NEW YORK (AP) — The president’s media company has tried its hand at a half-dozen new lines of business to lift its stock, but nothing has worked. Now it’s getting back to its roots. In a conference call with investors Monday, the company behind Truth Social said it will be unwinding much of its expa
WASHINGTON (AP) — President Donald Trump likes to say that he started his war with Iran after 50 years of economic pressure had failed to stop its nuclear weapons ambitions — but he’s now betting that another financial squeeze can bring an end to that war. The Trump administration is hoping that mon
By Stella Qiu and Wayne Cole SYDNEY, Aug 11 (Reuters) – Australia’s central bank held its cash rate steady at 4.35% for a second straight meeting on Tuesday, saying the economy was slowing as expected, but warned it might hike again if needed to control inflation. Reserve Bank of Australia Governor
A look at the day ahead in European and global markets from Rae Wee Oil prices were back on the rise on Tuesday and touched their highest this month, as Washington and Tehran continued to trade demands for the reopening of the Strait of Hormuz. U.S. President Donald Trump responded to Iran’s conditi
Aug 11 (Reuters) – South Korean battery maker Samsung SDI said on Tuesday it will end its joint venture agreement with General Motors in Indiana and acquire the U.S. firm’s 49.99% stake, citing weaker-than-expected electric vehicle demand. Here are some details: • Samsung SDI said in a regulatory fi
By Rae Wee SINGAPORE, Aug 11 (Reuters) – Oil prices rose on Tuesday as negotiations between the United States and Iran over a peace deal and the reopening of the Strait of Hormuz hit an impasse, while Asian shares drifted on protracted uncertainty over the global inflation outlook. U.S. President Do
By Ankur Banerjee SINGAPORE, Aug 11 (Reuters) – The yen wobbled near the crucial 160 level on Tuesday, as joint U.S.-Japan intervention failed to deliver a lasting boost, while the Australian dollar held its ground near eight-week highs after the central bank held rates as expected. The Reserve Bank
Aug 11 (Reuters) – Australian shipbuilder Austal said on Tuesday that Hanwha Group had offered to buy its U.S. operations for up to $1.20 billion as the South Korean conglomerate seeks to expand in the American defence market. Austal shares rose more than 16%, logging their best intraday jump since
By Andrea Shalal PHILADELPHIA, Aug 10 (Reuters) – U.S. officials on Monday said they are working closely with foreign investors to identify gaps in the U.S. manufacturing supply chain and to help small- and medium-sized businesses scale up to meet rising demand as foreign investments surge. Assistan
By Ishaan Arora Aug 11 (Reuters) – Oil prices steadied on Tuesday at more than one-week highs amid fading hopes of a deal between the U.S. and Iran to end their war and reopen the Strait of Hormuz, after President Donald Trump demanded compensation for damage the U.S. has incurred. Brent crude futur
By Yantoultra Ngui and Rae Wee SINGAPORE, Aug 11 (Reuters) – JPMorgan Chase will continue hiring in Asia Pacific at a similar pace in 2027, after revenue at its corporate bank in the region grew by well above 20% this year, its regional heads told Reuters. The U.S. bank is close to completing a roug
SAO PAULO, Aug 10 (Reuters) – Brazilian cosmetic maker Natura on Monday posted a second-quarter net profit of 35 million reais ($6.85 million), a 92.1% decline from the same period of 2025 on a recurring basis. • Natura attributed the results mostly to higher net financial expenses, mentioning curre
By Alberto Alerigi SAO PAULO, Aug 10 (Reuters) – Sao Paulo civil police have formally accused two Goldman Sachs representatives of fraud in a dispute over a public share tender offer demanded by minority shareholders of cancer treatment group Oncoclinicas, according to a police document seen by Reut
Aug 10 (Reuters) – The Royal Bank of Canada and BMO Financial Group on Monday agreed to sell jointly owned Moneris Solutions to technology investment firm Francisco Partners in a deal valued at C$2 billion ($1.44 billion). Here are some details: • Moneris, founded 25 years ago, is one of Canada’s la
Canada put its military on standby Monday to help battle deadly wildfires in British Columbia as a local mayor warned that one of the blazes had wreaked huge destruction on his community. A woman has died and some 20,000 people have fled their homes so far. For days, scores of wildfires have burned
Aug 10 (Reuters) – The U.S. Securities and Exchange Commission charged Netcapital with securities fraud on Monday over the fintech company’s alleged scheme to overstate revenue. The SEC said in a civil complaint filed in Boston federal court that Netcapital improperly recorded nearly $14 million in
By Abigail Summerville NEW YORK, Aug 10 (Reuters) – Packaged food company Flowers Foods is seeking to divest its baked goods business Tastykake, according to people familiar with the matter. The company, which also owns Simple Mills and Wonder Bread, is working with investment bank RBC on the proces
By Jamie McGeever ORLANDO, Florida, Aug 10 (Reuters) – Wall Street wobbled and oil prices leaped 5% on Monday, as hopes of a U.S.-Iran peace deal and reopening of the Strait of Hormuz faded, while investors looked ahead to U.S. inflation data later in the week and remained on alert for more interven
By Roberto Samora and Andre Romani SAO PAULO, Aug 10 (Reuters) – Brazil’s JBS, the world’s largest meatpacker, said on Monday it had named Wesley Batista Filho as chief executive effective January 2027, marking its first CEO change in eight years and returning a member of the founding Batista family
Meta Platforms on Monday announced the release of a new artificial intelligence model that’s open for other software developers to use as CEO Mark Zuckerberg warned of the risks if control of advanced AI is concentrated under a select few companies, institutions or governments. The tech company incl
By Sheila Dang HOUSTON, Aug 10 (Reuters) – Andy O’Brien will succeed longtime ConocoPhillips CEO Ryan Lance next month and will inherit a major Alaska oil project to complete, costs to control and a share price that has recently lagged peers, analysts and investors said. The largest independent oil
By Jonathan Stempel Aug 10 (Reuters) – Berkshire Hathaway shares rose on Monday to their highest level since Warren Buffett announced his departure as chief executive in May 2025, after his successor Greg Abel began spending the conglomerate’s huge cash pile and financial results topped analysts’ ex
Aug 10 (Reuters) – Britain’s Imperial Brands is preparing to cut thousands of jobs in key markets, including the United States and Europe, to reduce costs, Bloomberg News reported on Monday citing people familiar with the matter. Shares of the tobacco firm fell 5.3% to 2,643 pence by 1424 GMT. • The
WOBURN, Mass. (AP) — At a Massachusetts lab, pebble-sized pellets are transformed into forks and films that won’t leave persistent microplastics in the environment. These are bioplastic pellets. CJ Biomaterials ferments sugar to make plant-based polymers that microbes will consume. These alternative
Taylor Fresh Foods, parent company of Taylor Farms, is voluntarily recalling some products that include jalapenos because of worries about a possible salmonella contamination. The announcement comes a few weeks after Taylor Farms voluntarily recalled its iceberg lettuce products sourced from central
(Corrects syntax error in headline) Aug 10 (Reuters) – Wall Street’s main indexes opened little changed on Monday, as investors weighed developments in the Middle East that could influence the reopening of the Strait of Hormuz and braced for a week laden with crucial inflation data and earnings. The
Aug 10 (Reuters) – Archer Aviation said on Monday it would acquire Boeing’s electric aircraft firm Wisk Aero and two other units, in a deal that will give the planemaker a nearly 20% stake in the air taxi maker. The acquisitions, which also include drone maker Insitu and airspace-services provider S
Aug 10 (Reuters) – Drugmaker Bristol Myers Squibb on Monday said it will spend about $2.3 billion to build a new manufacturing facility in Houston, Texas, part of a previously announced $40 billion commitment to invest in the United States. The New Jersey-based company said the new site will create
By Svea Herbst-Bayliss and David French NEW YORK, Aug 10 (Reuters) – Blackstone Infrastructure’s Safe Harbor Marinas, the world’s largest owner and operator of marinas, is nearing a $1.5 billion deal to acquire MarineMax, people familiar with the matter said. The agreement will cap a months-long bat
Aug 10 (Reuters) – Mining investor TechMet said on Monday it would form a U.S. subsidiary as part of a push to attract more capital from public and private partners for critical minerals projects. Dublin-based TechMet, which counts the U.S. government as a major shareholder, said the new subsidiary
