Reuters US Business

By Kylie Madry MEXICO CITY (Reuters) -Mexican cement producer Cemex posted a double-digit increase in second-quarter profit on Thursday, despite a dip in sales, as its new management rolled out a restructuring program that included thousands of layoffs. Cemex’s profit climbed 38% to $318 million, a bright spot as sales sagged 5% to $4.13 billion, …

Mexico’s Cemex posts double-digit profit rise as restructuring kicks in Read More »

By Arasu Kannagi Basil (Reuters) -Billionaire sports financier Todd Boehly-backed Accelerant was valued at $6.4 billion as its shares jumped 36% in their New York debut on Thursday, underscoring a strong investor appetite for insurance listings. The shares of the specialty insurance marketplace opened at $28.50 apiece, above the $21 offer price. In 2023, the …

Accelerant valued at $6.4 billion in debut as insurance IPOs heat up Read More »

By Ana Mano SAO PAULO (Reuters) -U.S. President Donald Trump’s plan to impose a new 50% tariff on all Brazilian products from Aug. 1 could devastate the South American nation’s citrus belt, as factories scale back production and orange farmers consider leaving fruit to rot amid a sharp drop in prices. “You are not going …

Trump tariffs wreaking havoc in Brazil’s citrus belt Read More »

By Nichola Groom (Reuters) -Singapore-based solar panel manufacturer Bila Solar is suspending plans to double capacity at its new factory in Indianapolis. Canadian rival Heliene’s plans for a solar cell facility in Minnesota are under review. Norwegian solar wafer maker NorSun is evaluating whether to move forward with a planned factory in Tulsa, Oklahoma. And …

Boom fades for US clean energy as Trump guts subsidies Read More »

By Niket Nishant and Isla Binnie (Reuters) -Blackstone is preparing more companies to go public than any other time since the record IPO year of 2021, President and Chief Operating Officer Jon Gray said, in a sign of growing market optimism as equities push higher despite tariff worries. Trade deals by U.S. President Donald Trump …

Blackstone says deal pipeline strongest since 2021 peak as profit beats estimates Read More »

By Aishwarya Venugopal (Reuters) -American Eagle Outfitters surged 10% on Thursday after unveiling a new denim campaign with Sydney Sweeney, as the apparel retailer bets on the “Euphoria” and “The White Lotus” actress to reconnect with Gen Z shoppers and boost sales. The company has partnered with Sweeney for its fall season denim collection that …

‘Great Jeans’: Sydney Sweeney campaign fuels American Eagle rally Read More »

By Jarrett Renshaw and Alexandra Alper (Reuters) -The Trump administration released a new artificial intelligence blueprint on Wednesday that aims to loosen environmental rules and vastly expand AI exports to allies, in a bid to maintain the American edge over China in the critical technology. President Donald Trump marked the plan’s release with a speech …

Trump administration to supercharge AI sales to allies, loosen environmental rules Read More »

By Pritam Biswas (Reuters) -U.S. publisher McGraw Hill was valued at $3.25 billion as its shares opened at par in their New York debut on Thursday, hinting at a mixed response from investors in an otherwise upbeat IPO market. IPO market activity has rebounded strongly following a significant setback earlier in the year caused by …

McGraw Hill valued at $3.25 billion as shares open flat in underwhelming debut Read More »

By Pooja Menon (Reuters) -Dow Inc halved its dividend and forecast third-quarter revenue below analysts’ expectations as the chemicals maker grapples with a prolonged industry downturn and tariff uncertainty, sending its shares down over 16% in early trading. Global chemical companies are feeling the pressure of higher production costs in Europe, lackluster demand and stringent …

Dow forecasts sales below estimates, slashes dividend on downturn, tariff uncertainty Read More »