BUSINESS
China’s rare-earth magnet shipments jump 158% after trade truce
Total cargoes of the magnets rose to 3,188 tons last month, according to Chinese data on Sunday, more than double volumes of 1,238 tons in May in the midst of China’s curbs.
WORLD
Japan's PM Ishiba vows to stay on despite historic election defeat
The result is the second dismal election showing for Ishiba since he became premier last October, even though the coalition’s tally of 47 seats may yet be enough to keep his job.
MARKETS
London Stock Exchange Group weighs 24-hour trading: Report
The operator of London’s bourse is holding discussions about whether to extend its hours, including to round-the-clock trading
WORLD
How a contract clause sparked a feud between two of world's most powerful oil firms
The story behind how it unfolded shows how American oil executives’ usual cordial relationships were pushed to the breaking point when a $1 trillion discovery was at stake
WORLD
Elon Musk says xAI will make kid-friendly app called Baby Grok
The billionaire didn’t provide further details on Baby Grok in a post on X
WORLD
After stock market’s torrid run, earnings misses face punishment
The S&P 500 Index closed near an all-time high Friday, after notching seven new records in just 15 sessions
WORLD
Trump’s ambitions collide with Epstein, Fed and health concerns
As Trump gears up for a trip to the UK next week to finalize a trade deal with PM Starmer, he finds himself looking slightly vulnerable
MARKETS
Charting the global economy: Tariffs trickling to US consumers
In China, a 5.2% increase in second-quarter gross domestic product beat expectations, bringing the official 5% expansion goal for the year within reach
BUSINESS
Jack Dorsey’s Block is set to join S&P 500 Index, replacing Hess
Block is aiming to turn Cash App into a full-scale banking and lending product, even as the company grapples with uneven earnings results.
WORLD
Pakistan’s Finance Minister Muhammad Aurangzeb in US to push for trade deal
Aurangzeb’s visit comes after an earlier Pakistani delegation was given an exhaustive list of demands from the US to cut the country’s tariff and non-tariff barriers as conditions for a trade deal
BUSINESS
Depository NSDL set to start taking investor orders for IPO next week
The sale will involve divestments by major investors, including IDBI Bank Ltd., the National Stock Exchange of India Ltd. and the State Bank of India, while NSDL will not receive any proceeds, according to earlier statements.
BUSINESS
Reckitt Benckiser sells homecare brands to Advent in $4.8 billion deal
Reckitt said it will retain a 30% stake in the business, whose brands include Air Wick air fresheners and Cillit Bang cleaners. The enterprise value includes up to about $1.3 billion of contingent and deferred consideration.
BUSINESS
AI startup Perplexity valued at $18 billion with new funding
The deal is an extension of a previous round from a few months ago that valued the company at $14 billion
BUSINESS
Meta hires two key Apple AI experts after poaching their boss
The social networking giant hired Mark Lee and Tom Gunter for its Superintelligence Labs team, according to people with knowledge of the matter
BUSINESS
US set to impose 93.5% duty on China battery material
The new duties will add to existing rates making the effective tariff 160%, according to the American Active Anode Material Producers, the trade group that filed the complaint
BUSINESS
Tesla spars in court over autopilot alert 2 seconds before crash
A verdict against Tesla would be a blow at a time when the company is staking its future on self-driving and pushing to launch a long-promised robotaxi business
MARKETS
Asian stocks rise on TSMC’s advance, Dollar dips
The MSCI Asia Pacific Index rose 0.4%, with gains in Taiwan and Australia. Japanese stocks fluctuated. Equity-index futures for US rose after the S&P 500 and Nasdaq 100 set closing highs Thursday.
COMMODITIES
Gold steady as traders weigh US economy, rate cut directions
Traders will watch for the outcomes of a gathering of Fed officials at the end of this month to get a clearer sense of their direction. Gold is typically disadvantaged in a high interest-rate environment as it doesn’t offer interest.
WORLD
US initial jobless claims decline for a fifth straight week
The four-week moving average of new applications, a metric that helps smooth out volatility, dropped to 229,500 — the lowest since early May.
INDIA
Air India junior pilot asked captain why he turned off fuel switches
A preliminary report from India’s Aircraft Accident Investigation Bureau released last week included a description of the exchange, including one pilot’s denial that he turned off the switches, without identifying the individual speakers.
BUSINESS
Samsung billionaire Lee’s long legal saga ends with acquittal
The decision ends a years-long legal saga that had cast a shadow over the leadership of South Korea’s biggest conglomerate
BUSINESS
Trump eyes tariff rate of 10% or 15% for more than 150 countries
“We’ll have well over 150 countries that we’re just going to send a notice of payment out, and the notice of payment is going to say what the tariff” rate will be, Trump told reporters on Wednesday at the White House.
BUSINESS
Asian stocks waver at open after Trump-Powell saga
Equity-index futures for the S&P 500 fell 0.2% in early trading Thursday following a 0.3% gain for the index after President Donald Trump played down the prospect he may soon fire Powell
BUSINESS
JPMorgan is now worth more than three largest rivals combined
It racked up $30 billion of profit in that period, more than double its closest rival
