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Some Fed officials backed rate hike in June, minutes show
Some members of the US Federal Reserve's rate-setting committee supported another interest rate hike in June to tackle high inflation, but ultimately voted for a pause, the Fed announced Wednesday.
Meta's Twitter-like Threads app will not launch in Europe
Facebook owner Meta's new Threads app, meant to rival Twitter, will not be available in the European Union when it launches Thursday because of regulatory concerns, a source close to the company said.
Automakers report higher Q2 car sales in US
Leading automakers reported a jump in quarterly US car sales Wednesday, reflecting increased vehicle inventory levels and the support of a strong US labor market. US new vehicle inventory levels were up more than 70 percent in June compared with the year-ago period, according to Cox Automotive, which boosted its 2023 auto sales forecast last week.
US forces prevented Iran from seizing two tankers near Oman: Pentagon
The US military said Wednesday it had blocked two attempts by the Iranian navy to seize commercial tankers in international waters off Oman, including one case in which the Iranians fired on the tanker. In April Iran seized two tankers within a week in regional waters.
Saudi says oil cuts show not at odds with Russia
Saudi Arabia on Wednesday dismissed talk of discord with oil ally Russia, praising their coordinated decisions to remove barrels from the market in efforts to prop up prices. Moscow and Riyadh have not always talked with one voice regarding oil quotas, with Russia less enthusiastic than Saudi Arabia about cutting production as it needs the revenue amid its war in Ukraine and Western sanctions.
German cabinet approves belt-tightening draft budget
Germany's coalition government approved a draft of next year's budget Wednesday after fractious negotiations, aiming to impose deep cuts after years of big spending while giving defence a boost. The cabinet approved the draft budget Wednesday, according to government sources, and Lindner will present it at a press conference later in the day.
Turkey's inflation rate slows to 38.2%
Turkey's annual inflation rate slowed to 38.2 percent in June, official data showed Wednesday, although economists warned that this may be a low point for the year. A separate study released by independent economists from the ENAG group who question the official data put the June figure at 108.6 percent, up from 105.2 percent in May.
Austria's new answer to long-term unemployment
After spending years at home bringing up her two children, electrical systems technician Sarah Sklenicka found it a "big challenge" to get back into the job market. The big challenge for the scheme was "what do you do with certain people who we cannot integrate into the primary job market?"
Study trips, livestreamed fish: Japan's Fukushima charm campaign
From livestreamed fish to diplomatic study trips, Japan is waging a concerted campaign to calm controversy before it begins releasing treated water from the Fukushima nuclear plant into the sea.
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