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
By Stephanie Kelly and Shadia Nasralla LONDON, July 30 (Reuters) – Shell’s adjusted earnings, its definition of net profit, reached $9.84 billion in the second quarter, it said on Thursday, beating expectations and more than doubling its profit from the same time last year. Higher oil and gas prices
MILAN, July 30 (Reuters) – Stellantis said on Thursday its operating income more than tripled in the second quarter, driven by strong revenue growth in North America, helping the automaker generate €1 billion ($1.15 billion) in industrial free cash flows. The figures suggest the Fiat-to-Jeep maker i
HONG KONG (AP) — Oil prices gained Wednesday and Asian shares were mostly trading lower as South Korea’s Kospi extended its losses after falling more than 16% over the past two days led by artificial intelligence-related stocks. Crude prices remain volatile after the U.S. said early Thursday it had
July 30(Reuters) – German sportswear maker Adidas on Thursday raised its sales forecast for the year after second-quarter revenues beat expectations, boosted by the soccer World Cup and strong consumer demand for its latest collections. It now expects currency-neutral revenues to grow between 9% and
July 30 (Reuters) – J.P.Morgan now expects the Federal Reserve to deliver a quarter-point rate hike in December, bringing forward its previous forecast for an increase in the second half of 2027, after the central bank left policy rates unchanged at its July meeting. Fed Chair Kevin Warsh reaffirmed
By Rachel More BERLIN, July 30 (Reuters) – German premium carmaker BMW said it was steeling itself for tougher competition with workforce reductions as pre-tax earnings slumped by over a third in the second quarter due to Middle East headwinds and weakness in China. The company on Thursday reported
HANOI, Vietnam (AP) — The noise is everywhere in Hanoi. The crack of a hydraulic breaker, the groan of excavators, the crunch of brick and concrete being torn apart. As Vietnam pushes for double-digit economic growth, its capital is pursuing an ultramodern vision for the next 100 years. In the first
MILFORD, Mich. (AP) — Flying to a rally at General Motors this week, President Donald Trump declared that “car companies are doing better than they’ve ever done” thanks to his tariffs. “All because of Trump,” he said. It was a message the Republican president repeated while touring a collection of n
By Gertrude Chavez-Dreyfuss NEW YORK, July 30 (Reuters) – Investors searching for clarity from a newly led U.S. Federal Reserve were disappointed on Wednesday, warning that the central bank’s mixed messages on the outlook for interest rates could unsettle stocks and bonds and increase the risk of ma
A look at the day ahead in European and global markets from Ankur Banerjee A divided Federal Reserve and a confusing message from Chair Kevin Warsh on where rates are headed has left the bond market scratching its head and somehow in charge, in an odd reversal that raises questions about the central
By Makiko Yamazaki TOKYO, July 30 (Reuters) – Japan’s government cut its economic growth forecast for the current fiscal year on Thursday, as higher oil prices linked to Middle East tensions squeeze household spending and corporate profits. In its mid-year estimates, the Cabinet Office projected inf
HAVANA (AP) — In an effort to fend off a mounting humanitarian crisis, Cuba on Wednesday eased up on longtime restrictions on private vendors and imports, opening up a sector firmly controlled by the Communist-led government. The reforms would allow for the import and resale of some goods and medici
SEOUL, South Korea (AP) — South Korean technology giant Samsung Electronics on Thursday reported a record operating profit of 89.5 trillion won ($62 billion) for the April-June period, a day after crosstown rival SK Hynix also reported record earnings, as the world’s two largest memory chipmakers co
By Ankur Banerjee SINGAPORE, July 30 (Reuters) – Asian stocks struggled for direction in choppy trading on Thursday after a week of market turbulence sparked by AI jitters, as a divided Federal Reserve stood pat on rates and left bond markets uncertain about the next move. Brent futures slipped belo
SYDNEY, July 30 (Reuters) – KPMG Australia said on Thursday it had made no decision on possible job cuts after the Australian Financial Review (AFR) reported that the firm plans to eliminate about 1,000 positions or 10% of its workforce following an audit misconduct scandal. Details on the roles to
By Gregor Stuart Hunter SINGAPORE, July 30 (Reuters) – The U.S. dollar found its footing at the start of Asian trading on Thursday after the Federal Reserve kept its policy interest rate on hold and Chair Kevin Warsh left markets guessing about how divisions on its rate-setting committee would resol
By Colleen Howe BEIJING, July 30 (Reuters) – Oil prices gave up some of their gains on Thursday as oil tankers continued to make their way out of the Middle East even as tensions there escalated, with the U.S.-Iran war spreading beyond its main fronts. Brent futures fell $1.29, or 1.42%, to $89.45 a
SEOUL, July 30 (Reuters) – Samsung Electronics said on Thursday its operating profit jumped 19-fold to a record in the second quarter, as solid demand for AI chips offset weaker earnings at its mobile business. The world’s top memory chipmaker reported operating profit of 89.4 trillion won ($61.91 b
By Anuja Bharat Mistry and Waylon Cunningham July 29 (Reuters) – Chipotle Mexican Grill raised its annual sales forecast on Wednesday but said the third quarter is likely to be its toughest of the year after a multistate cyclosporiasis outbreak dented consumer confidence in eating out in late July.
By Muvija M LONDON, July 30 (Reuters) – A wave of Chinese entrants into Britain’s car market is piling pressure on traditional manufacturers, forcing them to offer deeper discounts to compete with lower-cost imports, the head of the country’s main automotive industry body said on Thursday. Chinese b
By Max A. Cherney and Tom Hals SAN FRANCISCO/WILMINGTON, Delaware, July 29 (Reuters) – Intel has provided access to some of its processor technology to a new startup, according to a source and documents reviewed by Reuters, in a rare move for the U.S. chipmaker. Intel CEO Lip-Bu Tan and the startup’
By Dan Burns July 29 (Reuters) – Kevin Warsh came into the Federal Reserve chairman’s seat busting for, as he repeatedly called it, a “good family fight,” and he appears to have had a bruiser at this week’s two-day policy meeting, just the second he has overseen. Three of his fellow Federal Open Mar
Meta Platforms said Wednesday its second-quarter profit declined even as revenue beat Wall Street’s expectations, as legal expenses and severance costs for recent layoffs weighed on its results. The Facebook and Instagram parent company earned $15.85 billion, or $6.18 per share, in the April-June pe
Starbucks shares soared Wednesday after the coffee giant reported better-than-expected quarterly revenue and profit and raised its financial outlook for the year. The Seattle company said global same-store sales in its fiscal third quarter rose 7.9%, which was well above the 5.7% increase Wall Stree
By Jarrett Renshaw and Siddharth Cavale July 29 (Reuters) – The Trump administration is weighing whether to extend a Sept. 1 deadline requiring oil refiners to demonstrate compliance with the nation’s biofuel blending laws, a move that could provide the industry more flexibility as it grapples with
Elon Musk’s company xAI has sued Minnesota over the state’s first-in-the-nation law that bans “nudification” technology on websites and apps, potentially providing a test for how far states can go in constitutionally regulating the use of artificial intelligence. Musk’s company sued Monday in federa
By Courtney Rozen WASHINGTON, July 29 (Reuters) – OpenAI CEO Sam Altman on Wednesday said he is meeting with U.S. senators to talk about his company’s upcoming models, more than a week after his company disclosed that one of its AI systems had gone rogue during testing. Altman met with Senators Rap
NEW YORK, July 29 (Reuters) – The Federal Reserve held interest rates steady on Wednesday, a choice that may intensify questions about how U.S. central bank chief Kevin Warsh will deliver on his commitment to bring inflation back down to the 2% target. The decision to leave the benchmark interest ra
By David French NEW YORK, July 29 (Reuters) – Shell and Phillips 66 are working on a potential sale of their stakes in the company which owns the Explorer refined products pipeline, in a deal that could value the major piece of U.S. energy infrastructure at around $3.5 billion, people familiar with
