By Gianluca Lo Nostro July 28 (Reuters) – Airbus completed a marathon test flight lasting more than 24 hours that triggered a surge in online tracking, when an A350 jet being developed for record-beating commercial flights touched down in France from Melbourne on Tuesday. The test marks a key step i
July 28 (Reuters) – Hormel Foods on Tuesday named insider and industry veteran John Ghingo as CEO, as the Skippy peanut-butter maker looks to drive growth and modernize operations amid a challenging consumer spending environment. Ghingo, 53, has more than 25 years of leadership experience across the
A reader asked about the capital appreciation potential of bonds: Strictly speaking, the underlying dollar value of most bonds won’t appreciate. With few exceptions, a bond’s price at maturity (also known as par value) will never increase; it remains fixed throughout the bond’s lifetime. Because the
July 28 (Reuters) – PayPal doubled down on its turnaround plan on Tuesday, raising its 2026 profit forecast and outlining cost-saving steps, as it looks to convince investors that it is worth more than the $53 billion takeover offer that analysts described as “low-ball”. The payments company, once t
July 28 (Reuters) – Coca-Cola on Tuesday raised its annual revenue and profit forecasts, betting on strong demand for its zero sugar beverages as well as its fairlife milk brand in the United States. The company expects organic revenue growth of about 5%, compared with its prior target of 4% to 5% g
July 28 (Reuters) – Hilton Worldwide Holdings raised its forecast for full-year room revenue growth on Tuesday as demand from its luxury properties remained robust. Wealthier households have continued to spend on luxury experiences despite persistent inflationary pressures and weaker revenue from th
By Mike Dolan July 28 (Reuters) – What matters in U.S. and global markets today By Mike Dolan, Editor-at-Large, Finance and Markets The chip stock correction snowballed again overnight amid growing concerns about rising competition and circular financing. This comes ahead of a set of critical earnin
By Marc Jones LONDON, July 28 (Reuters) – The AI boom and the risk of a correction are emerging as major global credit risks, ratings agency Fitch has warned, adding to growing concerns that soaring tech valuations and unprecedented AI spending may be running ahead of uncertain future returns. In it
LOS ANGELES, July 28 (Reuters) – United Parcel Service raised its annual revenue forecast and posted second-quarter results above Wall Street estimates on Tuesday after a planned pullback in Amazon.com volumes as a promised return to year-over-year growth materialized. The world’s largest parcel del
By Ann Saphir and Michael S. Derby WASHINGTON, July 28 (Reuters) – The bar for a Federal Reserve interest rate hike this week is likely higher than reflected in rate futures markets, not only due to cooler-than-expected inflation data and another lull in hostilities between the U.S. and Iran but als
July 28 (Reuters) – Shares in LVMH were seen falling 2% to 3% in premarket on Tuesday, after the French luxury giant reported overnight second-quarter sales that failed to convince investors about an imminent recovery at its most profitable division. The owner of Louis Vuitton, Dior and Moet & Chand
By Lucie Barbier and Alessandro Parodi July 28 (Reuters) – The chief executive of Philips said on Tuesday that delayed orders in the U.S. and market pressure in China weighed on the healthcare tech group’s second-quarter results, even as it lifted its margin outlook for the full year. The Dutch make
HONG KONG (AP) — South Korea’s Kospi index plunged more than 11% on Tuesday on heavy selling of chipmaking stocks that have been battered recently by sell-offs due to fears the boom in artificial intelligence may turn out to be a bubble. Most other markets in Asia declined and U.S. futures edged low
A corporate fad of “tokenmaxxing” on artificial intelligence technology is hitting its limits as workplaces throwing AI at everything are seeing the costs rise without a similar spike in productivity. What started as tech industry-fueled springtime hype over squeezing as much AI-generated work as po
HONG KONG, July 28 (Reuters) – Citigroup has appointed three senior traders to its foreign exchange options desk in Singapore as it seeks to boost its regional market-making and risk management capabilities, according to a company statement on Tuesday. The Wall Street lender appointed Eric Poon as d
A look at the day ahead in European and global markets from Tom Westbrook Chip stocks tanked across Asia on Tuesday, spooked by the twin threats of rising Chinese competition and mounting questions about the funding and longevity of the AI infrastructure boom. South Korea’s KOSPI fell nearly 10% and
By Rollo Ross LOS ANGELES, July 27 (Reuters) – Apple’s incoming CEO, hardware chief John Ternus, said he was committed to building on the company’s momentum in the entertainment business when he takes the helm of the iPhone maker in September. The technology giant began offering original TV series a
By Tom Westbrook and Ankur Banerjee SINGAPORE, July 28 (Reuters) – Chip stocks tanked across Asia on Tuesday, rattled by the threat of Chinese competition and worries about who’s paying for the AI boom, while sliding oil prices did little to allay nerves about U.S. rate hikes potentially starting as
By Ishaan Arora and Siyi Liu July 28 (Reuters) – Oil prices edged lower on Tuesday, hovering around one-week lows amid hopes for a resolution in the U.S.-Iran war, while subdued flow through the Strait of Hormuz and further supply disruption risks underpinned the market. Brent crude futures were dow
By Satoshi Sugiyama TOKYO, July 28 (Reuters) – The U.S. dollar held at a one-month high on Tuesday as traders weighed a slim but lingering chance of a rate hike at the Federal Reserve’s upcoming meeting, even as falling oil prices eased some concerns over inflation. The dollar index, which measures
SAO PAULO, July 27 (Reuters) – Brazil has requested consultations with the U.S. under the World Trade Organization’s dispute settlement system over tariffs announced by the Trump administration this month, the Brazilian Foreign Relations Ministry said in a statement on Monday. The request is related
By Dan Catchpole SEATTLE, July 27 (Reuters) – The U.S. Federal Aviation Administration said on Monday that seats on hundreds of Boeing 737 MAX jets registered in the U.S. may require inspections in case they were incorrectly installed and needed to be fixed. If not corrected, the seats could injure
By David Lawder July 27 (Reuters) – U.S. Trade Representative Jamieson Greer said on Monday President Donald Trump’s new tariffs on 60 trading partners over their alleged lax enforcement of forced labor bans will likely not have an economic impact in part because the rates of 10% or 12.5% are simila
BUENOS AIRES, Argentina (AP) — International Monetary Fund Managing Director Kristalina Georgieva praised Argentine President Javier Milei’s austerity policies and reform agenda Monday, saying they have restored market confidence in a country long regarded as a serial defaulter on its sovereign debt
By Dietrich Knauth NEW YORK, July 27 (Reuters) – Johnson & Johnson said on Monday it would pay an estimated $5.5 billion to resolve tens of thousands of lawsuits alleging its baby powder and other talc products cause ovarian cancer, in a landmark deal that could end a contentious legal battle that h
WASHINGTON, July 27 (Reuters) – Lawmakers, Native American tribes, consumer advocates and others are voicing strong opposition to the Trump administration’s plans to regulate sports and other wagering in the booming prediction market industry, according to a review of public comments available on Mo
By David Shepardson WASHINGTON, July 27 (Reuters) – The Federal Aviation Administration said on Monday it was slowing flights into three New York City area airports and Philadelphia International Airport due to severe weather and air traffic staffing shortages. Staffing issues at the New York Air Ro
U.S. Immigration and Customs Enforcement plans to keep one of its largest and most expensive detention facilities open for at least another year despite calls to close it over reported human rights abuses, according to a notice published last week. ICE plans to extend the no-bid contract of the firm
BRASILIA, July 27 (Reuters) – Brazil and South Korea agreed to accelerate talks on a potential trade deal between the Asian nation and the South American bloc Mercosur, their presidents said on Monday during a ceremony in Brasilia. Brazil has been seeking to expand deals — alone or through Mercosur,
By Jonathan Stempel NEW YORK, July 27 (Reuters) – The former JPMorgan Chase banker whose lurid sexual harassment lawsuit went viral added new claims and defendants on Monday, saying the largest U.S. bank’s acceptance of racism and sexual coercion irreparably destroyed his career. Chirayu Rana said r
