July 21 (Reuters) – The U.S. Treasury Department has raised concerns about several Wall Street tax strategies, saying it may be “too good to be true”, Bloomberg News reported on Tuesday. Treasury officials told an industry gathering in New York that some of these products may be abusive and said it
July 21 (Reuters) – Trading platform Interactive Brokers reported a 35% rise in second-quarter profit on Tuesday, bolstered by elevated trading activity due to a sharp rally in U.S. equity markets during the period. The S&P 500 and Nasdaq posted strong gains during the April-to-June quarter as inves
By Raphael Satter WASHINGTON, July 21 (Reuters) – Hacking gang Anubis claimed credit on Tuesday for an attack on Coca-Cola-owned dairy company fairlife, threatening to publish stolen data unless it received an unspecified ransom. The group made the claim on its dark web site, saying it had stolen 1
July 21 (Reuters) – Alaska Air on Tuesday forecast third-quarter profit below Wall Street estimates as renewed U.S.-Iran fighting drove fuel prices higher, sending the carrier’s shares down about 2% in extended trading. The Seattle-based airline expects to break even or post adjusted profit of up to
July 21 (Reuters) – Property and casualty insurer Chubb reported a rise in second-quarter profit on Tuesday, helped by strong underwriting performance and investment returns. Demand for insurance remained firm in the quarter ended June 30, as households and businesses sought protection from large un
By Dan Catchpole FARNBOROUGH, England, July 21 (Reuters) – Hawaiian Airlines announced Tuesday that it is retiring its 19 Boeing 717s, which are all more than 20 years old, and replacing them with larger 737 Next Generation (NG) jets to keep up with growing demand for short inter-island flights begi
July 21 (Reuters) – Goldman Sachs has created a new platform as it looks to expand its private market offerings for wealthy clients, according to an internal memo seen by Reuters on Tuesday. The alternative investment platform will be led by Matt Doherty, who will continue to oversee the Wall Street
NEW YORK (AP) — Bill Gates and the staff of his charitable foundation met with convicted sex offender Jeffrey Epstein more than two dozen times even as employees expressed concerns about the reputational risk of working with him, an external review commissioned by the Gates Foundation found. The con
SANTIAGO, Chile (AP) — Weeklong rainstorms blamed on El Nino that have battered Chile have killed at least 10 people as authorities raced on Tuesday to reach more than 100,000 cut off by flash floods in what has been one of the country’s worst weather disasters in decades. Torrential rains and stron
July 21 (Reuters) – U.S. President Donald Trump’s latest slap shot aimed at Canada has sailed wide, with a 50% tariff on Canadian ice hockey sticks set to have little overall impact on the hockey-mad country. On Monday, Trump unveiled 50% tariffs on a wide range of imports from Canada, including ice
By Timothy Gardner WASHINGTON, July 21 (Reuters) – A coal council that advises the Trump administration on Tuesday urged the U.S. Department of Energy to provide financial support including loan guarantees and grants to help existing coal plants and get new ones built. President Donald Trump, who wa
By Arathy Somasekhar HOUSTON, July 21 (Reuters) – Asian refiners are seeking to ship crude oil from Saudi Arabia’s Red Sea port through the Suez Canal and around Africa after Yemen’s Iran-aligned Houthis said they would impose a naval blockade on Saudi Arabia. The move marks the latest redirection o
July 21 (Reuters) – Rio Tinto has agreed to transfer customers from its aluminium metal matrix composites (MMC) business to Canada’s Cymat Technologies, as the world’s largest iron ore producer exits the business, Cymat said on Tuesday. • Cymat and Rio Tinto Alcan, the miner’s aluminium division, si
By Jonathan Stempel NEW YORK, July 21 (Reuters) – Amgen reached a $74 million settlement of a lawsuit accusing the biotechnology company of waiting too long to disclose that it might owe the Internal Revenue Service $10.7 billion for underreporting six years of taxes. A preliminary settlement of the
FARNBOROUGH, England, July 21 (Reuters) – Planemakers and airlines have unveiled nearly 300 aircraft orders so far at Britain’s Farnborough Airshow, with Boeing edging past European rival Airbus in the race to seal deals. Industry sources, however, said that they expect dealmaking to fall short of s
By Marc Jones LONDON, July 21 (Reuters) – Government debt across developed economies is set to climb to a record $75.8 trillion by the end of 2026 as countries struggle with persistent budget deficits, geopolitical tensions and rising spending demands, Fitch Ratings said on Tuesday. The ratings agen
CLEVELAND (AP) — Cleveland’s WNBA team doesn’t play its first game until May 2028. However, the framework is steadily being put in place. The franchise announced on Tuesday that Progressive Insurance will be the jersey patch sponsor. It will also be the first time in the WNBA that a sponsor has boug
SAN FRANCISCO (AP) — A federal judge has approved a $1.5 billion copyright settlement in which artificial intelligence company Anthropic will pay thousands of authors about $3,000 per book after using pirated copies of their works to train its Claude chatbot. District Judge Araceli Martínez-Olguín s
July 21 (Reuters) – Airbus said on Tuesday it set a 2029 adjusted operating profit target of €12 billion to €13 billion ($13.69 billion-$14.83 billion) and announced a €5 billion share buyback programme over three years. The targets would represent a near doubling of earnings from 2025 levels, as th
MILAN, July 21 (Reuters) – A Milan court has rejected a request for precautionary measures filed by Telecom Italia (TIM) against KKR-backed FiberCop over new tariffs for access to Italy’s main fixed-line telecoms network, grid owner FiberCop said. The dispute centres on the terms governing TIM’s acc
July 21 (Reuters) – British retailer Frasers said on Tuesday that it has raised its holdings in Hugo Boss to about 30.28%, crossing a key regulatory threshold in its takeover pursuit of the German fashion house. Here are some more details: • Frasers acquired a further 2.55 million Hugo Boss shares,
By Kalea Hall DETROIT, July 21 (Reuters) – General Motors continues to navigate a messy global operating environment – tariffs, rising energy costs and other inflationary pressures – by leaning on an eager American car buyer. GM raised its 2026 profit forecast Tuesday for the second time this year,
West African Leaders Sign $25 Billion Nigeria-Morocco Gas Pipeline Agreement By The Media Line Staff West African leaders signed the Intergovernmental Agreement for the $25 billion Nigeria-Morocco Atlantic Gas Pipeline during the Economic Community of West African States (ECOWAS) summit in Freetown,
WASHINGTON (AP) — A federal appeals court has rejected a request by Joe Biden to block the release of audio recordings and transcripts of his interviews with a memoir ghostwriter before he was elected president. A divided three-judge panel from the U.S. Court of Appeals for the District of Columbia
WASHINGTON, July 21 (Reuters) – U.S. Treasury Secretary Scott Bessent said on Tuesday that the 50% tariffs on a range of imports from Canada were “reciprocity” for trade actions by Ottawa on U.S. dairy, alcohol and beverages. U.S. President Donald Trump on Monday announced tariffs on nearly $20 bill
July 21 (Reuters) – Brokerage firm Charles Schwab posted a record second-quarter profit on Tuesday, driven by robust trading activity and increased asset management fees. The U.S.-Israeli war against Iran fueled volatility in the April-June quarter, forcing investors to recalibrate their portfolios
By Tim Hepher and David Shepardson FARNBOROUGH, England, July 21 (Reuters) – Boeing has asked the U.S. government to press the European Union for transparency over a €3 billion ($3.43 billion) loan package to Airbus, resurfacing potential trade tensions after the two sides extended a tariff truce ov
July 21(Reuters) – Auto parts distributor Genuine Parts lowered its full-year profit outlook on Tuesday, as rising costs and a tougher consumer environment weighed on its expectations. Geopolitical tensions in the Middle East have compounded challenges for the automotive sector by pushing up fuel pr
July 21 (Reuters) – MSCI raised its full-year operating expense forecast on Tuesday, citing acquisition-related costs, higher employee incentives and increased investment spending, sending the index provider’s shares down more than 7% despite better-than-expected quarterly results. The company said
By Marcela Ayres BRASILIA, July 21 (Reuters) – Brazil’s Pix, one of the world’s most successful instant-payment systems, has become a flashpoint between Brasília and Washington as the Trump administration aims to protect U.S. firms from the model’s growing appeal in dozens of countries. U.S. Trade R
