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Amazon’s revenue rose in the second quarter but fell short of Wall Street’s lofty expectations, even though the ecommerce giant increased its overall profits by 50 per cent compared with the same period last year. Net income for the three months from April to June came in at $7.8bn, or $15.12 per diluted share, comfortably

The Federal Reserve signalled it was moving closer to the moment when it will withdraw its support for the economic recovery by tapering its asset purchases, declaring that “progress” had been made towards meeting its goals. At the end of a two-day meeting on Wednesday, the Federal Open Market Committee kept its main interest rate

Apple, Microsoft and Alphabet said on Tuesday that their latest revenues and earnings had surged above the stock market’s already optimistic expectations, confirming that demand for their digital services and gadgets continued to soar as some countries began to emerge from the pandemic. Apple Apple’s profits almost doubled in its latest quarter to $21.7bn, as

The returns investors expect to earn after inflation on the world’s most important government bonds have reached a record low in a fall that has had sweeping implications across global markets. The real yield on 10-year US Treasuries fell further below zero on Monday as growing anxiety over the outlook for economic growth added fuel

The British government is exploring ways to remove China’s state-owned nuclear energy company from all future power projects in the UK, including the consortium planning to build the new £20bn Sizewell nuclear power station in Suffolk, according to people close to the discussions. The change in mood at the top of government also affects proposals

The lending businesses of large US banks are doubling down on wealthier customers, as well-to-do Americans borrow to buy second homes, invest in the stock market and potentially lighten their tax bills. The combined value of loans made by the wealth management arms of JPMorgan Chase, Bank of America, Citigroup and Morgan Stanley surpassed $600bn

US stocks ended Friday at a new high, reversing steep losses at the start of the week, as fears about the Delta variant of coronavirus were soothed by strong corporate earnings and continued central bank support for financial markets. The S&P 500 climbed 1 per cent, lifting the index’s weekly gain to 2 per cent

The European Central Bank will keep buying bonds and maintain its deeply negative interest rates in an attempt to shift the eurozone economy out of its persistent pattern of sluggish inflation, its policymakers decided on Thursday. The ECB also said it was prepared to tolerate a moderate and transitory overshoot of its inflation target as

The US and Germany have reached a deal to resolve their longstanding dispute over the Nord Stream 2 pipeline, including a promise from Berlin to impose sanctions on Russia if Moscow threatens its neighbours’ energy security.  The announcement comes in the wake of a bilateral meeting last week at the White House between Joe Biden

Netflix lost 430,000 subscribers in the US and Canada in the second quarter and issued disappointing forecasts for later in the year, rekindling investor doubts over how the streaming group will fare after the economic reopening. The California-based company predicted it would add 3.5m subscribers in the third quarter, disappointing investors who were looking for

European equities were heading for their worst session of the year as the growing threat of the Delta coronavirus variant triggered falls in global share markets and commodities, while investors sought havens in government bonds and gold. Europe’s region-wide Stoxx Europe 600 lost 2.7 per cent, the biggest drop since October, while London’s FTSE 100

US business groups say a Biden administration warning about the risks of operating in Hong Kong has made life more difficult for them as they navigate a sweeping security crackdown by China. Citing the introduction of a tough national security law in the Chinese territory last year, the US “business advisory” on Friday warned of

Costs at the top US banks jumped more than $6.6bn, or 10 per cent, in the most recent quarter compared with the same period of last year as executives paid up for talent and technology to fortify their businesses against increasing competition from nearly every angle.  The increase in spending at JPMorgan Chase, Goldman Sachs,

The US is experiencing a “pandemic of the unvaccinated”, the head of the country’s top public health agency warned, as new coronavirus cases have jumped 70 per cent in the past week. More than 33,000 infections were reported across the US on Thursday, Rochelle Walensky, director of the Centers for Disease Control and Prevention, said

Morgan Stanley became the latest Wall Street bank to report that higher fees from investment banking had helped to up pick some of the slack from a slowdown in trading as it posted an increase in revenues and profits for the second quarter. The results, which were ahead of analysts’ forecasts, underscored how Wall Street’s

Jay Powell, the chair of the Federal Reserve, said the US central bank was ready to intervene if inflation spiralled out of control, but stressed that he expected price increases to ease later in the year. “Inflation has increased notably and will likely remain elevated in coming months before moderating,” Powell said in prepared remarks

The breakneck pace of US consumer price increases seen since the start of the year accelerated in June, challenging the Federal Reserve’s case that the burst of inflationary pressures accompanying the economic reopening will prove temporary. The consumer price index rose 5.4 per cent in June from a year ago — above the nearly 13-year

European Central Bank unity on its new inflation target could dissolve into division as early as next week when policymakers meet to discuss changing its guidance on raising interest rates, its president Christine Lagarde has warned. The bank’s rate-setters are due to meet next Thursday for their first discussion since they last week launched a unanimously

Brussels will set out plans this week to increase taxes on polluting fuels and introduce an EU-wide levy on aviation kerosene for the first time, under measures intended to put it at the forefront of global efforts to reduce carbon emissions.  The European Commission will propose a revamp of its 15-year-old rule book on carbon

The world’s largest economies have thrown their weight behind a global tax reform deal that would impose a minimum levy on multinational corporations, ramping up pressure on a small number of holdout countries to sign up to the agreement. G20 economy ministers and central bankers meeting in Venice on Saturday issued a joint communique endorsing