By Dan Burns July 24 (Reuters) – Activity in the vast U.S. services sector accelerated in July, aided in part by spending around the FIFA World Cup and the Independence Day holiday, while the pace of growth in the manufacturing sector eased to the slowest since March amid a slowdown in precautionary
By John O’Donnell and Valentina Za BERLIN, July 24 (Reuters) – Commerzbank Chairman Jens Weidmann on Friday invited UniCredit to open talks on the terms of a merger, as the German lender abandoned its remaining resistance to the unwanted Italian takeover and focused on securing concessions. Commerzb
July 24 (Reuters) – Wall Street’s main indexes opened subdued on Friday after a tech-led selloff in the previous session, as investors digested fresh earnings, escalating Middle East tensions and a new tariff announcement from the Trump administration. The Dow Jones Industrial Average rose 79.7 poin
NEW YORK, July 24 (Reuters) – Bank of America said on Friday it has increased its quarterly common stock dividend by 4 cents or 14%, to 32 cents a share, with its CEO Brian Moynihan citing the lender’s commitment to return excess capital to shareholders. Some banks announced increased dividends, as
TAIPEI, July 24 (Reuters) – Taiwan’s central bank on Friday emphasised its good relations with the U.S. Treasury Department, in response to the Treasury’s latest semi-annual currency report which included Taiwan on its “monitoring list” along with nine other economies. In its statement, the central
July 24 (Reuters) – U.S. equity funds recorded outflows for a second consecutive week as caution ahead of earnings reports from major technology companies and a renewed rise in oil prices weighed on investor sentiment. Investors sold a net $7.34 billion in U.S. equity funds during the week through J
BEIJING (AP) — China announced on Friday it was adding 14 European entities to an export control list in retaliation for the European Union penalizing 14 Chinese enterprises as part of its latest round of sanctions against Russia. Chinese companies will not be allowed to export dual-use items, which
BEIJING, July 24 (Reuters) – Chinese battery giant CATL reported stronger-than-expected second-quarter profit, driven by robust growth in its energy storage business that helped offset softer demand in the electric vehicle market. Net profit rose 36.5% year-on-year to 22.5 billion yuan ($3.32 billio
By Ragini Mathur July 24 (Reuters) – U.S. stock index futures edged higher on Friday after a tech-led selloff in the previous session, as investors weighed fresh earnings, escalating Middle East tensions and a new tariff announcement from the Trump administration. Intel added to the week’s key earni
BRUSSELS (AP) — The European Commission on Friday said it found TikTok had not adequately protected children’s privacy rights on its platform by allowing adults to view the accounts of minors. The action exposed children to cyberbullying, unwanted contact and predatory behavior, commission spokesper
July 24 (Reuters) – American Express increased its full-year revenue growth forecast and beat Wall Street expectations for second-quarter profit on Friday as its affluent customers continued to swipe their cards for travel and dining despite lingering economic uncertainty. Unlike many rivals that ca
By Anna Szymanski July 24 (Reuters) – From the Editor Hello Morning Bid readers! Cash burn and spiking crude prices dominated market headlines this week. The AI capex boom has helped many asset classes ignore the rising geopolitical turmoil of the past seven months, but – like the rest of the world
July 24 (Reuters) – Global equity funds attracted inflows for a ninth straight week through July 22 as investors remained optimistic about a robust earnings season despite an escalation in Middle East tensions and the recent weakness in semiconductor stocks. They bought a net $10.51 billion in globa
SEOUL, South Korea (AP) — A South Korean court on Friday ordered billionaire SK Group Chairman Chey Tae-won to pay his ex-wife 944 billion won ($640 million) in a case that the national media dubbed the “divorce of the century.” The Seoul High Court’s ruling came months after the Supreme Court order
By Lewis Krauskopf NEW YORK, July 24 (Reuters) – A wobbly U.S. stock market will take its cues in the coming week from a Federal Reserve meeting set to shed light on the path for interest rates, and from a packed slate of corporate earnings led by technology companies and heavyweights in artificial
By David Jeans and Echo Wang NEW YORK, July 24 (Reuters) – Defense tech firm Anduril is in discussions with investors for a new funding round that could see it valued at roughly $100 billion, rivaling companies such as Northrop Grumman and Lockheed Martin, two sources familiar with the matter told R
By Maggie Fick and Stine Jacobsen COPENHAGEN, July 24 (Reuters) – Novo Nordisk said on Friday it is seeking a preliminary U.S. court injunction to immediately block obesity and diabetes drug advertisements by Eli Lilly. Denmark’s Novo said on Tuesday it had sued Lilly, arguing consumers were being m
FRANKFURT, July 24 (Reuters) – Euro zone inflation expectations remained broadly unchanged over the past three months and price growth is seen falling quickly next year before returning back to the 2% target in 2028, a European Central Bank survey showed on Friday. Inflation, the ECB’s primary focus
By Alun John, Dhara Ranasinghe and Sophie Kiderlin LONDON, July 24 (Reuters) – Renewed hostilities in the Gulf have revived stagflation talk, dimming hopes the interim deal between the U.S. and Iran had come in time for the world economy to avoid elevated inflation alongside stagnant economic growth
By Mathieu Rosemain and Yantoultra Ngui PARIS, July 24 (Reuters) – Singaporean state investor Temasek is looking to increase its investments in defence as the war in Ukraine prompts European governments to boost military spending, a senior executive said. Defence will form part of Temasek’s broader
July 24 (Reuters) – The Trump administration on Friday imposed new tariffs of 10% and 12.5% on goods from 60 trading partners, including the European Union and China, over allegations of lax enforcement of forced labor bans, just as a temporary 10% global tariff expired. Below are some initial react
BRUSSELS, July 24 (Reuters) – The European Commission gave a guarded welcome to new tariffs imposed by the United States on Friday, saying that the outcome was in line with a trade deal the two sides struck a year ago. The United States on Friday imposed new tariffs of 10% and 12.5% on goods from 60
BANGKOK (AP) — Shares skidded Friday in Asia after Brent crude shot to its highest price since May as heavy fighting in the Middle East again threatened to slow the global flow of oil and gas. U.S. futures were little changed after tumbles for two of Wall Street’s most influential companies, Alphabe
PARIS, July 24 (Reuters) – Tariffs imposed on trading partners from the administration of U.S. President Donald Trump add more uncertainty to the world economy, said the Bank of France governor Emmanuel Moulin on Friday. The Trump administration on Friday imposed new tariffs of 10% and 12.5% on good
By Emily Green and David Lawder MEXICO CITY, July 23 (Reuters) – U.S. and Mexican officials will convene for a fourth round of negotiations to renew the North American trade pact in early September, Mexico’s economy ministry said on Thursday, following talks this week aimed at narrowing differences
By Rae Wee SINGAPORE, July 24 (Reuters) – The dollar rode U.S. Treasury yields higher on Friday and hovered near a 40-year peak against the yen, as a spike in oil prices and a renewed global trade war raised the stakes for inflation. Sterling languished around a three-week low and bought $1.3313 in
TOKYO, July 24 (Reuters) – Japanese companies are passing on rising costs from the Middle East conflict at a faster pace than in 2022, when the war in Ukraine pushed up fuel costs, the government said in an annual white paper released on Friday. Corporate and household inflation expectations are als
BRASILIA, July 23 (Reuters) – About 2,000 products exported by Brazil to the United States will be exempt from the new tariffs announced by the Donald Trump administration in recent days, including coffee and orange juice, Brazil’s Trade and Industry Minister Marcio Elias Rosa said on Thursday. • Br
July 24 (Reuters) – Australian stock exchange operator ASX Ltd said on Friday that CFO Andrew Tobin intends to retire. The announcement comes two months after the bourse operator appointed Euronext executive Anthony Attia as its top boss following the abrupt resignation of long-time CEO Helen Loftho
By Leika Kihara TOKYO, July 24 (Reuters) – Japan’s core consumer prices rose 1.6% in June from a year earlier, staying below the central bank’s 2% target for a fifth straight month as fuel subsidies offset rising raw material costs stemming from the Middle East conflict. The rise in the core consume
