Editor (Reuters) – Shares of Tesla gained nearly 6% on Monday, after a key Wall Street brokerage added the stock to its watch list ahead of the automaker’s quarterly production and delivery report on Tuesday. At $209.38, Tesla could add $36.68 billion to its market value if the price holds, which would mark the fifth straight session of stock gains. A slump in demand for electric vehicles and competition from Chinese rivals such as BYD has … Read more…
PARIS (Reuters) – Airbus delivered a preliminary total of around 67 airplanes in June, bringing the total for the first half of the year to around 323 aircraft, up 2% from the same period last year, industry sources said on Monday. Airbus, which last week cut its delivery forecast for the full year to 770 planes from 800 amid supply chain concerns, declined to comment ahead of the release of monthly and half-yearly data expected … Read more…
By Steve Holland, Tim Reid and David Morgan RALEIGH, North Carolina (Reuters) -President Joe Biden said on Friday he intended to defeat Republican rival Donald Trump in the November presidential election, giving no sign he would consider dropping out of the race after a feeble debate performance that dismayed his fellow Democrats. “I know I’m not a young man, to state the obvious,” an ebullient Biden said at a rally one day after the head-to-head … Read more…
FRANKFURT (Reuters) – Swiss food giant Nestle is targeting stable growth in sales volumes from the second quarter throughout the remainder of the year as cost inflation eases, its CEO told Swiss weekend paper “Schweiz am Wochenende” on Saturday. “From the second quarter and for the rest of the year, we can expect a stable, positive contribution to growth from volume and product mix,” Markus Schneider was quoted as saying by the newspaper. The maker … Read more…
(Reuters) -The U.S. Army awarded Lockheed Martin a multi-year contract worth $4.5 billion for its air defense Patriot Missiles system, the Pentagon said on Friday. The Patriot system is one of an array of sophisticated air defense units supplied by the West to help Ukraine, as it continues its defense against Russia’s invasion. The contract covers 870 PAC-3 MSE missiles and associated hardware. Lockheed is manufacturing the newest version of the interceptors that arm the … Read more…
MANILA (Reuters) – The World Bank said on Saturday its board of executive directors has approved $1.25 billion in loans for the Philippines’ education and public infrastructure sectors. In a statement, the World Bank said it will extend a $500 million loan for a Philippine project aiming to repair disaster-hit schools in provinces and improve their capacity to operate even after being battered by natural disasters. The World Bank also approved a $750 million loan … Read more…
By Chris Prentice and Pete Schroeder WASHINGTON (Reuters) – The Supreme Court’s move to curb federal agency powers could curtail efforts by the U.S. Securities and Exchange Commission to establish new rules to police Wall Street and invite more litigation, legal experts said in the wake of Friday’s landmark ruling. The court overturned a 1984 precedent that had given deference to government agencies in interpreting laws they administer. The decision raises the specter of fresh … Read more…
(Reuters) – Pershing Square USA, a fund managed by billionaire Bill Ackman, said on Friday it plans to offer shares at $50 each in its initial public offering in New York. Ackman is launching a new investment portfolio that will be available to anyone who can invest in the United States, including retail investors. The fund did not reveal the exact number of shares it will offer. Potential investors need to purchase at least 100 … Read more…
By Stephanie Kelly, Steve Holland and Nandita Bose (Reuters) -U.S. President Joe Biden’s shaky performance against Republican rival Donald Trump on Thursday rattled Democrats and prompted some strategists to ask whether their party should take the unprecedented step of replacing him as their candidate. Biden supporters had hoped Thursday night’s debate would dispel worries that the 81-year-old was too old for another term, but the 90-minute clash appeared to do the opposite. Biden and Trump, … Read more…
(Reuters) – The White House is seeking an additional $4 billion in funding from Congress for disaster needs, including to help rebuild the Baltimore bridge after its collapse and in response to last year’s fires in Maui, the Office of Management and Budget said on Friday. Funds would also help survivors of tornadoes in Iowa, Nebraska, Oklahoma and elsewhere, White House budget director Shalanda Young said in a letter to House Speaker Mike Johnson, also … Read more…