By Michael S. Derby NEW YORK (Reuters) -Total household debt levels rose during the second quarter as a growing number of student loan borrowers and some newer home borrowers faced rising credit challenges. The Federal Reserve Bank of New York said on Tuesday as part of its latest Quarterly Report on Household Debt and Credit …
NY Fed flags rise in student loan borrowing troubles in second quarter Read More »
By Isla Binnie and Niket Nishant (Reuters) -Apollo Global Management beat second-quarter profit expectations on Tuesday, helped by record fee-related earnings and fresh cash inflow from investors during a turbulent period marked by President Donald Trump’s tariff salvos. Shares of the investment giant rose nearly 2.3% to $145.28. Founded in 1990 with a focus on …
Apollo tops profit estimates on strong fee-related earnings, inflows Read More »
By Nathan Gomes (Reuters) -Caterpillar warned on Tuesday U.S. tariffs would pose significant challenges in the second half of the year and cost the construction equipment maker up to $1.5 billion in 2025. Sweeping tariffs have pushed up costs across the company’s supply chain as it imports crucial components including sensors for its products, even …
Caterpillar warns of $1.5 billion hit as tariffs to hurt profit more in second half Read More »
(Reuters) -Wells Fargo Investment Institute on Tuesday downgraded U.S. small-cap equities to “unfavorable” from “neutral”, pointing to its heavy tariff exposure, elevated interest rates and weak earnings record. The broader U.S. equity market has rebounded on easing trading tensions and strong corporate earnings since hitting its lows in April following Trump’s “Liberation Day” tariffs. However, …
Wells Fargo downgrades US small-cap equities to ‘unfavourable’ Read More »
By David Shepardson WASHINGTON (Reuters) -OpenAI’s ChatGPT, Google’s Gemini and Anthropic’s Claude have been added to a list of approved AI vendors, the U.S. government’s central purchasing arm said on Tuesday, as the Trump administration aims to boost AI’s use by federal agencies. Tuesday’s approvals by the General Services Administration (GSA) are part of a …
US agency approves OpenAI, Google, Anthropic for federal AI vendor list Read More »
By Siddarth S and Akriti Shah (Reuters) -Palantir Technologies shares surged nearly 9% in early trading on Tuesday, after the company lifted its annual revenue forecast for the second time this year, banking on strong demand for its AI-related services from governments and companies. Investors have been betting big on the data analytics and defense …
Palantir shares jump as soaring AI demand powers forecast upgrade Read More »
By Aishwarya Jain (Reuters) -Hotel operator Marriott International cut its full-year forecast for revenue growth and profit on Tuesday, signaling challenges from slow travel demand in the U.S. amid looming economic uncertainties. American consumers have been cutting back on discretionary expenses, including travel, after U.S. President Donald Trump’s shifting tariff policies and the resulting trade …
Marriott scales back 2025 forecast as US travel demand remains dour Read More »
WASHINGTON (Reuters) -President Donald Trump said on Tuesday the U.S. was close to a trade deal with China and that he would meet his Chinese counterpart Xi Jinping before the end of the year if an agreement is struck. “He asked for a meeting, and I’ll end up having a meeting before the end of …
Trump says he will meet China’s Xi if a trade deal is struck Read More »
By Abhirup Roy SAN FRANCISCO (Reuters) -A court verdict against Tesla last week, stemming from a fatal 2019 crash of an Autopilot-equipped Model S, could hurt its plans to expand its nascent robotaxi network and intensify concerns over the safety of its autonomous vehicle technology. A Florida jury ordered Musk’s electric vehicle company on Friday to …
(Reuters) -Fox Corp topped Wall Street estimates for quarterly revenue and profit on Tuesday, driven by a surge in advertising, affiliate fee and continued growth at its free ad-supported streaming service, Tubi. The company also announced a $5 billion increase to its share repurchase authorization. The owner of Fox News saw revenue from affiliate fee …
Fox beats quarterly estimates, boosts buyback by $5 billion Read More »
