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US Fed holds firm against Trump pressure as divisions emerge
US Fed holds firm against Trump pressure as divisions emerge
Economy
by  AFP

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 beats expectations sending share price soaring
Economy
by  AFP

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
Microsoft quarterly profits soar on AI and cloud growth
Economy
by  AFP

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.