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Microsoft’s annual cloud revenue hits $75B, profit beats expectations

Microsoft said Wednesday that annual revenue for its flagship Azure cloud computing platform has surpassed $75 billion, up 34% from a year earlier. The Azure cloud business has been a centerpiece of Microsoft’s efforts to shift its focus to artificial intelligence, but until Wednesday ...
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Recall issued over energy drinks mistakenly containing vodka

MODESTO, Calif. (AP) — Energy drinks that mistakenly contain vodka are being recalled in half a dozen states. High Noon is recalling two production lots of High Noon Beach Variety packs because some packs include cans containing vodka that were mislabeled as Celsius Astro ...
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Ford raises projected tariff hit to results, shares down 4% after the bell

By Nora Eckert and Nathan Gomes DETROIT (Reuters) -Ford Motor said on Wednesday that U.S. tariffs on imported vehicles, as well as materials like steel and aluminum, will likely cost more than expected for the year, and the automaker’s shares slid about 4% in after-market ...
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Powell says Fed does not consider government interest rate costs in policy debate

By Michael S. Derby NEW YORK (Reuters) -U.S. Federal Reserve Chair Jerome Powell on Wednesday said there is no place for the central bank to consider government financing needs when setting interest rate policy. “We have a mandate” from Congress, and that is to keep inflation in ...
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Factbox-Some key Brazilian exports spared from Trump’s new 40% tariff

By Brendan O’Boyle (Reuters) -U.S. President Donald Trump signed an executive order on Wednesday imposing a 40% tariff on Brazilian exports, bringing the country’s total tariff amount to 50%. Some of Brazil’s major exports, however, were exempted from the tax. Notable exemptions include products already covered ...
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Microsoft and Meta fuel $500-billion gain in AI stocks

By Noel Randewich (Reuters) -Wall Street’s AI heavyweights added a combined half a trillion dollars in stock market value late on Wednesday after quarterly reports from Microsoft and Meta Platforms showed massive investments in the emerging technology were paying off. In extended trade, Microsoft jumped 8% ...
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Albemarle posts surprise second-quarter profit on lithium demand; shares surge

(Reuters) -Albemarle, the world’s largest producer of lithium for rechargeable batteries, posted a surprise second-quarter profit on Wednesday, helped by sustained demand for the metal sending its shares up over 7% after the bell. Lithium’s use in electric vehicles, large-scale battery storage and other electronic ...
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BOJ to be cautiously upbeat, keep rates steady as trade gloom lifts

By Leika Kihara TOKYO (Reuters) -The Bank of Japan is set to keep interest rates steady on Thursday and offer a cautiously optimistic view on the economic outlook, after Tokyo’s trade deal with Washington cleared some uncertainty surrounding its fragile recovery. Markets are focusing on any ...
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Allstate quarterly profit jumps on underwriting strength

(Reuters) -Allstate reported a jump in second-quarter profit on Wednesday, driven by strong underwriting performance and increased investment returns. Property and casualty insurers benefited during the quarter as individuals and businesses continued spending on insurance policies amid macroeconomic uncertainty and concerns over severe weather-related catastrophes. ...
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Oil shipments from Brazil to US to resume after tariff exemption, says lobby group

By Marta Nogueira RIO DE JANEIRO (Reuters) -Energy companies operating in Brazil are expected to resume oil shipments to the United States after several oil products were exempted from U.S. tariffs, the head of Brazilian oil lobby group IBP told Reuters on Wednesday. Oil is Brazil’s ...
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Microsoft’s Azure cloud revenue surges as AI spending pays off

(Reuters) -Microsoft’s Azure cloud-computing business delivered another quarter of blockbuster growth on Wednesday, powering revenue above Wall Street’s expectations and showcasing the growing returns on its massive artificial intelligence bets. Shares of the software company rose 7.2% in extended trading after it said Azure sales ...
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Meta stock surges after Q2 results blow past expectations despite heavy AI spending

In the midst of an artificial intelligence spending spree, Meta posted stronger-than-expected results for the second quarter, buoyed by growing ad revenue even as its expenses increased. Shares of Meta Platforms Inc. surged more than 9% after-hours as a result. The Menlo Park, California-based company ...
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