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Indexes rise, boosted by Nvidia record valuation, strong Delta forecast

By Sinéad Carew and Pranav Kashyap (Reuters) -The S&P 500 and the Nasdaq Composite rose modestly to post record closing highs on Thursday, boosted by an upbeat forecast from Delta Air Lines and a record close for Nvidia while investors shrugged off President Donald Trump's latest tariffs. Delta shares rallied 12% after the carrier forecast third-quarter and full-year profits above Wall Street

2025-07-10T21:03:11Z

JPMorgan CEO Dimon says markets under-pricing risk of higher US interest rates

By Padraic Halpin DUBLIN (Reuters) -JPMorgan Chase CEO Jamie Dimon said on Thursday he thought the financial market was underestimating the possibility of U.S. interest rates climbing higher, a prospect he described as a "cause for concern". The Federal Reserve last month voted unanimously to leave rates unchanged. Fed Chair Jerome Powell said he expected "meaningful" inflation ahead as

2025-07-10T16:53:09Z

Froot Loops maker WK Kellogg soars 50% on reports of Ferrero nearing buyout

(Reuters) -WK Kellogg's shares surged nearly 50% before the bell on Thursday after Reuters reported that Italian candy maker behind Ferrero Rocher is close to buying the cereal maker, uniting two of the world's most recognizable consumer food companies. Shares of the Michigan-based company hit $26.10, their highest since the maker of Fruit Loops and Frosted Flakes was spun off in 2023. Ferrero

2025-07-10T10:28:10Z

Indeed, Glassdoor to cut 1,300 jobs amid AI integration, memo shows

(Reuters) -Recruit Holdings, the Japanese parent of Indeed and Glassdoor, will reduce headcount by around 1,300 across the two job sites amid a shift in focus toward artificial intelligence, according to a memo seen by Reuters on Thursday. The cuts — representing about 6% of the HR technology segment workforce — are mostly in the U.S. and within the research and development, growth, and people

2025-07-10T20:03:14Z

Airbus taps Lars Wagner as CEO of its commercial aircraft business from 2026

(Reuters) -Airbus said on Thursday that Lars Wagner would become the CEO of its commercial aircraft business from January 1, 2026. The current CEO of MTU Aero Engines will join the French planemaker from the start of November 2025 to ensure a smooth transition as he takes over from Christian Scherer, the company said. (Reporting by Mathias de Rozario in Gdansk)

2025-07-10T11:28:16Z

Tesla to hold annual shareholder meeting in November

(Reuters) -Tesla will hold its annual shareholder meeting on November 6, the Elon Musk-led automaker said on Thursday. The announcement comes a day after a group of 27 major Tesla shareholders urged the electric car maker to set a date for its annual shareholder meeting, citing legal obligations. The board has also set July 31 as the new deadline for the submission of shareholder proposals to be

2025-07-10T10:23:15Z

Flutter to buy Boyd Gaming's 5% FanDuel stake in $1.76 billion deal

(Reuters) -Flutter Entertainment will buy Boyd Gaming's 5% stake in FanDuel in a deal worth about $1.76 billion, giving it complete ownership of the online betting operator, the companies said on Thursday. The deal gives FanDuel an implied valuation of about $31 billion, Flutter said in a statement. The deal comprises a $1.55 billion consideration for the stake, and another $205 million for

2025-07-10T23:03:09Z

German exporters don't want US trade deal 'at any price', says trade group

By Rene Wagner and Maria Martinez BERLIN (Reuters) -German exporters do not want a deal at any price in the trade conflict with the United States, said Dirk Jandura, head of the BGA trade lobby. "Our interests must be reflected in an agreement with the U.S.," Jandura said on Thursday in Berlin. "We need a fair deal for the whole of Europe. It must not be concluded at any price." The European

2025-07-10T11:28:13Z

Ulta Beauty acquires British retail chain Space NK

(Reuters) -U.S. cosmetics retailer Ulta Beauty on Thursday announced its venture into the British market with its purchase of high street chain Space NK. Ulta Beauty did not disclose the financial terms of the transaction. Sky News first reported on the deal earlier on Thursday. While the exact price being paid by Ulta was unclear, the deal value was likely to be well in excess of 300 million

2025-07-10T11:28:09Z

Bitcoin jumps to record on institutional investor demand

NEW YORK/SINGAPORE (Reuters) -Bitcoin rallied to an all-time high on Friday, powered by demand from institutional investors and crypto-friendly policies from U.S. President Donald Trump's administration. The world's largest cryptocurrency rose to a peak of $116,781.10 in the Asian session on Friday, taking its gains for the year so far to more than 24%. It was last trading at $116,563.11. "

2025-07-11T05:03:09Z

BMW CEO hopeful for 'manageable' deal on US auto import tariffs

MUNICH (Reuters) -BMW's CEO said on Friday he was optimistic that the European Union and the United States would soon reach a "manageable" agreement on auto import tariffs, potentially including a mechanism to offset imports with exports. Oliver Zipse's comments come as Europe awaits a letter from the U.S. administration under Donald Trump that could outline the framework of a trade deal and

2025-07-11T13:03:14Z

MP Materials shares surge on mega deal with defense department to boost US magnet supply

(Reuters) -MP Materials will build a new rare earth magnet plant in a multibillion-dollar deal with the Department of Defense as the U.S. looks to cut foreign dependency for the critical input, sending the company's shares up 41% in premarket trading. The DoD will buy $400 million worth of preferred stock and will also receive a warrant, the company said, positioning the department to become its

2025-07-10T12:38:16Z

Boyd Gaming to sell its 5% stake in FanDuel Group for $1.76 billion

(Reuters) -Boyd Gaming will sell its 5% equity interest in FanDuel Group to Flutter Entertainment for about $1.76 billion, the companies said on Thursday. The deal, expected to close in the third quarter of 2025, will give Flutter complete ownership of FanDuel at an implied valuation of about $31 billion. (Reporting by Utkarsh Shetti in Bengaluru; Editing by Shailesh Kuber)

2025-07-10T21:03:11Z

Ulta Beauty enters UK with retail chain Space NK's acquisition

(Reuters) -U.S. cosmetics retailer Ulta Beauty on Thursday announced its entry into the British market with its purchase of high street chain Space NK. Founded by beauty industry veteran Nicky Kinnaird, Space NK offers premium beauty and perfume brands in the UK and Ireland through its 83 cosmetics retail stores, as well as online. Ulta Beauty did not disclose the financial terms of the

2025-07-10T12:33:10Z

CNBC Daily Open: AI is drawing investors' attention away from fresh tariffs

On Wednesday, Trump posted a fresh slate of letters announcing tariff on goods from at least seven more countries.

2025-07-10T07:04:45Z

Magnum Ice Cream Co names Jochanan Senf as Ben & Jerry's CEO

(Reuters) -The Magnum Ice Cream Company said on Thursday it has appointed Jochanan Senf as the global chief executive officer of Ben & Jerry's, effective mid-July. The leadership change comes as Ben & Jerry's independent board is locked in a legal fight with parent Unilever over the removal of its former CEO Dave Stever, who had been with the ice cream maker since 1988 and was appointed to the

2025-07-10T22:03:06Z

BMW group sales increase slightly in Q2 on growing demand in Europe

(Reuters) -German carmaker BMW reported a slight increase in second-quarter deliveries on Thursday, as growing demand in Europe offset a slump in China. In the April-to-June period, deliveries of BMW, MINI and Rolls-Royce vehicles increased by 0.4% year on year to 621,271 units, the company said. BMW & MINI sales rose by 10.1% in Europe and by 1.4% in the United States, while sales in China fell

2025-07-10T09:18:16Z

Wall Street stocks close higher, Delta forecast boosts sentiment

By Sinéad Carew and Pranav Kashyap (Reuters) -Wall Street indexes rose on Thursday, with the S&P 500 and the Nasdaq Composite marking closing record highs, as investors shrugged off President Donald Trump's latest tariff moves, while investors were encouraged by an upbeat forecast from Delta Air Lines. Delta shares rallied after the carrier forecast third-quarter and full-year profits above Wall

2025-07-10T20:03:12Z

Ex-Goldman partner's investment firm issues $1 billion in homebuilder loans

(Reuters) -Pretium, a real-estate focused investment firm founded by Goldman Sachs alum Don Mullen, said on Thursday it has originated more than $1 billion in loans to homebuilders in the last six months. The company, which manages $60 billion of assets, started issuing these loans in January to expand its footprint in the residential real estate market. The ongoing housing shortage in the

2025-07-10T10:28:18Z

Trading giant Virtu backs plan for IEX's proposed options exchange

(Reuters) -Trading and market making firm Virtu Financial threw its support behind a proposal by IEX to launch a new U.S. options exchange, saying the initiative could promote competition and innovation. In a letter to the Securities and Exchange Commission dated July 9, Virtu called IEX's proposed platform a "well-intentioned" step that could benefit retail investors and enhance transparency.

2025-07-10T20:03:15Z

Temasek's portfolio scales new peak even as divestments hit over 2-decade high

The Singapore state investment firm's net portfolio value soared to 434 billion Singapore dollars ($324 billion) for its financial year ended March.

2025-07-09T10:04:14Z

Ford recalls more than 850,000 vehicles in US over fuel pump defect

(Reuters) -Ford Motor is recalling 850,318 vehicles in the U.S. due to a potential low-pressure fuel pump failure, which could cause an engine stall, the U.S. National Highway Traffic Safety Administration said on Thursday. A faulty fuel pump can reduce fuel flow from the tank to the engine, causing an engine stall and increasing the risk of a crash, NHTSA said. The auto safety authority

2025-07-10T09:18:21Z

Chinese banks stumble on Beijing's consumer lending push

BEIJING (Reuters) -Chinese banks are struggling to comply with new Beijing guidelines to boost consumer credit as they reel from a surge of defaults on personal loans and have a hard time finding households in good financial shape that want to borrow. Since March, financial regulators have issued multiple directives urging banks to offer more, and cheaper, loans to spur consumption, as part of

2025-07-11T05:03:13Z

WK Kellogg agrees to $3.1 billion buyout deal by Italy's Ferrero

(Reuters) -WK Kellogg on Thursday agreed to be bought by the owner of Ferrero Rocher in a deal worth around $3.1 billion, as the cereal maker has been struggling with weakening consumer demand due to persistently high inflation. (Reporting by Savyata Mishra in Bengaluru; Editing by Shinjini Ganguli)

2025-07-10T13:38:25Z

CNBC Daily Open: More tariff letters are out, but investors have their eyes on AI

On Wednesday, Trump posted a fresh slate of letters announcing tariff on goods from at least seven more countries.

2025-07-10T02:04:47Z

Froot Loops maker WK Kellogg agrees to $3.1 billion deal from Italy's Ferrero

(Reuters) -WK Kellogg on Thursday agreed to be bought by the owner of Ferrero Rocher in a deal worth around $3.1 billion, as the cereal maker has been struggling with weakening consumer demand due to persistently high inflation. Deal making in the snacking space has picked up pace as food brands battle muted sales in the wake of price hikes owing to higher input costs and a shift in consumer

2025-07-10T13:38:18Z

Trump's Brazil tariff rattles coffee market, could raise prices in US

By Marcelo Teixeira and May Angel NEW YORK (Reuters) -The 50% tariff that the Trump administration has slapped on Brazilian imports has rattled the global coffee market and could make the price of a cup of coffee in the U.S. jump beyond recent highs. Brazil is the world's largest grower and exporter of coffee, while the U.S. is its biggest client and the world's largest drinker of the beverage,

2025-07-10T23:03:15Z

Seven & i posts stronger profit boosted by overseas convenience stores

By Sam Nussey TOKYO (Reuters) -Japan's Seven & i Holdings said on Thursday operating profit rose 9.7% in the March to May quarter, beating analysts' estimates, on an improved performance by its overseas convenience stores business. The 7-Eleven operator is under pressure to improve its finances in the face of a $47 billion takeover bid from Canada's Alimentation Couche-Tard. Profit in the first

2025-07-10T10:23:20Z

Stocks edge higher, Brazilian real bounces as investors weigh Trump's latest tariff moves

By Caroline Valetkevitch NEW YORK (Reuters) -Stock indexes rose on Thursday, with investors weighing the latest trade announcements from U.S. President Donald Trump, while the Brazilian real recovered some losses following Trump's announcement of a 50% tariff on goods from Brazil. Helping Wall Street stocks, Delta Air Lines jumped 12% after it forecast third-quarter and full-year profits above

2025-07-10T20:03:11Z

Froot Loops maker WK Kellogg soars 50% after reports Italy's Ferrero nearing buyout

(Reuters) -WK Kellogg's shares soared nearly 50% in premarket trading on Thursday after a source told Reuters the Italian candy maker behind Ferrero Rocher is nearing a deal to buy the firm, uniting two of the world's most recognizable consumer food companies. Shares of the Battle Creek, Michigan-based company hit $26.10, their highest level since the firm - which makes the popular Fruit Loops

2025-07-10T09:18:33Z

US private jet buyer backs record Embraer deal as tariff turmoil hits Brazil planemaker

By Gabriel Araujo and Allison Lampert SAO PAULO (Reuters) -Private jet operator Flexjet, a key U.S. customer of Embraer, suggested on Thursday it would stand by a record deal with the Brazilian planemaker despite turmoil from fresh trade tensions between the U.S. and the South American country. U.S. President Donald Trump said on Wednesday he would impose a 50% tariff on all imports from Brazil,

2025-07-10T23:03:16Z

Panasonic to postpone US EV battery plan on slow Tesla sales, Nikkei says

TOKYO (Reuters) -Panasonic Holdings will postpone its plan to bring its new U.S. electric vehicle battery plant to full capacity by March 2027 as Tesla, its main customer, is experiencing sluggish sales, the Nikkei business daily reported on Friday. The new target date to reach full production of 30 gigawatt-hours at the $4 billion plant in the U.S. state of Kansas has yet to be fixed, the Nikkei

2025-07-11T04:03:08Z

Holders of Venezuelan bond ask New York court to protect their rights

By Marianna Parraga (Reuters) -Holders of a key bond defaulted by Venezuela's state oil company PDVSA asked a New York judge on Thursday to ensure they can claim compensation from proceeds expected in an auction of shares in the parent of Venezuela-owned U.S. refiner Citgo Petroleum. The holders' case in New York about the validity of their claim against Venezuela has not been resolved, but if

2025-07-10T19:03:06Z

BMW shares rise 4% after positive pre-close earnings call

MILAN (Reuters) -Shares in BMW climbed on Thursday after the German automaker held a well-received pre-close earnings call. Shares in the German premium carmaker were up 4.4% at 1359 GMT. An analyst said BMW confirmed on the call its 5-7% auto margin for both the second quarter and the full year. This is "a strong signal - particularly as the guidance was maintained despite ongoing tariff

2025-07-10T14:43:20Z

Trump says 50% tariff on copper imports will begin Aug. 1

Trump wrote on Truth Social that he made the decision after receiving a national security assessment.

2025-07-10T00:38:57Z

BMW posts modest Q2 sales increase on growing demand in Europe, US resilience

By Amir Orusov (Reuters) -German carmaker BMW reported a modest increase in second-quarter deliveries on Thursday, as growing demand in Europe offset a slump in China, with the U.S. market showing resilience. In the April-to-June period, deliveries of BMW, MINI and Rolls-Royce vehicles increased by 0.4% year on year to 621,271 units, the company said. BMW & MINI sales rose by 10.1% in Europe

2025-07-10T10:23:10Z

Walmart recalls Ozark Trail bottles after three reported injuries

(Reuters) -Walmart said on Thursday it has recalled its Ozark Trail water bottles following reports of three injuries caused by the product. The company recalled about 850,000 bottles over risk of the lid forcefully ejecting when consumers try to open the product after storing food or beverages for a long period, the U.S. Consumer Product Safety Commission said in a separate statement. There

2025-07-10T21:03:09Z

Polestar's quarterly EV sales jump as offers attract more buyers

(Reuters) -Polestar reported a surge in second-quarter sales on Thursday, as offers and discounts helped boost sales in its home market of Europe amid a challenging macroeconomic environment. The Sweden-based company sold an estimated 18,049 vehicles in the second quarter, it said, a rise of 38% from the same quarter last year. Demand for Polestar's electric vehicles has remained resilient

2025-07-10T11:28:15Z

Japan PM Ishiba urges less US dependence as Tokyo faces new tariffs

TOKYO (Reuters) -Japanese Prime Minister Shigeru Ishiba said on Thursday his country needed to wean itself from U.S. dependence in such key areas as security, food and energy, as Tokyo faces the prospect of new U.S. tariffs in three weeks. "If they think Japan ought to follow what America says as we depend heavily on them, then we need to work to become more self-sufficient in security, energy

2025-07-10T14:43:16Z

Brazil's Lula pledges retaliation to Trump tariffs but keeps diplomacy open

By Fabio Teixeira, Ricardo Brito and Luciana Magalhaes BRASILIA (Reuters) -President Luiz Inacio Lula da Silva said he wanted to find a diplomatic solution to U.S. President Donald Trump’s threat of 50% tariffs on Brazilian exports, but vowed to reciprocate like-for-like if they take effect on August 1. "We'll first try to negotiate, but if there's no negotiation, the law of reciprocity will be

2025-07-10T20:03:22Z

Copper output from Chile's Codelco climbs 17% in May

SANTIAGO (Reuters) -Copper production from Chilean state-run miner Codelco ticked up some 16.5% year-over-year in May, data from copper commission Cochilco showed on Thursday, climbing to 130,100 metric tons. Codelco is the world's largest miner of the red metal. Meanwhile production at BHP's Escondida mine, the world's largest copper mine, leaped some 24.4% to 132,000 tons. At Collahuasi,

2025-07-10T19:03:06Z

Nike names insider new Converse CEO after Jared Carver steps down

(Reuters) -Nike said in an internal memo seen by Reuters on Thursday that Jared Carver, president and CEO of Converse, would step down and be succeeded by longtime company executive Aaron Cain. Nike is in the midst of realigning its business by sport across its Nike, Jordan and Converse brands. It has faced sluggish sales growth and mounting competition in the global athletic wear market,

2025-07-10T23:03:11Z

Bitcoin hits another record high

NEW YORK (Reuters) -Bitcoin rallied to all-time highs on Thursday, powered by demand from institutional investors and friendly policies of U.S. President Donald Trump's administration. The world's largest cryptocurrency rose to a peak of $116,046.44 as of 2127 GMT, breaking the $113,734.64 record scored earlier on Thursday. It is now up about 24% this year. In March, Trump signed an executive

2025-07-10T22:03:09Z

Ford agrees voluntary redundancies for troubled e-car site in Cologne

By Rachel More BERLIN (Reuters) -Ford has agreed to a job protection scheme at its Cologne plant covering over 10,000 workers, with voluntary redundancies planned in response to the sluggish uptake of electric cars, the company and German employee representatives said on Friday. Ford has been undergoing a painful restructuring in Europe, with cuts in Cologne and the upcoming closure of its

2025-07-11T10:03:05Z

Asians are avoiding trips to the U.S. this year — for a variety of reasons

Tariffs and border detentions are prompting some travelers to avoid the U.S. this year. But many in Asia say they're more concerned about safety than politics.

2025-07-10T23:20:06Z

Bitcoin soars to all-time peak just shy of $112,000

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -Bitcoin climbed to an all-time high near $112,000 late on Wednesday, bolstered by an increased risk appetite and persistent institutional demand as traditional financial market players embraced the world's largest cryptocurrency. It touched a record peak of $111,988.90 and was last up 0.4% at $111,259. Since the beginning of the year, bitcoin has

2025-07-10T12:33:20Z

Fed's Daly says two rate cuts remain on the table for this year

NEW YORK (Reuters) -Federal Reserve Bank of San Francisco President Mary Daly said on Thursday the time to cut rates is nearing, without saying when she believes that should happen. “I really am of the view that it’s time” to weigh the need to cut rates “to ensure” the economy stays in the good place where it currently resides, Daly said at an event held by Market News International. “I see two

2025-07-10T19:03:03Z

Conagra forecasts downbeat annual profit on tariff hit

(Reuters) -Slim Jim snack maker Conagra Brands forecast annual profit below expectations on Thursday, anticipating higher costs of ingredients due to U.S. tariffs. Macroeconomic uncertainties due to U.S. President Donald Trump's trade tariffs have lowered consumer spending. More people are choosing cheaper private-label brands over Conagra's products. The trend could accelerate as Conagra hikes

2025-07-10T12:33:13Z

Huawei eyes greater role in Brazil data center market

RIO DE JANEIRO (Reuters) -Chinese tech giant Huawei is interested in strengthening and improving its capacity as a supplier of data center solutions, it said in a statement to Reuters on Thursday, clarifying that it did not intend to invest directly in data centers. Reuters had reported on Wednesday that Huawei was interested in Brazil's data center market but was waiting on the government to

2025-07-10T20:03:11Z

Flutter buys Boyd Gaming's 5% stake in FanDuel for $1.76 billion

(Reuters) -Flutter Entertainment will buy Boyd Gaming's 5% stake in FanDuel for about $1.76 billion, giving it complete ownership of the online betting operator, the companies said on Thursday. The deal gives FanDuel an implied valuation of about $31 billion, Flutter said in a statement. FanDuel is the largest online sports betting platform in the U.S. with a 43% market share. The companies

2025-07-10T22:03:10Z