World Business | Ransomware risks & IMF signals

AMD seals multibillion AI chip deal with OpenAI

United States chipmaker AMD will supply artificial intelligence chips to OpenAI in a multi-year agreement that could generate tens of billions of dollars in annual revenue and give the ChatGPT maker the option to acquire up to 10% of the company.

European stocks rise after Fed rate cut, say SIG tanks

European shares nudged up on Thursday after the U.S. Federal Reserve lowered borrowing costs for the first time since December, while shares of SIG plummeted after the Swiss-based company issued a profit warning.

Taiwan entrepreneur wants to make clothes out of bananas

Entrepreneur Nelson Yang is reaching back into Taiwan's history to turn the humble banana plant into an unlikely sustainable textile. Taiwan is now the world's dominant producer of advanced semiconductors but the yellow fruit, still widely grown on the island, was once a source of patriotic pride.

Afghanistan and Kazakhstan sign $2m fresh food import deal boosting bilateral trade

Afghanistan and Kazakhstan have signed a new trade agreement worth $2 million, further expanding economic ties between the two countries.

Beijing reviews foreign trade law for first time in nearly 20 years

China has launched its first review of its foreign trade law since 2004, signalling a potential shift in how the country manages international commerce amid rising global trade tensions.

Google services restored after blackout hit Türkiye, others

Access to Google services was restored Thursday after a region-wide outage cut off millions of users across dozens of countries, with disruptions reported in platforms including YouTube, Gmail and Maps.

Kraft Heinz to split into two firms after failed mega-merger

Kraft Heinz is breaking up into two separate companies a decade after its high-profile merger, aiming to unlock greater shareholder value.

Paramount to become exclusive U.S. home for UFC in $7.7 billion deal

Paramount will become the exclusive U.S. broadcaster of the Ultimate Fighting Championship from 2026 under a seven-year agreement with TKO Group Holdings worth about $7.7 billion, the companies said on Monday.

U.S.–Japan auto deal boosts investment and sparks market jump

Shares have surged in the automobile industry after the U.S. agreed a deal to lower tariffs this week with Japan, triggering a sharp rally in Japanese equity markets. It's after President Donald Trump and Japan's lead negotiator Ryosei Akazawa made the agreement on Tuesday (22 July).

Shein fined €40M in France for deceptive pricing

Fast fashion retailer Shein has been fined €40 million ($47.17 million) by France’s antitrust watchdog for allegedly having misleading discounts and unclear environmental claims, despite the company’s claim that the issues were fixed a year ago.

UK to cut green levies to lower energy costs for businesses

The UK government announced plans to cut green levies on thousands of businesses, aiming to reduce soaring energy costs and boost the manufacturing sector, particularly in Labour strongholds.

Azerbaijan, Uzbekistan to boost exports, expand joint investment activities

Baku hosted 14th meeting of the Joint Intergovernmental Commission on Cooperation between the Republic of Uzbekistan and the Republic of Azerbaijan. The delegations were headed by Uzbekistan’s Minister Laziz Kudratov and Azerbaijan’s Minister of Economy Mikayil Jabbarov.

Sweden cuts interest rate to 2.00% to support slowing economy

Sweden’s central bank lowered its key interest rate to 2.00% on Wednesday, citing mild inflation and weaker-than-expected economic growth.

Public companies rush to buy bitcoin as prices and political support rise

Dozens of public companies, including one founded by Donald Trump, are adding bitcoin to their balance sheets, betting big on crypto amid soaring prices and political backing from the U.S. President.

Carmakers consider China shift to avoid shutdowns amid magnet crunch

A tightening chokehold by China on rare-earth magnet exports is forcing global automakers to consider unprecedented steps - including shifting parts of production to Chinese factories - to avoid shutting down electric vehicle assembly lines within weeks.

Sanofi to acquire Blueprint Medicines for $9.1 billion in rare disease expansion

French pharmaceutical giant Sanofi announced Monday that it will acquire U.S.-based Blueprint Medicines for $9.1 billion to strengthen its portfolio in rare immunological diseases.

US banks eye crypto expansion as regulations ease

Top U.S. banks are quietly preparing to enter the crypto market through cautious pilot programs and partnerships, as regulators offer clearer signals. While enthusiasm grows, most lenders remain hesitant, seeking more clarity on rules before committing heavily.

Tesla’s Europe sales plunge 49% in April 2025

Tesla's sales in Europe plunged 49% in April, even as electric car demand surged, signaling growing trouble for the U.S. EV giant in a competitive and shifting market.

Australia's Bendigo and Adelaide Bank eases investor concerns with latest financial update

The bank's latest trading update has helped reassure analysts at Morgan Stanley, despite a disappointing first-half result in February.

Adidas and Puma may follow Nike in U.S. price hikes

Adidas and Puma are expected to raise prices in the U.S. after Nike increased footwear costs, as rising import tariffs push up expenses across the sportswear industry.

Shein says prices in France may rise due to EU fee

Shein says French consumers may face higher prices if the EU imposes handling fees and France enacts new penalties on fast fashion. The platform criticizes the lack of dialogue with authorities as pressure mounts on budget e-commerce models.