By Iain Withers FARNBOROUGH, England, July 20 (Reuters) – Private investors are needed to funnel cash into European defence companies to plug the gap left by cash-strapped governments, but too often bottlenecks and barriers are discouraging investment, senior finance executives told the Farnborough
By Michael S. Derby July 20 (Reuters) – Americans’ application rate for new credit over the last year hit its highest level in nearly five years in June, new data from the Federal Reserve Bank of New York released Monday said. The bank said that the rate of applying for new credit of any type was at
By Jonathan Stempel July 20 (Reuters) – A federal appeals court on Monday decertified a shareholder class action accusing Boeing of prioritizing profit over safety and overstating its commitment to safe aircraft, prior to the January 2024 mid-air cabin panel blowout on an Alaska Airlines 737 MAX 9.
July 20 (Reuters) – Google is developing a new server chip that would incorporate elements of its Gemini model directly into the hardware, in a bid to serve its AI models more efficiently to users, the Information reported on Monday, citing people familiar with the matter. The Alphabet-owned company
By Tim Hepher and Shivansh Tiwary FARNBOROUGH, England, July 20 (Reuters) – GE Aerospace has carried out the world’s first high-altitude flight assisted by hybrid-electric propulsion, it said on Monday, part of an arsenal of technologies for future jet engines being showcased at this year’s Farnboro
July 20 (Reuters) – Wall Street’s main indexes opened higher on Monday, as chip stocks recovered from last week’s pullback and investors awaited a key slate of earnings from major technology companies that have powered the market’s AI-driven rally. The Dow Jones Industrial Average rose 8.2 points, o
THE HAGUE, Netherlands (AP) — The European Commission on Monday fined Chinese online marketplace AliExpress 550 million euros ($629 million) for failing to adequately crack down on the sale of unsafe and counterfeit products on its site. The fine, the biggest ever imposed for breaches of the 27-nati
FARNBOROUGH, England, July 20 (Reuters) – Philippine Airlines confirmed 15 firm orders for Boeing 787-10s on Monday, with purchase rights for another five of the widebody jetliners. If the airline buys all 20, the deal is worth about $3.4 billion, based on estimated prices after discounts, according
By Alexander Marrow and Lisa Jucca LONDON, July 20 (Reuters) – Coty’s $400 million deal to exit its flagship Gucci Beauty licence a year early will cost it a big chunk of near-term earnings, but could prove a turning point for the struggling beauty brand under interim CEO Markus Strobel. The decisio
PARIS (AP) — French lawmakers are racing against the clock to reach a compromise that would allow a bill banning social media for children under 15 to possibly enter into force at the start of the new school year in September. With Parliament’s summer recess looming, time is running out. Seven membe
(Refiles to capitalize subhead) By Pragyan Kalita July 20 (Reuters) – Permira-backed womenswear retailer Reformation is targeting a valuation of up to $1 billion in its U.S. initial public offering, marking a rare public-market foray for a fashion brand in recent years. The Vernon, California-based
By Joanna Plucinska and Conor Humphries FARNBOROUGH/DUBLIN, July 20 (Reuters) – Airline executives on Monday cautioned planemakers Boeing and Airbus not to rush out a new generation of commercial jets without ensuring their technology is mature enough. “I’m not keen to see a new narrow body in a 203
July 20 (Reuters) – LXP Industrial Trust will be taken private by Brookfield Asset Management and Canada Pension Plan Investment Board in a $5.2 billion all-cash deal, the industrial real estate investment trust said on Monday. Shares of LXP were up 4% in premarket trading. The acquisition highlight
By Shivansh Tiwary and David Shepardson FARNBOROUGH, England, July 20 (Reuters) – Archer Aviation and defense technology company Anduril unveiled a co-developed autonomous aircraft platform on Monday, as aerospace startups increasingly tap partnerships that can lower development costs and speed up c
By Anuja Bharat Mistry and Shania S Thomas July 20 (Reuters) – Domino’s Pizza’s quarterly revenue edged past Wall Street estimates on Monday as growth in its supply-chain business offset softer demand at its restaurants, where cautious consumers curbed discretionary spending. Shares of the company,
By Samuel Shen and Kane Wu SHANGHAI/HONG KONG, July 20 (Reuters) – Chinese startup Moonshot AI has temporarily paused new subscriptions after demand for its newly launched Kimi K3 model strained capacity, a bottleneck that comes as the company seeks fresh funding and prepares for a potential Hong Ko
FRANKFURT, July 20 (Reuters) – Euro zone firms expect selling prices to rise more moderately and see a slowdown in wage growth, an ECB survey showed on Monday, adding to evidence that a recent energy-driven inflation surge has yet to generate second-round price impacts. Inflation is hovering near 3%
July 20 (Reuters) – Honeywell Aerospace said on Monday that Indian airline IndiGo had selected its avionics and power systems for 810 Airbus A320neo-family aircraft, while Aeromexico plans to deploy runway safety technology from the aerospace company across more than 100 Boeing jets. In separate sta
SYDNEY, July 20 (Reuters) – KPMG Australia said on Monday it imposed penalties of up to A$180,000 ($125,838) on a group of staff after an internal probe into an audit leak scandal confirmed the “unacceptable” misuse of confidential client information. Seven people have been sanctioned, with conseque
SEOUL, July 20 (Reuters) – Lee Seung-ho watched the nearly 300 million won ($202,515) stock trading fortune he built with a 500% margin loan evaporate in just four weeks in May, but he plans to borrow again and return to the market the moment he has enough capital. The 24-year-old South Korean unive
SINGAPORE, July 20 (Reuters) – China’s exports of strategically important, controlled rare earths and minerals to Japan were tiny again in June, extending the raw material fallout of a diplomatic spat between the two nations. China sent no gallium, dysprosium, terbium or yttrium to Japan last month,
HONG KONG (AP) — Asian shares were mostly lower on Monday and South Korea’s Kospi fell 4.5% as investors unloaded more stocks linked to artificial intelligence. Japan’s markets were closed Monday for a holiday. U.S. futures edged lower. Oil prices jumped as the U.S. and Iran moved closer to resuming
By Joe Brock FARNBOROUGH, England, July 20 (Reuters) – Lockheed Martin announced a lower-cost Patriot interceptor on Monday as militaries seek cheaper ways to counter drones and missiles, while defense contractors face competition from startups making low-cost weapons that can be produced at scale.
RAMALLAH, West Bank (AP) — Picture this: A gas station customer pulls out a wad of bills to pay for a fill-up. The cashier refuses the money, explaining that the station’s bank has stopped accepting notes and coins as deposits because it already is drowning in cash. In most places, cash is king. But
LONDON (AP) — The moment for Andy Burnham has finally come. After weeks as U.K. prime minister-in-waiting, Burnham will take office on Monday, succeeding the departing Keir Starmer, and Britain’s political turbulence will give way, at least temporarily, to smooth choreography. Burnham will become th
Defaults on student loans have surged across the United States, reaching record levels as borrowers struggle to keep up with payments. The numbers have spiked since payments came due again following a lengthy pause intended to provide relief during the COVID-19 pandemic. Today, around 9.5 million pe
Life after college did not go as Ashley Dreahn planned. After starting out as a teacher, she went back to school — and took out more loans — in hopes of landing a higher-paying job in the chemical processing industry. It never materialized, and then came Hurricane Harvey, a job loss and a car breakd
DUBAI, United Arab Emirates (AP) — The United States conducted a new round of airstrikes early Monday targeting Iran after announcing the death of another American service member, hitting around a northwestern city believed to be home to underground missile bases. Iran responded by launching an atta
By Conor Humphries DUBLIN, July 20 (Reuters) – Ryanair’s profit slumped by a third on higher fuel costs and weaker fares in the three months to the end of June, the airline said on Monday, while summer fares looked set to fall amid consumer nervousness around the Iran war and broader economy. The we
By Aditi Shah NEW DELHI, July 20 (Reuters) – For some 40 years, Suzuki cars dominated India’s roads. The Japanese company’s relentless focus on keeping prices and running costs low put millions of people behind the wheel. Hatchbacks made by its Indian arm Maruti Suzuki commanded between half and fou
