Yen fluctuates against dollar amid currency intervention
The yen returned to the 160 range against the dollar in Tokyo. An overnight rally to 158 was offset by commercial dollar demand.
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Business news, grouped by event. Each story links to its original reporting and update history.
The yen returned to the 160 range against the dollar in Tokyo. An overnight rally to 158 was offset by commercial dollar demand.
The Bank of Japan decided to hold its benchmark interest rate steady. The central bank lowered its inflation outlook for the current fiscal year.
UEFA member associations unanimously voted to boycott FIFA tournaments if the World Cup is sold to private investors. CONCACAF also rejected the proposal citing concerns over due process. FIFA aims to raise $4.2 billion by selling a stake in a new commercial subsidiary.
China's official manufacturing PMI fell to 49.2 in July, signaling contraction. Construction activity slumped to its lowest level since the start of the pandemic. Economic growth concerns intensify as confidence remains sluggish.
Apple achieved record revenue of $109.42 billion, a 16.4% increase. iPhone revenue rose 22% to $54.25 billion, and MacBook revenue grew 29% to $10.35 billion. The company set new records for earnings per share and operating cash flow for the June quarter.
AWS revenue grew 37% to $42.2 billion, the strongest growth in 18 quarters. Total company revenue increased 20% to $200.6 billion. Earnings per share exceeded market expectations, bolstered by gains from Anthropic investment.