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Asia stocks rise on AI, US-China trade talks optimism

Asian stock markets mostly rose on Monday morning, boosted by global demand for artificial intelligence technology and positive signals from trade talks over the weekend between Chinese and US officials.

US seeks 'AI dialogue' with China as officials set stage for Trump-Xi summit

US and Chinese economic officials discussed creating a communication channel for AI concerns at meetings Sunday as they set the stage for a summit of the countries' top leaders this week.

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Microsoft earnings fall short as computer sales sag

Microsoft on Tuesday said that its earnings in the recently ended quarter fell shy of expectations as personal computer sales suffered from production holdups in China and sagging demand.

New York asks WHO to re-name 'stigmatizing' monkeypox

New York City asked the World Health Organization (WHO) on Tuesday to rename the monkeypox virus to avoid stigmatizing patients who might then hold off on seeking care.

Saudi prince to sign deal for 'cheaper energy' in Greece

Saudi Crown Prince Mohammed bin Salman announced upcoming bilateral projects on a visit to Greece Tuesday, including for a power cable between both countries to provide Europe with "cheaper renewable energy".

Twitter shareholders to vote on Musk buy in September

Twitter on Tuesday urged shareholders to endorse the $44 billion deal Elon Musk made to buy the online podium, setting a vote on the merger for September 13.

Buzz Aldrin's Apollo 11 jacket sold for $2.7 mn

The jacket worn by US astronaut Buzz Aldrin during his 1969 flight to the Moon aboard Apollo 11 was sold at auction for $2.7 million in New York Tuesday, Sotheby's announced.

Biden hails $22 bln investment by S. Korea's SK Group

President Joe Biden on Tuesday hailed progress in the US bid to revamp its 21st century economy after huge South Korean group SK announced a $22 billion investment in US semiconductor and other cutting edge industries.

Google-parent Alphabet's profit slips as growth slows

Google-parent Alphabet on Tuesday reported its profit in the recently ended quarter slipped to $16 billion as its long sizzling ad revenue growth cooled.

Biden undecided on China tariffs ahead of Xi call: W.House

President Joe Biden has still not decided whether to end some trade tariffs on China ahead of a phone call expected this week with his Chinese counterpart Xi Jinping, a senior official said Tuesday.

Russia doing better than expected despite sanctions: IMF

Despite damaging Western sanctions imposed on Moscow in the wake of the invasion of Ukraine, Russia's economy appears to be weathering the storm better than expected as it benefits from high energy prices, the IMF said Tuesday.

Don't let inflation 'genie' out of the bottle: IMF economist

The global economy is facing a worrisome slowdown, but the critical priority for policymakers is to bring raging inflation under control, the IMF's chief economist said Tuesday.

France struggles with drought over punishing summer of heat

From farmers to fishermen, boat owners to ordinary households, communities across France are struggling with a severe drought that has seen an unprecedented number of regions affected by water restrictions this summer.

Stocks slide as gas prices and inflation erode confidence

Eurozone and US stocks sank on Tuesday on gas supply fears and renewed concerns about the impact of inflation.

Coca-Cola results boosted by comeback in 'away-from-home' spending

Higher prices and a comeback in away-from-home sales helped Coca-Cola score solid quarterly profits Tuesday in spite of increased operating costs and the drag of the strong US dollar in international markets.

France committed to Africa's security, says Macron

French President Emmanuel Macron on Tuesday declared his country would support Africa's need for security as he embarked on a three-nation tour aimed at renewing France's relations with the continent.

EU to cut Russian gas use as missiles strike Ukraine

The European Union agreed to reduce gas consumption to break its dependence on Russia on Tuesday, as missile strikes on Ukraine's Black Sea coast cast doubt on a grain export deal.

Amazon hikes Prime subscription in five European countries

Amazon Prime customers in five European countries learned Tuesday that they face double-digit price increases for the platform's expedited delivery service.

IMF cuts global growth outlook due to US, China slowdowns

Surging inflation and severe slowdowns in the United States and China prompted the IMF Tuesday to downgrade its outlook for the global economy this year and next, while giving an even starker assessment of what may lie ahead.

Faster growth may help bacteria remove lake plastic waste: study

Chemicals leaking from plastic waste make bacteria grow faster in European lakes, according to research published Tuesday that authors said could provide a natural way to remove plastic pollution from freshwater ecosystems.

Saudi prince heads to EU for first time since Khashoggi killing

Saudi Crown Prince Mohammed bin Salman was set to embark on a visit to Greece and France on Tuesday, state media reported, his first Europe trip since the 2018 killing of Saudi journalist Jamal Khashoggi.

VW's new CEO faces twin challenges of Porsche, software problems

When Oliver Blume ascends to the top job at German automaker Volkswagen in September, he will be faced with taming the challenges that led to the fall of his predecessor, Herbert Diess, last week.

McDonald's tracking inflation impact as Russia exit hits profits

McDonald's reported lower profits Tuesday following the hit from its Russia withdrawal, as it keeps a close eye on restaurant traffic amid rising consumer inflation.

IMF cuts global growth outlook amid US, China slowdowns

Surging inflation and severe slowdowns in the United States and China prompted the IMF Tuesday to downgrade its outlook for the global economy this year and next, while warning that the situation could get much worse.

Pope to hold mass in Canada after apology for Indigenous abuse

Tens of thousands of people are expected to attend a mass by Pope Francis in western Canada Tuesday, a day after his historic apology for the abuse of Indigenous children at Catholic-run schools.

Higher prices boost Coca-Cola's Q2 results

Higher prices for soda helped Coca-Cola score better-than-expected quarterly profits in spite of higher operating costs and the drag of the strong US dollar in international markets, the company announced Tuesday.

Eurozone stocks slide, gas prices soar

Eurozone equities sank Tuesday, as natural gas prices surged after Russia tightened the screw on supplies in fresh Ukraine fallout.

General Motors Q2 profits fall 40% on supply woes, confirms forecast

General Motors reported a big drop in second-quarter profits Tuesday due to the grinding semiconductor shortage, although the automaker confirmed its full-year forecast amid strong pricing.

Tunisia president hails vote set to bolster rule

President Kais Saied said Tunisia had "entered a new phase" on Tuesday with a new constitution almost certain to pass in a referendum, concentrating almost all powers in his office.

EasyJet hit by aviation disruption but slashes loss

British airline EasyJet on Tuesday said it took a sizeable financial hit from sector-wide disruptions, notably staff shortages, but still slashed quarterly losses as demand recovers.

Asia stocks rise as Alibaba boosts tech, eases pre-Fed nerves

Asian markets rose Tuesday as an Alibaba-fuelled surge in Hong Kong provided a much-needed boost to sentiment ahead of a slew of earnings reports from the world's biggest firms and an expected Federal Reserve interest rate hike.

Croatia opens bridge around Bosnia to get to Dubrovnik

Croatia opens Tuesday a long-awaited bridge linking its southern Adriatic coast including Dubrovnik with the rest of the country, bypassing a narrow strip of Bosnian territory.

'Overwhelming': Survivors reflect on pope's Indigenous abuse apology

Some seemed far away, others wept or applauded: a great wave of emotion swept through the crowd on Monday in western Canada's Maskwacis when the pope himself begged forgiveness for the "evil" done to Indigenous people.

Walmart cuts profit outlook as inflation bites shoppers

Walmart cut its profit outlook Monday as surging inflation prompts shoppers to cut back on higher-margin items as they contend with increased prices for gasoline, food and other staples.

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Arizona Tribune - Economy (English)