(Refiles to fix dateline) By Alexander Marrow and Anuja Bharat Mistry Oct 7 (Reuters) – PepsiCo is running out of time to deliver on the growth and margin targets it set out after activist investor Elliott Investment Management took a roughly $4 billion stake a year ago, as the threat of GLP-1 weigh
Oct 7 (Reuters) – United Parcel Service on Wednesday said it would hire 100,000 seasonal employees across the US ahead of the holiday season, about 9% fewer than 2025 and marking the second straight year of reduced recruitment. The decrease comes after UPS trimmed its permanent workforce and as infl
By Tharuniyaa Lakshmi and Shashwat Chauhan Oct 7 (Reuters) – Wall Street’s main indexes were set for a lower open on Wednesday as Treasury yields and oil prices rose again, keeping investors cautious as they awaited the minutes of the Federal Reserve’s September meeting. The tech-heavy Nasdaq and th
By Howard Schneider WASHINGTON, Oct 7 (Reuters) – A readout on Wednesday of the Federal Reserve’s last policy meeting is expected to show a much broader debate than reflected in the unanimous decision to raise interest rates, with possible implications for the US central bank’s next policy steps. Th
LONDON, Oct 7 (Reuters) – The US 30-year bond yield hit a fresh 24 year high on Wednesday, as a selloff in world bond markets resumed a day after getting some respite from worries over higher inflation and government debt loads. The 30-year yield briefly touched 5.7041% ahead of the release of the F
Oct 7 (Reuters) – German luxury carmaker Mercedes-Benz said on Wednesday sales in its core car business continued to fall in the third quarter, declining 8% year-on-year due to challenging market conditions in China. • Car deliveries fell to 407,200 units in the July-September period, the company sa
By Alun John, Harry Robertson and Sara Rossi LONDON/MILAN, Oct 7 (Reuters) – Traders have turned more discerning following a bond market rout, dumping the debt of European countries they deem the riskiest and rushing to safe-haven Germany. The moves highlight a new hierarchy in the ever-evolving ran
SINGAPORE, Oct 7 (Reuters) – The world’s rich view rising rates and yields as the biggest threat to global economic growth, while a large majority expect Asia to be the most stable geopolitical region for the next 12 months, according to a Deutsche Bank poll on Wednesday. Here are some details: • Th
By Rae Wee SINGAPORE, Oct 7 (Reuters) – The global economy is under threat from persistently high energy prices, record public debt and risks from the AI investment boom, International Monetary Fund Managing Director Kristalina Georgieva warned on Wednesday, urging governments to implement protectiv
By Rachel More and Ilona Wissenbach BERLIN/FRANKFURT, Oct 7 (Reuters) – Porsche is steeling itself for persistently lower sales, the Volkswagen brand said on Wednesday, pitching a turnaround plan to investors that aims to boost margins with a focus on top-end models. The sports car maker, which, lik
Oct 7 (Reuters) – Tesla and SpaceX CEO Elon Musk said on Wednesday that his companies will build and run the Terafab AI chip complex, with TSMC possibly subleasing a part of it. Here are more details: • Terafab is a planned Tesla-SpaceX project in Texas that aims to build “a gigantic chip fab” to ma
TOKYO, Oct 7 (Reuters) – Blackstone-backed AirTrunk said on Wednesday it was investing an additional $1 billion in its 300-plus-megawatt hyperscale data centre campus in the eastern Japanese city of Inzai to enable AI workloads. • Investment is for liquid-cooling technology deployment to enable AI w
By Phoebe Seers and Iain Withers LONDON, Oct 7 (Reuters) – A hedge fund industry group has warned the Bank of England that proposed reforms to the market for short-term loans secured against UK government bonds, known as “repo”, could backfire and reduce liquidity at times of market stress. Industry
A look at the day ahead in European and global markets from Rocky Swift Wall Street indexes scaled new heights overnight on earnings optimism, but the buzz fizzled out in Asia as oil prices climbed again following attacks by Yemen’s Iran-backed Houthis on Saudi Arabia. To end a war that’s roiled ene
SEOUL, Oct 7 (Reuters) – Boston Dynamics, a humanoid robot maker owned by Hyundai Motor Group, said it had appointed Rohit Prasad as chief executive officer, effective October 7. • Prasad previously served as senior vice president and head scientist for Alexa and Artificial General Intelligence at A
By Scott Murdoch and Gregor Stuart Hunter SYDNEY, Oct 7 (Reuters) – Asian markets were slightly weaker on Wednesday as investor confidence showed signs of flagging, while oil prices rose due to a storm threat in the Gulf of Mexico and escalating Saudi-Houthi tensions. In Asia, MSCI’s broadest index
By Rocky Swift TOKYO, Oct 7 (Reuters) – The US dollar recouped some losses on Wednesday as eyes turned to the release of Federal Reserve minutes and speeches by its policymakers for signals on a potential rate hike. The euro gave back some of its gains in the prior session when French bonds rallied
By Francesco Guarascio and Phuong Nguyen HANOI, Oct 7 (Reuters) – Vietnamese banks are planning nearly $7 billion in share sales as the country’s fast-growing economy fuels demand for capital, opening a window for foreign investors to expand in the tightly controlled sector. Communist-run Vietnam, w
By Jeslyn Lerh SINGAPORE, Oct 7 (Reuters) – Oil prices climbed on Wednesday as the market weighed supply constraints from a storm heading for US oil-producing regions and attacks by Yemen’s Iran-backed Houthis on Saudi Arabia against increased supplies of Middle East crude. Brent futures rose 81 cen
By David Shepardson WASHINGTON, Oct 6 (Reuters) – The Federal Aviation Administration said on Tuesday it is proposing to streamline regulations for commercial space launches and re-entries. The moves include allowing operators to submit launch applications electronically, offering greater flexibilit
By Jonathan Stempel NEW YORK, Oct 6 (Reuters) – A federal judge on Tuesday allowed a US fund to seek payment records from the Federal Reserve Bank of New York and the Clearing House Interbank Payments System, as it pursues a criminal complaint of fraud and money laundering against iron ore trader Ra
NEW YORK, Oct 6 (Reuters) – Kenneth Leech, the former star bond manager who pleaded guilty to obstructing a US Securities and Exchange Commission probe into alleged “cherry-picking,” will pay a $3 million fine to settle the regulator’s related civil case, the SEC said on Tuesday. • Leech’s fine is i
Oct 6 (Reuters) – Constellation Brands beat second-quarter estimates for profit and sales on Tuesday, as resilient demand for its beer such as Modelo Especial and Victoria helped offset challenges facing the alcohol industry in a soft spending environment. The company also said it has bought SpikedA
By Jamie McGeever ORLANDO, Florida, Oct 6 (Reuters) – The S&P 500 and Nasdaq hit record highs on Tuesday as a pause in the bond market sell-off and steady oil prices paved the way for a tech- and AI-led wave of buying, with investors entering the third-quarter earnings season with a great sense of o
By Scott DiSavino NEW YORK, Oct 6 (Reuters) – Oil prices were little changed on Tuesday after recovering earlier losses, as the market weighed increases in Middle Eastern crude exports and a planned Group of Seven release of emergency diesel and crude stockpiles against supply concerns related to at
WASHINGTON, Oct 6 (Reuters) – Hedge funds have more than tripled in size in the last decade and now play increasingly critical market roles, the International Monetary Fund said Tuesday, while warning that the funds’ use of leverage and overall opacity can inject risks into the financial system. The
Pakistan, Turkey Agree To Rapid Deployment in Saudi Arabia Under Mecca Defence Agreement By The Media Line Staff Pakistan, Saudi Arabia and Turkey agreed to begin the “rapid deployment” of military forces and capabilities under the Mecca Joint Defence Agreement as Saudi Arabia escalates operations a
By Scott DiSavino NEW YORK, Oct 6 (Reuters) – US power consumption will rise to record highs in 2026 and 2027, driven by AI-hungry data centers and electrification, the US Energy Information Administration said in its Short-Term Energy Outlook (STEO) on Tuesday. The EIA projected that power demand w
By Robert Harvey, Stephanie Kelly and Shadia Nasralla LONDON, Oct 6 (Reuters) – The amount of oil in storage that is accessible to the global market is running low, industry executives said at a forum in London this week, making the market more fragile and putting upward pressure on prices. Governme
Oct 6 (Reuters) – San Francisco Federal Reserve President Mary Daly on Tuesday said she supported September’s interest-rate hike in the face of rising inflation risks, but feels that whether more are needed depends largely on whether the shocks that have been pushing up on inflation look set to fade
