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US Fed expected to pause again and hint at September rate cut
The US Federal Reserve is highly unlikely to waver from its position of holding interest rates at a two-decade high on Wednesday, but could drop hints about a September start to rate cuts.
Yen rises ahead of Bank of Japan decision as rate hike talk swirls
The yen extended its rally against the dollar Wednesday ahead of a much-anticipated Bank of Japan announcement, with debate centred on whether it will hike interest rates, while equities mostly rose on growing hopes for a cut in US borrowing costs.
Bot-like accounts on X fuel US political conspiracies, watchdog says
Bot-like accounts on social media platform X that spread misinformation and hate ahead of Britain's election are now amplifying conspiracy theories around US politics, a watchdog investigation revealed Tuesday, as the race to the White House kicks into high gear.
Australian airline Rex enters administration as finances sag
The Australian regional airline Rex cancelled flights as it entered voluntary administration Wednesday, leaving the fate of the country's third-largest carrier in serious doubt. Australia's second-largest airline, Virgin, offered to assist Rex customers hit by flight cancellations, the administrators said.
Samsung Electronics says Q2 operating profits soar to $7.5 billion
Samsung Electronics said Wednesday that its operating profits soared fifteen-fold to $7.5 billion for the second quarter, as chip prices bounce back and demand for generative AI continues to grow. And demand for the advanced chips that power AI systems has skyrocketed thanks to the success of ChatGPT and other generative AI products.
Starbucks profits fall again but CEO says turnaround underway
Starbucks reported lower profits Tuesday behind broad-based sales declines, but shares rose as the company said a turnaround was on track. The company also faces pressure from activist fund Elliott Investment Management, which took a stake in the chain and is pushing for ways to boost its share price, US media have reported.
Microsoft cloud unit miss dulls bright earnings
Microsoft shares slipped Tuesday after the tech giant reported quarterly profit climbed but its crucial cloud computing unit missed expectations. Cloud unit revenue of $36.8 billion, however, disappointed investors and shares slid more than five percent to $401.06 in after-market trades.
Texas says Meta to pay $1.4 bn to settle photo-tagging lawsuit
Meta has agreed to pay $1.4 billion to settle a lawsuit accusing it of violating a Texas state privacy law with a feature for "tagging" friends in Facebook photos, according to a deal finalized Tuesday. Meta agreed to pay the money over five years to settle the claims accusing the social networking giant of unlawfully capturing biometric data of Facebook users in Texas.
US Senate passes first major child online safety bills in years
The US Senate passed a sweeping social media safety package Tuesday that would force tech companies to do more to protect children -- the first major legislation targeting Silicon Valley in a generation.
AFP
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