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US consumer inflation sees smallest annual rise since 2021
US consumer inflation eased slightly in July, according to government data published Wednesday, its smallest 12-month increase since March 2021 and a positive sign for the Federal Reserve as it weighs cutting interest rates. The July CPI data are good news for US Federal Reserve as it weighs the right time to start bringing interest rates down from a 23-year high.
Mars to acquire Pringles maker Kellanova for nearly $36 bn
M&M's and Snickers maker Mars said Wednesday that it would acquire snack food business Kellanova, marking a multibillion dollar agreement set to result in a new industry giant. This would bring two new billion-dollar brands, Pringles and Cheez-It, into its business.
US consumer inflation records smallest annual rise since 2021
US consumer inflation eased slightly in July, according to government data published Wednesday, its smallest 12-month increase since March 2021 and a positive sign for the Federal Reserve as it weighs cutting interest rates. The July CPI data are good news for US Federal Reserve as it weighs the right time to start bringing interest rates down from a 23-year high.
Foxconn net profit rises in second quarter on AI demand
Taiwanese tech giant Foxconn on Wednesday reported a six percent jump in net profit for the second quarter of the year, driven by strong growth in demand for artificial intelligence servers. It said Wednesday that net profit for April-June rose to NT$35.05 billion (US$1.08 billion) from NT$33 billion in the same period last year.
Three years after Taliban return, economic woes loom large
Despite three years of improved security following the end of the Taliban's insurgency, Afghanistan's economy remains stagnant and its population is in the grips of a worsening humanitarian crisis. Though Afghans welcome the improved security in their lives, many are just trying to make ends meet.
Workers strike at world's biggest copper mine in Chile
Workers at the world's largest copper mine in Chile are striking after pay talks with Australian resources giant BHP fell apart, casting a shadow of uncertainty Wednesday over the market for the commodity. The Escondida mine in northern Chile yearly digs up around five percent of the world's copper, a coveted metal used in everything from electrical wiring to rechargeable batteries.
Seoul authorities find toxic substances in Shein and Temu products
Women's accessories sold by some of the world's most popular online shopping firms contained toxic substances sometimes hundreds of times above acceptable levels, authorities in Seoul said Wednesday. Seoul authorities found sandals from Temu contained lead in the insoles at levels more than 11 times the permissible limit.
Asian markets extend gains as US inflation data boost rate hopes
Equities marched higher Wednesday after hopes for a Federal Reserve interest rate cut next month were boosted by data showing US wholesale prices rose less than forecast last month. That came after the Bank of Japan hiked interest rates and the Fed indicated it would soon begin cutting.
Ligue 1 begins post-Mbappe era further weakened after TV rights fiasco
While France basks in the glow of the dazzling Paris Olympics, French football is trying to shake off a hangover from its own disastrous summer as the first Ligue 1 season of the post-Kylian Mbappe era begins this weekend. A year after the departures of Lionel Messi and Neymar, Mbappe left Paris Saint-Germain too, signing for Real Madrid after eight and a half years in Ligue 1.
AFP
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