By Purvi Agarwal and Niket Nishant Aug 24 (Reuters) – The S&P 500 and the tech-heavy Nasdaq slipped on Monday as investors weighed the potential fallout from the U.S. pledge of an “economic D-Day” against Iran while awaiting AI giant Nvidia’s results and a key inflation report later this week. The m
By John Revill ZURICH, Aug 24 (Reuters) – Swiss industrial companies fear higher tariffs they face on exports to the United States are putting them at a major disadvantage against European rivals who are exposed to lower import charges, a survey said on Monday. The U.S. has imposed a tariff rate of
HONG KONG (AP) — Computer programmer Fei Zhaojun’s boss asked him if artificial intelligence could soon replace humans in coding jobs. Two weeks later, he was laid off from his job in Beijing, together with about 160 of his colleagues. It’s an increasingly common scenario as artificial intelligence,
By Andrew Silver SHANGHAI, Aug 24 (Reuters) – Weight-loss drugmakers, vying to tighten the belts of Chinese consumers, are promoting obesity awareness in metro stations, exercise studios and soccer stadiums as local restrictions prevent the direct advertising of prescription medicines in the world’s
Aug 24 (Reuters) – A look at the day ahead in European and global markets from Wayne Cole. It’s been a nervy start to the week for markets in Asia with the main move being a 1.5% drop in oil prices as investors await details of President Trump’s economic war on Iran. Treasury Secretary Scott Bessent
By Nick Carey LETCHWORTH, England, Aug 24 (Reuters) – Electric vehicle sales accelerated across much of Europe in July, as high oil prices, subsidies and availability of more affordable models encouraged consumers to ditch their combustion-engine cars, data provided to Reuters showed. EV sales have
UAE Joins Islamic Nations Backing Sanctions Over Israel’s E1 Plan By The Media Line Staff The United Arab Emirates joined seven Arab and Islamic countries on in backing potential international sanctions against individuals and entities involved in Israel’s E1 settlement project in the West Bank. For
By Yantoultra Ngui and Selena Li HONG KONG, Aug 24 (Reuters) – Online fast-fashion retailer Shein will pay up to $3.5 billion to selected existing investors — almost twice the fresh capital it is seeking in an IPO — to help compensate them for a sharp slide in its valuation, its prospectus showed on
By Renju Jose and Alasdair Pal SYDNEY, Aug 24 (Reuters) – New Zealand Prime Minister Christopher Luxon said on Monday his party will introduce a bill in Parliament that seeks to ban children under 16 from using social media, proposing fines of up to 10% of a platform’s global revenue for non-complia
HONG KONG, Aug 24 (Reuters) – Online fast-fashion retailer Shein’s valuation has crumpled by about 70% from a private market peak of nearly $100 billion four years ago, as it looks to raise up to HK$13.86 billion ($1.77 billion) in a Hong Kong IPO launched on Monday. Shein is selling 280 million sha
By Tom Westbrook SINGAPORE, Aug 24 (Reuters) – A wavering dollar was pinned near multi-month lows on Monday in a market unsettled by the U.S. Treasury’s promise to buy back more long-dated bonds, while traders awaited details of sanctions on Iran and on policy speeches this week in the U.S. and Japa
Aug 24 (Reuters) – Online fast-fashion retailer Shein launched its long-awaited Hong Kong IPO on Monday, aiming to raise up to HK$13.86 billion ($1.77 billion) at a valuation of close to $27 billion. It will price the offering on August 28 and debut on September 1, according to the offering prospect
By Renju Jose SYDNEY, Aug 24 (Reuters) – KPMG Australia, embroiled in scandal over the misuse of confidential client information, said on Monday it would cut about 5% of its workforce, affecting 27 partners and around 360 employees, and warned of difficult market conditions next year. Most of the he
By Wayne Cole SYDNEY, Aug 24 (Reuters) – Share markets were hesitant in Asia on Monday and oil prices eased as investors awaited details of threatened U.S. sanctions on Iran due later in the session, while the Canadian dollar dipped as a trade war loomed with its southern neighbour. The entire tech
SEOUL, Aug 24 (Reuters) – Shares of Samsung Electronics fell more than 5% in early trade on Monday, after the South Korean chipmaker said last week its shareholder returns this year could reach up to 110 trillion won ($79.38 billion). The shares were down 5.2% by 0013 GMT, while peer chipmaker SK Hy
Aug 23 (Reuters) – California Attorney General Rob Bonta is expected to ask Paramount to divest some cable channels and commit to keeping its movie studio separate from Warner Bros. before he signs off on their merger, the Wall Street Journal reported on Sunday, citing people familiar with the matte
By Florence Tan SINGAPORE, Aug 24 (Reuters) – Oil prices slipped more than $1 a barrel on Monday as investors took profits ahead of an expected announcement from Washington about imposing more sanctions on Iran that may further disrupt supplies from the Middle East. Brent crude futures fell $1.22, o
Aug 24 (Reuters) – The one-time billionaire who came to personify the boom and bust of China’s property market was sentenced to life in prison last week by a Chinese court. But the collapse of the sector, entering its sixth year, remains a drag on the world’s second-biggest economy, a pain point for
By Sherin Sunny and Keshav SinghChundawat Aug 24 (Reuters) – Australia’s top fuel retailer Ampol posted record interim profit on Monday as higher refining margins linked to Middle East supply disruptions lifted earnings nearly five-fold, pushing its shares to a more than two-year high. Refining marg
By Yantoultra Ngui and Kane Wu HONG KONG, Aug 24 (Reuters) – Online fast-fashion retailer Shein’s valuation has dropped by around 70% from a near $100 billion private market peak four years ago, as it aims to raise up to HK$13.86 billion ($1.77 billion) in its Hong Kong IPO launched on Monday. Shein
By Amir Orusov Aug 24 (Reuters) – Battery electric vehicle registrations in Europe continued to rise in July, with electric cars accounting for more than one in four new vehicles sold as strong growth in France and Germany offset weaker demand in some other markets. Battery electric vehicle, or BEV,
BERLIN, Aug 23 (Reuters) – Commerzbank’s supervisory board chair, Jens Weidmann, has called for a review of Germany’s takeover rules, saying UniCredit was able to secure control of the lender without offering shareholders an adequate premium, a newspaper reported on Sunday. Weidmann was quoted as te
ZURICH, Aug 23 (Reuters) – Christine Lagarde, chief of the European Central Bank, could take over the presidency of the World Economic Forum at some point in 2027, Swiss newspaper NZZ reported on Sunday. At a board meeting near Geneva this week, Lagarde was reportedly described as a “putative candid
Aug 23 (Reuters) – – Vietnam’s National Assembly on Sunday approved amendments to the customs law that strengthen customs powers to intercept counterfeit and intellectual property-infringing goods, a move that could address some concerns raised in a U.S. trade investigation into the country’s protec
BEAVERCREEK, Ohio (AP) — A lip-licking alligator, a smiling moose and a hat-wearing bear are among the many cartoon animals to have found themselves in the crosshairs of Buc-ee’s, the popular Texas convenience store chain that has a penchant for protecting its buck-toothed beaver. But now Buc-ee’s h
Aug 23 (Reuters) – China’s Alibaba on Sunday launched a HK$80-billion ($10.2 billion) share placement to fund artificial intelligence-related development. A deal by the Chinese e-commerce and cloud computing giant would mark the largest-ever primary follow-on offering by a Hong Kong-listed company.
LENOX, Mass. (AP) — The union for Boston Symphony Orchestra musicians authorized the first strike in the ensemble’s 145-year history on Saturday. The Boston Musicians’ Association issued a statement ahead of the expiration of the union’s three-year contract at 11:59 p.m. Sunday. The orchestra and ma
Aug 22 (Reuters) – Canadian union Unifor said on Saturday it reached tentative agreements with General Motors on behalf of 4,600 members in Ontario. Here are some details: • The agreements cover members of the Oshawa Assembly Plant, CAMI Assembly Plant in Ingersoll, and worksites in St. Catharines a
Aug 22 (Reuters) – Paramount and California state officials are set to meet on Monday to discuss a potential settlement path of the state’s lawsuit aimed at stopping Paramount’s acquisition of Warner Bros. Discovery, the New York Times reported on Saturday citing sources familiar with the discussion
BEIJING (AP) — Chinese humanoid robots broke records set by humans, including beating Usain Bolt’s 100-meter sprint world record, on the opening day of the Olympics-like World Humanoid Robot Games in Beijing on Saturday. More than 2,000 humanoid robots were participating in the event, the organizer
