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South Korea exports hit July record despite US tariff pressures
South Korea's exports surged to their highest level ever for a July, fuelled by strong overseas demand for semiconductors and automobiles, despite US tariffs weighing on trade, government data showed Friday. Semiconductors, South Korea's main export, recorded more than $14 billion -- the highest-ever for July, increasing by almost a third from the previous year.
Stocks struggle as Trump unveils new tariff sweep offsets earnings
Asian markets mostly fell Friday as Donald Trump announced tariffs on dozens of trading partners ahead of a self-imposed deadline, offsetting strong earnings from tech giants. The tariff uncertainty overshadowed earnings from major tech titans this week that saw Apple on Thursday post double-digit quarterly revenue growth that beat expectations.
US tech titan earnings rise on AI as economy roils
Tech giants Amazon, Apple, Meta and Microsoft this week eclipsed earnings expectations, cashing in on artificial intelligence (AI) while navigating economic waters roiled by US tariffs. - Meta reported robust second-quarter financial results Wednesday, with revenue jumping 22 percent year-over-year as the social media giant continues investing heavily in artificial intelligence.
Nvidia says no 'backdoors' in chips as China questions security
Nvidia chips do not contain "backdoors" allowing remote access, the US tech giant has said, after Beijing summoned company representatives to discuss "serious security issues". Beijing's top internet regulator said Thursday it had summoned Nvidia representatives to discuss recently discovered "serious security issues" involving the H20.
Trump orders tariffs on dozens of countries in push to reshape global trade
President Donald Trump ordered the reimposition of tariffs on dozens of trading partners Thursday -- his cornerstone strategy for reshaping global trade to benefit the US economy. Just Thursday, Trump announced he was delaying a tariff hike on products from the major US trading partner Mexico.
Heathrow unveils £49 bn expansion plan for third runway
London's Heathrow Airport on Friday unveiled a £49-billion ($65 billion) expansion plan, including the costs of building a long-awaited third runway, approved by the UK government after years of legal wrangling. The government is expected to also back expansion at Gatwick airport, south of the capital, in October -- having recently approved upgrades to London's Stansted, Luton and City airports.
Amazon profits surge 35% but forecast sinks share price
Amazon reported a 35 percent jump in quarterly profits Thursday as the e-commerce giant said major investments in artificial intelligence began paying off. - 'Curveballs' - Amazon Web Services (AWS), the company's world leading cloud computing division, led the charge with sales jumping 17.5 percent to $30.9 billion.
Brazil vows to fight Trump tariff 'injustice'
Brazil vowed Thursday to combat US President Donald Trump's tariffs on its exports, saying it intends to lodge appeals if last-ditch negotiations fail. If negotiations fail, Haddad said Brasilia would "file appeals with the appropriate authorities, both in the United States and with international bodies."
Apple profit beats forecasts on strong iPhone sales
Apple on Thursday reported quarterly profit of $23.4 billion, topping forecasts despite concerns about the effect of US tariffs on its supply chain. Revenue in Apple's services business selling digital content and subscriptions to fans of its devices grew to $27.4 billion in the quarter, Apple reported. gc/dw
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