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UK court awards £700 mn to HP in late tycoon's fraud case
A UK court Tuesday awarded £700 million ($946 million) compensation to IT firm Hewlett Packard in a fraud case involving late British tech tycoon Mike Lynch, killed last year when his superyacht sank off Sicily.
Games giant Ubisoft bets on reorganisation to dispel blues
Struggling French video games giant Ubisoft shed light on a far-reaching reorganisation of its business Tuesday, as it reported disappointing sales in April-June.
Trump says confident US to reach Philippines trade deal
US President Donald Trump voiced confidence Tuesday at reaching a trade deal with the Philippines to ease his threatened tariffs as he welcomed his counterpart Ferdinand Marcos to the White House. A big trade deal, actually," Trump said as he met Marcos in the Oval Office.
General Motors profits fall on tariffs
General Motors reported Tuesday that second-quarter profits tumbled by more than a third due to tariffs as it confirmed its full-year forecast. Profits overall fell 35.4 percent to $1.9 billion year-on-year, with a $1.1 billion hit from tariffs accounting for much of the drop.
Extreme weather misinformation 'putting lives at risk,' study warns
Major social media platforms are enabling and profiting from misinformation around extreme weather events, endangering lives and impeding emergency response efforts, a research group said Tuesday. "The influence of high-profile conspiracy theorists during climate disasters is drowning out emergency response efforts," the report said, adding that the trend was "putting lives at risk."
US Treasury chief says no reason for Fed chair to step down
US Treasury Secretary Scott Bessent said Tuesday that he did not see a reason for Federal Reserve Chair Jerome Powell to resign immediately, a day after calling for a sweeping review of the Fed. The Treasury chief had told CNBC earlier in the day that "what we need to do is examine the entire Federal Reserve institution and whether they have been successful."
Coca-Cola plans US cane sugar alternative after Trump push
Coca-Cola on Tuesday said it would release a version of Coke in the United States made with US-grown real cane sugar, a move requested by President Donald Trump. Trump last week said that the company had agreed to use cane sugar in the United States version of Coke.
US Treasury chief eyes China tariff deadline extension in talks next week
US Treasury Secretary Scott Bessent said Tuesday that he would meet his Chinese counterparts in Stockholm next week for tariff talks, eyeing an extension to a mid-August deadline for levies to snap back to steeper levels.
AstraZeneca to invest $50 bn in the US as tariff threat looms
British pharmaceutical giant AstraZeneca said Tuesday it would invest $50 billion in the United States by 2030 amid Donald Trump's threats to impose tariffs on the sector. The United States is a key market for the pharmaceutical industry, and AstraZeneca said it expects 50 percent of its revenue to come from the US by 2030.
AFP
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