MADRID (Reuters) – Fashion brand Zara’s owner Inditex reported on Wednesday a 24.5% jump in six-month sales and a higher profit than a year ago, closing July on a strong footing just before fashion demand started weakening last month due to rampant inflation. (Reporting by Corina Pons, editing by Inti Landauro.)
By Paresh Dave OAKLAND, Calif. (Reuters) -Alphabet Inc’s Google must face all but one antitrust allegation about its online advertising business brought in a lawsuit by attorneys general for Texas and 16 other states or territories, a federal judge ruled on Tuesday. Google won its motion to dismiss an allegation that a cooperation agreement it…
Shares were mostly higher in Asia on Thursday after a wobbly day of trading yielded modest gains on Wall Street. U.S. futures inched up while oil prices were mixed. Shanghai’s benchmark lost 1% to 3,204.93 after China’s central bank left its benchmark lending rate unchanged. While other major economies are raising rates to cool inflation,…
WASHINGTON (AP) — U.S. inflation is showing signs of entering a more stubborn phase that will likely require drastic action by the Federal Reserve, a shift that has panicked financial markets and heightens the risks of a recession. Some of the longtime drivers of higher inflation — spiking gas prices, supply chain snarls, soaring used-car…
(Reuters) – Apple Inc is planning to use an updated version of Taiwanese chipmaker TSMC’s latest chip producing technology in iPhones and Macbooks next year, the Nikkei Asia newspaper reported on Wednesday. The A17 mobile processor, which is currently under development, will be mass-produced using TSMC’s N3E chipmaking tech, expected to be available in the…
BEIJING (AP) — Chinese leader Xi Jinping is keeping the West guessing about whether Beijing will cooperate with tougher sanctions on Russia as he meets President Vladimir Putin a year after declaring they had a “no limits” friendship ahead of the Kremlin’s invasion of Ukraine. China has avoided violating sanctions but its purchases of Russian…
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) -Japanese policymakers on Wednesday reiterated their readiness to take “necessary action” against rapid yen moves, in the wake of a slide in the currency triggered by bets the U.S. Federal Reserve would raise interest rates higher and for longer. When asked about the yen’s sharp overnight falls,…
By Daniel Leussink and Kantaro Komiya TOKYO (Reuters) -Japan’s core machinery orders extended gains in July, raising hopes business growth spending may offset near-term headwinds from a global economic slowdown and a weaker yen, which has pushed up costs at home. The surprise increase in core orders – a barometer of capital expenditure – could…
By Sameer Manekar (Reuters) -Rio Tinto Ltd said on Wednesday it would team up with its biggest customer China Baowu Steel Group to develop an iron ore project in Western Australia for $2 billion as it looks to prop up its production from the Pilbara region. The deal comes amid fraught ties between Australia and…
By Sheila Dang and David Shepardson (Reuters) -The FBI informed Twitter Inc of at least one Chinese agent working at the company, U.S. Senator Chuck Grassley said during a Senate hearing on Tuesday where a whistleblower testified, raising new concerns about foreign meddling at the influential social media platform. Peiter “Mudge” Zatko, a famed hacker…
