Reported about 3 hours ago
Swiss exports to the United States dropped significantly following the introduction of a 39% tariff, with a notable 22% decline in August compared to July. This included a staggering 99% drop in gold exports and an 8.6% decrease in watch sales. While overall Swiss exports were minimally impacted due to increased trade with other countries, the Swiss government is navigating complex negotiations to potentially reduce the tariff amid ongoing economic challenges.
Source: YAHOO
Reported about 4 hours ago
Hyundai Motor plans to produce over 80% of its vehicles for the U.S. market in America by 2030, as it increases capacity at its Georgia factory. The automaker has adjusted its 2025 operating profit margin target from 7-8% to 6-7% due to U.S. tariffs, while still projecting an improvement in profit margins over the coming years. Additionally, Hyundai aims to expand its hybrid lineup and introduce new electric vehicles, despite facing significant tariff costs.
Source: YAHOO
Reported about 4 hours ago
Nuclear energy is emerging as a $10 trillion market opportunity that could address global power shortages, as highlighted in a Bank of America report. By 2050, tripling global nuclear capacity is essential to meet the growing demand driven by energy-intensive sectors like AI and data centers. Investments in nuclear technology, particularly small modular reactors (SMRs), are anticipated to exceed $3 trillion in the next 25 years. With a significant boost in share prices of related companies and a positive shift in public perception, the nuclear sector is being rediscovered as a viable source of clean, reliable, and cost-effective energy.
Source: YAHOO
Reported about 4 hours ago
Octopus Energy announced it will spin off its technology arm, Kraken Technologies, appointing Tim Wan as the new CFO. This move, aimed at enhancing Kraken's independence and growth potential, comes as Octopus Energy focuses on its core operations. Kraken has already secured $500 million in annual revenue through licensing deals with major energy companies. The spin-off is expected to increase the value of the technology group and benefit Origin Energy, a partial owner.
Source: YAHOO
Reported about 4 hours ago
South Korea's HD Hyundai Heavy Industries is in discussions to acquire a U.S. shipyard to boost its naval shipbuilding capabilities in response to the growing demand stemming from U.S. military needs. The company aims to generate 3 trillion won in revenue by 2035 through warship construction for the U.S. Navy, despite facing challenges such as a shortage of skilled labor and restrictive U.S. immigration policies. Hyundai emphasizes the necessity of establishing a manufacturing foothold in the U.S. to competitively address naval shipping demands.
Source: YAHOO
Reported about 4 hours ago
Meta Platforms Inc. introduced its first smart glasses with a built-in screen, the $799 Meta Ray-Ban Display, showcasing text messages, video calls, and AI interactions. The glasses aim to enhance user convenience by integrating hand gesture controls via a neural wristband and supporting various apps like Facebook Messenger and WhatsApp. Set for release on September 30, they mark a significant step in Meta's push into consumer electronics and competition with other tech giants.
Source: YAHOO
Reported about 4 hours ago
Anglo American has announced a reduction of a 'small number' of jobs at its Brisbane office and nearby coal mines as part of efforts to adapt to declining coal prices and increasing operational costs. This follows a similar move by BHP, which cut 750 jobs in the area. Most of the job reductions at Anglo American were achieved through voluntary redundancies, with reports indicating around 200 positions were affected. The company operates five coal mines in Queensland and is focusing on its core copper assets following a significant merger proposal.
Source: YAHOO
Reported about 6 hours ago
This article discusses the significant failed takeover deals in Australia, highlighting a recent withdrawal by a consortium led by Abu Dhabi National Oil Company of its $18.7 billion bid for Santos due to disagreements over terms. It outlines other notable failed acquisitions such as BHP's $49 billion bid for Anglo American and various negotiations involving Woodside Energy, Brookfield, Albemarle, and KKR, emphasizing the persistent valuation disputes and regulatory challenges that have hindered major transactions in the Australian market.
Source: YAHOO
Reported about 6 hours ago
Mars, known for M&M's and Skittles, announced plans to invest €1 billion ($1.18 billion) in its European operations by the end of 2026, focusing on manufacturing, sustainability, and innovation. This investment follows over €1.5 billion already spent in the past five years and will support 24 factories across 10 EU countries, employing 25,000 people. The company is also under scrutiny for its recent $36 billion acquisition of Kellanova, the maker of Pringles.
Source: YAHOO
Reported about 6 hours ago
Barry Callebaut's CEO Peter Feld has indicated the need to lower the company's debt, highlighting the challenges posed by rising cocoa prices and decreased sales volume. In an interview, he mentioned that the company raised prices significantly but faced a decline in sales, prompting discussions with banks and implementation of concrete measures to manage debt levels.
Source: YAHOO
Reported about 7 hours ago
In August, Asian bonds saw their first foreign inflow in three months, with non-native investors purchasing a net $311 million, driven by expectations of U.S. Federal Reserve rate cuts to support a softening labor market. This marks the end of a selling trend, particularly in Indian and Malaysian bonds, although South Korean, Indonesian, and Thai bonds experienced outflows.
Source: YAHOO
Reported about 7 hours ago
Panasonic aims to create a higher-capacity EV battery within two years, potentially enhancing the driving range of electric vehicles significantly. By eliminating the anode during manufacturing, the company hopes to achieve a 25% increase in battery capacity, which could boost the Tesla Model Y's driving range by almost 90 miles. This innovative technology, currently in development, could also lead to lighter and more cost-effective battery options. Panasonic's design includes a lithium metal anode formed post-charge, allowing for increased capacity without enlarging the battery size.
Source: YAHOO
Reported about 7 hours ago
A recent study by Germany's IW economic institute reveals that the United States is becoming increasingly reliant on imports from the European Union, which has overtaken China in both the value and variety of goods imported. Over the past 15 years, the number of product categories where at least 50% of imports come from the EU has risen significantly, reaching over 3,100 in the last year. This shift indicates a potential leverage for EU leaders during trade negotiations with the U.S., as the total import value has surged to $287 billion, highlighting a stark reduction in U.S. dependence on Chinese imports.
Source: YAHOO
Reported about 7 hours ago
Santos Ltd., the Australian oil and gas company, saw its market value plummet by A$3 billion (approximately $2 billion) following the collapse of a $19 billion takeover bid from Abu Dhabi National Oil Co.'s XRG unit. This marks the third unsuccessful sale attempt for Santos, plunging its shares to their lowest point in five years and raising pressure on management to improve shareholder returns or explore restructuring options. CEO Kevin Gallagher faces increasing scrutiny for prioritizing growth over immediate shareholder payouts as the company navigates mounting operational challenges.
Source: YAHOO
Reported about 7 hours ago
Roche has agreed to acquire the U.S. biotech firm 89bio for up to $3.5 billion to enhance its pipeline for treating liver and cardiometabolic diseases, particularly in the growing weight-loss market. The deal includes a purchase of all common shares at $14.50 each and potential milestone payments. This acquisition reflects Roche's commitment to developing therapies for conditions like fatty liver and obesity.
Source: YAHOO
Reported about 8 hours ago
Shein Group Ltd. is offering other fashion brands access to its manufacturing network in China to create new revenue streams amid retail pressures from US tariffs. Brands can utilize Shein's rapid supply chain by partnering with its online marketplace, and the initiative, named Xcelerator, also provides services like sample development and warehousing. This strategic move aims to attract more fashion brands, enhance sales performance, and leverage Shein's extensive supply chain while navigating a competitive environment.
Source: YAHOO
Reported about 8 hours ago
The Federal Reserve's recent decision to cut interest rates has created a cautious outlook among investors. While the cut signals a potential easing cycle, warnings about persistent inflation and mixed messages regarding future rate changes have led to uncertainty about the economic impact. This indecisiveness is reflected in fluctuating market performance and heightened concerns about a possible stagflation scenario.
Source: YAHOO
Reported about 8 hours ago
The Bank of Japan (BOJ) might raise interest rates in October regardless of Sanae Takaichi’s potential leadership win, according to ex-central bank official Tomoyuki Shimoda. While Takaichi favors increased fiscal spending and is against BOJ rate hikes, Shimoda believes the leadership outcome will have minimal influence on monetary policy. He cites that stable corporate profits and ongoing inflation could create a conducive environment for a rate increase during the upcoming BOJ meetings.
Source: YAHOO
Reported about 8 hours ago
In a significant move, the Federal Reserve has reduced its key interest rate for the first time in 2025, marking a pivotal moment in financial news.
Source: YAHOO
Reported about 8 hours ago
The Federal Reserve has announced a quarter-point reduction in its key interest rate and expects to implement two more cuts this year due to rising concerns about the state of the labor market.
Source: YAHOO
Reported about 8 hours ago
The Trump administration is exploring plans to use revenue from tariffs to create a bailout program for U.S. farmers, as discussed by Agriculture Secretary Brooke Rollins in a recent interview. This move comes amid increasing pressure from farm groups due to the adverse effects of trade disputes with China, particularly following China's halt on U.S. soybean purchases. Rollins indicated that financing the bailout with tariff income is a viable option to support the struggling agricultural sector.
Source: YAHOO
Reported about 8 hours ago
Investors are increasingly reallocating their funds from US assets to markets in Europe and Japan, driven by concerns over tariffs, pressure on the Federal Reserve, and a potential weaker dollar, according to Mercer LLC. The firm notes a trend toward diversification among their clients as Trump's policies create uncertainty. Additionally, Mercer identifies interest in private markets linked to the artificial-intelligence boom as a strategic shift for investors.
Source: YAHOO
Reported about 9 hours ago
Burberry is set to showcase its latest designs at London Fashion Week, marking a crucial moment in its turnaround strategy led by CEO Joshua Schulman. By emphasizing British heritage and employing celebrity advocates like Olivia Colman and Liam Gallagher, Burberry aims to reshape its image. Despite previous declines in sales, analysts expect growth to resume this quarter, reflecting confidence in Schulman's leadership and the brand's renewed marketing efforts.
Source: YAHOO
Reported about 9 hours ago
India has become the leading user of Google's Nano Banana image-generation model, showcasing unique local creativity through retro-themed portraits and innovative uses of AI, as highlighted by Google DeepMind's David Sharon. Trends like recreating 1990s Bollywood styles and generating vintage portraits in traditional attire have surged in popularity, propelling the Gemini app to the top of app charts in India. Despite leading in downloads, concerns around privacy and data usage remain as the country navigates its burgeoning role in the AI landscape.
Source: YAHOO
Reported about 9 hours ago
Mexican bottler and retailer Femsa has appointed Jose Antonio Fernandez Garza-Laguera as its new CEO, effective November 1. He will succeed interim CEO Antonio Fernandez Carbajal, who has been in the position since July 2023 and will remain as executive chairman. Garza-Laguera previously served as CEO of Femsa Proximity & Health and has held various management roles within the company. Femsa recently reported decreased net profits due to adverse weather conditions affecting its main market in Mexico.
Source: YAHOO