This report is from this week’s CNBC’s UK Exchange newsletter by Ian King. Like what you see? You can subscribe here.The dispatchEngland, Napoleon Bonaparte reputedly once said, is a nation of shopkeepers.These days, he might observe that it is more a nation of administrators, insolvency practitioners and restructuring advisors.Barely a day passes without news of another retailer going bust or closing dozens of stores.To take a handful of headlines from the last week: advisors have been appointed to salvage part of Claire’s U.K., the British arm of the global accessories chain, which has 281 outlets nationwide; Hamleys, the world famous U.K.…
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An icon of ASML is displayed on a smartphone, with an ASML chip visible in the background.Nurphoto | Nurphoto | Getty ImagesASML reported second-quarter earnings that beat estimates with the its key net bookings figure ahead of consensus. Here’s how ASML did versus LSEG consensus estimates for the second quarter:Net sales: 7.7 billion euros ($8.95 billion) versus 7.52 billion euros expectedNet profit: 2.29 billion euros vs 2.04 billion euros expectedIn its own previous forecast issued in April, ASML had said it expected second-quarter net sales of between 7.2 billion euros and 7.7 billion euros.Analysts anticipated net bookings — a key…
The global flagship store of Pop Mart, a Chinese toymaker and seller, at Nanjing Road Pedestrian Street on Aug. 16, 2022, in Shanghai, China.Vcg | Visual China Group | Getty ImagesShares in Pop Mart International tumbled over 6% on Wednesday after the toymaker issued a bullish first-half earnings forecast.The Beijing-headquartered company is behind the global craze around Labubu, a toothy, pointy-eared monster-like character. The toymaker sells its dolls in a blind box to buyers who don’t know what character is inside until they open it, with prices ranging from about 59 yuan to 5,999 yuan.In a filing to the Hong…
Nvidia CEO Jensen Huang attends a roundtable discussion at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris on June 11, 2025.Sarah Meyssonnier | ReutersBEIJING — Nvidia CEO Jensen Huang praised China’s generative artificial intelligence models, a day after the U.S. chipmaker said it expected to resume sales of a key AI chip to the country soon.”Models like DeepSeek, Alibaba, Tencent, MiniMax, and Baidu Ernie bot are world class, developed here and shared openly [and] have spurred AI developments worldwide,” Huang said. He was speaking Wednesday at the opening ceremony of a…
Goldman Sachs CEO David Solomon speaks during the Goldman Sachs Investor Day at Goldman Sachs Headquarters in New York City, U.S., February 28, 2023. Brendan Mcdermid | ReutersGoldman Sachs is scheduled to report second-quarter earnings before the opening bell Wednesday.Here’s what Wall Street expects:Earnings: $9.53 per share, according to LSEGRevenue: $13.47 billion, according to LSEGTrading Revenue: Fixed income of $3.28 billion, equities of $3.65 billion, per StreetAccountInvesting Banking fees: $1.9 billion, per StreetAccountGoldman Sachs is set up to be a beneficiary of several trends in the second quarter.Trading desks across Wall Street have benefited as President Donald Trump’s tariff policies have…
A Rolls-Royce aircraft engine on view during the Hannover Messe industrial trade fair on March 31, 2025.Ronny Hartmann | Afp | Getty ImagesBritish aerospace and defense company Rolls-Royce announced it is investing $75 million to expand its engine manufacturing facility in Aiken, South Carolina.The investment will boost output of mtu Series 4000 diesel engines, which are used in backup power systems for data centers and other critical infrastructures.”The increased investment strengthens our ability to serve our U.S. customers — especially in the fast-growing American data center industry,” Adam Wood, managing director for Rolls-Royce’s power systems division in America, said in…
As Wall Street launches into earnings season, CNBC’s Jim Cramer bemoaned the difficulties of anticipating stock action and discussed Nvidia, Wells Fargo and BlackRock.”This is the ups and downs of earnings seasons for the pros that are so terrifying,” he said. “I felt glorious that I had nailed Nvidia. But you could have gagged me with a spoon after Blackrock and Wells, and I would’ve deserved it.”While Nvidia isn’t set to post earnings until August, its stock shot up on Tuesday and hit a new high as Wall Street learned the White House would allow the artificial intelligence powerhouse to…
Shayne Coplan, founder and chief executive of Polymarket, speaks during the New York Times annual DealBook summit at Jazz at Lincoln Center on December 04, 2024 in New York City. Michael M. Santiago | Getty ImagesTwo federal investigations of the online prediction betting site Polymarket have been closed with no charges filed against the cryptocurrency-based marketplace, a person familiar with the matter told CNBC on Tuesday.”Polymarket has received declination notices from the U.S. Justice Department and Commodity Futures Trading Commission related to investigations into the company,” said the person, who was granted anonymity to discuss non-public actions. The company declined to…
Plant Vogtle Nuclear Power Plant in Waynesboro, GA, August 15, 2024.Van Applegate | CNBCWestinghouse plans to build 10 large nuclear reactors in the U.S. with construction to begin by 2030, interim CEO Dan Sumner told President Donald Trump at a roundtable in Pittsburgh on Tuesday.Westinghouse’s big AP1000 reactor generates enough electricity to power more than 750,000 homes, according to the company. Building 10 of these reactors would drive $75 billion of economic value across the U.S. and $6 billion in Pennsylvania, Sumner said.The Westinghouse executive laid out the plan to Trump during a conference on energy and artificial intelligence at…
The ‘Fast Money’ traders talk Nvidia hitting a fresh record high as China H20 chip news boosts stock. Source link
