Exchange operator CME’s profit beats estimates on record trading volumes

(Reuters) – CME Group reported its second-quarter profit above Wall Street estimates on Wednesday as uncertainty in markets helped the exchange operator notch record trading volumes. Latest economic data showing signs of easing inflation has fueled hopes of a possible rate cut in the current half of the year that has helped markets reach new highs. “As escalating uncertainties drove an increased need for risk management across all asset classes, CME Group achieved record Q2 … Read more…

ASEAN seeks to tackle Myanmar crisis, South China Sea tension

By Stanley Widianto and Martin Petty (Reuters) -The Southeast Asian bloc ASEAN met in Laos on Wednesday as it seeks to advance a stalled bid to resolve a crisis in Myanmar and cool tensions in the South China Sea, days ahead of a gathering of top diplomats from the world’s biggest powers. The meeting of the foreign ministers from the Association of Southeast Asian Nations will be followed by two summits in Laos on Saturday … Read more…

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Israel’s Netanyahu to meet separately with Biden, Harris on Thursday, White House says

WASHINGTON (Reuters) – U.S. President Joe Biden will host Israeli Prime Minister Benjamin Netanyahu at the White House on Thursday to discuss progress towards a ceasefire in Gaza and a hostage release, the White House said. Vice President Kamala Harris will meet separately with Netanyahu, it said on Wednesday. The Israeli leader is addressing the U.S. Congress later on Wednesday amid protests and discontent among some U.S. lawmakers over the conduct of the war in … Read more…

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Russia says US election upheaval shows schism in American society

By Dmitry Antonov MOSCOW (Reuters) – Russia said on Wednesday that the upheaval surrounding the U.S. election, including an assassination attempt against Donald Trump and the exit of President Joe Biden from the race, showed the divisions in an American society in danger of “falling into a nosedive”. Former president Trump, the Republican candidate, was shot in the ear at a campaign rally on July 13, while Biden abandoned his reelection bid on Sunday and … Read more…

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Clooney backs Harris for president after pushing for Biden exit

By Lisa Richwine LOS ANGELES (Reuters) – Actor George Clooney, a key Democratic fundraiser who made a public call for President Joe Biden to drop his reelection bid, endorsed Vice President Kamala Harris on Tuesday as the party’s nominee for the November presidential election. Biden ended his campaign on Sunday following pressure from Democrats in Congress and top donors such as Clooney who were disturbed by the president’s disastrous debate performance in June. Harris became … Read more…

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Exclusive-Harris leads Trump 44% to 42% in US presidential race, Reuters/Ipsos poll finds

By Jason Lange (Reuters) – Vice President Kamala Harris opened up a marginal two-percentage-point lead over Republican Donald Trump after President Joe Biden ended his re-election campaign and passed the torch to her, a Reuters/Ipsos poll found. The poll, conducted on Monday and Tuesday, followed both the Republican National Convention where Trump on Thursday formally accepted his party’s nomination and the Biden announcement on Sunday he was leaving the race and endorsing Harris. Harris, whose … Read more…

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US business equipment borrowings fall 4% in June, ELFA says

(Reuters) – U.S. companies borrowed 4% less to finance equipment investments in June than a year ago, industry body Equipment Leasing and Finance Association (ELFA) said on Tuesday. New loans, leases and lines of credit signed up by companies in June were down 2% from $10.20 billion a month ago. ELFA, which reports economic activity for the more than $1-trillion equipment finance sector, said credit approvals for U.S. companies came in at 75%, unchanged from … Read more…

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Disney’s shareholder Perlmutter sells his stake after proxy fight loss, WSJ reports

(Reuters) – Isaac Perlmutter, one of the largest investors in Walt Disney, has sold his entire stake in the media company after losing the proxy fight, the Wall Street Journal reported on Tuesday. A former Disney executive, Perlmutter sold his shares between early April and mid-July at an average price of just under $115 – but if Disney’s share price declines to a range of $65 to $75, he plans to repurchase much of his … Read more…

Berkshire Hathaway cuts stake in China’s BYD to below 5%

NEW YORK (Reuters) – Warren Buffett’s Berkshire Hathaway reduced its stake in BYD to below 5%, in what could be the final time Berkshire discloses stock sales in China’s largest producer of electric vehicles. Berkshire lowered its stake in BYD’s issued H-shares to 4.94% from 5.06% on July 16, according to a Monday filing with the Hong Kong Stock Exchange. The stake had been 7.02% as recently as June 11. Hong Kong requires larger shareholders … Read more…

Ukraine reaches preliminary deal with bondholder group on $20-billion debt restructure

By Karin Strohecker and Libby George LONDON (Reuters) -Ukraine said on Monday it had reached an agreement in principle with a group of creditors to restructure $20 billion of international bonds, bringing the war-torn country closer to an unprecedented debt rework. Ukraine’s announcement comes just over a week before a two-year debt suspension agreement struck in 2022 is due to run out and marks the first time a country has embarked on a debt restructuring … Read more…

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