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Russia slashes 2025 economic growth forecast to 1.5% from 2.5%

By Guy Faulconbridge and Darya Korsunskaya MOSCOW (Reuters) -Russia sees economic growth in 2025 slowing to 1.5%, far below the earlier 2.5% forecast, as high interest rates imposed to reduce inflation have stifled borrowing, Finance Minister Anton Siluanov told President Vladimir Putin on Wednesday. Russia’s ...
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Apple makes radio push amid tough music streaming competition, WSJ reports

(Reuters) -Apple will distribute its curated radio stations on a global network of home speakers and connected cars, in a push to extend the reach of its music service, the Wall Street Journal reported on Wednesday. The iPhone maker’s six radio stations will be available ...
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Fed’s Williams says needs to see how data play out to consider September cut – CNBC

WASHINGTON (Reuters) -New York Federal Reserve Bank President John Williams said on Wednesday it is likely interest rates can fall at some point but policymakers will need to see what upcoming data indicate about the economy to decide if it’s appropriate to make a ...
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Sompo holdings to acquire Aspen Insurance for $3.5 billion

TOKYO (Reuters) -Japan’s Sompo Holdings said on Wednesday that it will acquire New York-listed Aspen Insurance Holdings for around $3.5 billion, in the latest big ticket overseas acquisition by a Japanese financial firm. Sompo joins a number of Japanese financial institutions, including insurers, brokerages ...
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German banks halted 10 billion euros in PayPal payments on fraud concerns, SZ reports

BERLIN (Reuters) -German banks blocked PayPal payments worth more than 10 billion euros ($11.7 billion) due to concerns about fraud, the Sueddeutsche Zeitung newspaper reported on Wednesday. The payments were halted on Monday after lenders flagged millions of suspicious direct debits from PayPal that appeared ...
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Edmunds: Five big mistakes you need to avoid before buying your next new car

Buying a new car has never been more financially daunting. A 2025 analysis from Edmunds found that a record 19.3% of consumers who financed a new vehicle in the second quarter of 2025 committed to a monthly payment of $1,000 or more. That’s nearly ...
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Wall St futures flat as investors await Nvidia results

By Johann M Cherian and Sanchayaita Roy (Reuters) -U.S. stock index futures were flat on Wednesday as investors awaited AI leader Nvidia’s earnings, expected to test the momentum of Wall Street’s broader technology-led rally. The chip major was at the forefront of the market recovery ...
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Newmont planning to cut jobs in cost-cut drive, Bloomberg News reports

(Reuters) -Gold miner Newmont is planning to cut jobs in a sweeping cost-cutting drive, Bloomberg News reported on Wednesday citing people familiar with the matter. The miner did not specify the number of jobs it intends to cut, but it has set a target of ...
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Abercrombie & Fitch raises annual sales forecast

(Reuters) -Abercrombie & Fitch raised its annual sales forecast on Wednesday, betting on robust demand for its Hollister brand of dresses and jeans as shoppers prioritize spending on trendy apparel undeterred by price hikes. The company, whose denim jeans sell at an average $100, has ...
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China aims to triple AI chip output, reducing Nvidia’s dependency, FT says

(Reuters) -China’s chipmakers are seeking to triple the country’s output of artificial intelligence chips in 2026, rushing to reduce dependence on Nvidia, the Financial Times reported on Wednesday. Huawei aims to begin production at a plant dedicated to making AI chips by year end, ...
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Kohl’s lifts annual profit target as turnaround gains traction

(Reuters) -Kohl’s raised its annual profit forecast on Wednesday as the U.S. department store chain’s years-long turnaround reduces costs and its fresher product line-up brings back customers, sending its shares up 17% in premarket trading. The company closed an e-fulfillment center in Ohio earlier this ...
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Lockheed Martin seeks to have missiles produced by Rheinmetall, WiWo reports

FRANKFURT (Reuters) -U.S. defence contractor Lockheed Martin is seeking to have German peer Rheinmetall manufacture missiles including ATACMS and Hellfire types in Germany, business magazine WirtschaftsWoche cited a Lockheed executive as saying. “We are already actively discussing additional manufacturing – including for ATACMS and Hellfire ...
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