The economy, inflation and how those forces could impact the lives of Americans were front and center over the past week. Trips to the grocery store and gas station are more painful than they were last year, and rising costs are impacting the decisions of both households and businesses. Hereâs a sna
NEW YORK (AP) â President Donald Trump knows the world hangs on his every word. Now he wants you to pay for it. The social media posts of the worldâs most powerful man are going on sale Saturday when his Truth Social business begins offering sneak peeks of them to Wall Street traders willing to pay
By Che Pan and Ryan Woo BEIJING, Aug 1 (Reuters) â Chinese electric vehicle maker BYDâs global sales rose for a third straight month in July, with robust overseas demand continuing to help offset softer conditions in its home market. Total sales rose 21.8% from a year earlier to 419,211 vehicles las
NEW YORK (AP) â Corporate earnings from big U.S. companies and closely-watched jobs reports are among the key updates for Wall Street this week. The latest batch of profit updates and forecasts could help give investors a clearer picture of how and where households are spending money amid stubbornly
July 31 (Reuters) â A selloff in U.S. Treasuries this week signaled the need for the Federal Reserve to earn its inflation-fighting âcredibilityâ with interest rate increases, St. Louis Fed President Alberto Musalem told the Financial Times. âAt this juncture, earlier, incremental, gradual interest-
By Fabiola ArĂĄmburo and David Lawder Aug 1 (Reuters) â The U.S. Treasury bought yen on Friday to support the battered Japanese currency, the Financial Times reported, marking Washingtonâs first yen-buying intervention with Tokyo in more than a decade as it languishes near 40-year lows. The Federal R
By Svea Herbst-Bayliss, Manya Saini and Anirban Sen July 31 (Reuters) â When rival hedge funds face catastrophic losses, billionaire investor Ken Griffin has a habit of identifying opportunities and showing up with a checkbook. Citadelâs founder this week reprised his role as one of Wall Streetâs re
July 31 (Reuters) â FIFA President Gianni Infantino said on Friday world soccerâs governing body has scrapped plans to sell a stake in the World Cup to private investors after widespread backlash. âHaving listened carefully to all the views, it has become clear that the project has created divisions
By Daniel Heuer and David Lawder CAMP DAVID, Maryland, July 31 (Reuters) â U.S. Treasury Secretary Scott Bessent on Friday exposed a âto-doâ list during President Donald Trumpâs cabinet meeting indicating he was contemplating U.S. purchases of $5 billion to $10 billion worth of Japanese yen, a Reute
July 31 (Reuters) â Warner Music Group, the label behind artists such as Ed Sheeran and Dua Lipa, said finance head and Chief Operating Officer Armin Zerza has decided to step down for personal reasons, effective immediately. Here are some more details: ⢠Chief Accounting Officer Lou Dickler named a
Federal Communications Commission Chairman Brendan Carr on Friday defended his agencyâs recent actions against ABC, saying broadcasters have a duty to âoperate in the public interestâ and the FCC is merely trying to restore that standard. Broadcasters like ABC, Carr said in an interview on the Fox B
WASHINGTON, July 31 (Reuters) â U.S. Federal Reserve Chairman Kevin Warsh at this weekâs interest-rate-setting meeting raised the idea of reducing the number of the Fedâs regularly scheduled meetings where it sets monetary policy, the New York Times reported on Friday. The move, if adopted, would br
The Trump administration wants to make sure that the Mexican train crews who haul freight over the border can understand key safety safety information in English and that the common practice of using foreign crews to cross into America doesnât threaten U.S. jobs. Two major rail unions praised the pr
By Karen Freifeld WASHINGTON, July 31 (Reuters) â The United States on Friday banned imports from 43 more companies over alleged human rights abuses of Uyghur and other minority groups, including Hunan Aihua Group, one of Chinaâs largest capacitor manufacturers, according to a government posting. Th
WASHINGTON, July 31 (Reuters) â The top U.S. derivatives regulator said on Friday it had ordered former Republican Representative George Santos to pay $35,000 for alleged manipulative trading. Santos, who was expelled from the House of Representatives in 2023, traded event contracts earlier this yea
BELGRADE, July 31 (Reuters) â hold Serbia secured another sanctions waiver from the United States for its Russian-owned oil company NIS, energy minister Dubravka Djedovic Handanovic said on Friday, allowing the firm that supplies most of the countryâs fuel demand to continue importing crude oil unti
GENEVA (AP) â Gianni Infantino truly looked the âKing of Soccer,â as U.S. President Donald Trump likes to call him, as the two allies sat together watching the World Cup final less than two weeks ago. Sure, there were some boos inside MetLife Stadium near New York, when the two men walked across the
July 31 (Reuters) â Private equity firm KKR is nearing a takeover of medical device outsourcing company Integer Holdings, the Wall Street Journal reported on Friday, citing people familiar with the matter. Shares of the Plano, Texas-based firm closed more than 20% higher. The offer of $127 per share
By Jonathan Stempel July 31 (Reuters) â Amazon.com was sued on Friday by consumers who accused the retailer of misrepresenting the environmental benefits of seafood sold on its platform, a practice known as greenwashing. In a proposed class action in Seattle federal court, consumers said labels cont
July 31 (Reuters) â Canadaâs WestJet said on Friday it has begun parking Boeing 737 planes as negotiations with flight attendants have not resulted in an agreement, which could lead to labor disruptions. Cabin crew at the Calgary-based carrier, owned by Onex Corp, could strike as early as August 2 a
SACRAMENTO, Calif. (AP) â California Gov. Gavin Newsom and his wife made between $1.7 million and $2 million annually from 2022 through 2024, and they paid about half a million a year in federal and state taxes, according to tax returns released by his office. The Democratâs office released more tha
July 31 (Reuters) â Saipem said on Friday that all applicable waiting periods under the U.S. Hart-Scott-Rodino antitrust law had expired for its planned merger with its Norwegian peer Subsea7. The companies are now allowed to complete the transaction in the United States, although the merger remains
By Sumit Saha and Laila Kearney July 31 (Reuters) â Dominion Energy, the U.S. electric utility covering the worldâs biggest data center territory, reported better-than-expected second-quarter profit and revenue on Friday as demand from server warehouses grew beyond 50 gigawatts and offset rising ope
By Pete Schroeder WASHINGTON, July 31 (Reuters) â A pair of U.S. bank regulators proposed an update on Friday to some fair lending rules, which would place additional scrutiny on how banks dole out grants while exempting smaller firms from some requirements. The proposal from the Federal Deposit Ins
By Arasu Kannagi Basil July 31 (Reuters) â Westinghouse Electric Company, one of the most storied names in the American power industry, has confidentially filed for a U.S. initial public offering, it said on Friday, joining a wave of nuclear companies looking to tap capital markets. Investor enthusi
The families of four teenagers who died by suicide are suing Meta, TikTok, Snapchat and YouTube over what they describe as âyears of escalating harmsâ from using their platforms that eventually resulted in their deaths. The lawsuit, filed Thursday in the Superior Court of Delaware, is the latest in
By David Lawder July 30 (Reuters) â The U.S. Treasury on Thursday said the director of its anti-money laundering Financial Crimes Enforcement Network, Andrea Gacki, was stepping down to join Citigroup as the bankâs global head of sanctions. Gacki is leaving government service after 25 years at the T
By Anirban Sen and Manya Saini NEW YORK, July 31 (Reuters) â The portfolio value of Leopold Aschenbrennerâs hedge fund, Situational Awareness, fell 67% in July after suffering steep losses on AI stocks, according to a letter sent to investors on Thursday that was seen by Reuters. The AI-focused hedg
By Utkarsh Shetti July 31 (Reuters) â Cboe Global Markets reported a jump in second-quarter profit on Friday, surpassing Wall Street expectations, as it benefited from robust options trading volumes at a time of heightened market volatility. Periods of market turbulence typically boost trading activ
New York officials sued prediction market platform Kalshi for potentially billions of dollars on Friday, calling it an âillegal, unlicensed gambling operationâ that includes sports wagering as the state seeks to halt its operations and force the company to forfeit its profits. New York joins a growi
