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Alphabet's share price plunges on traffic drop testimony
Shares in Google parent Alphabet plunged more than seven percent on Wednesday after an Apple executive told a federal court that the search engine's traffic fell on Apple products last month. Cue told the court this would have a significant impact on Apple's ability to invest in new products and services. arp/dw
South Africa launches reform of derelict municipalities
South African President Cyril Ramaphosa unveiled Wednesday a plan to revive South Africa's flagging local governments, weeks after publicly criticising the state of the financial capital Johannesburg as it prepares to host the G20 summit in November.
EU trade chief says accelerating free trade talks with Asia
The European Union is accelerating free trade talks with Asia following hefty tariffs by US President Donald Trump, the bloc's trade chief said Wednesday. He was speaking in Singapore after signing a digital trade agreement between the EU and the city-state on Wednesday.
Sheinbaum says Mexico will defend free trade deal with US, Canada
Mexico will fight to keep its free trade agreement with the United States and Canada in the face of President Donald Trump's trade war, Mexican President Claudia Sheinbaum said Wednesday. The United States-Mexico-Canada Agreement (USMCA) replaced the previous NAFTA accord in July 2020, after Trump successfully pushed for a renegotiation during his first term in office.
EU eyes targeting 100 bn euros of US goods with tariffs
The EU is preparing to hit US goods worth nearly 100 billion euros ($113 billion) with tariffs in retaliation for President Donald Trump's sweeping levies if talks fail, European diplomats told AFP Wednesday.
Merz tells France Mercosur trade deal must be ratified 'quickly'
Germany's new Chancellor Friedrich Merz said on Wednesday EU countries should "quickly" ratify a free trade deal with four South American nations that has met with staunch opposition from France. "The Mercosur deal should be ratified quickly and implemented," Merz said at a joint press conference with President Emmanuel Macron as he visited Paris on his first trip abroad.
Disney announces new theme park in Abu Dhabi
The Walt Disney Company on Wednesday unveiled plans for a new theme park in the United Arab Emirates, underscoring the country's emergence as a financial and entertainment global hub. Disney's announcement came ahead of US President Donald Trump's visit to Saudi Arabia, Qatar and the United Arab Emirates next week.
New German finance minister says 'no time to lose'
Germany's new Finance Minister Lars Klingbeil said Wednesday there was "no time to lose" to jump-start Europe's beleaguered top economy, even as hardline US trade policies complicate his task. Klingbeil also said that he would speak with European finance ministers Wednesday and that a key challenge would be finding ways of boosting investment using EU institutions.
Weight-loss drugmaker Novo Nordisk slims sales forecast
Danish drugmaker Novo Nordisk, known for its blockbuster diabetes and weight-loss treatments Ozempic and Wegovy, cut its annual sales forecast on Wednesday, citing a decline in its US market share. Novo Nordisk's shares tumbled last month after Eli Lilly announced a successful clinical trial of diabetes and obesity treatment orforglipron.
AFP
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