Norway's sovereign wealth fund said Monday that it had divested from US construction equipment firm Caterpillar over purported involvement in rights violations in the Israel-Hamas war. The fund said it had also withdrawn from five Israeli firms for financing the construction of illegal settlements in the Israel-occupied West Bank.
Google-parent Alphabet on Wednesday reported quarterly profits that topped expectations, saying artificial intelligence has boosted every part of its business. "AI is positively impacting every part of the business, driving strong momentum."
Tesla reported another drop in quarterly profits Wednesday on lower auto sales amid intensifying electric vehicle competition and lingering backlash over CEO Elon Musk's involvement in US politics. Lower profits had been expected after Tesla earlier this month disclosed a decline in auto deliveries.
United States and European officials signaled progress in tariff talks Wednesday, after US President Donald Trump announced a pact with Japan and China said its vice premier would attend bilateral negotiations next week. As the clock ticks down, China said Wednesday it would seek to "strengthen cooperation" with Washington, and confirmed vice premier He Lifeng would attend the talks.
France's champagne producers said Wednesday they were cutting the amount of grapes to be made into the region's celebrated fizz by 10 percent due to an uncertain economic outlook. Although champagne sales "are relatively stable," the economic uncertainty "is prompting the industry to exercise caution", said the association, which represents 16,000 winegrowers and 350 champagne houses.
A Senate intervention led by Senator Barau Jibrin, the Deputy Senate President, will enable N-Power beneficiaries to receive N81 billion allowances.
Sales of previously-owned homes in the United States hit their lowest rate in nine months, according to industry data released Wednesday, as high home prices and mortgage rates weighed on the market. High mortgage rates were also fueling the gloom in home sales, he said.
Indian IT giant Infosys on Wednesday increased the lower end of its annual growth forecast for the current fiscal year after reporting better-than-expected results for the June quarter. The Bengaluru-headquartered firm also reported a 8.6 on-year increase in net profit to hit 69.2 billion rupees ($801 million) for the April-June quarter.
France's Canal+ said Wednesday it had cleared the final regulatory hurdle for the buyout of Africa's largest pay TV enterprise MultiChoice and further expand its footprint on the continent. The approval "clears the way for us to conclude the transaction in line with our previously communicated timeline" by October 8 at the latest, Canal+ chief executive Maxime Saada said in a statement.
The EU and Japan pledged on Wednesday to work together on championing a "free and fair" trade global system, as US tariffs and disputes with China rattle their economies. Facing a swirl of speculation over his future following a weekend election debacle, Ishiba said the EU and Japan concurred to work together to strengthen a "stable and predictable rules-based free and fair economic order".
Economy
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