By Colleen Howe BEIJING, July 30 (Reuters) – Oil prices gave up some of their gains on Thursday as oil tankers continued to make their way out of the Middle East even as tensions there escalated, with the U.S.-Iran war spreading beyond its main fronts. Brent futures fell $1.29, or 1.42%, to $89.45 a
SEOUL, July 30 (Reuters) – Samsung Electronics said on Thursday its operating profit jumped 19-fold to a record in the second quarter, as solid demand for AI chips offset weaker earnings at its mobile business. The world’s top memory chipmaker reported operating profit of 89.4 trillion won ($61.91 b
By Anuja Bharat Mistry and Waylon Cunningham July 29 (Reuters) – Chipotle Mexican Grill raised its annual sales forecast on Wednesday but said the third quarter is likely to be its toughest of the year after a multistate cyclosporiasis outbreak dented consumer confidence in eating out in late July.
By Muvija M LONDON, July 30 (Reuters) – A wave of Chinese entrants into Britain’s car market is piling pressure on traditional manufacturers, forcing them to offer deeper discounts to compete with lower-cost imports, the head of the country’s main automotive industry body said on Thursday. Chinese b
By Max A. Cherney and Tom Hals SAN FRANCISCO/WILMINGTON, Delaware, July 29 (Reuters) – Intel has provided access to some of its processor technology to a new startup, according to a source and documents reviewed by Reuters, in a rare move for the U.S. chipmaker. Intel CEO Lip-Bu Tan and the startup’
By Dan Burns July 29 (Reuters) – Kevin Warsh came into the Federal Reserve chairman’s seat busting for, as he repeatedly called it, a “good family fight,” and he appears to have had a bruiser at this week’s two-day policy meeting, just the second he has overseen. Three of his fellow Federal Open Mar
Meta Platforms said Wednesday its second-quarter profit declined even as revenue beat Wall Street’s expectations, as legal expenses and severance costs for recent layoffs weighed on its results. The Facebook and Instagram parent company earned $15.85 billion, or $6.18 per share, in the April-June pe
Starbucks shares soared Wednesday after the coffee giant reported better-than-expected quarterly revenue and profit and raised its financial outlook for the year. The Seattle company said global same-store sales in its fiscal third quarter rose 7.9%, which was well above the 5.7% increase Wall Stree
By Jarrett Renshaw and Siddharth Cavale July 29 (Reuters) – The Trump administration is weighing whether to extend a Sept. 1 deadline requiring oil refiners to demonstrate compliance with the nation’s biofuel blending laws, a move that could provide the industry more flexibility as it grapples with
Elon Musk’s company xAI has sued Minnesota over the state’s first-in-the-nation law that bans “nudification” technology on websites and apps, potentially providing a test for how far states can go in constitutionally regulating the use of artificial intelligence. Musk’s company sued Monday in federa
By Courtney Rozen WASHINGTON, July 29 (Reuters) – OpenAI CEO Sam Altman on Wednesday said he is meeting with U.S. senators to talk about his company’s upcoming models, more than a week after his company disclosed that one of its AI systems had gone rogue during testing. Altman met with Senators Rap
NEW YORK, July 29 (Reuters) – The Federal Reserve held interest rates steady on Wednesday, a choice that may intensify questions about how U.S. central bank chief Kevin Warsh will deliver on his commitment to bring inflation back down to the 2% target. The decision to leave the benchmark interest ra
By David French NEW YORK, July 29 (Reuters) – Shell and Phillips 66 are working on a potential sale of their stakes in the company which owns the Explorer refined products pipeline, in a deal that could value the major piece of U.S. energy infrastructure at around $3.5 billion, people familiar with
By Dominique Patton PARIS, July 29 (Reuters) – The world’s largest cosmetics company L’Oreal reported better-than-expected quarterly sales on Wednesday, boosted by strong demand for new hair products and mascaras. The Paris-based maker of CeraVe skincare, Maybelline make-up and Valentino perfume sai
By Gilles Guillaume PARIS, July 29 (Reuters) – Renault posted a 9.4% rise in first-half revenue on Wednesday and swung back to profit thanks to strong electric vehicle sales, as it withstood growing pressure from incumbent rivals and Chinese newcomers on car prices across Europe. “Our first-half res
July 29 (Reuters) – Aon reported a jump in second-quarter profit on Wednesday, as the insurance broker giant benefited from robust demand for its commercial risk management offerings. The construction business has benefited from strong data center spending by Big Tech firms, boosting demand for insu
By Tom Sims, Ariane Luthi and Tommy Reggiori Wilkes FRANKFURT/ZURICH/LONDON, July 29 (Reuters) – Deutsche Bank and UBS beat forecasts again with second-quarter earnings on Wednesday, buoyed by a surge in trading activity and strong retail business as Europe’s lenders extend a more than two-year-long
SADIRAC, France (AP) — From his vineyards in Bordeaux wine country, Edouard le Grix de la Salle can sometimes smell the burning forests far away. The smoke brings a whiff of hardship for the region’s economic fortunes. Wildfires that have burned an area four times the size of Paris and driven 220,00
By Gabriel Araujo and Michael Susin SAO PAULO, July 29 (Reuters) – Banco Santander Brasil on Wednesday reported its weakest quarterly profit and profitability since late 2023, missing market expectations as tighter lending spreads and higher provisions for bad loans weighed on earnings. Shares in th
Pavel Durov, the billionaire founder and CEO of the Telegram messaging app, has repeatedly run into trouble with both the Kremlin and Western officials as he cast himself as a champion of free speech. On Wednesday, Russia’s Federal Security Service, or FSB, accused him of aiding what it called terro
By Dietrich Knauth NEW YORK, July 29 (Reuters) – After years of failed attempts to resolve thousands of lawsuits alleging that its talc products caused cancer, Johnson & Johnson says it has reached a settlement, worth at least $5.5 billion, that could finally help bring an end to litigation that has
July 29 (Reuters) – Lufthansa and Air France-KLM submitted binding offers for a minority stake in Portugal’s TAP, Bloomberg News reported on Wednesday, citing people familiar with the matter. Reuters could not independently verify the report. (Reporting by Anna Peverieri in Barcelona;) Brought to y
By Aida Pelaez-Fernandez MEXICO CITY, July 29 (Reuters) – South Korea’s Kia will produce and sell fully electric vehicles in Mexico, managing director for the company Horacio Chavez said on Wednesday. The car manufacturer will invest $649 million in Mexico, Chavez added during President Claudia Shei
PARIS, July 29 (Reuters) – Airbus maintained financial and industrial forecasts as it unveiled stronger-than-expected second-quarter revenues and core profits on Wednesday, lifted by higher jetliner deliveries and gains in defence. The world’s largest planemaker said its quarterly adjusted operating
By Ann Saphir July 29 (Reuters) – As the clock ticked toward the U.S. Federal Reserve’s interest rate decision announcement on Wednesday afternoon, financial markets held their collective, metaphorical breath: Will they, or won’t they? Typically, well before the morning of a Fed rate decision day, p
The Federal Reserve is expected to keep rates unchanged for now despite high prices WASHINGTON (AP) — Federal Reserve policymakers are losing patience with inflation, which has been stuck above their 2% target for more than five years. But they may not be ready to turn their frustration into action
July 29 (Reuters) – U.S. mortgage interest rates climbed to their highest in about a year last week on an array of home loan products after a resumption of U.S.-Iran fighting drove up both oil prices and the inflation-sensitive Treasury yields that underpin residential borrowing costs. The contract
July 29 (Reuters) – Ferrari has hit its annual sales target for its controversial first electric vehicle model on the back of strong demand from China, the Financial Times reported on Wednesday, citing people familiar with the matter. The luxury sports car maker had aimed to sell just under 500 unit
By Patturaja Murugaboopathy July 29 (Reuters) – Major U.S. technology companies are borrowing heavily as they ramp up spending on their artificial intelligence buildout, and at steadily higher yields as investors become more selective about absorbing the growing supply. Amazon, Alphabet, Meta Platfo
Size, space and utility have made the three-row SUV a mainstay of American family life. But with more than dozen mainstream models on the market, choosing one can feel daunting. Thankfully, Edmunds has tested them all and identified the five best midsize three-row SUVs. From the top-ranked Hyundai P
