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Stocks rally as bumber Nvidia report offsets Fed rate concern
Asian markets rallied Thursday after blowout earnings from chip powerhouse Nvidia cooled worries over an AI bubble and overshadowed a Federal Reserve report that dealt a blow to hopes for a December interest rate cut. "There's been a lot of talk about an AI bubble," he told an earnings call.
Nvidia reports 'off the charts' demand for AI chips
Nvidia shares climbed Wednesday after it beat quarterly earnings expectations on fierce demand for its sophisticated chips that power artificial intelligence. - China sales stalled - Nvidia reported profit of $31.9 billion on record-high quarterly revenue of $57 billion, sending shares up more than 5 percent.
Many US Fed members inclined against December cut: minutes
Many US Federal Reserve officials were leaning against another rate cut in December, meeting minutes showed Wednesday, a move sure to infuriate President Donald Trump as he pushes for lower rates. According to the minutes released Wednesday, "participants expressed strongly differing views about what policy decision would most likely be appropriate" in December.
China, Netherlands move to resolve Nexperia chip row
The Netherlands said Wednesday it had suspended its proposed takeover of Chinese-owned chip maker Nexperia in a sign of "good will", a move China welcomed as a positive "first step". "We see this as a show of good will," he said of his move to suspend the takeover, vowing to continue talking to Chinese officials.
Trump tariff hikes hit US August imports, delayed data shows
President Donald Trump's tariff hikes on dozens of trading partners hit US imports in August, according to a Wednesday report delayed by a record government shutdown that ended last week. Trade flows have been heavily swayed this year by President Donald Trump's fast-changing tariff policies, with importers rushing to stock up on inventory ahead of planned hikes in duties.
With Shein, Temu rising, EU to overhaul consumer protection rules
Faced with the explosive growth of online shopping platforms like Shein and Temu, the EU executive said on Wednesday it was time to reform consumer protection rules to match the new reality in e-commerce. "We must ensure that EU consumer law continues to provide strong protection, safeguarding consumer autonomy and freedom of choice," EU commissioner Michael McGrath said.
Mammoth German rail project hits the buffers - again
The opening of a mammoth German rail project, which has become emblematic of the infrastructure woes plaguing Europe's biggest economy, has been delayed yet again, reports said Wednesday. The project has come to symbolise the deterioration of German rail services in recent years, and more broadly the country's infrastructure, from crumbling bridges to patchy internet coverage.
Netherlands halts Nexperia takeover in gesture to China: minister
The Netherlands has suspended its proposed takeover of Chinese-owned chip maker Nexperia in a sign of "good will" towards Beijing, Dutch Economy Minister Vincent Karremans said Wednesday. On Wednesday, Karremans said that "in light of recent developments, I consider it the right moment to take a constructive step by suspending my order under the Goods Availability Act regarding Nexperia".
China passes US to return as Germany's top trade partner
China has reclaimed its title as Germany's top trading partner, dethroning the United States after President Donald Trump launched his tariff onslaught, official data showed Wednesday. China had already been Germany's top trading partner from 2016 to 2023 but the United States jumped into the top spot in 2024, as Berlin sought to reduce a long-standing economic reliance on China.
AFP
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