Reported 5 days ago
Source: WSJ
Reported 5 days ago
European Union antitrust regulators are set to decide by June 25 on Mars' proposed $36 billion acquisition of Kellanova, the owner of Pringles. Announced last August, the merger aims to consolidate major brands under Mars, as the U.S. packaged food industry faces ongoing consolidation pressures amid changing consumer habits. Regulatory approval could come without major issues, although some European retailers have expressed concerns that might require concessions.
Source: YAHOO
Reported 5 days ago
Qatar Airways has reported a record profit of $2.15 billion for its last fiscal year, driven by high passenger numbers as the aviation industry recovers from the pandemic. The airline's revenues increased to $23.4 billion from $22.1 billion the previous year, marking a significant rise in profitability from $1.6 billion in the prior period. CEO Badr Mohammed al-Meer credited the achievement to the dedicated efforts of the Qatar Airways Group team, as the carrier continues to play a vital role in global travel connections, particularly following its role in hosting the 2022 FIFA World Cup.
Source: YAHOO
Reported 5 days ago
Moody's recent downgrade of the US sovereign credit rating has amplified investor fears regarding the country's escalating $36 trillion debt, potentially inciting bond market investors to call for stricter fiscal measures. This downgrade, the last among major ratings agencies, raises concerns about higher borrowing costs, especially as Congress negotiates a sweeping tax-cut bill that could significantly increase national debt. Market specialists warn that without rigorous fiscal reforms, the US may continue on an unsustainable financial path.
Source: YAHOO
Reported 5 days ago
Spain's consumer rights ministry has mandated Airbnb to remove more than 65,000 holiday rental listings due to violations of local regulations. This move is part of a broader effort by the Spanish government, municipal authorities, and regional officials to regulate tourism rentals, which are seen as contributing to excessive tourism and housing affordability issues for locals. Many of the affected listings lacked proper licensing, prompting a drive to enhance oversight and protect consumer rights.
Source: YAHOO
Reported 5 days ago
Treasury Secretary Scott Bessent indicated that if countries fail to negotiate trade deals with the US during a 90-day pause, tariffs could revert to 'reciprocal' levels. He emphasized that Walmart's price hike warning due to tariffs was a 'worst-case scenario.' Meanwhile, President Trump urged Walmart to absorb tariff costs rather than raising prices and expressed his intention to set tariff rates for trading partners soon.
Source: YAHOO
Reported 5 days ago
Source: BARRONS
Reported 5 days ago
Source: WSJ
Reported 5 days ago
US stocks dropped on Monday after Moody's downgraded the US credit rating from Aaa to Aa1, reflecting concerns over rising deficits and debt refinancing amidst high interest rates. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all fell, with Treasury yields increasing in response. Treasury Secretary Scott Bessent issued warnings regarding tariffs while the market awaited upcoming earnings reports from major retailers and tech companies.
Source: YAHOO
Reported 5 days ago
Qualcomm announced plans to create custom data center processors that will integrate Nvidia's technology to enable faster communication with Nvidia's AI chips. This move marks Qualcomm's return to the data center CPU market, a sector it had previously stepped back from amidst various challenges. The collaboration aims to combine Qualcomm's processor capabilities with Nvidia's dominant graphics and AI technology, enhancing performance in high-efficiency computing.
Source: YAHOO
Reported 5 days ago
Slovak startup InoBat has announced the launch of its new battery, the E10 cell, designed specifically for military drones and unmanned aerial systems. Set to begin production in September, this battery features rapid charging, enhanced payload capacity, and extended flight time, responding to the rise in European defense spending. CEO Marian Bocek noted that the move toward military-focused battery solutions represents a natural evolution for the company, which has previously specialized in electric vehicle batteries.
Source: YAHOO
Reported 5 days ago
Xiaomi is preparing to launch its highly-anticipated YU7 electric sports utility vehicle on Thursday, which is being positioned as a competitor to Tesla's Model Y in China's burgeoning electric vehicle market. Alongside the YU7, Xiaomi will introduce other products, including the Xring O1 mobile chip and the Xiaomi 15S Pro smartphone. Despite earlier setbacks and a fatal incident involving its SU7 sedan, which has outperformed Tesla’s Model 3, the company is committed to significant investments in chip development and EV manufacturing.
Source: YAHOO
Reported 5 days ago
Ryanair has reported strong consumer demand across Europe, anticipating a rebound in airfare that could recover much of last year's decline due to high interest rates impacting profits. CEO Michael O'Leary noted a forecasted fare increase of around 7%, surpassing previous estimates, with summer bookings slightly ahead of last year. The airline, Europe's largest by passenger numbers, expects to fly 206 million passengers in the coming year, while managing modest cost inflation amid ongoing delivery issues with Boeing.
Source: YAHOO
Reported 5 days ago
Nvidia CEO Jensen Huang is receiving an overwhelming, hero-like reception in Taiwan during his visit for the Computex trade show. Fans and media closely follow him, eager for his engagement, recalling his native roots in Tainan. His popularity, dubbed 'Jensanity' by local media, is evident as he attends high-profile events, signs memorabilia, and connects with Taiwanese youths, contrasting sharply with his relative anonymity in the U.S. Huang's charm even attracts political attention, underscoring his influence and the deep admiration he commands in Taiwan.
Source: YAHOO
Reported 5 days ago
Capital One Financial Corporation has enhanced its position in the credit card market by acquiring Discover Financial Services for $35 billion, creating the largest credit card firm by loan volume. Despite concerns from lawmakers about reduced competition and potential harm to low-income customers, the merger allows both companies to maintain their products while ensuring community support through a $265 billion Community Benefits Plan.
Source: YAHOO
Reported 5 days ago
Source: BARRONS
Reported 5 days ago
Source: BARRONS
Reported 5 days ago
Moody's has downgraded the US government's credit rating from Aaa to Aa1, pushing 30-year Treasury yields above the psychological 5% mark. This downgrade raises concerns over the US debt and could complicate economic stability as lawmakers continue to propose unfunded tax cuts amidst a growing budget deficit, set to reach nearly 9% of GDP by 2035. Market responses include a decline in S&P 500 futures and skepticism regarding the dollar's strength, as investors assess the implications of rising Treasury yields on the financial landscape.
Source: YAHOO
Reported 5 days ago
Source: WSJ
Reported 5 days ago
China's factory output showed unexpected resilience in April, growing 6.1% year-on-year despite slowing from March's 7.7% and surpassing forecasts. This suggests government support may have mitigated tariff impacts from the U.S. Conversely, retail sales rose only 5.1%, below expectations, indicating consumer demand is weak. While a recent agreement to rollback tariffs offers some hope, economic analysts warn of ongoing pressures in China's economy, particularly in foreign trade and the property sector.
Source: YAHOO
Reported 5 days ago
At Computex 2025, Nvidia announced its foray into humanoid robotics with the launch of Nvidia Isaac GR00T-Dreams, aimed at helping developers generate training data for robots. The company also introduced NVLink Fusion, allowing custom AI server configurations, and showcased RTX Pro Blackwell servers for efficient workloads. Furthermore, Nvidia revealed DGX Cloud Lepton for cloud-based AI processing, amidst recent concerns over semiconductor tariffs and export controls affecting its operations.
Source: YAHOO
Reported 5 days ago
Source: WSJ
Reported 5 days ago
Gold prices rose as the dollar fell following Moody's downgrade of the US government's credit rating from Aaa to Aa1, citing the government's ongoing budget deficit issues. The decline in the dollar typically boosts gold prices, making it cheaper for international buyers. Despite recent volatility, including a significant weekly loss, gold has still seen a notable rise this year due to various global factors. Experts anticipate continued fluctuations in gold prices influenced by both positive and negative news.
Source: YAHOO
Reported 5 days ago
The article discusses the challenges faced by China in shifting from an export-driven economy to one based on domestic consumption, highlighted by disappointing retail sales. Meanwhile, U.S. policies under President Trump aim to pressure Chinese consumers to buy more, while stressing that American consumers may have to deal with fewer imported goods due to high tariffs. The latest U.S. tax cut proposals could further complicate the economic landscape, contributing to a decline in Wall Street futures and raising concerns among foreign investors.
Source: YAHOO
Reported 5 days ago
Argus Research has decreased its price target for Targa Resources Corp. (TRGP) from $250 to $190 while maintaining a Buy rating. The revision follows the company’s disappointing Q1 2025 results, where EPS fell short at $0.91 compared to expectations of $1.98, and revenue was below forecasts. Despite this, Targa is anticipated to exceed its EBITDA guidance due to strong production in the Permian basin, and it has increased its dividend and engaged in share repurchases.
Source: YAHOO