ABOARD AIR FORCE ONE — President Donald Trump described his face-to-face with Chinese leader Xi Jinping on Thursday as a roaring success, saying he would cut tariffs on China, while Beijing had agreed to allow the export of rare earth elements and start buying American soybeans. The ...
NEW YORK — Amazon posted higher fiscal third quarter profit and sales compared with a year ago, fueled by accelerating growth in its cloud computing business and strong spending by its customers looking for low prices at a time when inflation is resurging. The results, announced Thursday, beat Wall Street expectations. The company’s prominent cloud computing arm also surpassed analysts’ expectations, rising 20%. But Amazon issued a cautious sales outlook for the fiscal fourth quarter. Shares, however, soared nearly 13% in after-hours trading. Analysts are analyzing Amazon’s ...
WASHINGTON — The Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring, even as inflation stays elevated. But Fed Chair Jerome Powell also cautioned that further rate cuts weren’t guaranteed, citing the ...
President Donald Trump and Chinese leader Xi Jinping are meeting face-to-face today in South Korea. Tensions between the world’s two largest economies have soared since Trump returned to office for a second term, and hiked import tariffs. China has retaliated by limiting exports of rare earth minerals, and shunning U.S. soybeans. The markets have been nervous but ahead of the meeting, officials from both countries signaled that there could be a detente. But the countries remain on a potential collision course as they compete to dominate manufacturing, develop AI technologies, and ...
NEW YORK — Microsoft has deployed a fix to address an outage of their Azure cloud portal that left users unable to access Office 365, Minecraft and other services. The tech company wrote on its to its Azure status page that a configuration change to its Azure infrastructure caused the outage, and that its fix is being rolled out. Microsoft didn’t immediately respond to a request for comment, but the company acknowledged issues with its Azure Front Door, a global content and application delivery network, service on its status page and social media accounts. Because so many sites ...
WASHINGTON — The Senate passed legislation Wednesday that would nullify U.S. tariffs on Canada, just as President Donald Trump is engaged in trade talks in Asia as well as an increasingly bitter trade spat with U.S.’s northern neighbor that is one of its largest economic partners. The 50-46 tally was the latest in a series of votes this week to terminate the national emergencies that Trump has used to impose tariffs. While the resolutions won’t ultimately take effect, they have proven to be an effective way for Democrats to expose cracks between the president’s trade policy and ...
