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McDonald's sees US rebound but says low-income diners remain stressed
McDonald's profits rose in the second quarter behind a rebound in US sales but executives said Wednesday that low-income consumers remained under economic stress. McDonald's Chief Executive Christopher Kempczinski described the US consumer base as "bifurcated," with weakness in low-income consumers a reason for lingering caution on the outlook, he said at the outset of an earnings conference call.
Trump hikes India levy over Russian oil as tariff deadline approaches
US President Donald Trump on Wednesday ordered steeper tariffs on Indian goods over New Delhi's continued purchase of Russian oil, opening a new front in his trade wars just hours before another wave of duties takes effect.
Swiss president to meet Rubio as surprise tariff hike looms
Switzerland's president met with her country's business representatives Wednesday in Washington -- ahead of scheduled talks with the US secretary of state -- in a last-minute visit as she scrambles to avoid a surprise tariff hike. On Wednesday morning, Keller-Sutter and Parmelin arrived at the State Department in Washington for their scheduled talks with US Secretary of State Marco Rubio.
Italy approves plans for world's longest suspension bridge
Italy's government on Wednesday approved a controversial 13.5-billion-euro ($15.6-billion) project to build what would be the world's longest suspension bridge connecting the island of Sicily to the mainland. Italian politicians have for decades debated a bridge over the Strait of Messina, a narrow strip of water between the island of Sicily and the region of Calabria, at the toe of Italy's boot.
German broadcast giant backs takeover by Berlusconi group
German broadcasting giant ProSiebenSat.1 recommended Wednesday that its shareholders accept an improved takeover offer from Italy's MediaForEurope group, majority-owned by the family of late former prime minister Silvio Berlusconi.
UK watchdog bans Zara ads over 'unhealthily thin' model photos
Britain's advertising regulator on Wednesday banned two adverts by Spanish clothing group Zara for featuring models that appeared "unhealthily thin", calling the images "irresponsible". Another featured a model who looked "slightly gaunt" owing to a slicked-back hairstyle and that the lighting and clothing made her appear "noticeably thin", the ASA said.
Natural disasters caused $135 bn in economic losses in first half of 2025: Swiss Re
Natural disasters caused $135 billion in economic losses globally in the first half of 2025, fuelled by the Los Angeles wildfires, Swiss Re said Wednesday.
German factory orders fall amid tariff, growth woes
German industrial orders unexpectedly fell in June, official data showed Wednesday, as Europe's biggest economy struggles with prolonged domestic weakness and volatile US trade policy. Orders from abroad fell three percent, with a particularly heavy drop from countries outside the eurozone, while domestic orders increased slightly.
Ozempic maker Novo Nordisk posts strong results but competition weighs
Danish pharmaceutical giant Novo Nordisk posted a sharp rise in second-quarter net profit Wednesday, but rising competition is weighing on sales of its diabetes and obesity treatments Ozempic and Wegovy in the United States. But it now faces growing competition from rival treatments made by US group Eli Lilly in United States.
AFP
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