Reported 9 days ago
BBVA has confirmed its intention to continue with its hostile takeover bid for Sabadell, even after the Spanish government mandated a three-year merger restriction. This move follows the competitive interest from rivals Santander and Barclays in Sabadell's British division, TSB. Analysts view BBVA's decision as strategic, aiming to secure influence over Sabadell while navigating regulatory requirements that prioritize job and customer protection.
Source: YAHOO
Reported 9 days ago
Microsoft's AI diagnostic tool, MAI-DxO, has been shown to diagnose up to 85% of medical cases accurately, surpassing the accuracy rate of experienced physicians by more than four times. The findings suggest that the integration of AI in healthcare could revolutionize medical diagnostics while maintaining the essential role of physicians in treatment planning and oversight.
Source: YAHOO
Reported 9 days ago
A hacker hired by Mexico's Sinaloa cartel, led by Joaquín 'El Chapo' Guzmán, spied on a U.S. Embassy official's phone in 2018 to identify informants to target for assassination, according to a U.S. government report. The hacker accessed call logs, location data, and even surveillance footage to track the official's meetings, leading the cartel to intimidate or kill potential witnesses. The incident occurred while the FBI was investigating El Chapo, highlighting the escalating surveillance tactics used by both law enforcement and cartels in Mexico.
Source: YAHOO
Reported 9 days ago
Former Meta engineers have created Airial, an AI-powered platform designed to manage and plan every detail of travel itineraries. Users can input trip details and receive curated plans, including flights, accommodations, and daily activities. By leveraging extensive travel data, Airial allows for personalized travel recommendations, interactive maps, and social sharing features. The startup has already gained significant interest, securing $3 million in seed funding, and aims to enhance user experience through mobile apps and vertical search functionality.
Source: YAHOO
Reported 9 days ago
U.S. equities rose at midday, with the S&P 500 and Nasdaq hitting new highs due to optimism about upcoming trade deals. Hewlett Packard Enterprise finalized its $14 billion acquisition of Juniper Networks, boosting its stock along with Juniper's. Moderna's shares gained from positive flu vaccine trial results, while Tesla and renewable energy stocks fell amid proposed cuts to energy tax credits in the Senate budget bill.
Source: YAHOO
Reported 9 days ago
Citi anticipates that gold prices will stabilize between $3,100 and $3,500 per ounce in the third quarter of 2025, citing geopolitical easing in the Middle East and a positive global growth outlook as key factors. The bank noted a significant price drop of over $100 per ounce since revising its short-term price target downward to $3,300. They predict that the gold market deficit will peak in Q3 before a predicted decline in demand drives prices down to $2,500 to $2,700 per ounce by late 2026, advising gold producers to hedge against potential price drops.
Source: YAHOO
Reported 9 days ago
The Senate's new bill promoting clean energy has made significant amendments, including expedited cuts to clean energy credits and new taxes on companies using Chinese parts, which contribute to an estimated $3.3 trillion cost over the next decade. This figure represents nearly $900 billion more than the earlier House version, intensifying debates about its financial implications as lawmakers push forward towards final approval.
Source: YAHOO
Reported 9 days ago
Elon Musk recently criticized a new taxation-and-spending bill in Congress, claiming it would harm the U.S. energy sector and cost millions of jobs. Unlike previous comments that stirred conflict with President Trump, Musk's latest remarks were more focused and avoided personal attacks. Following his criticism, Tesla's stock has seen a less severe decline compared to earlier this month, and Wall Street analysts are now cautiously optimistic as they await key delivery numbers and the anticipated rollout of Tesla's robotaxi operation.
Source: YAHOO
Reported 9 days ago
The U.S. Supreme Court has ordered a reevaluation of decisions supporting transgender rights related to healthcare and birth certificates, following a ruling that permits states like Tennessee to prohibit transgender minors from receiving certain medical treatments. The Court also directed appeals courts to review cases in North Carolina and West Virginia regarding transgender healthcare coverage and amendments to birth certificates, while postponing action on laws banning transgender athletes from competing in women’s sports.
Source: YAHOO
Reported 9 days ago
At TechCrunch Disrupt 2025, a panel featuring venture and AI innovation experts will outline how to effectively prepare for late-stage funding before meeting investors. Scheduled for October 29, this session will provide essential insights and strategies for founders to create meaningful narratives and track key metrics to secure significant investment. Join industry leaders and gain invaluable advice at one of the year's key tech conferences.
Source: YAHOO
Reported 9 days ago
As tariffs imposed by President Trump are expected to impact inflation in the coming months, economists remain skeptical due to currently subdued price increases. The Federal Reserve faces pressure from the Trump administration to lower interest rates, with key upcoming reports on jobs and consumer prices set to shape the Fed's strategy. The situation is complicated by debates within the Fed and varying forecasts about the tariffs' long-term effects, as the labor market shows resilience in light of these trade tensions.
Source: YAHOO
Reported 9 days ago
Lululemon has filed a lawsuit against Costco for allegedly selling unauthorized versions of its $128 pants and other athleisure items under its Kirkland brand. The lawsuit, claiming that Costco's products infringe on Lululemon's designs and confuse consumers, seeks unspecified monetary damages and a court order to halt the sales. Lululemon emphasizes its commitment to protecting its intellectual property amidst rising competition and changing market dynamics.
Source: YAHOO
Reported 9 days ago
IonQ's stock saw a 9% increase after the Texas legislature approved a bill it supported to establish Texas as a key player in quantum technology. The Texas Quantum Initiative aims to create a strategic plan for advancing quantum computing and innovation in the state, signaling a shift towards integrating quantum tech into various sectors, as stated by Representative Giovanni Capriglione.
Source: YAHOO
Reported 9 days ago
A successful hedge fund strategy focused on insurance-linked securities is now capitalizing on the rapidly growing parametric insurance market, which provides quick payouts based on specific weather-related metrics. This market, once limited to small businesses and farmers, is now attracting major corporations due to the challenges presented by climate change. As investment funds integrate parametric models, such as the Lumyna-Twelve Capital Parametric ILS Fund, they aim for returns that surpass traditional catastrophe bonds while addressing the increasing corporate demand for innovative insurance solutions.
Source: YAHOO
Reported 9 days ago
The proposed tax bill could significantly increase the national deficit, raising concerns among economists about its adverse effects on the US economy. Jennifer Lee, a senior economist at BMO Capital Markets, warns that soaring debt and interest costs may hurt consumer spending and complicate the Federal Reserve's future decisions, particularly regarding interest rates. The ongoing fiscal challenges are expected to contribute to higher borrowing costs for consumers, posing risks to the economy in the long term.
Source: YAHOO
Reported 9 days ago
Home Depot's SRS Distribution has announced its agreement to acquire GMS, a specialty building products distributor, for approximately $4.3 billion. This acquisition aims to strengthen Home Depot's position in the contractor market amid growing competition from rivals like QXO, which had made a competing offer. The deal, which represents a premium for GMS shareholders, will enhance SRS's distribution network across North America and is expected to close by the end of fiscal 2025.
Source: YAHOO
Reported 9 days ago
Despite recent record highs in US stock markets, Wall Street is expressing concerns due to signs of market fragility. Analysts note a widening performance gap between large and small-cap stocks, and many strategists are projecting a more bearish outlook for the economy. Key risks highlighted include slowing consumer demand and the potential for delayed Federal Reserve interest rate cuts. Additionally, while Bitcoin is thriving, gold prices have pulled back amid easing geopolitical tensions.
Source: YAHOO
Reported 9 days ago
Republican leaders are racing to address ongoing internal disputes over President Trump's substantial tax and spending package as Democrats aim to capitalize on these divisions. The Senate remains divided on critical cuts to Medicaid and social safety programs, while Democrats plan to propose amendments during an extended voting session to highlight contentious provisions. With a $3.3 trillion plan at stake, Republicans must garner sufficient support to avoid political backlash in the upcoming midterm elections.
Source: YAHOO
Reported 9 days ago
US stocks saw gains on Monday, with the Dow, S&P 500, and Nasdaq indices rising as optimism spread regarding progress in trade negotiations between the US and Canada, especially after Canada scrapped a tax targeting US tech companies. This move, along with discussions around a significant tax cut proposed by Trump, encouraged investors ahead of a busy week that includes an important jobs report. Despite some volatility, major stock indexes are approaching all-time highs, driven by the easing of trade tensions and ongoing market excitement.
Source: YAHOO
Reported 9 days ago
In a recent interview, President Trump announced he does not plan to extend the July 9 tariff deadline for countries negotiating trade deals with the US. Meanwhile, Canada has withdrawn its planned digital services tax targeting US tech firms to revive stalled trade talks. Treasury Secretary Scott Bessent warned that non-compliant countries risk facing increased tariffs, while ongoing negotiations with multiple nations aim to solidify trade agreements before the looming deadline.
Source: YAHOO
Reported 9 days ago
AbbVie announced its acquisition of Capstan Therapeutics, a developer of CAR-T cell therapies, for up to $2.1 billion as part of its strategy to enhance its product pipeline for treating autoimmune diseases. This purchase follows AbbVie's significant investment in acquisitions after the loss of patent protection for its leading rheumatoid arthritis drug, Humira. The deal is expected to strengthen AbbVie's position in the competitive landscape of inflammatory disease treatments.
Source: YAHOO
Reported 9 days ago
In a surprising turn of events, last-minute modifications to President Trump's pivotal legislation have alarmed the clean energy industry, including figures like Elon Musk. The adjustments not only expedited the phase-out of clean energy tax credits and introduced taxes on renewable projects but also unveiled support for fossil fuels, contributing to a nearly $1 trillion increase in the bill's cost. As Senate leaders brace for a crucial vote, concerns mount over the potential damage to clean energy investments and the overall fiscal impact of the bill on the national debt.
Source: YAHOO
Reported 9 days ago
Wall Street analysts expressed mixed opinions on Circle after its significant IPO as concerns grew over its high valuation. Following its debut at $69 per share, Circle saw its stock price more than double, leading to notable ratings from brokerages. While some analysts predicted robust growth and adoption of the stablecoin sector, others cautioned about the risks associated with its inflated valuation, highlighting a stark contrast in outlook within the investment community.
Source: YAHOO
Reported 9 days ago
Despite a new US-UK trade deal reducing tariffs on various industries, the UK's steel sector continues to face a 25% tariff. While automotive and aerospace industries benefit from lower tariffs, the overall economic outlook remains uncertain as the British pound's recent gains are largely attributed to dollar weakness amidst ongoing questions about future trade dynamics.
Source: YAHOO
Reported 9 days ago
An analysis by DataWeave reveals that prices for China-made goods on Amazon have been rising more rapidly than the overall inflation rate in the U.S., suggesting that tariffs are starting to affect consumers. Between January and mid-June, the median price for a selection of over 1,400 products increased by 2.6%, with notable hikes in categories like electronics and home goods. As retailers adjust to higher costs caused by tariffs, some companies, including Walmart and Nike, have announced price increases, raising concerns about consumer spending amidst weakening sentiment.
Source: YAHOO