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CAIRO — In the 2010 Egyptian film Bittersweet, the protagonist Masry returns home after two decades in the United States, only to find that life in Cairo still runs on “tea money” small bribes paid to grease the wheels of bureaucracy. When an official at a passport office demands “tea with 100 spoonfuls of sugar,” … Read more
SEOUL, South Korea — Asia Pacific leaders on Saturday closed the annual Asia Pacific Economic Cooperation (APEC) summit with a joint declaration calling for shared prosperity and resilient trade, reflecting the growing fractures in the global economic order. The meeting, hosted in Seoul, sought to reaffirm regional cooperation even as geopolitical tensions, tariffs, and export … Read more
NEW YORK — Amazon shares climbed sharply Thursday after the e-commerce giant posted better than expected third quarter results, while Apple’s chief executive predicted the company’s best ever holiday quarter. The upbeat tone from Big Tech helped lift investor sentiment, with Reddit and Coinbase also advancing as markets entered the busiest stretch of the third … Read more
Boeing Co. has announced another major setback to its long delayed 777X aircraft program, taking a nearly $5 billion charge and pushing the first delivery to 2027. The move adds to a series of financial and operational blows for the planemaker as it struggles to stabilize production and regain investor confidence after years of disruptions. … Read more
GYEONGJU, South Korea — President Donald Trump said Wednesday he expects to sign a long awaited trade deal with Chinese President Xi Jinping during their meeting at the Asia Pacific Economic Cooperation (APEC) Summit, raising hopes of a breakthrough in one of the world’s most consequential economic relationships. “President Xi of China is coming tomorrow … Read more
Microsoft Corp. has taken a $135 billion stake in OpenAI, giving the tech giant roughly 27 percent ownership in the artificial intelligence company. The move, formalized through a new agreement between the two firms, underscores Microsoft’s long term bet on artificial intelligence and signals a deepened alignment between two of the most influential players in … Read more
SAN JOSE, Calif. — PayPal Holdings Inc. reported third quarter results that surpassed Wall Street expectations, sending its stock soaring nearly 15 percent in after hours trading. The digital payments giant posted revenue of $8.42 billion for the quarter ended September 30, a 7.3 percent increase from the same period last year. Non GAAP earnings … Read more
WASHINGTON — Huntington Bancshares announced Monday that it will acquire smaller rival Cadence Bank in an all stock transaction valued at $7.4 billion, marking one of the year’s most significant regional bank mergers. The move reflects a growing trend among mid sized US lenders to build scale, diversify geographically, and strengthen financial resilience amid rising … Read more
US stock futures advanced Monday morning as investors positioned themselves for a pivotal week filled with market moving events including a Federal Reserve policy meeting, quarterly results from Big Tech giants, and an anticipated summit between former President Donald Trump and Chinese President Xi Jinping. Futures tied to the Dow Jones Industrial Average gained roughly … Read more
BEIJING — China industrial profit growth accelerated sharply in September, rising 21.6 percent from a year earlier the biggest increase in nearly two years, according to data released Monday by the National Bureau of Statistics (NBS). The surge follows a 20.4 percent gain in August and signals that Beijing’s campaign to stabilize factory margins is … Read more
