US-European auto giant Stellantis, whose brands include Jeep, Peugeot and Fiat, dropped its annual financial guidance on Wednesday due to uncertainty over US President Donald Trump's tariffs. But the company said it was "suspending its 2025 financial guidance...due to evolving tariff policies, as well as the difficulty predicting possible impacts on market volumes and the competitive landscape."
The US jobs market was probably cooler than expected in the year through March, Labor Department data showed Wednesday, signaling weaker but still-positive growth. "The nuance there is very important," he added, telling AFP the data "does not point to a weak labor market."
The Nigerian government has proposed a 70% tax on foreign exchange earnings by commercial banks in Nigeria following the devaluation of the naira.
Ford announced Wednesday fresh changes to its electric vehicle lineup, including the scuttling of a planned SUV model, lifting shares despite a hefty near-term profitability hit. Among the changes, Ford is dropping a plan to produce a three-row electric utility vehicle that had previously been expected to be constructed in Oakville, Ontario.
Switzerland's new instant payment system will bolster the future of cashless payments in the country, the Swiss central bank said Wednesday after the scheme went live. The central bank said the first institutions had already launched retail offerings enabling customers to send instant payments, with further banks to follow in the coming months.
UK government borrowing jumped by far more than expected in July, official figures showed Wednesday, stoking fresh anxiety for the new Labour government ahead of its first budget in just over two months. Public sector net borrowing reached £3.1 billion ($4 billion) last month, the highest July figure since 2021 and well above expectations, the Office for National Statistics (ONS) said.
Asian equities sank Wednesday as traders take a breather from a global rally that has been fuelled by expectations the Federal Reserve will cut interest rates next month. And while traders are taking a step back for now, observers are optimistic that with more rate reductions on the way, equities have further to go.
Australia on Wednesday approved plans for a massive solar and battery farm that would export energy to Singapore, a project dubbed the "largest solar precinct in the world". "It will be the largest solar precinct in the world –- and heralds Australia as the world leader in green energy," said Environment Minister Tanya Plibersek.
Boeing has suspended flight testing of its new 777X wide-body jet after identifying the failure of a part connecting the engine to the body of the aircraft, the manufacturer told AFP on Tuesday. The part that brought about the suspension of flight testing is custom to the 777-9 model, and connects the engine to the aircraft structure, Boeing said.
The release dates for new episodes of the "Call of Duty" and "Borderlands" video games were announced Tuesday at the opening of the Gamescom showcase. "Call of Duty: Black Ops 6" will be released on October 25.
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