AFP
13876 articles published since 08 Mar 2022
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Markets drift ahead of US inflation, but rate cut hopes build
Asian markets struggled Thursday following another tepid performance on Wall Street, with focus on the release of key US inflation data that comes as traders ramp up bets the Federal Reserve will cut interest rates next year. Traders are now predicting a cut in the first half of next year.
Musk's latest gamble: Tesla Cybertruck set for debut
Four years after startling the car world with designs for the Cybertruck, Elon Musk is set Thursday to mark the arrival of Tesla's iconoclastic take on the American pickup.
Musk regrets controversial post but won't bow to advertiser 'blackmail'
Elon Musk apologized Wednesday for endorsing a social media post widely seen as anti-Semitic, but accused advertisers who are turning away from his social media platform X of "blackmail" and said anyone who does so can "go fuck yourself." "I'm sorry for that tweet or post," Musk said Wednesday.
US slaps sanctions on crypto mixer used by N.Koreans for laundering
The United States on Wednesday slapped sanctions on a crypto mixer that it said was serving as a money laundering tool for hackers affiliated with the North Korean government. Crypto mixers are software allowing users to obfuscate transactions, and have been used by hackers in attempts to convert crypto into traditional currency.
Ottawa, Google reach 'historic' deal to support Canadian media
The Canadian government and Google announced Wednesday a "historic" deal to support the country's media, heading off an imminent threat by the digital giant to block news on its platform. The amount is less than the government had estimated the compensation should be, but heads off a potential online blackout for news in Canada, where Google and Meta are the dominating platforms.
US Fed finds signs of slowing economic activity
US economic activity has slowed in recent weeks and the labor market has continued to cool, the Federal Reserve announced Wednesday, as it continues its fight against stubborn inflation. "On balance, economic activity slowed since the previous report," the Fed announced in its regular survey of US economic conditions, known as the "beige book".
With auto strike over, GM announces big share buybacks
General Motors announced hefty new initiatives Wednesday to return billions of dollars to shareholders, lifting its stock price as it estimated the recent labor strike hit at $1.1 billion. GM estimated the total cost increase from new labor contracts at $1.5 billion in 2024 compared with the prior contracts.
Ikea net profit surges in 2023 as sales rise
Swedish furniture giant Ikea saw a five-fold increase in net profit for its full-year 2023 which ended in August, boosted by rising sales, Ingka Group which owns most Ikea franchises said Wednesday. Ingka accounts for more than 90 percent of Ikea's sales, which totalled 47.6 billion euros in 2023.
Austrian property tycoon's Signa to file for insolvency
Rene Benko's real estate giant Signa -- whose vast portfolio includes New York's iconic Chrysler building -- on Wednesday announced it would initiate insolvency proceedings, marking the spectacular downfall of the self-made Austrian tycoon. Signa said it would initiate insolvency proceedings at a Vienna court on Wednesday.
AFP
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