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Ex-Fed chief says Trump bid to oust US governor Cook 'dangerous'
US President Donald Trump's move to oust Federal Reserve Governor Lisa Cook marks a direct attempt to politicize the central bank and is "profoundly dangerous," former Fed chief Janet Yellen warned Wednesday. On Wednesday, Yellen warned that the Fed's interest rate decisions would lose credibility if markets believed the central bank was guided by political orders.
Defence giant Rheinmetall opens mega-plant as Europe rearms
German weapons-maker Rheinmetall opened Europe's largest munitions plant on Wednesday, a move hailed as boosting Western defences by NATO chief Mark Rutte.
'Resident Evil' makers marvel at 'miracle' longevity
When zombie-blasting survival game "Resident Evil" launched on the very first PlayStation console in 1996, Japanese publishers Capcom never thought the series would reach tens of millions of people or endure for three decades.
Lego posts record sales, sees market share growing further: CEO
Danish toymaker Lego, the world's biggest, posted record sales for the first half of the year and continues to gain market share despite global volatility, its chief executive told AFP. "Over the last several years, we have been able to outgrow the market and take market share pretty consistently," Niels Christiansen said in an interview.
German factory outfitters warn of 'crisis' from US tariffs
Germany's plant and equipment makers' federation warned Wednesday the sector is facing an "existential crisis" after the United States broadened the reach of its metals tariffs. "The harm caused by them, along with the prospect of still more in the months to come, are sending key machinery sectors hurtling toward the precipice of an existential crisis," wrote the group's president Bertram Kawlath.
US tariffs on Indian goods double to 50% over Russian oil purchases
US tariffs of 50 percent took effect Wednesday on many Indian products, doubling an existing duty as President Donald Trump sought to punish New Delhi for buying Russian oil. While Trump has slapped fresh duties on allies and competitors alike since returning to the presidency in January, this 50-percent level is among the highest that US trading partners face.
Asian markets diverge with eyes on Nvidia earnings
Asian markets diverged Wednesday morning following broad losses the previous day, as attention turns from political pressure on the US central bank to a key earnings report by AI giant Nvidia. California-based AI chip giant Nvidia will report second-quarter financial results on Wednesday evening, closely watched as a bellwether for the industry as worries about a tech bubble rise.
SpaceX set once more for Starship test flight
SpaceX on Tuesday was once again gearing up for the latest launch of its Starship megarocket after two successive postponements. While SpaceX previously wowed observers by catching the booster in the launch tower's "chopstick arms," this flight will instead focus on data collection under less-than-ideal flight profiles.
Who is Lisa Cook, the Fed governor Trump seeks to fire?
Lisa Cook, the first Black woman to serve on the powerful Federal Reserve Board of Governors, has become US President Donald Trump's latest target as he ramped up pressure on the central bank. Cook was one of former president Joe Biden's choices to fill open seats on the Fed board -- a seven-member body guiding US monetary policy -- and she took office as a Fed governor in May 2022.
AFP
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