Business

Amazon, Microsoft Results Show AI Spending Spree Remains Solid

Aggressive AI spending plans by Amazon.com Inc., Microsoft Corp. and Alphabet Inc. provided fresh evidence that demand for chips and related equipment will remain strong, offering relief to a sector that’s been battered in recent days.

Yen weakens after intervention-led surge ahead of BOJ policy decision

34 institutions face sanctions over forex rule violations

The Central Bank of Nigeria (CBN) is set to sanction 34 institutions for foreign exchange rule violations, as revealed in its 2025 Annual Report. Read More: https://punchng.com/34-institutions-face-sanctions-over-forex-rule-violations/

Tim Cook sees Apple's hybrid AI strategy as a 'competitive weapon'

Ahead of the launch of Siri AI, Apple's outgoing CEO Tim Cook said the company will charge for artificial intelligence through iCloud.

Yen strengthens on possible intervention

Officials have been warning that efforts might be made to prop up the currency if it weakened too much or too fast.

FG reviews tariffs on 192 import product categories

The Federal Government has revised import tariffs on 192 product categories, aligning trade policy with regional agreements and protecting local industries Read More: https://punchng.com/fg-reviews-tariffs-on-192-import-product-categories/

Australia Pension Cuts Local Stocks for Global, Emerging Markets

Australian pension fund Cbus Super is cutting its exposure to domestic stocks in favor of global and emerging markets, becoming the latest institutional investor to curb its reliance on an increasingly concentrated local bourse.

Japan June factory output rises 1.3% month-on-month

Gold Holds Gain as Japan Currency Intervention Weighs on Dollar

Gold held a two-day gain, supported by a sharp decline in the US dollar after Japan intervened to bolster the yen.

Brad Olsen steps down as Infometrics chief to focus on economics

One of NZ’s best-known economists is stepping back from leading Infometrics, saying he wants to spend more time explaining the economy to businesses, decision-makers and the public.

SK Hynix Shares Surge in Seoul on US Peer Rally, Chey Purchase

SK Hynix Inc. shares rebounded Friday, recovering part of this week’s steep losses, as a rally in US semiconductor stocks and a rare share purchase by SK Group Chairman Chey Tae-won helped restore investor confidence.

BHP Faces Rolling Strikes at Key Australian Iron Ore Export Port

Unions representing workers at BHP Group’s Port Hedland operations in Western Australia are threatening rolling 24-hour strikes next week, escalating a labor dispute at the world’s largest iron ore export hub.