Aug 4 (Reuters) – It would be reasonable for the Federal Reserve to increase the size of a stopgap liquidity facility that Japanese authorities are eyeing for use in their effort to prop up the yen given the bond market has grown since the facility was launched, Treasury Secretary Scott Bessent said
By Michael S. Derby Aug 4 (Reuters) – Federal Reserve Bank of Philadelphia President Anna Paulson said Tuesday she was keeping an “open mind” about what lies ahead for monetary policy in an outlook that could call for higher rates. “The recent improvement in some inflation data is welcome” and “it i
Aug 4 (Reuters) – Broadridge Financial reported higher fourth-quarter profit on Tuesday, helped by strength in its investor communications business. Shares of the company have fallen about 29.5% so far this year, but rose 1.7% in premarket trading following the results. Here are some details: • Broa
By Nandan Mandayam Aug 4 (Reuters) – Caterpillar raised its annual revenue growth forecast after beating second-quarter profit estimates on Tuesday, benefiting from a buildout of AI data centers that has spurred demand for its power-generation and construction equipment. Shares of the company jumped
BEIJING, Aug 4 (Reuters) – Tesla’s China-made electric vehicle sales rose 37.8% in July from a year earlier, marking the ninth straight month of growth as the U.S. automaker reports a mixed performance across its markets. Sales of Model 3 and Model Y vehicles from its Shanghai plant, including expor
Many aspects of retirement planning are the subject of hot debate, even among experts. Here are three tricky decisions that confront people planning retirement today. It’s impossible to say at the outset of retirement what the “right” withdrawal rate is. You don’t know what the major asset classes w
By Isla Binnie and Arasu Kannagi Basil NEW YORK, Aug 4 (Reuters) – Apollo Global Management posted a rise in earnings from fees and its insurance business in the second quarter, but cashed in less on its own investments in a tougher environment for asset sales, the company said on Tuesday. The New Y
LONDON, Aug 4 (Reuters) – Global hedge funds gave up almost 3% of their gains during July due to the unwinding of technology-related trades but are still up around 8% for the year across all strategies, JPMorgan said in a note seen by Reuters. As the Iran war continued, a spike in crude oil prices u
August 4 (Reuters) – What matters in U.S. and global markets today By Mike Dolan, Editor-at-Large, Finance and Markets World markets turned quieter on Tuesday after yesterday’s equity rally and oil price decline, with Asian stock markets steady and Wall Street futures pointing up slightly. Well over
Aug 4 (Reuters) – Pfizer on Tuesday reported better-than-expected second-quarter results, boosted by strong demand for blood thinner Eliquis, and unveiled plans for an additional $2.5 billion in savings through its ongoing cost-cutting efforts. Pfizer said the additional savings, expected to be real
WASHINGTON, August 4 (Reuters) – A top supervision examiner at the U.S. Consumer Financial Protection Bureau warned staff they would face “most unpleasant” consequences if they were too aggressive in their oversight of financial firms, according to an internal email reviewed by Reuters. The threat,
Aug 4 (Reuters) – Nasdaq futures rose on Tuesday after strong forecasts from Palantir and ON Semiconductor reassured investors about AI-driven demand, while Middle East developments and U.S. earnings were also in focus to gauge the health of corporate America. Palantir Technologies gained 17.2% in p
By Yuka Obayashi TOKYO, Aug 4 (Reuters) – Japan’s top steelmaker Nippon Steel on Tuesday raised its full-year net profit forecast by 32% to 290 billion yen ($1.84 billion), citing stronger earnings at U.S. Steel amid a firmer U.S. steel market. • Nippon Steel posted a 75.30 billion yen net profit fo
By Emanuele Berro and Simon Ferdinand Eibach Aug 4 (Reuters) – German car parts supplier Continental beat second-quarter profit expectations on Tuesday, as premium tyre sales and lower raw-material costs more than offset falling volumes and weak global vehicle production. However, it kept the annual
MILAN, Aug 4 (Reuters) – Bending Spoons has agreed to buy Airtable in an all-cash deal valuing the U.S. software firm at $1.285 billion, the companies said on Tuesday, marking the Italian technology company’s first acquisition since its Nasdaq debut last month. Founded in 2013, Airtable offers a sof
Aug 4 (Reuters) – Goldman Sachs said on Tuesday it expects Brent crude to trade in an $80-$90 per barrel range until there is either confirmation of a new U.S.-Iran nuclear deal or a significant escalation of their conflict. The bank estimates spot Brent’s fair value at about $80 a barrel, suggestin
By Casey Hall and Dominique Patton SHANGHAI/PARIS, Aug 4 (Reuters) – For Chinese consumers seeking luxury, prestige skincare is trumping designer bags as a prolonged property downturn and weaker confidence make price tags ever more decisive, even for premium goods. Analysts say recent earnings show
By Selena Li and Lawrence White HONG KONG/LONDON, Aug 4 (Reuters) – HSBC Holdings reported a better-than-expected first-half profit and raised its net interest income target, driven by revenue growth in lending and wealth management fee earnings on robust money flows. Europe’s largest bank posted a
By Leika Kihara TOKYO, Aug 4 (Reuters) – Japan and the United States will “certainly” conduct joint intervention again if the yen shows signs of resuming its downtrend, said Atsushi Takeuchi, a former central bank official involved in Tokyo’s market forays more than a decade ago. The yen held gains
By Melanie Burton MELBOURNE, Aug 4 (Reuters) – A two-day strike will go ahead at BHP’s Port Hedland operations in Western Australia this weekend despite progress in talks on Tuesday between unions and the global miner, a union spokesperson said. BHP ships some $80 million of iron ore daily through P
By Daniel Leussink TOKYO, Aug 4 (Reuters) – Toyota, the world’s biggest automaker, on Tuesday raised its annual operating profit forecast by 13% to reflect a much softer yen and announced a share buyback of up to 1 trillion yen ($6.3 billion). But some fundamentals remained weak with Toyota reportin
NEW YORK (AP) — Investors in Elon Musk’s space company get a chance to question him Tuesday after SpaceX issues its first quarterly earnings since going public. SpaceX shares are down by half from their June peak as investors worry Musk may have oversold them on its future prospects. They’re also br
TOKYO (AP) — Asian shares were mixed on Tuesday following a rally on Wall Street that was helped by easing oil prices. Regional investors were still weighing the impact from last week’s joint U.S.-Japan currency intervention, analysts said. Japan’s benchmark Nikkei 225 gained 0.3% to finish at 63,95
By Simon Jessop and Naomi Rovnick LONDON, Aug 4 (Reuters) – The global sustainable fund industry has seen just a handful of new launches this year as weak performance, investor withdrawals and heightened regulatory scrutiny prompt asset managers to close products and rethink how they market sustaina
By Melanie Burton MELBOURNE, Aug 4 (Reuters) – A freeze on Rio Tinto approaching Glencore for a takeover expires this week, but people who have been briefed by top executives don’t expect any fresh tie-up talks for now as CEO Simon Trott focuses on cost cuts and asset sales. Trott launched a simplif
A look at the day ahead in European and global markets from Gregor Stuart Hunter If U.S. Treasury Secretary Scott Bessent was hoping for a reprieve from his to-do list, this might be as good as it gets. The Japanese currency weakened for the first time in five sessions on Tuesday, as the dust settle
By Leika Kihara TOKYO, Aug 4 (Reuters) – Japan has seen only moderate rises in consumer prices so far with the pass-through of higher costs from the Middle East conflict remaining limited, Economy Minister Minoru Kiuchi said on Tuesday, offering a sanguine view on inflationary risks. The assessment
Aug 3 (Reuters) – Apple said on Monday it briefly removed the Telegram messaging app from its App Store after a review found content that violated its guidelines “prohibiting child sexual abuse material.” The company said it restored the app after “the developer promptly removed the content and bann
By Rae Wee and Ankur Banerjee SINGAPORE, Aug 3 (Reuters) – A rare joint U.S.-Japan intervention has raised the stakes on traders betting against the yen, but analysts are doubtful speculators will be kept at bay without tighter monetary policy. The ultimate test will be whether the Bank of Japan (BO
Aug 4 (Reuters) – Qantas Airways said on Tuesday Jetstar Japan would buy back its 33.32% stake in the budget carrier in an 8.2 billion yen ($52.11 million) deal, paving the way for it to come under Japanese ownership and rebrand under a new name. As part of the deal signed by Qantas, Japan Airlines
