AFP
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Brazil Central Bank holds interest rate after seven straight hikes
Brazil's Central Bank on Wednesday held its benchmark interest rate steady at 15 percent after seven straight hikes that had angered leftist President Luiz Inacio Lula da Silva. Lula has argued high interest rates stifle growth.
US Fed holds firm against Trump pressure as divisions emerge
The US Federal Reserve kept interest rates unchanged Wednesday, defying strong political pressure from President Donald Trump to slash borrowing costs -- although divisions emerged among policymakers. The president, citing Wednesday's GDP figures, earlier said Powell "must now lower the rate."
Meta beats expectations sending share price soaring
Meta reported robust second-quarter financial results Wednesday, with revenue jumping 22 percent year-over-year to $47.5 billion as the social media giant continues investing heavily in artificial intelligence. The results exceeded Wall Street expectations as advertising revenue climbed a stellar 21 percent to $46.6 billion.
Microsoft quarterly profits soar on AI and cloud growth
Technology giant Microsoft on Wednesday said its profit soared above expectations in the recently ended quarter, driven by its cloud computing and artificial intelligence (AI) units. Microsoft was one of the first tech giants to double down on artificial intelligence when the launch of ChatGPT in 2022 rocked the tech industry.
Airbus first-half profit climbs 85% to $1.7 bn
European aerospace group Airbus posted an 85-percent rise in first-half profit Wednesday to $1.7 billion, even though it delivered fewer commercial planes compared with the same period last year. The jump in profits to 1.5 billion euros came a year after Airbus reported a 46-percent slump in earnings for the first half of 2024.
Trump punishes Brazil with tariffs, sanctions over trial of ally Bolsonaro
President Donald Trump ordered massive tariffs on Brazil Wednesday and sanctions against the judge overseeing a trial of his far-right ally Jair Bolsonaro, who is accused of attempting a coup in Latin America's biggest economy. Bolsonaro is on trial for allegedly plotting a coup to stay in power after losing the 2022 election to leftist Lula.
Tata Motors to buy Italy's Iveco for $4.4 bn
Tata Motors of India will buy Italy's Iveco Group for 3.8 billion euros ($4.4 billion) in a bid to create a "global champion" in the commercial vehicles sector, the two companies said Wednesday.
Renault names Provost CEO after De Meo exit
French auto giant Renault said Wednesday that Francois Provost, currently in charge of procurement, would take over as chief executive following Luca de Meo's departure in June. Procurement director Prevost, 57, has been with Renault for 23 years and was one of De Meo's closest advisors, in particular for his "Renaultution" strategic plan.
Canada central bank holds rate steady citing US tariff 'threats'
Canada's central bank held its key lending rate at 2.75 percent on Wednesday, as the major US trading partner confronts economic uncertainty two days before President Donald Trump's latest tariff deadline.
AFP
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