(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
By Daniel Wiessner July 22 (Reuters) – A novel lawsuit claiming that Meta Platforms relied on discriminatory AI tools to select employees for layoffs highlights the problems workers face in suing employers over the new technology, including proving how it was actually used. The case helps illustrate
By Luciana Magalhaes SAO PAULO, July 22 (Reuters) – A new 25% U.S. tariff will hit a range of Brazilian goods on Wednesday, including farm machinery, wood products, ethanol and apparel, escalating tensions in an already strained relationship between the two most populous countries in the Western Hem
By Raphael Satter WASHINGTON, July 22 (Reuters) – U.S. Secretary of State Marco Rubio has asked diplomats to push back against talk of a “kill switch” in American technology products following the White House’s short-lived decision to keep foreigners from America’s most advanced AI models, according
By Sarah Young FARNBOROUGH, England, July 22 (Reuters) – BAE Systems revealed a new unmanned fighter jet on Wednesday, boosting Britain’s entry into one of the defence industry’s hottest and most fiercely contested markets. The UK’s biggest defence company showcased a model of its new jet, Brontanax
By Promit Mukherjee, Emily Green and David Lawder OTTAWA/MEXICO CITY, July 22 (Reuters) – Separate U.S. negotiating tracks for Canada and Mexico are testing a trilateral free trade zone that has defined North America’s economy for 32 years, with the U.S. potentially forcing concessions on Canada tha
By Douglas Gillison WASHINGTON, July 22 (Reuters) – The U.S. Federal Deposit Insurance Corporation over the past 18 months has disciplined eight employees, including forcing out a senior manager, after officials determined that allegations of sexual harassment against them were credible and merited
July 22 (Reuters) – U.S. stock index futures dipped on Wednesday, pressured by weakness in chip stocks, as investors remained cautious ahead of the first batch of Big Tech earnings that could decide whether Wall Street’s AI-driven rally has more room to run. After months of gains that pulled the maj
By Marleen Kaesebier ZURICH, July 22 (Reuters) – Swiss generic drugmaker Sandoz said on Wednesday it would continue discussions with policymakers after U.S. President Donald Trump threatened the industry with steep tariffs unless drugmakers manufacture medicines domestically. Trump said in a post on
By Leika Kihara Tokyo, July 22 (Reuters) – The Bank of Japan remains on alert to upside inflation risks that could lead to faster interest rate hikes than markets project, said three sources familiar with its thinking. Many central bank policymakers believe the pace and timing of rate hikes cannot b
July 22 (Reuters) – Airbus shares jumped more than 5% on Wednesday after the European planemaker launched a €5 billion ($5.7 billion) share buyback programme and unveiled new mid-term targets including a near doubling of profits by 2029. Airbus said late on Tuesday it was targeting a core profit of
TOKYO (AP) — Global shares were trading mixed Wednesday following a rally on Wall Street, despite concerns about higher oil prices and inflation. France’s CAC 40 edged up 0.6% in early trading to 8,410.68, while the German DAX rose 0.4% to 25,106.51. Britain’s FTSE 100 gained 0.8% to 10,666.51. U.S.
By Gregor Stuart Hunter SINGAPORE, July 22 (Reuters) – Stocks made lumpy gains on Wednesday as the boost from a strong Wall Street session was capped by caution ahead of earnings reports from Big Tech while threats from Houthi rebels to expand the Middle East conflict pushed up oil prices. MSCI’s br
LONDON (AP) — U.K. Prime Minister Andy Burnham’s announcements during his first 24 hours on the job underscore the political and financial challenges he faces as he tries to jump-start the country’s sluggish economy. Burnham, from Britain’s left-leaning Labour Party, faces restive voters seeking rel
By Cassell Bryan-Low FARNBOROUGH, England, July 22 (Reuters) – Boeing flexed its muscle in the race to build autonomous fighter aircraft at the Farnborough Airshow, displaying its Ghost Bat drone, as rivals pitched competing designs for what could become a new multibillion-dollar defence market. Whi
A look at the day ahead in European and global markets from Gregor Stuart Hunter The AI trade is roaring back on Wednesday as export demand surges across Asia, lifting chipmaker stocks and pushing the regional benchmark to its highest in a week. MSCI’s broadest index of Asia-Pacific shares outside J
SEOUL, July 22 (Reuters) – South Korea’s Industry Minister Kim Jung-kwan headed to Washington on Wednesday for talks with senior U.S. officials on trade and investment cooperation, as Seoul braces for a U.S. announcement of additional tariffs under Section 301 of the Trade Act. The visit precedes an
By Jonathan Stempel July 21 (Reuters) – News Corp, facing a lawsuit by search engine Brave Software, has filed a countersuit accusing it of “flagrant theft” in distributing and selling versions of articles from the Wall Street Journal and New York Post to AI companies. Brave had last year preemptive
