WORLD
Ukraine claims drone attacks on two Russian oil refineries
The Ryazan refinery, about 120 miles (193 km) southeast of Moscow, is one of the largest in Russia and has a design processing capacity of about 340,000 barrels of crude a day
BUSINESS
Indian refiner snaps up US oil after Trump’s Russia threats
Indian Oil Corp. bought at least 5 million barrels US crude, on top of 2 million barrels of supplies from Abu Dhabi
WORLD
Trump tariff blitz unleashes delayed shock to global economy
Trump’s latest volley outlined minimum 10% baseline levies, with rates of 15% or more for countries with trade surpluses with the US.
WORLD
Wall Street’s months-long truce with Washington is shattering
The renewed weakness likely marked a welcome development to those who stuck to a preference in non-US assets of late.
WORLD
Trump’s 40% penalty for tariff dodging still missing key details
That penalty was included in the White House announcement Thursday evening that laid out global tariff rates from 10% to 41%.
BUSINESS
India oil refiners squeezed by anti-Russia push from US and EU
A major buyer of Russian oil, India is now finding itself blindsided by a more aggressive approach to the Kremlin from both Washington and Brussels
BUSINESS
Meta seizes its moment to spend more aggressively in the AI race
Investors cheered the plan, sending shares up more than 10% in after-hours trading
BUSINESS
China factory activity worsens as exports show signs of slowing
The official manufacturing purchasing managers’ index was 49.3, versus 49.7 in June, the National Bureau of Statistics said Thursday.
BUSINESS
Samsung chip profit tumbles while investors seek bottom
The chip arm reported three-month operating profit of 400 billion won ($288 million), the lowest in six quarters, versus analysts’ average projection for 2.73 trillion won.
BUSINESS
Microsoft set to hit $4 trillion market cap after earnings beat
Microsoft reported better-than-expected growth in its cloud business, and its closely-watched Azure cloud-computing unit posted a 39% rise in sales, handily beating the 34% analysts expected
BUSINESS
GSK’s profit outshines estimates as vaccines keep growing
The UK drugmaker’s best-selling shingles shot Shingrix as well as specialty medicines including drugs for asthma, HIV and cancer underpinned the brighter outlook
WORLD
China Politburo signals confidence in economy despite trade war
The world’s No. 2 economy has displayed 'great vitality and resilience' this year, the Communist Party’s decision-making Politburo said, according to a readout published Wednesday by the state-run Xinhua News Agency
WORLD
Shanghai evacuates 280,000 residents as tropical storm nears
The tropical storm has led to widespread transport disruptions in Shanghai, with local media reporting a suspension to ferry services and a reduction in speed limits on highways
BUSINESS
Jane Street seeks six weeks to respond to SEBI, may get fewer
Jane Street said in a statement on Monday it is engaging “constructively” with SEBI and has requested more time to respond to the regulator’s interim order dated July 3, without elaborating
TECHNOLOGY
Anthropic nears funding at $170 billion value as revenue surges
Investment firm Iconiq Capital is leading the round, which is expected to total between $3 billion and $5 billion
WORLD
US Fermi National Accelerator Laboratory hit in cyberattack targeting Microsoft’s SharePoint
Fermilab’s servers are back online and running normally, said the spokesperson, who didn’t provide additional details.
WORLD
Asian shares mixed at open before US Fed’s meeting
Shares in Japan fluctuated at the open while those in South Korea and Australia were flat Wednesday after the S&P 500 snapped a six-day rally
WORLD
Donald Trump tells UK’s Keir Starmer North Sea oil taxes are too high
As the UK shifts to greener energy such as renewables and nuclear, and away from fossil fuels, Starmer’s Labour government has said it won’t issue new licenses for North Sea oil and gas extraction, though it will honor existing ones.
WORLD
Kremlin is silent on new Trump deadline Russia is likely to snub
The US president threatened Monday to impose sanctions within 10-12 days on countries buying Russian exports including energy unless Putin accepts a ceasefire, instead of the 50 days he announced earlier this month
WORLD
HSBC asks managing directors to work in office four days a week
Five years after the global pandemic fueled an unprecedented boom in remote work, bank executives have become ever more vocal in their insistence that workers should return to the office
BUSINESS
Fidelity says $4,000 gold possible as Fed cuts, dollar drops
Fidelity’s bullish outlook for gold is similar to that from Goldman Sachs Group Inc., which has made the case in recent quarters for an eventual rally to as much as $4,000 an ounce
INDIA
US needs more negotiations with India for trade deal, says trade representative
Washington needs additional talks to gauge how ambitious India’s government is willing to be to secure a trade agreement, Jamieson Greer said
WORLD
Why world’s biggest passenger planes keep breaking down
Two decades after its maiden flight, regulatory bulletins ordering repairs, inspections or replacement parts for the massive four-engined plane are piling up
MARKETS
Jane Street to argue that retail demand drove its India trades
The trading giant has been working on its defense against market manipulation allegations from the Securities and Exchange Board of India
