Volvo Cars' Q2 profit dropped to $298M from $770M as weak demand and U.S. tariffs hit. Margins shrank, and the outlook for Europe's auto sector remains gloomy.
Diageo CEO Debra Crew steps down after two years; CFO Nik Jhangiani named interim CEO as the firm focuses on improving performance and reducing debt.
TSMC posted a record Q2 profit of $13.5B, up 60.7%, beating forecasts as demand for AI chips surged. Key clients include Apple and Nvidia.
Wetland loss could cost the world $39T in benefits by 2050, as 22% have vanished since 1970—the fastest loss of any ecosystem, a global report warned.
GM will shift Cadillac Escalade production to Michigan and boost output of gas-powered Chevy Silverado and GMC Sierra pickups as part of a $4B U.S. investment plan.
Bahrain and U.S. firms signed $17B in deals to boost ties and cooperate in aviation, tech, industry, and investment, Bahrain's state news agency reported.
Big U.S. banks are upbeat on investment banking after Q2 rebound but remain wary of tariffs and the economy. Trading desks gained from market volatility.
Goldman Sachs will fund a $270M project to build 385 affordable apartments in East New York, amid NYC's housing crisis and rising rents.
UK inflation rose to 3.6% in June, the highest in over a year, beating forecasts. It's up from 1.7% last September and near the Bank of England's 3.7% peak estimate.
Trump announced a 19% tariff on Indonesian goods and hinted at more deals, aiming to cut the U.S. trade deficit and target more countries with new tariffs.
Apple will invest $500M in MP Materials to boost U.S. rare earth supply and iPhone production, reducing reliance on China amid U.S. manufacturing push.
Trump said he trusts the UK to defend the U.S. but doubts the EU and NATO, influencing his decision not to sign a trade deal with the EU.
Oracle will invest $3B in AI and cloud in Germany ($2B) and the Netherlands ($1B) over 5 years to meet rising demand, the company announced Tuesday.
Nissan will stop making cars at its Oppama plant by March 2028, moving operations to Fukuoka as part of a global plan to cut production capacity.
Rio Tinto named iron ore head Simon Trott as new CEO, replacing Jakob Stausholm. Trott has been with the company for over 20 years and led key profits since 2020.
Nvidia plans to resume H20 AI chip sales to China, despite U.S. export curbs that could cost $15B. The move follows CEO's visit to Beijing and Trump meeting.
China's economy slowed less than expected in Q2, but weak demand and global risks may force more stimulus as exports fade and consumer confidence stays low.
Mark Zuckerberg will testify in an $8B trial accusing Meta of running Facebook illegally and violating a 2012 FTC deal by mishandling user data.
Nvidia's CEO downplayed U.S. fears over China's military using its chips, saying they can't rely on them. He also called export curbs counterproductive.
China's exports picked up in June, imports rebounded, as firms raced to beat a fragile US-China tariff truce ahead of an August deadline that could revive 100%+ duties.
Australia PM Albanese urges closer China ties on green steel, while pressing Beijing to curb excess output. Iron ore trade to earn Australia A$105B this year.
Apple faces pressure to boost its lagging AI efforts as shares fall 16% in 2024. Investors urge bold moves, including big acquisitions and top AI talent hires.
Bitcoin hit a record $121,207, topping $120K for the first time, as investors eye policy wins. It last traded up 1.6% at $121,015.
A 200% tariff would spike costs, squeeze profits, and disrupt supply chains, risking drug shortages and higher prices even with a delayed start.