AFP
13876 articles published since 08 Mar 2022
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Asian markets struggle as US data dents Fed rate cut optimism
Asian markets mostly fell Friday after data pointing to a still-strong US economy raised fresh concerns about inflation and dampened optimism that the Federal Reserve will slash interest rates as much as it expected this year.
Tepid Nike outlook dents shares as it touts Olympic offerings
Shares of Nike tumbled Thursday after the sports giant signaled a tepid near-term revenue outlook even as it promised to wow consumers with new offerings in an Olympic year. Friend also forecast a revenue drop in the "low single digits" in the first half of the next fiscal year, in part reflecting "the subdued macro outlook around the world," he said.
EU agrees to move ahead on using Russian assets for Ukraine
EU leaders on Thursday agreed to "take work forward" on a plan to use the profits from frozen Russian central bank assets to arm Ukraine, as Kyiv pleaded for more ammunition for its outgunned forces. - Kremlin threatens retaliation - EU leaders insisted the plan to target the interest being made by the frozen assets was legally sound.
Apple's 'Walled Garden' under fire in lawsuit
Call it a "walled garden" or an ecosystem, but at the heart of Thursday's blockbuster US lawsuit against Apple are the many ways the company gets customers to remain faithful to its products. - Garden grows - With the iPhone revolution that made Apple one of the most profitable companies in history, the ecosystem only grew.
16 US states challenge Biden admin freeze on new LNG export approvals
Texas and 15 other US states filed a lawsuit on Thursday challenging the Biden administration's freeze on new liquefied natural gas exports. Texas, the leading US producer of crude oil and natural gas, and 15 other Republican-led states filed a lawsuit in a federal court in Louisiana on Thursday opposing the move.
Mexico cuts interest rate for first time in three years
Mexico's central bank on Thursday reduced its benchmark interest rate for the first time in three years following a slowing of inflation in Latin America's second-largest economy. The key interest rate was reduced by 0.25 percentage points to 11.00 percent, the central bank, also known as Banxico, said in a statement.
Bank of England freezes interest rate at 16-year high
The Bank of England on Thursday held its key interest rate at a 16-year high, opting against a reduction as inflation remains elevated despite recent slowdowns. High interest rates have worsened the squeeze for individuals and businesses alike, as commercial lenders put up their own interest rates on loans including mortgages.
Germany football teams to swap Adidas for Nike kit from 2027
Germany's national football teams will wear jerseys made by US sportswear giant Nike from 2027, the German Football Association (DFB) said Thursday, ending a decades-long kit partnership with domestic outfitter Adidas. Adidas had been paying approximately 50 million euros ($54 million) a year to kit out the German national football teams, according to German daily Bild. sea/hmn/gj
Apple 'aunties' greeted with cheers at Shanghai store opening
Chinese Apple superfans jostled to enter the smartphone maker's newest store in Shanghai as it opened on Thursday night -- but they were upstaged by dozens of retirees eager to nab commemorative freebies.
AFP
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