By Leika Kihara TOKYO, July 31 (Reuters) – The Bank of Japan is set to keep interest rates steady on Friday but signal its resolve to continue pushing up borrowing costs, as mounting price pressures from the weak yen and Middle East conflict risk driving underlying inflation above its target. The ex
TOKYO, July 31 (Reuters) – Japan conducted massive yen-buying, dollar-selling market intervention in New York markets on Thursday, the Nikkei newspaper reported, citing market sources. U.S. authorities also conducted so-called “rate checks,” which are precursors for currency intervention, a sign Tok
(Corrects to million from billion in paragraph 5) July 30 (Reuters) – Cryptocurrency exchange Coinbase Global on Thursday recorded a third consecutive quarter of losses, hurt by lower transaction revenue as a prolonged downturn in crypto markets curbed trading activity. Shares of the crypto exchange
July 30 (Reuters) – U.S. agriscience company Corteva on Thursday raised it forecast for full-year adjusted profit, based on strong demand across key crop markets. The acreage shift toward soybeans and away from corn is expected to support demand for seed traits, as farmers adjust planting decisions
July 30 (Reuters) – Amazon.com topped market expectations for quarterly cloud revenue growth on Thursday on the back of surging enterprise AI spending, signaling the company’s hefty investments were bearing fruit. Revenue at its cloud computing unit, Amazon Web Services, jumped 37% to $42.2 billion
By Akash Sriram July 30 (Reuters) – Rivian Automotive beat quarterly revenue estimates and raised annual delivery forecast on Thursday, buoyed by optimism over the rollout of its lower-priced R2 SUV and growth in its software business as it expands beyond its premium lineup. The results suggest that
By Marcelo Teixeira NEW YORK, July 30 (Reuters) – Demand for sugar in the U.S. grew modestly along with the population, while use of high fructose corn syrup fell, a report said on Thursday, suggesting Americans may be trying harder to avoid highly processed foods than to cut back on sugar. Cane and
By Pragyan Kalita July 30 (Reuters) – Permira-backed womenswear retailer Reformation was valued at $886.1 million after its shares opened flat in their NYSE debut on Thursday. The Vernon, California-based company’s shares opened at $15 apiece, the same as its offer price. The retailer and some of it
By Svea Herbst-Bayliss NEW YORK, July 30 (Reuters) – Activist investor Jana Partners is ratcheting up pressure on payments company Fiserv, pushing it to launch a formal review of its entire portfolio rather than sell assets piecemeal, according to a letter seen by Reuters on Thursday. The New York-b
Federal regulators are clearing the way for robotaxis to operate without steering wheels or eventually even brake pedals as the rules start to catch up to the evolving technology. Amazon’s fully autonomous Zoox vehicles got approval Thursday to begin charging customers for rides in the specially des
By Utkarsh Shetti, Abigail Summerville and Pritam Biswas July 30 (Reuters) – Jersey Mike’s shares opened 8.7% below their initial public offering price on Thursday, valuing the sandwich chain at about $6.7 billion in its New York Stock Exchange debut. The offering raised about $1 billion after prici
By Dawn Chmielewski and Paul Sandle LOS ANGELES, CALIFORNIA, July 30 (Reuters) – A group of film producers has urged the British culture minister to intervene in the proposed merger of Paramount Skydance and Warner Bros Discovery and protect access to historical news footage used by documentary make
The average long-term U.S. mortgage rate rose for the fourth consecutive week to its highest level in a year, another setback for prospective homebuyers hoping for a break from elevated home loan borrowing costs. The benchmark 30-year fixed rate mortgage rate rose to 6.66% from 6.58% last week, mort
By David Milliken, William Schomberg and Yoruk Bahceli LONDON, July 30 (Reuters) – The Bank of England kept interest rates on hold on Thursday as it waits for a keener sense of how much the U.S.-Iran war will push up inflation, although the collapse of a tentative truce prompted a third policymaker
July 30 (Reuters) – Universal Music Group reported second-quarter revenue of 3.29 billion euros ($3.79 billion) on Thursday, up 13.3% year-on-year at constant exchange rates, helped by the consolidation of Downtown Music and higher streaming prices. Seconds quarter adjusted earnings before interest,
By Saeed Azhar NEW YORK, July 30 (Reuters) – Goldman Sachs queried its former top lawyer Kathy Ruemmler in 2023, 2025 and 2026 about links to Jeffrey Epstein amid growing scrutiny of the late convicted sex offender’s ties to the elite and wealthy, according to a transcript released by the U.S. Congr
BRUSSELS (AP) — The European Union is offering 10 billion euros ($11.4 billion) in funding for firms to erect seven AI gigafactories as it seeks to close the AI gap with U.S. and China, the 27-nation bloc’s executive said on Thursday. The European Commission said it would like the public financing t
July 30 (Reuters) – Qualcomm shares fell about 5% in premarket trading on Thursday after the chipmaker’s warning about higher memory costs and a steeper decline in Apple revenue raised concerns about near-term profit growth. A surge in AI infrastructure spending has tightened semiconductor supply ch
July 30 (Reuters) – Yum Brands posted better-than-expected quarterly profit and a rise in comparable sales on Thursday, amid concerns the growing cyclospora outbreak linked to its Taco Bell chain may weigh on near-term demand. Taco Bell has been Yum’s main growth driver, drawing consumers with its T
By Michael Erman July 30 (Reuters) – Bristol Myers Squibb raised its full-year revenue and profit forecast on Thursday after reporting second-quarter results that came in well ahead of Wall Street estimates, driven by strong sales of blood thinner Eliquis and newer drugs like heart medicine Camzyos
By Isla Binnie July 30 (Reuters) – KKR raked in higher fees from managing a growing stack of assets and cashed out on more investments in the second quarter, the New York-based investment firm said on Thursday. Fee from managing client money, which KKR earns regardless of how investments perform, ju
July 30 (Reuters) – U.S. stock index futures steadied on Thursday after a sharp selloff driven by uncertainty around the Federal Reserve’s policy outlook, while Microsoft’s forecast-beating results soothed investor concerns about massive AI spending by companies. Microsoft rose nearly 9% in premarke
July 30 (Reuters) – Hershey exceeded Wall Street expectations for second-quarter sales on Thursday as higher prices and steady demand for its Reese’s chocolates and Dot’s Pretzels helped offset a cautious spending environment. The company posted an overall net sales increase of 6.6% to $2.79 billion
July 30 (Reuters) – Starbucks shares jumped 5.6% in premarket trading on Thursday, after a fourth straight quarter of comparable sales growth and increased annual targets indicated CEO Brian Niccol’s efforts were yielding sustainable results. • Niccol’s turnaround completes two years in September, a
PARIS, July 30 (Reuters) – L’Oreal plans to launch its first Gucci beauty products as early as 2028, the company’s Chief Executive Nicolas Hieronimus said on Thursday, adding he was “super ambitious” for the brand that is also showing signs of improvement in its core fashion and leather goods lines.
July 30 (Reuters) – Mercedes-Benz is recalling 310,667 vehicles in the U.S. due to risk of failure to detect an open door, the U.S. National Highway Traffic Safety Administration (NHTSA) said on Thursday. The recall includes models such as CLA, A-Class, C-Class, CLE, GLA/GLB, and GLC vehicles, the N
By Leo Marchandon July 30 (Reuters) – Capgemini Chief Executive Aiman Ezzat said on Thursday that companies hoping to deploy artificial intelligence at scale will first need to modernise decades-old technology systems, creating what he described as a multi-year investment cycle in data, software and
By Stephanie Kelly and Shadia Nasralla LONDON, July 30 (Reuters) – Shell’s adjusted earnings, its measure of net profit, more than doubled from last year to $9.84 billion in the second quarter, beating expectations, helped by higher energy prices and increased market volatility during the Middle Eas
July 30 (Reuters) – Magnum Ice Cream reported half-year core earnings above market expectations on Thursday, driven by cost cuts following its December spin-off from Unilever, and said trading remained strong at the start of the key summer season. Sales of Ben & Jerry’s grew 9.2% in the second quart
By Cynthia Kim SEOUL, July 30 (Reuters) – South Korea’s efforts to rein in the leveraged products wreaking havoc in its financial markets may not go far enough to quell skyrocketing volatility, analysts say, as pain and public anger mount over a $2 trillion-and-counting stocks wipeout. As the hottes
