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Tokyo's Nikkei leads Asian rally after Japan-US trade deal
Tokyo stocks rallied with the yen Wednesday after Japan and the United States finally hammered out a trade deal to slash Donald Trump's tariffs, including those on the crucial car sector. But Trump said Tuesday that officials had agreed to a "massive" deal that would include a 15 percent tariff on imports from Japan, down from the previously threatened 25 percent.
Trump announces 'massive' Japan trade deal including 15% tariff
President Donald Trump said Tuesday that the United States had agreed to a "massive" trade deal with Japan that would include a 15 percent tariff on its exports. - Japan has agreed to "open their Country to Trade including Cars and Trucks, Rice and certain other Agricultural Products, and other things," Trump said.
Trump agrees to small reduction in Philippine tariffs
US President Donald Trump agreed Tuesday to reduce threatened tariffs on the Philippines, but only by one percentage point, after what he termed a successful meeting with his counterpart Ferdinand Marcos. The 19 percent rate is still above the 17 percent threatened by Trump in April, when he threatened sweeping global tariffs.
UK court awards £700 mn to HP in late tycoon's fraud case
A UK court Tuesday awarded £700 million ($946 million) compensation to IT firm Hewlett Packard in a fraud case involving late British tech tycoon Mike Lynch, killed last year when his superyacht sank off Sicily.
Games giant Ubisoft bets on reorganisation to dispel blues
Struggling French video games giant Ubisoft shed light on a far-reaching reorganisation of its business Tuesday, as it reported disappointing sales in April-June.
Trump says confident US to reach Philippines trade deal
US President Donald Trump voiced confidence Tuesday at reaching a trade deal with the Philippines to ease his threatened tariffs as he welcomed his counterpart Ferdinand Marcos to the White House. A big trade deal, actually," Trump said as he met Marcos in the Oval Office.
General Motors profits fall on tariffs
General Motors reported Tuesday that second-quarter profits tumbled by more than a third due to tariffs as it confirmed its full-year forecast. Profits overall fell 35.4 percent to $1.9 billion year-on-year, with a $1.1 billion hit from tariffs accounting for much of the drop.
Extreme weather misinformation 'putting lives at risk,' study warns
Major social media platforms are enabling and profiting from misinformation around extreme weather events, endangering lives and impeding emergency response efforts, a research group said Tuesday. "The influence of high-profile conspiracy theorists during climate disasters is drowning out emergency response efforts," the report said, adding that the trend was "putting lives at risk."
US Treasury chief says no reason for Fed chair to step down
US Treasury Secretary Scott Bessent said Tuesday that he did not see a reason for Federal Reserve Chair Jerome Powell to resign immediately, a day after calling for a sweeping review of the Fed. The Treasury chief had told CNBC earlier in the day that "what we need to do is examine the entire Federal Reserve institution and whether they have been successful."
AFP
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