabia set the official selling price of its Arab Light crude oil to the United States in January at a premium of $2.50 per barrel over the average price of Argus Sour crude oil.December 4th - Meta Platforms (META.O) CEO Mark Zuckerberg is expected to significantly reduce resource allocation to building the metaverse, a strategy he once defined as the companys future and the catalyst for Facebooks renaming. According to sources, management has discussed cutting the budget for the metaverse division, which encompasses the virtual world product Meta Horizon Worlds and its Quest virtual reality business, by up to 30% next year. Such a significant reduction could lead to layoffs as early as January, but a final decision has not yet been made. The sources indicated that the proposed metaverse reduction plan is part of the companys 2026 budget plan. They added that Zuckerberg has asked Meta executives to seek a 10% overall budget cut, a standard requirement in similar budget cycles over the past few years. The sources noted that the metaverse division was asked to undergo even deeper cuts this year because Meta has not seen the competitive fervor it had anticipated across the industry for its metaverse technology.Meta Platforms (META.O) rose about 4% in pre-market trading after CEO Mark Zuckerberg planned to cut the Metaverse budget by 30%.On December 4th, Geek+ (02590.HK) announced that its Board of Directors approved a resolution on December 4th, 2025, to implement the full circulation of its H shares, namely, converting 94,576,081 unlisted Class B ordinary shares into H shares. Upon obtaining all relevant approvals and complying with all applicable laws, regulations, and rules, these unlisted Class B shares will be converted into H shares, and the Company will apply for approval for the listing and trading of these H shares on the Main Board of the Stock Exchange of Hong Kong.
