Tag: Business
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Asian stocks stutters after rout, Fed leaves markets guessing on rates
SINGAPORE: Asian stocks struggled for direction in choppy trading on Thursday (Jul 30) after a week of market turbulence sparked by artificial intelligence jitters, as a divided Federal Reserv
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Here’s why Europe’s hot summers are becoming an expensive challenge
Record heatwaves are straining Western Europe’s infrastructure, businesses and budgets as wildfires and insurance costs rise.
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Japan PM vows to proceed with temporary cut in sales tax
TOKYO, July 30 : Japanese Prime Minister Sanae Takaichi announced her intention to proceed with a sharp two-year cut on an 8 per cent sales tax on food items, a senior ruling party official said on Thursday, a move set to strain the country’s worsening finances.In a meeting with ruling party executives, Takai
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Japan cuts this year’s growth outlook as higher energy costs weigh
TOKYO, July 30 : Japan’s government cut its economic growth forecast for the current fiscal year on Thursday, as higher oil prices linked to Middle East tensions squeeze household spending and corporate profits.In its mid-year estimates, the Cabinet Office projected inflation-adjusted gross domestic product (
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Meta cash flow craters as Zuckerberg doubles down on AI spending
July 29 : Meta Platforms reported a 91 per cent drop in second-quarter free cash flow on Wednesday, underscoring the financial strain of the social media giant’s costly AI buildout amid an uncertain payoff.The Facebook and Instagram parent company reported free cash flow of $784 million in the second quarter
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Microsoft says cash will keep flowing from AI, shares rise
July 29 : Microsoft on Wednesday said it expects to keep generating cash through its just-started fiscal 2027 and gave a capital expenditure forecast below Wall Street estimates after an accounting change for data center leases.The company also forecast sales and cloud growth that beat expectations for its cu
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Samsung operating profit up 1,800% in second quarter on AI boom
SEOUL: South Korean technology giant Samsung Electronics posted on Thursday (Jul 30) a massive 19-fold jump in second-quarter operating profit from a year earlier, buoyed by sustained AI-driven demand for memory chips.The world’s largest memory chipmaker posted April-June operating profit of 89.49 trillion wo
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Oil prices slip as tankers continue to ply Middle East conflict zones
BEIJING, July 30 : Oil prices gave up some of their gains on Thursday as oil tankers continued to make their way out of the Middle East even as tensions there escalated, with the U.S.-Iran war spreading beyond its main fronts.Brent futures fell $1.29, or 1.42 per cent, to $89.45 a barrel as of 0110…
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Japan’s price expert predicts BOJ shift to more aggressive inflation fighting posture
TOKYO, July 30 : The Bank of Japan may shift to an inflation fighting posture from inflation tolerance as soon as December, which would mean an acceleration in rate hikes, said Tsutomu Watanabe, a former central bank official known as an expert on price trends.Japan is experiencing a third wave of inflation c
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Chinese carmakers piling pressure on UK rivals, auto industry chief says
LONDON, July 30 : A wave of Chinese entrants into Britain’s car market is piling pressure on traditional manufacturers, forcing them to offer deeper discounts to compete with lower-cost imports, the head of the country’s main automotive industry body said on Thursday.Chinese brands have rapidly expanded their
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