MILFORD, Mich. (AP) — President Donald Trump is touting his handling of the economy during a visit to suburban Detroit on Monday, defending sweeping tariffs in a swing state where their effects have hurt many businesses as midterm election season heats up. Trump is visiting a General Motors facility
OSLO, July 27 (Reuters) – Saab has received an order for two GlobalEye surveillance aircraft from a country in the Middle East region worth 10.1 billion Swedish crowns ($1.04 billion), with deliveries in 2030, the Swedish company said on Monday. GlobalEye aircraft have active and passive sensors tha
By Philip Blenkinsop BRUSSELS, July 27 (Reuters) – A majority of U.S. companies operating in Europe now expect stable transatlantic trade and investment relations, a marked improvement from their views in 2025, according to a survey published on Monday. The American Chamber of Commerce to the Europe
BUENOS AIRES, July 27 (Reuters) – The International Monetary Fund’s managing director arrives in Argentina on Monday as investor confidence in President Javier Milei’s reforms grows, despite worries about a debt repayment crunch that could coincide with his reelection bid. Argentina’s exports are ri
By Mike Dolan July 27 (Reuters) – What matters in U.S. and global markets today By Mike Dolan, Editor-at-Large, Finance and Markets A pause in the Iran conflict and a sizeable retreat in crude oil prices away from $100 per barrel offer some relief at the start of what’s set to be another turbulent w
By Yantoultra Ngui and Selena Li SINGAPORE/HONG KONG, July 27 (Reuters) – Investors are expected to scrutinise whether Shein can justify the $40 billion to $50 billion valuation it is seeking in a Hong Kong initial public offering after a prospectus filed on Sunday showed slowing growth and a sharp
By Kane Wu, Helen Reid and Julie Zhu HONG KONG/LONDON, July 27 (Reuters) – Shein’s draft prospectus for a Hong Kong listing, published on Sunday, offers rare details about the role of its reclusive founder and CEO, Sky Xu. According to the prospectus, Xu, 42, has served as chairman, executive direct
By Niket Nishant, Ashitha Shivaprasad and Manya Saini July 27 (Reuters) – For insurers, the periodic El Niño climate phenomenon has traditionally lowered the risk of costly Atlantic hurricanes, but decades of population growth along coastal areas and rising property values are forcing them to rethin
July 27 (Reuters) – Wall Street’s main stock index futures rose on Monday as the United States and Iran announced a pause in hostilities over the weekend, sending oil prices sharply lower. A wide swathe of stocks sensitive to energy prices rose in premarket trading. Airlines including Delta and Amer
HONG KONG, July 27 (Reuters) – Online fast-fashion retailer Shein swung to a $99 million quarterly loss due to slowing sales after the U.S. removed an import duty exemption on small packages and a hefty one-time accounting charge. The loss and other financial details were revealed for the first time
HANOI, Vietnam (AP) — Across seven countries, seven people woke up to days that no longer looked the way they once did. The war in Iran began months ago and thousands of miles away. But its effects quickly ricocheted across the world — oil markets first, sending fuel prices higher. Then the shock mo
BANGKOK (AP) — World shares were mostly higher Monday and oil prices slipped nearly 7% as the U.S. and Iran refrained from fighting while discussing a possible resumption of negotiations on an interim ceasefire deal. Shares in Chinese memory chipmaker CXMT soared 466% as they began trading on Shangh
HONG KONG (AP) — Shares of CXMT, China’s largest memory chipmaker, shot skyward Monday as they began trading in Shanghai in mainland China’s biggest initial public stock offering in recent years. CXMT’s shares surged 466% in their first day of trading. The company has become the most valuable one li
By Dominique Patton and Lisa Jucca PARIS, July 27 (Reuters) – As luxury groups grapple with weak fashion sales and a hit to spending from the Middle East conflict, investors are increasingly focused on one question: who sells enough jewels? The answer may help determine the $400 billion industry’s n
DETROIT (AP) — Traffic is set to start flowing Monday across a new bridge over the Detroit River that will serve as a critical route for trade, jobs and tourism between Canada and the U.S. Last week, Canada celebrated the Gordie Howe International Bridge with a ribbon-cutting ceremony in Windsor, On
July 27 (Reuters) – Shein’s draft prospectus for a Hong Kong market listing has for the first time shed light on the top management and ownership structure of the online fast-fashion retailer, which was founded in China in 2012. The filing, which lays the groundwork for investor roadshows and offici
July 27 (Reuters) – A look at the day ahead in European and global markets from Wayne Cole. A fragile truce seems to have settled on the Gulf as the U.S. military ceased its attacks, in part because of concerns it was running out of ammunition, and Iran said it would pause for as long as the U.S. he
BEIJING, July 27 (Reuters) – Profits at China’s industrial firms grew at a solid, though slower, pace as resilient exports helped cushion sluggish domestic demand, highlighting the economy’s uneven recovery despite policymakers’ efforts to spur consumption. Exports and industrial production have don
By Wayne Cole SYDNEY, July 27 (Reuters) – Share markets rallied in Asia on Monday as a pause in fighting in the Gulf dragged oil prices lower, easing inflation risks and boosting bonds ahead of a packed week of central bank meetings and earnings reports. Iran said on Sunday it would halt its own att
NEW YORK (AP) — Oil prices eased in early trading Sunday, falling further from a two-month high set last week, after the United States and Iran refrained from launching military strikes in the Persian Gulf for a second straight day. The price for a barrel of Brent crude oil to be delivered in Septem
July 26 (Reuters) – Nvidia is in talks to provide a roughly $250 billion backstop for OpenAI as part of a massive data center project, The Wall Street Journal reported on Sunday. The guarantees from Nvidia would help the ChatGPT maker lease a 10-gigawatt project that SoftBank’s energy subsidiary is
SEOUL, July 27 (Reuters) – South Korea’s Naver said in a regulatory filing on Monday that Nvidia will acquire $1 billion of its shares to be newly issued as part of an investment partnership to build a new data center. (Reporting by Jack Kim; Editing by Chris Reese) Brought to you by www.srnnews.com
By Abigail Summerville July 26 (Reuters) – Brown-Forman, maker of Jack Daniel’s whiskey, said on Sunday its board had received an unsolicited takeover bid from privately held spirits company Sazerac, but concluded the offer was “not actionable.” New Orleans-founded Sazerac, whose rye drink is the ci
By Florence Tan and Trixie Yap SINGAPORE, July 27 (Reuters) – Oil prices tumbled 4% on Monday after the U.S. and Iran paused strikes over the weekend after two weeks of attacks, raising hopes of a diplomatic solution that would de-escalate the conflict and allow shipping to resume in the Strait of H
VILLAVICIOSA DE ODÓN, Spain (AP) — Elvira Menéndez knows how lucky she is that her house is not a charred ruin like so many others in Spain and France devastated by deadly wildfires. But the 79-year-old retiree can’t help but worry for another family that, like her, fled the raging inferno. “They ha
To be fair, James Cameron did warn us. Long before OpenAI broke out of its test corral and hacked into Hugging Face, before the internet and Sam Altman were even born, Cameron wrote a screenplay about an autonomous artificial intelligence system that triggers a nuclear apocalypse. That system, “Skyn
CAIRO (AP) — The United States and Iran paused their attacks for a second straight day Sunday, as efforts continued to bring them back to negotiations on an interim ceasefire deal largely undermined by recent exchanges of fire. It was not clear why the U.S. has paused after targeting Iranian coastal
By Luciana Magalhaes SAO PAULO, July 26 (Reuters) – Brazilian President Luiz Inacio Lula da Silva called new U.S. tariffs unfair and a strategic mistake in a Sunday opinion column for The Washington Post, warning they would harm the countries’ bilateral partnership and drive up costs for U.S. consum
How Digital Payments Are Changing Daily Life in Idlib, Syria Digital wallets have moved beyond salary payments to everyday purchases, reshaping commerce in northwest Syria while raising questions about access, security, and reliability Rizik Alabi / The Media Line [IDLIB] Hassan leaves his home for
HONG KONG (AP) — China has a hot new product in the United States: artificial intelligence. San Francisco-based Raffi Krikorian, the chief technology officer at Mozilla, which runs the Firefox browser, switched to Chinese AI startup Moonshot’s Kimi K3 for many of his day-to-day activities within day
