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(MENAFN - AFP) Rio de Janeiro drug dealers are joining the Olympic party by stamping the iconic logo of the Games on their wares.

Rio police said Tuesday they had confiscated 93 packets of cocaine and 28 of crack during a raid in the popular nightlife district of Lapa.

Pictures of the clear plastic packets showed labels emblazoned with the official logo of the Rio 2016 ...

 
(MENAFN - AFP) The head of the World Trade Organization said on Wednesday he would not get involved in a slanging match with Donald Trump after the US presidential candidate suggested withdrawing from the WTO.

Trump, having earlier threatened to renegotiate or rip up the North American Free Trade Agreement, told NBC on Sunday that if he takes the White House he might "renegotiate ...

 
(MENAFN - AFP) The Federal Reserve was not expected to change key interest rates on Wednesday at the conclusion of a closely watched two-day meeting on monetary policy.

But global markets will be watching for signals that the central bank sees a strengthening economy and for the possibility that rate increases could come later in 2016.

The Federal Open Market Committee, ...

 
(MENAFN - AFP) The European Commission on Wednesday backed away from slapping fines on Spain and Portugal for running high deficits, avoiding what would have been a landmark move to impose tough budget rules.

Under bloc regulations, the EU executive could have imposed fines of up to 0.2 percent of national gross domestic product (GDP) against Madrid and Lisbon -- but instead ...

 
(MENAFN - AFP) Deutsche Bank acknowledged on Wednesday that it may be forced to push its restructuring faster, as it booked a 98-percent fall in profits in the second quarter.

Deutsche's performance fell well short of the average of 188 million euros ($207 million) expected by analysts surveyed by Factset.

"If the current weak economic environment persists, we will ...

 
(MENAFN - AFP) Global shares mostly rallied Wednesday after Tokyo launched a massive stimulus package with sentiment also cheered by accelerating economic growth in Britain and upbeat company results.

Awaiting the US Federal Reserve's interest rate decision later, Wall Street won an opening boost from Apple, whose third-quarter earnings topped expectations.

London stocks ...

 
(MENAFN - AFP) The sluggish global economy, more and healthier competition, and currency market turbulence again dragged on Coca-Cola Co.'s earnings in the second quarter, the company said Wednesday.

Net earnings rose 10.9 percent and core earnings per share beat expectations by two cents at 60 cents.

But net revenues slid in every region but North America, for a 5.1 ...

 
(MENAFN - AFP) Boeing reported a second-quarter loss Wednesday due to elevated costs for an Air Force contract and for commercial air production as it confirmed its full-year plane deliveries targets.

The US aerospace giant lost $234 million for the quarter ending June 30 following $2.1 billion in unexpected charges announced last week.

The smaller-than-expected loss ...

 
(MENAFN - AFP) European and Japanese shares rallied Wednesday after Tokyo launched a massive stimulus package, with sentiment buoyed also by accelerating British economic growth and upbeat company results.

Traders were meanwhile awaiting the US Federal Reserve's latest interest rate decision and accompanying statement.

London stocks rose 0.5 percent as data showed the ...

 
(MENAFN - AFP) Britain will enter EU exit talks in a strong position, finance minister Philip Hammond declared Wednesday, after data revealed economic growth unexpectedly accelerated in the run-up to the Brexit referendum.

Gross domestic product (GDP) grew 0.6 percent in the second quarter, the Office for National Statistics (ONS) said in a first estimate for April-June, ...

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