By Saqib Iqbal Ahmed NEW YORK, July 23 (Reuters) – Short sellers targeting SpaceX shares are sitting on an estimated $15.5 billion in paper profit since the rockets-to-AI firm’s mid-June initial public offering, as its stock slipped below the IPO price, according to data through Tuesday from analyti
By Max A. Cherney and Stephen Nellis SAN FRANCISCO, July 23 (Reuters) – Advanced Micro Devices is set to launch a raft of AI hardware that will rival Nvidia on Thursday at an event at a downtown convention center in San Francisco. AMD is attempting to capture market share from Nvidia in the fast-gro
By Nicholas P. Brown and Juveria Tabassum NEW YORK, July 23 (Reuters) – Bill Peterson used to go to Whole Foods or Kroger for fruits, vegetables and milk. Now he swears by private-label chain Aldi, which sells those items at a fraction of the price. The Chicago home remodeler is gainfully employed,
By Laura Matthews NEW YORK, July 23 (Reuters) – Some U.S. investors who once relied on bonds to cushion equity selloffs are making more room for commodities, infrastructure, private credit and other inflation-sensitive assets to protect themselves against inflation. Inflation, heavy government borro
By Greg Bensinger and Dawn Chmielewski SAN FRANCISCO, July 23 (Reuters) – Jeff Bezos has identified a new, high-profile platform to help showcase the hundreds of billions of dollars Amazon has bet on artificial intelligence: Prime Video. The Amazon founder and executive chairman pushed Prime Video h
By Howard Schneider WASHINGTON, July 23 (Reuters) – Federal Reserve Chairman Kevin Warsh may hope to stay mum about the Fed’s rate plans, but fresh oil and potential tariff shocks and a hawkish tilt among his colleagues are likely to test that resolve when U.S. central bankers gather next week. The
WASHINGTON, July 23 (Reuters) – Democratic Senator Elizabeth Warren accused major AI companies of pushing the Trump administration to limit AI transparency rules in North America’s trade pact, arguing instead that regulators should have broader access to information about the companies’ models. Warr
By Mike Stone and Aishwarya Jain July 23 (Reuters) – RTX raised its 2026 sales and profit forecasts on Thursday, betting on sustained demand for commercial aircraft maintenance and military systems, as airlines keep older jets flying and governments replenish weapons stockpiles. The Arlington, Virgi
Before the war in Iran, roughly 15 million barrels of Persian Gulf oil were shipped each day through the Strait of Hormuz. Within a few years, much of that oil could bypass the strait. As Iran’s chokehold over the strait drags on and oil prices surge, countries across the Gulf are planning to spend
The Ukrainian attacks on the sprawling Russian warehouses produced stark images, with massive pillars of black smoke rising above fires that raged at facilities for Wildberries, the country’s biggest online retailer and its equivalent of Amazon. Kyiv’s drones first hit the sites over the weekend in
ZURICH, July 23 (Reuters) – Swiss skincare firm Galderma on Thursday reported a 24.6% jump in sales in the first half of 2026 and nudged up its full-year guidance, even as it flagged a potentially challenging second-half environment. First-half sales rose to $3.13 billion, driven by double-digit gro
July 23 (Reuters) – BMW is recalling 318,495 U.S. vehicles as an engine starter may overheat and catch fire, the National Highway Traffic Safety Administration (NHTSA) said on Thursday. The recall affects certain models including Toyota Supra, 4 Series Convertible, 4 Series Coupe, 3 Series, X4, and
BANGKOK (AP) — Asian shares were mostly higher on Thursday, while the intensifying war with Iran pushed Brent crude past $97 a barrel. U.S. futures declined. South Korea’s Kospi rose 4.4% to 7,096.89 as investors’ appetite for stocks related to artificial intelligence revived despite a retreat on Wa
July 23 (Reuters) – The U.S. Food and Drug Administration said on Wednesday that Midwest Poultry Services is recalling nearly 1.6 million dozen white shell eggs and brown cage-free shell eggs produced in Texas, as they have the potential to be contaminated with Salmonella Enteritidis. The recalled e
ZURICH, July 23 (Reuters) – Nestle said on Thursday it expects to raise around €3 billion ($3.43 billion) from spinning off its water business into a 50-50 joint venture with U.S. investment firm Platinum Equity. The new company, to be called Peranel, will include the Source Perrier, S.Pellegrino an
PARIS, July 23 (Reuters) – Renault reported a slight drop in sales volumes for the first half of the year on Thursday, as rising competition in its key European market from new Chinese rivals curbed growth at some of its brands. The French automaker, whose sales volumes dipped 3.3% in the first quar
By Heekyong Yang and Heejin Kim SEOUL, July 23 (Reuters) – Hyundai Motor reported a 21% fall in second-quarter operating profit on Thursday, missing analysts’ estimates, as weaker vehicle sales, production disruptions, and higher costs offset support from a weaker won. The weaker results highlight m
LONDON, July 23 (Reuters) – Nestle on Thursday posted slightly better than expected second-quarter organic sales growth and said it expects to raise around 3 billion euros ($3.43 billion) from a joint venture with investment firm Platinum Equity for its waters and premium beverages business. The wor
By Byron Kaye SYDNEY, July 23 (Reuters) – While Greg Ward was building Macquarie Group’s mortgage book to the fifth-biggest in Australia, he was also cutting a figure as a respectable Porsche racer, with few wins but — more importantly, say motoring experts — few serious mishaps. Ward was named the
July 23 (Reuters) – Domino’s Pizza Enterprises said on Thursday it was considering an appeal after the Federal Court found the company made misleading representations about the application of certain enterprise agreements. Here are the details: • A former worker commenced the proceeding as lead appl
SYDNEY, July 23 (Reuters) – Australia’s top investment bank Macquarie Group has appointed long-time insider Greg Ward to succeed CEO Shemara Wikramanayake, a choice investors said represented a “safe pair of hands” and confidence in the bank’s current direction. JAMIE HANNAH, CHIEF INVESTMENT OFFICE
By Ankur Banerjee SINGAPORE, July 23 (Reuters) – Asian stocks rose on Thursday after U.S. technology firms outlined significant capital spending plans that are likely to benefit chipmakers in the region, while the escalating war in the Middle East sent oil prices to six-week highs. Rising oil prices
By Akash Sriram and Chris Kirkham July 22 (Reuters) – Tesla CEO Elon Musk on Wednesday left the door open to the EV maker merging with his other trillion-dollar-plus-valued firm SpaceX, declining to dismiss the possibility and citing growing overlap between the companies. “As you can tell from the m
By Satoshi Sugiyama TOKYO, July 23 (Reuters) – The dollar largely stabilised on Thursday as renewed U.S.-Iran tensions kept investors on edge and underpinned demand for the safe-haven currency, while the yen languished near a 40-year low with little sign of a turnaround. The dollar index, which meas
By Arathy Somasekhar and Trixie Yap July 23 (Reuters) – Oil prices rose more than 1.5% in Asian trade on Thursday to stand at their highest in more than six weeks, as Yemen’s Houthis targeted oil tankers in the Red Sea and the United States launched a new round of strikes on Iran. Brent crude future
VANCOUVER, British Columbia (AP) — The U.S. threat of 50% tariffs on Canadian goods will have a ripple effect on the country’s economy but also could be a negotiation tactic by the U.S. administration, experts say. The new tariffs, announced by U.S. President Donald Trump on Monday, are scheduled to
By David Lawder and Emily Green July 22 (Reuters) – U.S. Trade Representative Jamieson Greer said on Wednesday he hoped to strike some interim trade deals with Mexico and Canada this year while tackling thornier changes to the U.S.-Mexico-Canada Agreement in 2027, his strongest signal yet that the p
WASHINGTON (AP) — The House approved legislation Wednesday that would bar members of Congress from purchasing individual stocks, advancing an ethics proposal that lawmakers in both parties have long championed but repeatedly failed to enact. Some Democrats sided with the Republican majority in the 2
SAN FRANCISCO, July 22 (Reuters) – Nvidia and the Naval Postgraduate School (NPS) on Wednesday said that the AI chip leader has donated a supercomputer with its latest chips to a nonprofit linked to the institution. The NPS is operated by the U.S. Navy and offers masters and doctoral degrees in fiel
By Scott Murdoch and Christine Chen SYDNEY, July 23 (Reuters) – Australia’s top investment bank Macquarie Group on Thursday appointed long-serving executive Greg Ward to replace retiring CEO Shemara Wikramanayake, a decision investors said showed confidence in the bank’s strategy after criticism ove
