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Spooked U.S. stock market faces tech earnings minefield, Fed meeting

By David Randall NEW YORK (Reuters) – Rattled investors are bracing for earnings from the market’s biggest tech companies, a Federal Reserve policy meeting and closely watched employment data in a week that could determine the near-term trajectory of U.S. stocks following a bout of severe turbulence. A months-long rally in massive tech stocks hit …

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Paris Olympics opening ceremony draws 28.6 million US viewers, most since 2012

By Sheila Dang PARIS (Reuters) – The opening ceremony for the Paris Olympics drew 28.6 million U.S. viewers, according to preliminary data from Comcast’s NBCUniversal on Saturday, which the company said was the most-watched start to a summer Games since London in 2012. The celebration on Friday featured athlete delegations floating down the Seine past …

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Yellen says $3 trillion needed annually for climate financing, far more than current level

By David Lawder BELEM, Brazil (Reuters) – U.S. Treasury Secretary Janet Yellen said on Saturday that the global transition to a low-carbon economy requires $3 trillion in new capital each year through 2050, far above current annual financing, but that filling the gap is the biggest economic opportunity of the 21st century. Yellen said in …

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Australia signs $1.4 billion deal to upgrade navy submarines

SYDNEY (Reuters) – Australia said on Saturday it had signed a A$2.2 billion ($1.4 billion) four-year contract with state-owned submarine builder ASC to upgrade the navy’s Collins class submarines. The “sustainment contract” is part of a government pledge to keep the diesel-electric powered Collins-class fleet “a potent strike and deterrence capability”, Defence Industry Minister Pat …

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US union and Apple reach tentative labor agreement

(Reuters) -The International Association of Machinists and Aerospace Workers (IAM) Coalition of Organized Retail Employees (IAM CORE) reached a tentative agreement with tech giant Apple on Friday over improvement in work-life balance, pay raises and job security. Workers at the Towson, Maryland, Apple retail store will vote on the tentative agreement on Aug. 6. The …

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RFK Jr questions Trump’s recent pro-crypto tone as the two vie for votes

By Stephanie Kelly NASHVILLE (Reuters) – Independent U.S. presidential candidate Robert F. Kennedy Jr on Friday questioned Republican nominee Donald Trump’s recent pro-cryptocurrency stance, as the two vie for votes in November’s election from crypto-holders at the Bitcoin 2024 conference. Trump is set to speak on Saturday at the conference in Nashville, Tennessee, which is …

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Debut of Bill Ackman’s new fund delayed but expected to proceed

By Svea Herbst-Bayliss (Reuters) -The New York Stock Exchange said on Friday that the debut of billionaire investor Bill Ackman’s new U.S. fund, Pershing Square USA, has been delayed, without providing a reason. The initial public offering, which was expected to price on Monday, is now “pending on a date to be announced,” the exchange …

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G20 financial chiefs flag global economic ‘soft landing’, warn of risks from war

By Marcela Ayres and Bernardo Caram RIO DE JANEIRO (Reuters) -G20 financial leaders said on Friday the global economy was likely heading for a “soft landing”, but warned wars and escalating conflicts could endanger this outlook, while more global cooperation could make growth stronger. In a joint communique after a two-day meeting in Brazil, finance …

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Wall St closes up on revival supported by inflation data, tech stocks

By David French (Reuters) -Wall Street’s major indexes ended higher on Friday as investors flocked back to tech megacaps that had triggered broad sell-offs earlier in the week, and inflation data boosted optimism that the Federal Reserve will soon commence cutting interest rates. For the S&P 500 and Nasdaq Composite, the advances could not completely …

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