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Foxconn posts quarterly profit surge on AI server demand

Taiwanese tech hardware titan Foxconn reported on Wednesday a forecast-busting second quarter net profit, as exploding demand for artificial intelligence servers needed in data centres powered the company's growth.

Toyota ex-chief Okuda, pioneer of the Prius, dead at 93

Former Toyota head Hiroshi Okuda, credited with championing the pioneering Prius hybrid and turning the Japanese automaker into a global titan, has died aged 93, the firm said Wednesday.

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US Fed makes first rate cut of 2025 on employment risks

The US Federal Reserve on Wednesday lowered interest rates for the first time this year, flagging slower job gains and risks to employment as policymakers face heightened pressure under President Donald Trump.

Canada central bank cuts key lending rate citing Trump tariffs

Canada's central bank cut its key lending rate on Wednesday, offering a boost to borrowers in an economy squeezed by US President Donald Trump's trade war.

EU says India's Russia links jeopardise closer ties

The European Union's top diplomat warned Wednesday that its push for closer ties with India could be hampered by New Delhi's purchases of Russian oil and involvement in military drills with Moscow.

Stocks, dollar calm ahead of expected US rate cut

Stock markets and the dollar steadied as investors expected the US Federal Reserve to cut interest rates Wednesday to shore up the world's biggest economy.

Nvidia CEO disappointed over China chip ban report

Nvidia chief executive Jensen Huang on Wednesday said he was disappointed by a report that Beijing has barred major Chinese tech companies from buying his company's world-leading chips, a crucial component in the generative AI revolution.

Man Utd post sixth straight annual loss despite record revenues

Manchester United on Wednesday reported an annual net loss for the sixth consecutive year despite record revenues of £666.5 million ($910 million).

AI may boost global trade value by nearly 40%: WTO

Artificial intelligence could boost the value of global trade by almost 40 percent by 2040 thanks to cost reductions and productivity gains, the World Trade Organization said Wednesday.

Germany's Merz vows 'autumn of reforms' in turbulent times

Germany will need sweeping change to remain free and prosperous, Chancellor Friedrich Merz warned Wednesday, calling on the country to unite in the face of Russian aggression, economic woes and rising extremism.

EU says India's Russian oil purchases, military drills hinder closer ties

India's participation in military exercises with Moscow and its purchases of Russian oil "stand in the way of closer ties" with the EU, the bloc's top diplomat Kaja Kallas said on Wednesday.

Stocks, dollar calm before expected US rate cut

Stock markets and the dollar steadied as investors expected the US Federal Reserve to cut interest rates Wednesday to shore up the world's biggest economy.

Ben & Jerry's co-founder quits, says independence 'gone'

The co-founder of Ben & Jerry's has resigned from the ice cream brand after saying his company know for its social activism has lost "the independence to pursue our values" under the ownership of British giant Unilever.

Nestle share price slips as chairman follows CEO out the door

Nestle shares slipped on Wednesday after the Swiss food giant announced the earlier-than-expected departure of its chairman, just weeks after the sudden ouster of its chief executive over an office relationship.

Peru evacuates 1,600 tourists from Machu Picchu amid protest

Peru has evacuated around 1,600 tourists from a train station that serves the Inca citadel of Machu Picchu after a local protest escalated into clashes with police.

UK inflation stable ahead of central bank rate call

British inflation was unchanged in August, official data showed Wednesday, fuelling expectations that the Bank of England will not cut interest rates again at its meeting this week.

Lower shipments to US, China weigh on Singapore August exports

Singapore's exports slid again in August according to official figures out Wednesday, as shipments to its biggest markets -- the US and China -- keep dropping.

EU business lobby head says China rare earths snag persists

European firms still face challenges in securing access to crucial rare earths from China, a business lobby warned Wednesday, despite a July deal to speed up exports.

Asian stocks swing as traders bide time ahead of US rate decision

Asian stock markets were mixed Wednesday as investors bided their time ahead of an expected US interest rate cut later in the day.

US Fed set for first rate cut of 2025 as Trump pressure looms

The US Federal Reserve is poised to make its first interest rate cut of 2025 on Wednesday, but it battles competing forces in the path forward -- with heightened political pressure and likely divisions among its ranks.

Broadway jeering Caesars Times Square casino bet

The casino industry's quest to bring gambling to Manhattan faces a key test this week when an advisory panel weighs a Times Square proposal that has enraged much of Broadway.

Nestle says chairman Paul Bulcke to step down

Nestle on Tuesday announced that its longtime chairman Paul Bulcke had decided to step down, just weeks after the Swiss food giant suddenly fired its chief executive over an office relationship.

Malawi votes in economic gloom as two presidents battle for power

Malawians voted Tuesday in elections overshadowed by soaring prices and crippling fuel shortages, with the economic gloom a challenge to President Lazarus Chakwera's bid for a second term.

Stocks slip, dollar down as Fed meets on rates

Wall Street stocks turned lower on Tuesday while the dollar slid as the US Federal Reserve began a two-day meeting at which it is expected to cut interest rates.

Trump sues NYT for $15 bn in latest attack on media

Donald Trump filed a $15 billion defamation lawsuit against The New York Times on Monday, adding to the US president's growing list of legal attacks on news organizations he accuses of bias against him.

Thyssenkrupp says India's Jindal Steel makes bid for steel business

India's Jindal Steel International has made an offer for Thyssenkrupp's steel division, the German company said Tuesday, in what would be a mega-deal for the struggling industrial titan.

US retail sales beat expectations in August despite tariffs

Retail sales in the United States were hotter than expected in August, government data showed Tuesday, although analysts warned consumers may run out of steam as President Donald Trump's tariffs bite.

Europe slow to match economic rivals US, China: Draghi

The European Union is "failing to match the speed of change" in the United States and China and must act urgently on economic reforms to avoid falling further behind, a key report's author said Tuesday.

Malawi votes for a new president as economic crisis bites

Thousands of Malawians turned out to vote in general elections Tuesday with the incumbent president and his predecessor vying for a second chance to govern the southern African nation battered by soaring costs and fuel shortages.

Stocks diverge, dollar down as Fed meets on rates

European stock markets fell Tuesday following a steady showing by Asia's main indices, as the US Federal Reserve prepares to meet over interest rates.

Malawi votes in battle of two presidents as economic crisis bites

Malawi voted in general elections Tuesday with the incumbent president and his predecessor vying for a second chance to govern the largely poor southern African nation battered by soaring costs and fuel shortages.

Smoke-dried bodies could be world's 'oldest mummies': study

Some ancient societies in China and southeast Asia appear to have smoke-dried their dead, effectively mummifying them thousands of years earlier than their Egyptian counterparts, new research has found.

East Timor police fire tear gas on second day of car purchase protests

East Timor police fired tear gas on Tuesday at protesters railing for the second day against a plan to buy new official cars for lawmakers, which became the latest flashpoint in one of the poorest nations in Southeast Asia.

Lower US tariffs on Japan autos kick in

Lower US tariffs on Japanese autos kicked in on Tuesday, as a relieved Tokyo welcomed the implementation of a trade pact negotiated with Washington.

Portugal Colonial - Economy (English)