Ray Dalio, founder of Bridgewater Associates LP, speaks during the Milken Institute Asia Summit in Singapore, on Wednesday, Sept. 18, 2024. The size of the Federal Reserve’s interest rate cut this week won’t be a game changer for global investors, though risks from China’s slowdown continue to weigh on their minds, according to participants at the regional forum. Photographer: Ore Huiying/Bloomberg via Getty ImagesBloomberg | Bloomberg | Getty ImagesRay Dalio, founder of one of the biggest hedge funds Bridgewater, has dumped his remaining shares in the firm and stepped aside from its board.Bridgewater completed the final sale of Dalio’s equity…
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Chevron on Friday reported second-quarter earnings that took a substantial hit due to low oil prices and a loss on its acquisition of Hess Corporation.The oil major’s net income declined about 44% to $2.49 billion, or $1.45 per share, from $4.43 billion, or $2.43 per share, in the same period last year.Chevron booked a $215 million loss on the fair value measurement of Hess shares. When adjusted for that charge and other one-time items, Chevron earned $1.77 per share to beat Wall Street estimates.Here is what Chevron reported for the second quarter compared with what Wall Street was expecting, based…
Analysts were cautious heading into Apple’s latest earnings report but breathed a sigh of relief after the “Magnificent Seven” titan posted its biggest quarterly revenue growth since December 2021. In its fiscal third quarter, the iPhone maker earned $1.57 per share on $94.04 billion in revenue. That exceeds the $1.43 per share and revenue of $89.53 billion that analysts polled by LSEG had penciled in. Apple incurred $800 million in tariff costs during the quarter, which came under the $900 million the company had estimated in May. Apple CEO Tim Cook forecast $1.1 billion in tariff costs for the current…
Exxon Mobil reported second-quarter earnings on Friday that declined significantly compared to last year, though the company beat Wall Street estimates as production growth softened the impact of lower oil prices.Exxon’s net income fell 23% to $7.1 billion, of $1.64 per share, compared to $9.2 billion, or $2.14 per share, in the same period last year.Here is what Exxon reported for the second quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Earnings per share: $1.64 vs. $1.54 expectedRevenue: $81.5 billion vs. $80.77 billion expectedThis is a breaking news story. Please check back for…
Businesses across Asia are increasingly warming up to stablecoins for cross-border transactions — a trend set to accelerate further as Hong Kong moves to legalize the use of digital tokens, experts told CNBC. From online travel agencies and luxury goods resellers to high-end hotels, companies are embracing stablecoin for payments, citing both speed and cost-efficiency compared to the traditional financial system. Stablecoins are cryptocurrencies usually pegged to sovereign currencies or even gold, making them more stable compared to other crypto assets. Hong Kong’s new legislation , set to take effect Friday, will formalize the framework for financial firms to issue…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailCNBC’s Leslie Picker with JPMorgan CEO Jamie Dimon, join ‘Money Movers’ to discuss his branch strategy, the economy, his meetings with the president and Trump’s comments about Fed Chair Powell and more.21:37Thu, Jul 31 202511:43 AM EDT Source link
A customer stands in front of a fruit and vegetable stall at an open-air market in Paris on July 15, 2025.Behrouz Mehri | Afp | Getty ImagesEuro zone inflation was unchanged at a higher-than-expected 2% in July, flash data from statistics agency Eurostat showed Friday.Economists polled by Reuters had expected the figure to hit 1.9%, after a 2% reading in June.So-called core inflation, which strips out more volatile food, energy, alcohol and tobacco prices, came in at 2.3% in July, the same level as during the previous two months, Friday’s data showed.The closely watched services print meanwhile eased to 3.1%…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailSquawk Box EuropeCNBC’s Karen Gilchrist discusses strong second-quarter results for British Airways-owner IAG, and the wider outlook for the travel sector.02:20an hour agoKaren Gilchrist Source link
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading. Source link
Another day, another deadline and another trade curveball from U.S. President Donald Trump just before the buzzer.The tariff deadline was set for August 1. Markets were watching. Countries were calculating. And then, right before midnight, came another announcement: 40% tariffs on transshipped goods, new rates for dozens of nations, and yet another reshuffling of Trump’s trade playbook. All set to begin next week.If this feels familiar, it’s because it is.We’ve seen this before. In April, Trump stunned global markets with a blanket 10% tariff hike, followed by a pause, and then a partial reinstatement. The July 9 restart was delayed at the last minute…
