SACRAMENTO, Calif. (AP) — 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 Democrat’s office released more tha
July 31 (Reuters) – 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) – Dominion Energy, the U.S. electric utility covering the world’s 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) – 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) – 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 “years of escalating harms” 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) – 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 bank’s 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) – The portfolio value of Leopold Aschenbrenner’s 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) – 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 “illegal, unlicensed gambling operation” 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
WASHINGTON, July 31 (Reuters) – Chrysler-parent Stellantis said Friday it will recall just over 1.5 million Ram 1500 pickup trucks worldwide over a seat belt issue. The recall covers 2019–2026 Ram 1500 vehicles that may have been built with a second-row center or second-row driver side seat belt buc
By David Lawder July 31 (Reuters) – The U.S. Treasury has informed a number of banks that it may intervene in the Japanese yen market on Friday and that they should “stand ready for future action,” a source familiar with the matter told Reuters. The notice to banks, channeled through the Federal Res
July 31 (Reuters) – The Nasdaq opened higher on Friday, boosted by Amazon’s 12% jump after the Big Tech company joined some of its peers in delivering strong cloud revenue growth, putting to rest concerns about AI returns. The Dow Jones Industrial Average rose 27.0 points, or 0.05%, at the open to 5
WASHINGTON, July 31 (Reuters) – U.S. labor costs increased slightly more than expected in the second quarter as private-sector wage growth picked up, government data showed on Friday. The Employment Cost Index (ECI), the broadest measure of labor costs, climbed 0.9% last quarter after advancing by t
By Javi West Larrañaga and Gemma Guasch July 31 (Reuters) – Amadeus’ CEO said on Friday that air travel bookings were improving after the Iran war hit the travel technology company’s second-quarter results, adding that the worst impact was likely now over. The turmoil in the Middle East caused an in
July 31 (Reuters) – Colgate-Palmolive on Friday reaffirmed its annual sales forecast even after posting a quarterly rise as the toothpaste maker continues to grapple with muted demand in North America, sending its shares down 2.5%. Higher food and fuel prices tied to the Middle East conflict have hi
By Gertrude Chavez-Dreyfuss NEW YORK, July 31 (Reuters) – A sharp shift towards a steeper U.S. Treasury bond curve following the Federal Reserve’s decision to leave interest rates unchanged this week has raised concerns about the central bank’s credibility and willingness to fully confront inflation
BRUSSELS (AP) — The European Union rolled out a new team on Friday to rein in AI companies across the world, in one of the most aggressive regulations the high-tech sector has so far faced as fears rise over the risks the rapidly advancing technology poses to people, politics and prosperity. Brussel
By Ann Saphir July 31 (Reuters) – Federal Reserve Chairman Kevin Warsh’s emphatic declarations on Wednesday that inflation would be brought down without signaling a readiness to raise interest rates triggered a sharp selloff in bonds that may force a hard choice: defying President Donald Trump’s des
By Lewis Krauskopf NEW YORK, July 31 (Reuters) – U.S. employment data and a batch of corporate results this coming week will keep equity investors on edge over the direction of the stock market, which has been buffeted by geopolitical tensions, uncertain interest-rate policy and sizable moves in hea
July 31 (Reuters) – Global equity fund inflows rose to their highest in three weeks during the week to July 29, as investors snapped up technology sector funds during a market downturn, anticipating that the AI-driven advance has further to go. Investors bought global equity funds worth a net $27.21
July 31 (Reuters) – Linde, the world’s largest industrial gases company, said on Friday it had secured a new long-term agreement to supply ultra-high-purity industrial gases to one of the world’s largest semiconductor manufacturers and would invest about $1 billion in Arizona. As semiconductor manuf
July 31 (Reuters) – Universal Music Group shares plunged 23% on Friday after the world’s largest music company reported slower growth in subscription revenue, raising concerns about its streaming momentum. Subscription revenue growth slowed to 6.7% from 7.9% in the first quarter. Vivendi, UMG’s larg
By Shadia Nasralla and Yamini Kalia July 31 (Reuters) – BP wants to sell its British oil and gas fields in the North Sea as new Chief Executive Officer Meg O’Neill accelerates a sweeping portfolio overhaul aimed at improving profitability. A day earlier British Prime Minister Andy Burnham said he pl
By Jonathan Stempel NEW YORK, July 31 (Reuters) – New York’s attorney general sued Kalshi on Friday, claiming that its prediction market platform violates state laws against illegal gambling. In a petition filed in a state court in Manhattan, Attorney General Letitia James said Kalshi failed to obta
A look at the day ahead in European and global markets from Gregor Stuart Hunter What a wild ride. Markets in Asia staged a blistering rally on Friday after the scorching selloff in tech stocks earlier this week, while the yen resumed its descent as the Bank of Japan left interest rates on hold. Sou
SINGAPORE, July 31 (Reuters) – Japanese and South Korean authorities stepped in to buy their currencies in the open market in what sources described was a rare and an unprecedented coordinated market intervention, possibly alongside the United States. The intervention late Thursday lifted the yen aw
TOKYO, July 31 (Reuters) – The yen jumped suddenly against the dollar on Thursday after what market sources said was official yen buying in New York hours, coordinated with intervention by South Korea. It lifted the yen from near four-decade lows and gave it its biggest one-day boost on the dollar i
(Corrects name of company in paragraph 3 to ANZ, not ING) July 31 (Reuters) – Oil prices fell on Friday but kept on track for a monthly rise of about a fifth, as more supplies flowed through crucial maritime chokepoints, despite a lack of major breakthroughs in talks between the United States and Ir
BANGKOK (AP) — South Korea’s Kospi index jumped more than 16% on Friday, tracking gains on Wall Street as artificial intelligence-related stocks bounced back after losses earlier this week. U.S. futures edged higher and oil prices slipped. In early Asian trading, the Kospi surged at the open and rat
