BRASILIA, July 22 (Reuters) – The Brazilian government on Wednesday announced 18.5 billion reais ($3.66 billion) in financing for companies hit by U.S. tariffs, adding the resources will also target firms impacted by international conflicts. In a statement, the administration of President Luiz Inaci
By Pritam Biswas July 22 (Reuters) – CME Group beat Wall Street’s second-quarter profit estimates on Wednesday, fueled by strong hedging demand, sending the derivatives exchange’s shares up 6.1%. Meanwhile, the company’s outgoing CEO, Terry Duffy, reiterated his criticism of perpetual futures, which
LISBON/MADRID, July 22 (Reuters) – Ford Motor and China’s Geely have struck a landmark deal under which the U.S. automaker will sell part of its Almussafes plant near Valencia, paving the way for Geely to manufacture electric vehicles in Spain, ABC newspaper reported on Wednesday. Citing sources fam
By Divya Rajagopal TORONTO, July 22 (Reuters) – Panama is considering creating a state-owned mining firm to partner with Canada’s First Quantum on the re-opening of the shuttered flagship Cobre Panama copper mine, two people familiar with the development told Reuters. The mine, one of the world’s la
Pakistan Pursues Honeywell Refinery Deal To Bolster Energy Security By Arshad Mehmood / The Media Line Pakistan Finance Minister Muhammad Aurangzeb met Honeywell Technologies executives in Washington on Monday to discuss the company’s proposal to modernize and expand Pakistan’s refining sector. The
US, Jordan Sign Reciprocal Trade Agreement, Cap Tariffs at 10% By The Media Line Staff Jordan and the United States signed a reciprocal trade agreement in Washington on Tuesday, seeking to deepen commercial ties as both governments promote trade and investment as a pillar of their long-standing stra
By Marcelo Teixeira NEW YORK, July 22 (Reuters) – U.S. coffee drinkers, already paying the highest prices in a decade, could eventually feel the effects of any reaction by Washington to Nicaraguan President Daniel Ortega’s move to ban elections in that Central American country, traders and analysts
July 22 (Reuters) – Daimler Truck, one of the world’s biggest truckmakers, raised its full-year adjusted operating profit forecast on Wednesday, citing an updated tariff framework and higher expected sales at its Trucks North America business. The company now expects 2026 adjusted earnings before i
By Rajesh Kumar Singh and Nandan Mandayam CHICAGO, July 22 (Reuters) – Alaska Air Group returned to profitability in June with a double-digit pretax margin despite fuel prices running nearly 70% higher than a year earlier, CEO Ben Minicucci said on the carrier’s quarterly earnings call on Wednesday.
(Corrects typographical error in graphic) By Apratim Sarkar July 22 (Reuters) – Elevator maker Otis Worldwide on Wednesday cut its annual adjusted profit forecast on the back of increased costs, especially tied to labor, and said it had “broadly offset” the impact of the Middle East conflict with hi
PHNOM PENH, Cambodia (AP) — FBI Director Kash Patel held talks with Cambodian Prime Minister Hun Manet on Wednesday on joint efforts to combat international online scam operations that cheat victims out of billions of dollars each year. A report issued Tuesday by the United Nations Office of Drugs a
July 22 (Reuters) – SpaceX is preparing for at least one new large-scale data center in Texas, The Information reported on Wednesday, citing people familiar with the matter. The expansion would significantly increase the company’s AI computing capacity beyond its existing Memphis-area hub, where it
July 22 (Reuters) – Penske Corp and Mitsui , the controlling shareholders of Penske Automotive Group, have offered $210 per share in cash to take the auto dealership chain private, according to a regulatory filing on Wednesday. Penske Automotive Group’s shares rose over 11% during morning trade. • I
PAGE, Ariz. (AP) — Matt Barrett has seen Lake Powell drop nearly every year since 2013 or so, when he started making annual treks to the reservoir on the Utah-Arizona border. Some very snowy winters helped it rebound quickly, but this year was far from that. “We need another one of those fast,” he s
DETROIT (AP) — Winter Storm Uri, the multiday freeze that slammed Texas in February 2021 and pummeled the state’s power grid, has been on Kenneth Kovar’s mind ever since. Though the resident of New Braunfels, northeast of San Antonio, didn’t lose power at the time, he wasn’t able to run his septic t
DUBAI, United Arab Emirates (AP) — U.S. President Donald Trump warned Wednesday that the U.S. will destroy one bridge or power plant each time Iran shoots at a ship in the Strait of Hormuz. Trump’s latest threat to target civilian infrastructure came as the unpopular war spirals with no clear offram
By Sumit Saha July 22 (Reuters) – GE Vernova missed Wall Street estimates for second-quarter adjusted core profit on Wednesday as losses in its Wind business widened, overshadowing strong growth in its Power and Electrification units. Shares were down 6.4% in early trade. The Wind unit was hurt by w
(Corrects typographical error in headline) July 22 (Reuters) – Private equity firm Platinum Equity is nearing a deal to acquire about a 50% stake in Nestle’s European water business in a transaction that would value the joint venture at almost €5 billion ($5.71 billion), the Financial Times reported
By Jonathan Stempel NEW YORK, July 22 (Reuters) – A judge rejected Zelle’s bid to dismiss a lawsuit by New York Attorney General Letitia James, who said the electronic payment platform’s refusal to adopt critical safety features enabled fraudsters to steal more than $1 billion from consumers. In a d
By Joanna Plucinska, Julia Payne and Alessandro Parodi FARNBOROUGH, England, July 22 (Reuters) – The European Union is preparing a review of airline ownership rules to prevent foreign investors from gaining effective control of carriers, an EU official said, a move that could complicate U.S. bids fo
CONYERS, Ga. (AP) — More than twice the amount of swimming pool chemicals as planned were improperly stored at a Georgia plant, setting conditions for a fire in 2024 that sent a huge plume of orange and black smoke into the sky and forced residents to shelter in place, a federal agency report conclu
By Hyunjoo Jin SEOUL, July 22 (Reuters) – Samsung Electronics on Wednesday unveiled a passport-sized foldable phone and raised prices of two updated foldable models, as it grapples with rising memory chip prices while bracing for a new threat from Apple in the niche but growing segment. The South Ko
By Tatiana Bautzer NEW YORK, July 22 (Reuters) – Citigroup said on Wednesday it has hired five managing directors for its technology investment banking in the U.S. from Bank of America, JPMorgan Chase and UBS. Chris Groe, who recently left Bank of America, will be responsible for deals in payments,
July 22 (Reuters) – Wellington Management, Vanguard and Blackstone are launching two funds that will offer investments in both public and private markets for a growing cohort of wealthy individuals, the companies said on Wednesday. Investments in most private equity, private infrastructure, private
July 22 (Reuters) – Advanced Micro Devices has signed a deal with artificial intelligence startup Anthropic for tens of billions of dollars worth of AI servers and will invest up to $5 billion in the company, the Wall Street Journal reported on Tuesday. The agreement covers up to 2 gigawatts of AMD’
July 22 (Reuters) – The interest rate on the most popular type of U.S. home loan crept up again last week to the highest since last August with little prospect for an immediate break for would-be homebuyers, thanks to inflation-wariness among Federal Reserve officials and across bond markets. The co
By Prerna Bedi and Pushkala Aripaka July 22 (Reuters) – U.S. warehousing giant Prologis on Wednesday made what it called its best and final proposal to buy British rival Segro for about £14 billion ($18.8 billion), in a last-minute approach ahead of a deadline as investors urged the pair to keep tal
By David Shepardson July 22 (Reuters) – The U.S. Senate Commerce Committee is set to consider bipartisan legislation to toughen a U.S. government ban on Chinese automakers entering the American market, but some provisions remain under debate ahead of an expected vote Wednesday. Republican Senator B
The Lexus ES and Mercedes-Benz CLA are two luxury sedans you might be familiar with. The ES is Lexus’ comfort-oriented midsize sedan, while the CLA is a relatively affordable entry point to getting a new Mercedes. Notably, both are redesigned for 2026 and come in both gas-powered and fully electric
PARIS (AP) — The French minister for environmental transition backpedaled Wednesday and stayed in office after a meeting with President Emmanuel Macron, who did not accept her resignation. Monique Barbut, who was appointed in October, had announced a few hours earlier that she would step down over a
