BRUSSELS (AP) — The European Union is offering 10 billion euros ($11.4 billion) in funding for firms to erect seven AI gigafactories as it seeks to close the AI gap with U.S. and China, the 27-nation bloc’s executive said on Thursday. The European Commission said it would like the public financing t
July 30 (Reuters) – Qualcomm shares fell about 5% in premarket trading on Thursday after the chipmaker’s warning about higher memory costs and a steeper decline in Apple revenue raised concerns about near-term profit growth. A surge in AI infrastructure spending has tightened semiconductor supply ch
July 30 (Reuters) – Yum Brands posted better-than-expected quarterly profit and a rise in comparable sales on Thursday, amid concerns the growing cyclospora outbreak linked to its Taco Bell chain may weigh on near-term demand. Taco Bell has been Yum’s main growth driver, drawing consumers with its T
By Michael Erman July 30 (Reuters) – Bristol Myers Squibb raised its full-year revenue and profit forecast on Thursday after reporting second-quarter results that came in well ahead of Wall Street estimates, driven by strong sales of blood thinner Eliquis and newer drugs like heart medicine Camzyos
By Isla Binnie July 30 (Reuters) – KKR raked in higher fees from managing a growing stack of assets and cashed out on more investments in the second quarter, the New York-based investment firm said on Thursday. Fee from managing client money, which KKR earns regardless of how investments perform, ju
July 30 (Reuters) – U.S. stock index futures steadied on Thursday after a sharp selloff driven by uncertainty around the Federal Reserve’s policy outlook, while Microsoft’s forecast-beating results soothed investor concerns about massive AI spending by companies. Microsoft rose nearly 9% in premarke
July 30 (Reuters) – Hershey exceeded Wall Street expectations for second-quarter sales on Thursday as higher prices and steady demand for its Reese’s chocolates and Dot’s Pretzels helped offset a cautious spending environment. The company posted an overall net sales increase of 6.6% to $2.79 billion
July 30 (Reuters) – Starbucks shares jumped 5.6% in premarket trading on Thursday, after a fourth straight quarter of comparable sales growth and increased annual targets indicated CEO Brian Niccol’s efforts were yielding sustainable results. • Niccol’s turnaround completes two years in September, a
PARIS, July 30 (Reuters) – L’Oreal plans to launch its first Gucci beauty products as early as 2028, the company’s Chief Executive Nicolas Hieronimus said on Thursday, adding he was “super ambitious” for the brand that is also showing signs of improvement in its core fashion and leather goods lines.
July 30 (Reuters) – Mercedes-Benz is recalling 310,667 vehicles in the U.S. due to risk of failure to detect an open door, the U.S. National Highway Traffic Safety Administration (NHTSA) said on Thursday. The recall includes models such as CLA, A-Class, C-Class, CLE, GLA/GLB, and GLC vehicles, the N
By Leo Marchandon July 30 (Reuters) – Capgemini Chief Executive Aiman Ezzat said on Thursday that companies hoping to deploy artificial intelligence at scale will first need to modernise decades-old technology systems, creating what he described as a multi-year investment cycle in data, software and
By Stephanie Kelly and Shadia Nasralla LONDON, July 30 (Reuters) – Shell’s adjusted earnings, its measure of net profit, more than doubled from last year to $9.84 billion in the second quarter, beating expectations, helped by higher energy prices and increased market volatility during the Middle Eas
July 30 (Reuters) – Magnum Ice Cream reported half-year core earnings above market expectations on Thursday, driven by cost cuts following its December spin-off from Unilever, and said trading remained strong at the start of the key summer season. Sales of Ben & Jerry’s grew 9.2% in the second quart
By Cynthia Kim SEOUL, July 30 (Reuters) – South Korea’s efforts to rein in the leveraged products wreaking havoc in its financial markets may not go far enough to quell skyrocketing volatility, analysts say, as pain and public anger mount over a $2 trillion-and-counting stocks wipeout. As the hottes
By Stephanie Kelly and Shadia Nasralla LONDON, July 30 (Reuters) – Shell’s adjusted earnings, its definition of net profit, reached $9.84 billion in the second quarter, it said on Thursday, beating expectations and more than doubling its profit from the same time last year. Higher oil and gas prices
MILAN, July 30 (Reuters) – Stellantis said on Thursday its operating income more than tripled in the second quarter, driven by strong revenue growth in North America, helping the automaker generate €1 billion ($1.15 billion) in industrial free cash flows. The figures suggest the Fiat-to-Jeep maker i
HONG KONG (AP) — Oil prices gained Wednesday and Asian shares were mostly trading lower as South Korea’s Kospi extended its losses after falling more than 16% over the past two days led by artificial intelligence-related stocks. Crude prices remain volatile after the U.S. said early Thursday it had
July 30(Reuters) – German sportswear maker Adidas on Thursday raised its sales forecast for the year after second-quarter revenues beat expectations, boosted by the soccer World Cup and strong consumer demand for its latest collections. It now expects currency-neutral revenues to grow between 9% and
July 30 (Reuters) – J.P.Morgan now expects the Federal Reserve to deliver a quarter-point rate hike in December, bringing forward its previous forecast for an increase in the second half of 2027, after the central bank left policy rates unchanged at its July meeting. Fed Chair Kevin Warsh reaffirmed
By Rachel More BERLIN, July 30 (Reuters) – German premium carmaker BMW said it was steeling itself for tougher competition with workforce reductions as pre-tax earnings slumped by over a third in the second quarter due to Middle East headwinds and weakness in China. The company on Thursday reported
HANOI, Vietnam (AP) — The noise is everywhere in Hanoi. The crack of a hydraulic breaker, the groan of excavators, the crunch of brick and concrete being torn apart. As Vietnam pushes for double-digit economic growth, its capital is pursuing an ultramodern vision for the next 100 years. In the first
MILFORD, Mich. (AP) — Flying to a rally at General Motors this week, President Donald Trump declared that “car companies are doing better than they’ve ever done” thanks to his tariffs. “All because of Trump,” he said. It was a message the Republican president repeated while touring a collection of n
By Gertrude Chavez-Dreyfuss NEW YORK, July 30 (Reuters) – Investors searching for clarity from a newly led U.S. Federal Reserve were disappointed on Wednesday, warning that the central bank’s mixed messages on the outlook for interest rates could unsettle stocks and bonds and increase the risk of ma
A look at the day ahead in European and global markets from Ankur Banerjee A divided Federal Reserve and a confusing message from Chair Kevin Warsh on where rates are headed has left the bond market scratching its head and somehow in charge, in an odd reversal that raises questions about the central
By Makiko Yamazaki TOKYO, July 30 (Reuters) – Japan’s government cut its economic growth forecast for the current fiscal year on Thursday, as higher oil prices linked to Middle East tensions squeeze household spending and corporate profits. In its mid-year estimates, the Cabinet Office projected inf
HAVANA (AP) — In an effort to fend off a mounting humanitarian crisis, Cuba on Wednesday eased up on longtime restrictions on private vendors and imports, opening up a sector firmly controlled by the Communist-led government. The reforms would allow for the import and resale of some goods and medici
SEOUL, South Korea (AP) — South Korean technology giant Samsung Electronics on Thursday reported a record operating profit of 89.5 trillion won ($62 billion) for the April-June period, a day after crosstown rival SK Hynix also reported record earnings, as the world’s two largest memory chipmakers co
By Ankur Banerjee SINGAPORE, July 30 (Reuters) – Asian stocks struggled for direction in choppy trading on Thursday after a week of market turbulence sparked by AI jitters, as a divided Federal Reserve stood pat on rates and left bond markets uncertain about the next move. Brent futures slipped belo
SYDNEY, July 30 (Reuters) – KPMG Australia said on Thursday it had made no decision on possible job cuts after the Australian Financial Review (AFR) reported that the firm plans to eliminate about 1,000 positions or 10% of its workforce following an audit misconduct scandal. Details on the roles to
By Gregor Stuart Hunter SINGAPORE, July 30 (Reuters) – The U.S. dollar found its footing at the start of Asian trading on Thursday after the Federal Reserve kept its policy interest rate on hold and Chair Kevin Warsh left markets guessing about how divisions on its rate-setting committee would resol
