Removal of bodies begins from Brazil plane crash that killed 62

By Sebastian Rocandio VINHEDO, Brazil (Reuters) – Brazilian civil defense teams worked through the night removing the remains of passengers on a plane that crashed on Friday near Sao Paulo, killing all 62 people on board. At least 21 bodies had been recovered by Saturday morning, Sao Paulo state government said, with two victims identified on site. All the bodies are being moved to Sao Paulo’s police morgue. On Friday regional carrier Voepass said the … Read more…

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Philippine military condemns China air force for ‘dangerous’ acts in South China Sea

MANILA (Reuters) -The Philippine military said on Saturday it strongly condemns “dangerous and provocative actions” by China’s air force at a contested shoal in the South China Sea. It was the first time the Philippines has complained of dangerous actions by Chinese aircraft, as opposed to navy or coast guard vessels, since President Ferdinand Marcos Jr took office in 2022. Two People’s Liberation Army Air Force aircraft executed a dangerous manoeuvre and dropped flares in … Read more…

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Rapper Travis Scott released by Paris police without charge

PARIS (Reuters) – Grammy-nominated American hip hop star Travis Scott has been released from police custody in Paris and will not face any charges, said a representative for Scott on Saturday. Scott, 33, had been arrested on Friday at Paris’ luxury Georges V hotel after a scuffle with a security guard. “Travis Scott has been released with no charges,” said Scott’s representative in an email sent to Reuters. The Paris prosecutor’s office also confirmed via … Read more…

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Russia fighting intense battles against major Ukrainian incursion

By Guy Faulconbridge MOSCOW (Reuters) – Russia was fighting intense battles on Saturday against thousands of Ukrainian troops as deep as 20 km (12 miles) inside the Kursk region after Ukraine’s biggest attack on Russian sovereign territory since the start of the war in 2022. Ukrainian forces rammed through the Russian border early on Tuesday and swept across some Western parts of Russia’s Kursk region, a surprise attack that may be aimed at gaining leverage … Read more…

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Chinese robotaxi firm WeRide eyes up to $5 billion valuation in US IPO

(Reuters) -China-based autonomous driving startup WeRide said on Friday it was seeking a valuation of as much as $5.02 billion in its initial public offering in the United States. The IPO announcement comes at a time when the Biden administration is expected to propose barring Chinese software in autonomous and connected vehicles in the United States in the coming weeks. WeRide is aiming to raise as much as $119.4 million by offering 6.45 million American … Read more…

China central bank says it will increase treasury bond trading

BEIJING (Reuters) – China’s central bank will seek to “enrich” its monetary policy toolbox and will gradually increase buying and selling of treasury bonds in its open market operations, its second-quarter monetary policy implementation report said on Friday. The People’s Bank of China (PBOC) will also seek to steadily lower companies’ financing and household credit costs, the report said, adding that prudent monetary policy should be “flexible, moderate, precise and effective.” The PBOC will “guide … Read more…

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Boeing gets $2.56 billion contract from US Air Force for E-7A Wedgetail aircraft

(Reuters) -Boeing said on Friday it had been awarded a $2.56 billion contract from the United States Air Force for two rapid prototype E-7A AEW&C Wedgetail aircraft. The contract includes lifecycle development, training and support for the U.S. E-7A fleet, the company said in a statement. Last month, the U.S. Air Force said it had reached a deal with Boeing for the supply of E-7 Wedgetail airborne warning and control aircraft. It downplayed concerns that … Read more…

Brazil plane crash kills all 61 aboard

By Gabriel Araujo, Andre Romani and Luana Maria Benedito SAO PAULO (Reuters) -A regional turboprop plane crashed near Sao Paulo in Brazil on Friday, killing all 61 people on board, the airline said. Regional carrier Voepass said the plane, bound for Sao Paulo’s international airport, took off from Cascavel, in the state of Parana, and crashed at around 1:30 p.m. (1630 GMT) in the town of Vinhedo, some 80 km (50 miles) northwest of Sao … Read more…

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Nasdaq short interest down 2% in late July

NEW YORK (Reuters) – Short interest on the Nasdaq declined 2% in late July, the exchange said on Friday. As of July 31, short interest fell to about 14.068 billion shares, compared with 14.356 billion shares as of July 15. Investors who sell securities “short” borrow shares and then sell them, on bets the stock will fall so they can buy the shares back at a lower price, return them to the lender and pocket … Read more…

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The Long and Short Of It – by Justin Vaughn

(Justin Vaughn, Editor, Options Trading Report) Friday ended the week on a sour note; the indexes were awful as the major sell-off carried the tech heavy Nasdaq Composite down 417 points, closing at 16,776, or off 3.4%. The Conservative Dow Jones Industrial Average was more of the same, losing 1.5% of its value. The S&P 500 suffered, losing 1.8%, as the indexes lost billions. The 10-year Treasury yield dropped, falling to below 2020 levels as … Read more…