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Loblaw beats quarterly estimates as Canadian shoppers turn to local and discount brands

24 Jul 2025

(Reuters) -Canadian retailer Loblaw Companies Ltd beat second-quarter revenue and profit estimates on Thursday, driven by strong demand for essential products such as groceries and medicines at its Real Canadian Superstore locations and discount banners, including Maxi. Consumers seeking lower-priced alternatives across categories ranging from food to healthcare have boosted demand for discount retailers such …

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Almost 30% of German companies postpone US investments, survey shows

24 Jul 2025

BERLIN (Reuters) -Almost 30% of German companies with investment plans in the United States have postponed their projects and 15% have cancelled them due to uncertainty over U.S. President Donald Trump’s tariff policy, an Ifo survey showed on Thursday. Domestic investments are also being halted due to tariff uncertainty. Some 21% of the 1,500 companies …

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Hyundai Motor warns of bigger hit from US tariffs after Q2 profit fall

24 Jul 2025

By Hyunjoo Jin, Heekyong Yang and Joyce Lee SEOUL (Reuters) -Hyundai Motor posted a decline in second-quarter operating profit on Thursday as U.S. tariffs on vehicles and parts started to weigh on its bottom line and warned of a bigger impact in the current quarter. Hyundai’s results illustrate the stakes for South Korean officials, who …

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Tesla likely faces ‘a few rough quarters’ from end of US EV support, Musk says

24 Jul 2025

By Akash Sriram and Abhirup Roy (Reuters) -Tesla Chief Executive Elon Musk said on Wednesday that U.S. government cuts in support for electric vehicle makers could lead to a “few rough quarters” for the company before a wave of revenue from self-driving software and services begins late next year. Shares fell nearly 5% after Musk responded …

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Canada’s Teck Resources beats profit estimates for second quarter

24 Jul 2025

(Reuters) -Canadian miner Teck Resources beat second-quarter profit estimates on Thursday, helped by improved profitability at its Trail operations. Teck’s Trail operations, located in British Columbia, is one of the world’s largest fully integrated zinc and lead smelting and refining complexes, according to the company website. The company reported an adjusted profit of 38 Canadian …

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Tesla shares drop almost 6% after results

24 Jul 2025

LONDON/MILAN (Reuters) -Tesla shares fell nearly 6% in early trading in Europe on Thursday, after Elon Musk’s electric vehicle maker posted its worst quarterly decline in sales in over a decade. Shares in the company were down 5.7% in Frankfurt, having dropped 5% in after-hours trading on Wall Street on Wednesday. Tesla’s second-quarter profit missed …

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AI-powered ads to drive growth for global entertainment and media industry, PwC says

24 Jul 2025

By Harshita Mary Varghese -Growing use of artificial intelligence in advertising is expected to boost the global entertainment and media industry’s revenue to $3.5 trillion by 2029, according to PwC. The industry is projected to record a compound annual growth rate of 3.7% until 2029, the consulting firm said in its Global Entertainment & Media …

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Australia relaxes curbs on US beef imports that angered Trump

24 Jul 2025

By Peter Hobson and Renju Jose CANBERRA/SYDNEY (Reuters) -Australia will ease restrictions on beef imports from the United States, the country’s agriculture ministry said on Thursday, potentially smoothing trade talks with U.S. President Donald Trump, who had attacked its rules. Still, the decision, which U.S. Agriculture Secretary Brooke Rollins called a win for Trump, is …

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Goldman to forgo second round of job cuts as outlook improves, FT reports

24 Jul 2025

(Reuters) -Goldman Sachs has decided not to go ahead with a second round of broad performance-based job cuts from its 46,000-strong workforce this year after a better-than-expected recovery in investment banking, Financial Times reported on Thursday. Goldman declined to comment. The bank’s investment banking fees and client engagement have risen alongside continued strength in its …

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