AFP
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China says trade jumped in July, beating forecasts
China's exports beat expectations and rose 7.2 percent year-on-year in July, official data showed Thursday, as overseas shipments buoyed its struggling economy even as it navigated a shaky trade war truce with the United States. But the figures also showed that China's exports to the United States, its largest trading partner, continued to fall, sinking 6.1 percent from the previous month.
Higher US tariffs take effect on dozens of economies
Higher US tariffs came into effect for dozens of economies Thursday, drastically raising the stakes in President Donald Trump's wide-ranging efforts to reshape global trade. - Devil in the details - The tariff order taking effect Thursday also leaves lingering questions for partners that have negotiated deals with Trump recently.
Sony hikes profit forecasts after strong quarter for games
PlayStation-maker Sony raised its annual profit forecasts on Thursday, citing strong performance in its key gaming business and a smaller-than-expected negative impact of US trade tariffs.
Markets rise as Trump chip exemptions boost tech giants
Asian equities rose Thursday, with big-name chip firms making big gains after Donald Trump said those investing in the United States would be exempted from a threatened 100-percent tariff on semiconductors. "Yes, 100 percent tariffs are unpalatable but if companies are given time to restore them, the real tax is just the higher cost of building chips in the United States."
United Airlines flights grounded in the US
Thousands of US air passengers were facing delays Wednesday after United Airlines halted many departures in the wake of a systemwide problem. "We are working with customers to get them to their destinations after a technology disruption on Wednesday evening," the airline said in a statement.
Mexican authorities accuse Adidas of cultural appropriation
Officials in the southern Mexico state of Oaxaca accused sportswear giant Adidas of cultural appropriation after the fashion brand debuted sandals similar to a traditional design from the region.
Trump's 'dividend' promise for Americans leaves open questions
If Donald Trump is to be believed, millions of Americans could receive a financial slice of the fortunes generated by the US president's sweeping tariffs. During the Covid pandemic, he insisted that his name be put on government checks distributed to tens of millions of Americans as financial support.
For Argentine farmers, Milei's free-market reforms fall short
Twenty months after Argentina's President Javier Milei came to power vowing to lead a free-market revolution in the so-called sick man of South America, the farming community is egging him on to go further. - Bumpy route to market - Milei was elected on a promise to cut spending, tame inflation and erase a steep budget deficit.
Bank of England set to cut rate as UK economy weakens
The Bank of England is widely expected to cut its key interest rate Thursday, with policymakers mindful of US tariffs and their potential risks to an already-struggling UK economy. The European Central Bank is meanwhile widely expected to keep rates unchanged at its next meeting, with eurozone inflation around the ECB's two-percent target.
AFP
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