By Enes Tunagur and Shadia Nasralla LONDON, July 24 (Reuters) – With two of its key oil export routes – the Hormuz and Bab el- Mandeb straits – disrupted by Iran and Iran-allied Houthi militants, Saudi Arabia has to resort to exporting oil via Egypt’s Suez Canal. While the kingdom has previously use
Trump imposes double-digit tariffs on dozens of countries as his 10% levies are set to expire Friday WASHINGTON (AP) — President Donald Trump is going ahead with new double-digit tariffs on dozens of U.S. trading partners just as the clock runs out Friday on stopgap levies he imposed after a stingin
MEXICO CITY, July 23 (Reuters) – Mexico’s Economy Minister Marcelo Ebrard said on Thursday that the country will “see no change in the effective tariff that Mexico pays,” after the U.S. government announced it would impose new tariffs of 10% and 12.5% on 60 trading partners as of Friday. According t
By Leika Kihara TOKYO, July 24 (Reuters) – The U.S. Treasury Department said yen weakness has persisted despite the narrowing of U.S.-Japan interest rate differentials, warning excess volatility in the currency was undesirable. The Treasury also called for further interest rate hikes by the Bank of
BRASILIA/SAO PAULO, July 23 (Reuters) – The Brazilian government on Thursday rejected the tariffs imposed by the United States on the South American nation and another 59 trading partners related to forced labor, calling the move “arbitrary” and “unjustified.” “Lacking a legal basis under domestic l
NEW YORK (AP) — Criticized by a federal judge for sloppy legal work, the government on Thursday grudgingly withdrew subpoenas that would have compelled three New York Times reporters to testify about their sources for articles about President Donald Trump’s Qatari-gifted Air Force One jet. The withd
By Jamie McGeever ORLANDO, Florida, July 23 (Reuters) – European and U.S. stocks slumped while bond yields shot higher on Thursday, with global markets rocked by oil’s surge above $100 a barrel and earnings reports from two U.S. “Big Tech” companies that showed they are burning through cash at an al
Ford and Chinese automotive company Geely Auto announced plans on Thursday to jointly manufacture low- and zero-emission vehicles at Ford’s Valencia, Spain factory. The partnership is a bid to reignite Ford’s offerings for the European auto market as the legacy carmaker seeks to compete with the lik
By Divya Rajagopal and Varun Sahay July 23 (Reuters) – Newmont, the world’s biggest gold miner, beat second-quarter profit estimates on Thursday after a rally in bullion prices outweighed the impact of lower output, while it forecast steady production in the third quarter. Gold has rallied on safe-h
WASHINGTON (AP) — Senate Democrats want a watchdog at the Internal Revenue Service to investigate the recent departure of a high-ranking IRS attorney who clashed with President Donald Trump’s White House after the attorney raised concerns about influence over taxpayer audits. Kenneth Kies, an assist
July 23 (Reuters) – No major U.S. trading partner manipulated its currency to gain an unfair trade advantage in 2025, the U.S. Treasury Department said on Thursday, but 10 leading trading partners remain on a list for enhanced monitoring of their foreign exchange practices. In its latest semi-annual
By Marianna Parraga and Deisy Buitrago CARACAS, July 23 (Reuters) – Venezuela’s oil ministry has told partners of state energy company PDVSA that it will maintain the July 28 deadline it had set to migrate oil and gas contracts to a new legal framework approved in January, rushing executives to comp
NEW YORK (AP) — Already feeling pinched since the start of the Iran war, consumers are likely to feel more pain ahead as oil prices pushed past $100 a barrel Thursday amid renewed fighting and military strikes that have left global oil supplies stranded in the Middle East. The elevated price marked
By Laila Kearney NEW YORK, July 23 (Reuters) – U.S. energy officials pushed for more independence and transparency in PJM Interconnection on Thursday as regulators weigh reforms to the country’s largest power grid, which faces the growing risk of blackouts as data center demand soars while few new e
The average long-term U.S. mortgage rate climbed this week to its highest level in nearly 12 months, pushing up borrowing costs for prospective homebuyers at a time when rising oil prices are already squeezing household budgets. The benchmark 30-year fixed rate mortgage rate rose to 6.58% from 6.55%
WASHINGTON (AP) — President Donald Trump on Thursday will have governors and electricity companies join a voluntary pledge to shield U.S. consumers from higher utility bills from data centers — a sign of how the artificial intelligence build- out has become a lightning rod of controversy before the
By Mike Stone and Aishwarya Jain WASHINGTON, July 23 (Reuters) – The world’s two biggest defense contractors, Lockheed Martin and RTX, said on Thursday they expect strong profits going forward because a wave of global conflicts from Iran to Ukraine has depleted Pentagon stockpiles that will need rep
July 23 (Reuters) – Databricks said on Thursday it would expand its partnership with Microsoft through the 2030s, a deal under which it will increase its use of the Azure platform and Microsoft’s custom chips. Databricks offers a platform that helps users ingest, analyze and build AI applications us
(Corrects to remove extraneous word in Bullet 1) July 23 (Reuters) – Anthropic is considering requiring rank-and-file employees to sell stock through preset trading plans after it goes public to avoid insider-trading concerns, The Information reported on Thursday, citing people familiar with the mat
July 23 (Reuters) – The U.S. Department of Justice’s antitrust division said it would streamline the merger review process, a move that could expedite clearance for some deals as the Trump administration takes a more business-friendly antitrust stance. Here are some details: • Companies have to file
NEW YORK, July 23 (Reuters) – Investor requests to withdraw from Blackstone’s flagship private credit fund have fallen at the beginning of the third quarter after a period of higher demand to redeem, the world’s largest alternative asset manager’s president said on Thursday. “It’s early in the quart
July 23 (Reuters) – Aerolineas Argentinas said on Thursday it will add 20 new aircraft to its fleet, marking the state airline’s largest revamp in a decade as it seeks to renew a quarter of its total fleet and 60% of its long-haul operations. • The 2027 to 2031 plan will be financed entirely with th
July 23 (Reuters) – U.S. energy shares rose in premarket trading on Thursday as Brent crude briefly touched $100 a barrel, extending a five-day rally after attacks on two Saudi oil tankers intensified Middle East tensions and heightened concerns over global oil supply disruptions. Houthi forces in Y
July 23 (Reuters) – U.S. equity holdings have surpassed real estate as a share of net financial wealth for the first time since World War Two, Goldman Sachs said, underscoring how stocks have become a dominant driver of household wealth and consumer spending.”Equity gains have been the dominant driv
By Manya Saini and Tatiana Bautzer July 23 (Reuters) – Lazard reported a 91% drop in second-quarter profit on Thursday, as a higher tax rate and a move to overhaul its financial advisory business weighed on results. The bank said it was cutting more than 80 managing director positions while hiring b
By Ragini Mathur and Avinash P July 23 (Reuters) – U.S. stock indexes were on track to open lower on Thursday as concerns over heavy AI spending resurfaced after the first batch of Big Tech earnings, while another jump in oil prices linked to the widening Middle East conflict further dampened sentim
July 23 (Reuters) – Asset and wealth manager Ameriprise Financial reported a rise in its second-quarter profit on Thursday, driven by a market rally that boosted the value of its fee-generating assets. Here are more details from the earnings report: • Ameriprise’s assets under management, administra
July 23 (Reuters) – Harley-Davidson reported lower second-quarter profit and revenue but raised its annual forecast on Thursday, as the legacy motorbike maker leaned on its wider turnaround plan to navigate higher costs of raw materials. The company has been focused on its “Back to the Bricks” turna
By Dan Burns July 23 (Reuters) – The number of Americans seeking unemployment benefits for the first time unexpectedly fell last week to the lowest since the 1960s, indicating the U.S. job market continues on an even keel and leaving Federal Reserve officials to keep their focus on containing inflat
July 23 (Reuters) – Freeport-McMoRan beat Wall Street estimates for second-quarter profit on Thursday, as higher copper prices offset lower production at its Grasberg mine in Indonesia. Shares of the company were up 1.4% in premarket trading. Average copper prices climbed 41.5% year-on-year in the s
