By Lucia Mutikani WASHINGTON, Oct 13 (Reuters) – US existing home sales unexpectedly increased in September, but the trend stayed subdued against the backdrop of rising mortgage rates and still higher prices, which have made the dream of owning a house unattainable for many young Americans. The rise
By Alex Lawler and Olesya Astakhova LONDON, Oct 13 – Oil producer group OPEC+ posted a sharp gain in production in September, OPEC said on Tuesday, driven by an increase from Saudi Arabia despite ongoing disruptions to shipments through the Strait of Hormuz caused by the Iran war. OPEC+, which inclu
By Tatiana Bautzer and Prakhar Srivastava Oct 13 (Reuters) – Citigroup beat Wall Street estimates for third-quarter profit on Tuesday, helped by stronger investment banking revenue and transactions with multinational companies as well as higher earnings from wealth management. Trading profits gained
Oct 13 (Reuters) – US online gambling operator BetMGM on Tuesday reported a 7% rise in third-quarter revenue, driven by strong betting during the World Cup and a revamped sportsbook ahead of the NFL season. • Shares of Ladbrokes-owner Entain rose 4% after the update from BetMGM, a joint venture betw
By Saeed Azhar and Pritam Biswas Oct 13 (Reuters) – Goldman Sachs on Tuesday posted a higher third-quarter profit, as dealmaking remained steady and volatile markets tied to the Middle East conflict boosted equities revenue, sending its shares up 3.4% before the bell. US equity markets were volatile
By Rachel More and Giulio Piovaccari PARIS, Oct 13 (Reuters) – European automakers urged policymakers on Tuesday to do more to help them cope with Chinese competition and the shift to electric vehicles, as a drop in third-quarter deliveries at BMW and Stellantis underscored the pressure on the indus
By Natalia Siniawski, Diego Oré and Kylie Madry MEXICO CITY, Oct 13 (Reuters) – Mexico’s antitrust authority is set to approve the planned merger between low-cost carriers Volaris and Viva Aerobus before the end of this year, according to six sources familiar with the matter, likely creating the nat
Oct 13 (Reuters) – Wells Fargo posted an increase in third-quarter profit on Tuesday, helped by growth in its loan book and higher interest income. The fourth-largest US lender reported net income of $5.95 billion, or $1.87 per share, for the three months ended September 30, compared with $5.59 bill
By Manya Saini and Nupur Anand Oct 13 (Reuters) – JPMorgan Chase fell short of quarterly profit estimates for the first time in nearly three years as market volatility and an uncertain economic outlook dampened dealmaking and reduced bond market trading activity in recent months. Wall Street’s dealm
By Svea Herbst-Bayliss, Saeed Azhar and Milana Vinn NEW YORK, Oct 13 (Reuters) – Bank of America’s top leaders had a problem in the first week of August. Veteran banker Amy Lissauer — one of the company’s most senior female executives — was considering jumping to rival JPMorgan Chase, people familia
Oct 13 (Reuters) – BMW reported on Tuesday a year-on-year 6.3% decline in global vehicle deliveries in the third quarter, as sales in China fell by a quarter. The group, which includes Mini alongside the BMW brand, is the latest German carmaker to post lower quarterly deliveries as intensifying comp
By Summer Zhen and Tom Westbrook HONG KONG, Oct 13 (Reuters) – Hedge funds are drawing in new fans and a rush of capital from Asia, as pensions, family offices and other investors look to alternative managers to help them navigate volatile debt markets and wobbly equities. Private bankers and asset
SINGAPORE, Oct 13 (Reuters) – The BlackRock Investment Institute said it had downgraded its view on US stocks to neutral, citing volatility around AI, and upgraded Treasuries, preferring short-term notes. The move by the research arm of the world’s biggest asset manager is a notable signal of cautio
Oct 13 (Reuters) – Franco-Italian automaker Stellantis said on Tuesday its global third-quarter shipments fell 1% from a year ago to an estimated 1.3 million vehicles, hit by a summer production shutdown in North America. Stellantis is launching six new vehicles and unveiling nine concept cars at th
Oct 13 (Reuters) – Anthropic said on Monday its experiments suggested small AI models may be months away from being capable enough to self-replicate on commercial internet-of-things (IoT) devices, such as smart ovens and off-brand Android TV boxes. • In its experiments, Anthropic looked at whether A
Oct 13 (Reuters) – A look at the day ahead in European and global markets from Ankur Banerjee A steep rout in AI stocks on signs that China is swiftly closing the tech gap has cast a shadow over markets and brought to the fore the fragility of the AI trade as investors remain concerned about the dur
Oct 13 (Reuters) – US payments firm Visa has received approval from China’s central bank to begin preparations for a domestic bank card clearing institution in the country, ending years of waiting to tap into one of the world’s largest payment markets. The move marks a major step for Visa to join ri
By Pete Schroeder and Selena Li BANGKOK/WASHINGTON, Oct 13 (Reuters) – The International Monetary Fund warned on Tuesday against “complacency” in global financial markets, citing risks from an artificial intelligence-driven selloff, rising government bond yields, or cyberattacks as potential threats
NEW YORK, Oct 12 (Reuters) – The International Monetary Fund trimmed its growth forecasts for Latin America and the Caribbean for this year and next and said most of the region was getting little lift from the artificial intelligence boom that has helped other economies absorb the energy shock from
By Yantoultra Ngui HONG KONG, Oct 13 (Reuters) – Tencent Holdings is selling US dollar and offshore Chinese yuan, or dim sum, bonds in a deal that could raise at least $4.5 billion as the Chinese technology giant seeks funding amid higher spending on artificial intelligence. The sale comprises 10-ye
BEIJING, Oct 13 (Reuters) – Nvidia’s share of China’s market for data-centre AI chips fell to 34% in the first half of 2026, as US export controls restricted supplies of its products and domestic rivals led by Huawei gained ground, according to an IDC report seen by Reuters. Nvidia shipped 678,000 A
By Ankur Banerjee SINGAPORE, Oct 13 (Reuters) – Asian stocks slid to a more than two-month low on Tuesday as a sharp selloff in chipmakers prompted a broader rethink of the AI trade amid heightened competition, driving investors toward the safety of government bonds. MSCI’s broadest index of Asia-Pa
By Gregor Stuart Hunter SINGAPORE, Oct 13 (Reuters) – The dollar retreated in Asian trade on Tuesday after a holiday in some US markets, while bond yields and oil prices eased, accompanied by a slide in global stocks. The US dollar index of the greenback’s strength against a basket of six currencies
By Anjana Anil and Trixie Yap Oct 12 (Reuters) – Oil prices fell on Tuesday and were on track for their first decline in nearly a week, as traders assessed supply risks from attacks on Saudi Arabia while weighing the prospect of additional diesel supplies from Russia. Brent crude futures fell $1.30,
Oct 12 (Reuters) – The New York Times, Agence France-Presse and The Economist on Monday joined more than 40 publishers in a coalition aimed at preventing AI firms from using or profiting from their content without permission. The Standards for Publisher Usage Rights (SPUR) coalition, launched in Feb
By Howard Schneider CLEVELAND, Oct 12 (Reuters) – Cleveland Federal Reserve President Beth Hammack said on Monday she hopes the Fed can lower inflation without damaging the job market, but that may entail cooling the blistering pace of corporate investment or the market-driven wealth gains fueling p
By Jamie McGeever ORLANDO, Florida, Oct 12 (Reuters) – Oil and fuel prices rose on Monday following weekend attacks on a Saudi airport, which had a varied impact on global stocks. Asia shares mostly fell, Europe shares rose, and Wall Street was mixed. The dollar continued its recent rally and hit an
Oct 12 (Reuters) – Kroger plans to cut roughly 3,000 corporate roles over the next three years, CEO Greg Foran told staff in a memo, seen by Reuters on Monday, as the grocer integrates AI into its workflow. Kroger should reduce duplicative work and adapt with technology, Foran wrote in the memo, add
By Dawn Kopecki NEW YORK, Oct 12 (Reuters) – Elon Musk has spent roughly $366 million in the 2026 US midterm election cycle so far, $276 million of it since July to help Republicans retain control of Congress, even as Democrats’ chances of retaking the US House and Senate have improved. Musk’s large
By Tassilo Hummel and Alessandro Parodi PARIS, Oct 12 (Reuters) – Luxury bellwether LVMH on Monday reported weaker-than-expected third-quarter sales as a sharp deterioration in Chinese consumer mood hit demand for its flagship brands Louis Vuitton and Dior. The trading update from the world’s larges
