BUSINESS

Asian markets wavered Wednesday after data showing the first drop in Chinese consumer prices compounded worries about the world's number two economy.

China slipped into deflation as consumer prices contracted last month for the first time in more than two years, official data showed Wednesday, as slowing domestic spending weighs on the country's post-Covid economic recovery.

In his dry cleaning shop near the Warner Bros. and Disney studios, Tom Malian looks in despair at a carousel mostly empty of the shirts, jackets and pants it held before Hollywood went on strike.

The United States is seeking to prevent Russia from scoring a major new win with coup-hit Niger, wagering despite initial disappointment that long-standing military ties will keep the country in the Western orbit.

Media on Tuesday asked Canada's competition watchdog to investigate Meta's blocking of news articles on Facebook and Instagram, accusing the tech giant of using its dominance to gobble up online advertising money.

The World Food Programme has started distributing food aid in Ethiopia's war-scarred Tigray region, in a test for new monitoring measures after halting assistance over the diversion of supplies, the United Nations agency said on Tuesday.

Taiwanese chip giant TSMC agreed Tuesday to plough $3.8 billion (3.5 billion euros) into a new semiconductor factory in Germany, lending a major boost to Europe's efforts to bring production onto the continent.

The US trade deficit narrowed in June on a bigger pullback in imports than exports, according to government data released on Tuesday.

Italy's right-wing government has unveiled a surprise 40 percent windfall tax on "surplus profits" generated by the rise in interest rates, sending shares in the country's banks plunging Tuesday.

UPS lowered its full-year outlook on Tuesday, citing the volume effects and higher costs of its recent labor negotiation as the shipping company reported a drop in quarterly profits.

Thousands of people displaced by 12 years of war are stuck in squalid, unofficial camps in Syria's Kurdish-held northeast, languishing in extreme poverty and largely cut off from international assistance.

Stock markets stuttered Tuesday on renewed concerns that the Federal Reserve will hike rates again, while another weak batch of trade data compounded worries about the struggling Chinese economy.

Rescue workers combed through the rubble of damaged buildings in the city of Pokrovsk in eastern Ukraine on Tuesday, the day after Russian strikes killed at least seven people.

On election day in Zimbabwe this month, Tendai and his wife will leave home and head in opposite directions.

London-based sex worker Marin Scarlett and right-wing populist Nigel Farage might initially appear unlikely campaigning allies, but when it comes to the pitfalls of banking in Britain they share a common cause.

China last month suffered its biggest drop in exports for more than two years, according to official figures Tuesday. The data will likely ramp up calls for leaders to do more to revive growth, having laid out a series of stimulus measures in recent weeks.

Asian markets stuttered Tuesday on renewed concerns that the Federal Reserve will hike rates again, while ongoing worries about the Chinese economy added to the negativity.

PayPal on Monday launched a stablecoin digital currency backed by US dollars to be used for transactions at its global online payments platform.

Paramount Global said Monday it had reached an agreement to sell Simon & Schuster, a top US publisher, to private equity firm KKR for $1.62 billion.

Crouching beside Ukrainian-made attack drones on a runway, TV star Serhiy Prytula appeared keen to taunt Moscow with a crowdfunded fleet that experts have linked with recent strikes inside Russia.

With corruption claims threatening to engulf his global business empire, French-Israeli billionaire Patrick Drahi said Monday that he felt "betrayed and deceived" by a small group of his colleagues.

European stock markets retreated Monday on further poor economic data for the region and following a mixed showing by major Asian indices.

According to a recent FactSet Geographic Revenue Exposure report, S&P 500 companies with more than 50% overseas sales have suffered a revenue and earnings shortfall, underperforming those with less than 50% overseas sales presence.

Oil firm Saudi Aramco on Monday announced profits of $30.08 billion for the second quarter, a sharp fall from the same period last year when prices surged after Russia invaded Ukraine.

Marianne Dubuis stared intently through a magnifying glass, using a slim cutter to make tiny incisions in paper as she carved out delicate tableaux of life and human emotions.

Vietnam's EV sector is expected to see strong growth this year, driven by local production, but challenges such as low income among the public and inadequate charging infrastructure may dampen hope.

Asian equities swung Monday following a mixed US jobs report that left investors weighing the chances of another Federal Reserve interest rate hike.

The long-suffering people of Niger's capital, Niamey, are used to intermittent power cuts.

Hollywood's pink wave has yet to crest as Warner Bros.' Not only has "Barbie" thus become the first movie directed solely by a woman to pass the $1 billion mark, but it did so faster than any film -- including those directed by men -- in Warner Bros.' 100-year history, executives there said.