By Mike Dolan Aug 26, LONDON (Reuters) – What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets While the continuing retreat of world oil prices on Wednesday is something of a puzzle given the bellicose rhetoric from Washington and Tehran, it’s had a powerf
By Rachel More BERLIN, Aug 26 (Reuters) – Volkswagen CEO Oliver Blume urged workers at the German automaker’s Emden plant, which could face closure under a sweeping turnaround plan, to step up savings efforts, warning that costs were still too high when compared with rivals. “This journey is not ove
By Howard Schneider WASHINGTON, Aug 26 (Reuters) – U.S. President Donald Trump’s efforts to oust Federal Reserve officials to clear room for his own appointees have been stalled so far by the courts and political pushback in the Senate, but he may still have as many as four opportunities to try to b
By AJ Vicens Aug 26 (Reuters) – U.S. authorities are investigating a data breach at a small maker of water utility technology, highlighting infrastructure cybersecurity threats even though the Kansas firm was apparently not part of a suspected Iranian-affiliated campaign against water plants in Minn
(SRN NEWS) – President Donald Trump is escalating pressure on Canada in a high-stakes trade dispute, arguing that American workers and businesses have been disadvantaged for too long by Canadian trade barriers. The confrontation has produced retaliatory tariffs from Ottawa, but analysts say the two
Aug 26 (Reuters) – Australia’s Macquarie Group said on Wednesday it would retain PricewaterhouseCoopers (PwC) as its auditor and will not recommend the appointment of KPMG at its 2027 annual general meeting, citing concerns about the latter’s audit practices. KPMG came under intense scrutiny from th
By Sherin Sunny and Kumar Tanishk Aug 26 (Reuters) – Property developer Ingenia Communities on Wednesday offered to buy Peet in a deal valuing the residential property developer at A$992.5 million ($710.93 million), to expand its presence in the Australian housing market. The proposal follows a peri
By Jeffrey Dastin SAN FRANCISCO, Aug 26 (Reuters) – Bill Gates is looking to meet with Chinese President Xi Jinping later this year, eager to propose global efforts to mitigate the growing risks posed by artificial intelligence. The Microsoft co-founder and billionaire philanthropist told Reuters in
By Heekyong Yang and Heejin Kim SEOUL, Aug 26 (Reuters) – Hyundai Motor said on Wednesday it would launch or refresh more than 100 vehicles globally by 2030 and expand its U.S. hybrid lineup, as the South Korean automaker seeks to lift its operating profit margin above 9%. Under what it described as
(Corrects Lynas’ Reuters Instrument Code in paragraph 1) MELBOURNE, Aug 26 (Reuters) – Australia’s Lynas Rare Earths said it planned to grow its global supply chain on Wednesday, with discussions to secure new mine supply from project developers around the world and set up a magnet processing facili
By Sameer Manekar and Rajasik Mukherjee Aug 26 (Reuters) – FleetPartners said on Wednesday it had received an A$813.1 million ($582.3 million) offer from a consortium led by Japan’s Sumitomo Corp, making it the fourth bidder for the Australian vehicle leasing firm in less than a month. The competing
WASHINGTON (AP) — The U.S. and Canada have ramped up their trade war, hitting each other with steep new tit-for-tat tariffs. Despite the bravado coming from both sides of the border, though, analysts suspect the longtime allies will eventually strike a deal to end a conflict neither really wants. Th
TOKYO (AP) — Asian shares mostly rose in early Wednesday trading, as investors kept an eye on the ongoing talks over reopening the Strait of Hormuz, which remains largely shut down because of the war in Iran. The global interest in artificial intelligence continued to boost some regional issues, whi
By Yantoultra Ngui and Phuong Nguyen HONG KONG/HANOI, Aug 26 (Reuters) – France’s BNP Paribas and South Korea’s KB Kookmin Bank are in separate talks to acquire at least a 15% stake in Vietnam’s Techcombank as strategic investors, in a deal that could be worth $2 billion, two sources said. The poten
By Marwa Rashad and Nora Buli LONDON/OSLO, Aug 26 (Reuters) – Six months into the U.S.-Iran war, Qatar is among the conflict’s biggest economic casualties, with its liquefied natural gas exports slashed by 96%, data shows. Saudi Arabia, the UAE, Iraq and Kuwait have seen their oil exports hit, but b
A look at the day ahead in European and global markets from Ankur Banerjee A holding pattern in global markets has emerged as traders await earnings from Nvidia that will be a test of confidence in the AI trade while rising hopes of supplies moving through the Strait of Hormuz pushed oil prices lowe
SHANGHAI/BEIJING, Aug 26 (Reuters) – A huge recall in China last week aims to address a long-standing fear of EV owners: potentially being trapped in their cars when the power fails. It also highlights how Beijing is now spearheading new auto safety standards for some of the world’s most advanced ca
By Ankur Banerjee SINGAPORE, Aug 26 (Reuters) – Asian stocks rose on Wednesday as a drop in oil prices dragged bond yields lower on hopes that the critical Strait of Hormuz may reopen soon, while investors braced for yet another make-or-break earnings report from AI bellwether Nvidia. Iran said it h
By Gregor Stuart Hunter SINGAPORE, Aug 26 (Reuters) – The dollar was rangebound in early Asian trading on Wednesday as an uneasy calm hung over currency markets, with investors awaiting inflation reports from major economies including the U.S. ahead of the Jackson Hole symposium this weekend. The gr
SYDNEY, Aug 26 (Reuters) – Australian consumer prices rose more than expected in July as fuel and travel costs jumped, data showed on Wednesday, while core inflation also exceeded forecasts and added to the risk of another hike in interest rates. The Australian dollar rose 0.2% to $0.7176, while thr
Retailer Target pulled a children’s Halloween costume from its shelves Monday after widespread social media backlash, apologizing for selling a garment critics said evoked racist minstrel caricatures. Critics say the costume, along with its promotional image of a Black child modeling the get-up, is
OAKLAND, Calif. (AP) — Adam Mosseri, the Meta executive at the helm of Instagram, defended the platform’s safety record in testimony Tuesday and took issue with a plaintiff attorney’s emphasis on low usage numbers for a feature designed to encourage young users to take breaks. Mosseri was appearing
By Kanishka Singh WASHINGTON, Aug 25 (Reuters) – Accounting firm Deloitte will pay $21.5 million to settle a U.S. Department of Justice probe over diversity, equity and inclusion practices, which President Donald Trump’s administration has cracked down on during his second term in office. The settle
By Yuka Obayashi TOKYO, Aug 26 (Reuters) – Oil prices dropped about 2% on Wednesday, adding to the previous session’s losses, on fresh hopes the Strait of Hormuz could reopen after Iran said it had resumed talks with neighbour Oman on managing the strategic waterway. Brent crude futures fell $1.78,
By Shariq Khan NEW YORK, Aug 25 (Reuters) – Commodities trader Gunvor is in talks to buy U.S. natural gas-producing assets from private energy firm Silver Hill Energy Partners, expanding efforts to build an integrated shale gas production and marketing business, four sources told Reuters on Tuesday.
By Satoshi Sugiyama TOKYO, Aug 26 (Reuters) – The Bank of Japan will move more swiftly than previously expected and raise interest rates again in September, a majority of economists said in a Reuters poll, with the terminal rate also likely to be higher. Poll results reflect in part the Japanese cen
By Jamie McGeever ORLANDO, Florida, Aug 25 (Reuters) – Oil prices fell sharply on Monday, with Brent crude back below $90 a barrel, sparking a solid rise on Wall Street and strong rally in Treasuries, as investors digested recent news on U.S. bond buybacks and escalation of the U.S.-Canada trade war
ABBEVILLE, La. (AP) — Elon Musk’s space company plans to spend $100 billion to build a massive new spaceport in Louisiana to launch rockets, state officials and the company announced Tuesday. Louisiana Gov. Jeff Landry said the deal was a big win for the state and country, likening the impact of the
Aug 25 (Reuters) – Intuit forecast annual revenue below Wall Street expectations on Tuesday, as the TurboTax maker said its push for customer growth and market-share gains would weigh on near-term sales. The enterprise software provider projected fiscal 2027 revenue of $23.28 billion to $23.51 billi
Aug 25 (Reuters) – Backlash over a Halloween costume sold by Target spilled into the retailer’s shares on Tuesday, drawing fresh attention to a string of similar controversies that have plagued global brands over cultural missteps. Here are some examples: Brand Product or Fallout marketing campaign
