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Trump tells France's Macron US concerned with proposed digital services tax

WASHINGTON, July 20 ― US President Donald Trump spoke with French President Emmanuel Macron yesterday and expressed concerns about the country's proposed digital services tax, the White House said. The two leaders also discussed ongoing efforts to…


Wall Street slides as Fed signals smaller rate cut

NEW YORK, July 20 ― Wall Street's main indexes fell yesterday following a report that the Federal Reserve plans to cut interest rates by only a quarter-percentage point at the end of the month. The benchmark S&P 500 erased earlier marginal…


Wall Street edges higher on Microsoft’s beat, rate cut optimism

NEW YORK, July 19 — Wall Street’s main indexes inched higher today after solid results from technology giant Microsoft added to an upbeat mood following hints from a top Federal Reserve official that a US interest rate cut could be imminent….


India’s Reliance reports 6.8pc rise in profits

MUMBAI, July 19 — Indian conglomerate Reliance Industries today reported a 6.8 per cent rise in consolidated net profit despite a slowdown in its oil refining business. The Mumbai-based company owned by Asia’s richest man Mukesh Ambani said its…


Microsoft brightens Wall Street mood as rate cut hopes rise

NEW YORK, July 19 — US stock futures inched higher today as strong results for Microsoft’s cloud business fed into a bullish mood following signs from New York Fed President John Williams that the US central bank was set to cut interest rates…


Stock rally peters out as markets question US rate cut impact

LONDON, July 19 — European stock markets slipped back today after an initial rally, as investors cooled on comments by a top Federal Reserve official that hinted at the US central bank unveiling a deep interest rate cut at the end of the month….


Asian markets rally on fresh hopes for steep Fed rate cut

HONG KONG, July 19 — Asian markets rallied today as comments from a top Federal Reserve official were pounced on by investors as indicating the central bank will unveil a deep interest rate cut at the end of the month. John Williams, the…


Turkish lira firms after Trump says US not looking at sanctions on Turkey

ISTANBUL, July 19 ― The Turkish lira firmed yesterday afternoon after US President Donald Trump said the United States is not currently looking at sanctioning Turkey over its purchase of Russian air defence systems. The currency was steady earlier…


ECB report eases earnings pain for European stocks

LONDON, July 19 ― European stocks ended lower yesterday, as earnings worries ran high after poor results from software firm SAP sank technology shares, although hopes of looser monetary policy from the European Central Bank helped indexes bounce…


US-China officials discuss trade, Mnuchin eyes possible in-person talks

WASHINGTON, July 19 ― US and Chinese officials spoke by telephone yesterday as the world's two largest economies seek to end a year-long trade war, with US Treasury Secretary Steven Mnuchin suggesting in-person talks could follow. Mnuchin and US…