By Neil J Kanatt Aug 19 (Reuters) – Coty on Wednesday forecast current-quarter earnings below expectations and withheld its annual outlook, calling fiscal 2027 a “transition year” as it pushes ahead with a business overhaul. Shares of the company fell 7% in extended trading as its lack of an annual
NEW YORK (AP) — Normally quiet, the bond market can occasionally send warning signals loud enough to hit stock markets worldwide and even grab the attention of U.S. presidents and other world leaders. After the bond market’s alarm bells rose in volume through the summer, the Trump administration ann
DETROIT (AP) — Read this quickly, before it melts. Ice cream was a rare and expensive treat for centuries because of the difficulty of storing ice. In the summer of 1790, President George Washington spent $200 on ice cream, the equivalent of $7,259 today, according to the International Dairy Foods A
WASHINGTON (AP) — Many Federal Reserve officials think the central bank will have to lift its key short-term interest rate in the coming months if inflation doesn’t subside, minutes of the Fed’s meeting last month showed. The minutes of the July 28-29 meeting, released Wednesday, don’t provide speci
Companies that secretly vary prices based on how much they think individual customers will pay could face federal charges under a proposed policy released Wednesday by the Federal Trade Commission. “When consumers see a listed price, they expect it to be same price that everyone else sees, not the r
Moderna shares more than doubled Wednesday after it announced initial results from a study of an experimental cancer treatment that would be the first of its kind if approved by regulators. Moderna and Merck are developing a treatment using an mRNA-based cancer vaccine called intismeran that is desi
By Promit Mukherjee and David Shepardson OTTAWA, Aug 19 (Reuters) – Canadian trade negotiators were flying back to Ottawa on Wednesday to work on finalizing a trade agreement with the U.S. after President Donald Trump said he had a deal with Canada that would stave off the threat of new U.S. tariffs
ABUJA, Nigeria (AP) — An Ebola outbreak in Congo has surpassed 5,000 confirmed cases, making it one of the largest outbreaks of the deadly disease ever recorded. The outbreak is caused by the Bundibugyo virus, a rare type of Ebola that has no approved vaccine or treatment. Congo’s Ministry of Health
NAIROBI, Kenya (AP) — Seven people, including five Americans, were killed when a safari helicopter crashed Wednesday morning in a remote part of northern Kenya, according to local police and the State Department. The helicopter crashed at 9:13 a.m. while flying from the Loisaba Conservancy to the Ew
Aug 19 (Reuters) – Cantor Fitzgerald has launched prediction market trading for institutional investors, allowing clients to trade event contracts on regulated exchange Kalshi, the investment bank said on Wednesday. The move expands Cantor’s institutional trading model, used for equities and fixed i
Aug 19 (Reuters) – Lyntris’ shares fell 11.4% in the defense contractor’s New York debut on Wednesday, giving the company a valuation of $1.78 billion and underscoring investor caution toward new listings. Shares of the company opened at $15.5 each, below the initial public offering price of $17.50
By Christy Santhosh and Shashwat Chauhan Aug 19 (Reuters) – Moderna shares more than doubled on Wednesday, adding about $30 billion to its market value, after promising late-stage data on its personalized mRNA cancer therapy developed with Merck sent investors piling into the stock. The therapy is c
(AP) – President Trump sees success in trade talks with Canada after reaching a last-minute agreement that delays new tariffs and keeps negotiations moving forward. Just hours before a 50 percent tariff on 20 billion dollars worth of Canadian imports was set to take effect, Mr. Trump announced that
LONDON/WASHINGTON, Aug 19 (Reuters) – Yields on 30-year U.S. Treasuries fell sharply on Wednesday from around their highest level in 19 years, after the Treasury Department announced it would double the size of liquidity support buyback operations for longer-dated bonds. The yield on 30-year U.S. Tr
By David Lawder WASHINGTON, Aug 19 (Reuters) – The U.S. Treasury on Wednesday announced a doubling of buyback sizes for 10- to 30-year Treasury debt securities to at least $4 billion per operation, staunching at least temporarily a weeks-long upward march in yields that had unnerved global investors
LONDON, Aug 19 (Reuters) – U.S. long-dated Treasury yields fell sharply on Wednesday from around their highest level in 19 years, in a move that followed the U.S. Treasury announcing it would double the size of liquidity support buy-back operations for longer-dated bonds. Thirty-year U.S. bond yield
LONDON, Aug 19 (Reuters) – Mining bosses say that regulatory scrutiny of major mergers is increasing as governments pay closer attention to critical minerals and security of supply in the face of a volatile geopolitical backdrop, but they do not see the shift as a fundamental barrier to dealmaking.
By Sanskriti Shekhar Aug 19 (Reuters) – TJX forecast third-quarter profit below Wall Street estimates as slowing growth at its key Marmaxx division fueled concerns of a pullback in consumer spending, sending its shares down nearly 4% in premarket trading on Wednesday. The Framingham, Massachusetts-b
By Rishika Sadam and Sai Ishwarbharath B Aug 19 (Reuters) – U.S. financial services firm Charles Schwab plans to expand the workforce at its newly opened India-based global capability centre to about 2,000 employees by the end of 2027, according to a state government statement. Hiring will happen ov
LONDON, Aug 19 (Reuters) – Halloween trick-or-treating could be less sugary than usual this year as consumers look for healthier snacks and candy companies such as Hershey, the United States’ biggest chocolate-maker, adapt their product offerings. Fuelled by GLP-1 weight-loss drugs and a growing foc
Aug 19 (Reuters) – Home-improvement retailer Lowe’s said on Wednesday it now expects no growth in annual comparable sales, as consumers remained cautious on expensive renovation projects and discretionary spending. The company, whose shares dropped 3.3% in premarket trading, earlier expected this ye
By Mohi Narayan and Shariq Khan NEW DELHI/NEW YORK, Aug 19 (Reuters) – Oil refiners in India and the U.S. are reaping a bonanza as wars in Iran and Ukraine have disrupted global fuel supplies, driven up prices, and left importers scrambling for barrels at the height of summer driving season in the N
Aug 19 (Reuters) – U.S. stock index futures were stable on Wednesday following a technology-driven selloff that rocked Wall Street in the prior session as investors turned their attention to the inflation outlook and geopolitical tensions in the Middle East. U.S. President Donald Trump said on Tuesd
By Juveria Tabassum and Nicholas P. Brown Aug 19 (Reuters) – Target on Wednesday raised its annual sales forecast as efforts to cut prices and freshen merchandise continued to bear fruit, while noting its quarterly profit received a nearly $1 billion boost from tariff refunds. It was the third strai
Aug 19 (Reuters) – Estee Lauder forecast annual profit above Wall Street estimates on Wednesday, betting on sustained demand for premium fragrances and strong performance in key market China, as gains from its CEO’s turnaround strategy continue to build. Shares of Clinique and M.A.C owner, whose mer
KABUL, Afghanistan (AP) — It’s grape season in Afghanistan’s southern province of Kandahar, and the harvest this year is plentiful. But that’s small comfort for the region’s grape producers and workers, who say fighting between Afghanistan and Pakistan has left them unable to access their primary ma
By Samuel Shen and Eduardo Baptista SHANGHAI/BEIJING, Aug 19 (Reuters) – Shares in Unitree, China’s best-known humanoid robot maker, soared more than five-fold in their Shanghai trading debut, in a landmark moment for the country’s robotics sector which has become a key battleground in the Sino-U.S.
By Leika Kihara TOKYO, Aug 19 (Reuters) – Japan is running low on options to fight a bond rout that could push debt financing costs above government estimates, leaving Prime Minister Sanae Takaichi’s ambitious spending agenda hostage to forces she can’t control. Analysts say the tools available to c
BERLIN, Aug 19 (Reuters) – Munich Re will acquire the U.S.-based cyber insurance provider At-Bay at an enterprise value of $575 million, with the deal expected to close in the first quarter of next year, the German insurance group said Wednesday. (Writing by Miranda MurrayEditing by Ludwig Burger) B
SHANGHAI, Aug 19 (Reuters) – China is widely expected to leave benchmark lending rates steady for a 15th consecutive month in August, a Reuters survey showed, despite recent economic data pointing to renewed weakness across the broader economy. The loan prime rate (LPR), normally charged to banks’ m
