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Adidas reports hit from US tariffs
German sportswear giant Adidas said Wednesday it took a hit from US tariffs in the second quarter but did not indicate whether it would pass on rising costs to consumers. The company did not indicate whether it would pass on these costs to consumers and expressed concern that rising prices overall could dampen demand.
Italy opens probe into Meta over AI tool in WhatsApp
Italy said Wednesday it opened a probe into social media giant Meta for potentially breaking EU competition laws by installing its AI tool into WhatsApp.
Mercedes-Benz profit plunges on tariff, China woes
Premium German carmaker Mercedes-Benz said Wednesday its second-quarter profit plunged nearly 70 percent due to US tariffs and weak sales in China, prompting it to lower its full-year revenue outlook.
India exporters steel themselves as tariff clock ticks down
Indian exporters were bracing Wednesday for higher US tariffs to kick in as prospects dim for an interim trade deal between New Delhi and Washington before the August 1 deadline. While lower than the 26 percent reciprocal tariffs Washington previously announced in April, that would would still represent a leap from the current 10 percent baseline tariff on Indian shipments to the United States.
Could copper tariff hurt US more than Chile?
Chile, the world's biggest copper producer, is hoping for a last-minute deal to stop the United States from imposing a 50-percent import tariff on the red metal. - Impact on the US - The United States imports about 45 percent of the copper it needs for industrial use, according to the US Geological Survey, a government agency.
'Marathon at F1 speed': China bids to lap US in AI leadership
Beyond dancing robots and eager-to-help digital avatars, Shanghai's World AI Conference saw China stake its claim to global artificial intelligence leadership and frame itself as a clear alternative to the United States.
Stablecoins inspire hope, and hype, in Hong Kong
Stablecoin excitement has gripped Hong Kong as the city prepares to launch a licensing system for the less volatile type of cryptocurrency, but authorities warn against overplaying its future role in financial systems. "Some discussion on stablecoins may be overly idealistic," Yue warned, especially around their "potential to disrupt the mainstream financial system".
Markets mixed as China-US talks end, eyes on tech earnings
Asian markets were mixed Wednesday as investors kept tabs on China-US developments after they agreed to further talks to extend their trade truce, while eyes were also on tech earnings and a key Federal Reserve meeting. Major earnings releases from tech titans Meta and Microsoft are due Wednesday, with Amazon and Apple coming Thursday.
US Fed set to hold firm against Trump pressure
The US central bank is expected to defy political pressure and keep interest rates unchanged Wednesday at the end of a two-day policy meeting, as the effects of President Donald Trump's tariffs emerge. Analysts broadly expect the Fed to hold interest rates steady at a range between 4.25 percent and 4.50 percent.
AFP
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