Defense stocks touch record highA Ukrainian tank crew of the 33rd Separate Mechanized Brigade load tank ammunition onto a Leopard 2A4 tank during a field training exercise at an undisclosed location in Ukraine, on April 30, 2025.Genya Savilov | Afp | Getty ImagesThe European Stoxx Aerospace and Defense index rose to a new record high this morning, following a gain of around 1.1%.So far this year, the index has surged more than 53%.Top performers in the sector on Wednesday include Germany’s Renk, which jumped 5.3% after Bloomberg reported the military vehicle parts maker was considering expanding to offer a civilian…
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Smart Ray-Ban Glasses, on June 16, 2024, in Caen, Normandy, France. Nurphoto | Getty ImagesShares of Ray-Ban maker EssilorLuxottica rose over 5% on Wednesday on reports that Meta has taken a minority stake in the company amid growing appetite for AI-powered wearable devices.Meta reportedly bought a stake worth around 3 billion euros ($3.51 billion) in EssilorLuxottica at the current market price and is considering further investments that could expand its share to 5%, Bloomberg reported Tuesday, citing unnamed sources familiar with the matter.Meta declined to comment when contacted by CNBC while EssilorLuxottica did not immediately respond.EssilorLuxottica shares were up 5.3%…
Americans are saving more money — and for some, the change in habit comes down to how they feel about the economy.More than 4 out of 10 Americans, or 44%, say they’ve engaged in so-called vibe-based budgeting, according to a new survey by Intuit Credit Karma. In other words, they have adjusted their financial habits based on their feelings about the economy, regardless of whether their financial situation has changed.Younger generations are more likely to say they’ve tried vibe-based budgeting, with 56% of Gen Z and 57% of millennials surveyed.Intuit Credit Karma polled 1,058 adults online from June 13 to…
Containers sit at the Port of Los Angeles, in San Pedro, California, U.S., July 8, 2025. Daniel Cole | Reuters U.S. President Donald Trump announced Tuesday that copper and pharmaceutical imports will face tariffs of 50% and as high as 200%, respectively.Following the news, the S&P 500, which hit multiple record closes last week, ground to a halt and closed mostly flat.That said, it’s a muted response for such hefty tariffs, suggesting investors are either brushing off Trump’s tariffs as hollow threats, or discounting the effects they could have on inflation and the economy. Such complacency could be a mistake,…
Starbucks China has attracted offers for a potential stake sale, valuing the coffee chain at up to $10 billion, three people familiar with the deal process told CNBC. Almost 30 domestic and foreign private equity firms in China have submitted non-binding offers, the sources said, adding that proposals on the table value the business between $5 billion and $10 billion, with bidding expected to settle toward the higher end of that range. As Starbucks’ market cap hovers around $108 billion with its China business generating over 8% of global revenue , a fair valuation would stand at around $9 billion,…
This report is from this week’s CNBC’s UK Exchange newsletter. Each Wednesday, Ian King brings you expert insights on the most important business stories from the U.K. and other key developments you won’t want to miss. Like what you see? You can subscribe here.The dispatchSome 31 years after they were privatized, the U.K.’s railways are heading back into public ownership.The country’s railway tracks, stations, tunnels and signals were effectively renationalized in 2002, but it was a policy of the current Labour administration, when they were elected last year, to bring operation of the trains themselves back to the state.Only the rolling…
The U.S. consumer could soon jump to the front of the line of Wall Street’s worries, with Amazon ‘s Prime Day sales and companies’ second-quarter corporate earnings season delivering plenty of data to sort through. The dominant e-commerce platform’s annual sale began on Tuesday. Bank of America analyst Justin Post estimated that this Prime Day could generate $21.4 billion in gross merchandise sales volume across all 26 countries that are participating. That is up about 60% year over year, according to Post, but the 2025 Prime Day event will last four days — twice as long as the 2024 version.…
Wall Street may be taking the wrong lesson from the latest tariff updates. Stocks sold off Monday, with the Dow Jones Industrial Average falling more than 400 points after President Donald Trump announced steep new tariffs on goods from South Korea and Japan. Subsequent announcements brought that tally up to 14 countries. Trump also moved the “reciprocal” tariff deadline back to Aug. 1 from July. Still, the market response was relatively muted considering the impact sharply higher duties could have on inflation, consumer spending and corporate earnings, underscoring investors’ now deeply-held conviction that the worst of the tariffs are behind…
Air India Boeing 787 Dreamliner aircraft with registration letters VT-ANB flies over Tokyo, Japan, April 27, 2025 in this picture obtained from social media.Koki Takagi | Via ReutersA preliminary report into the crash of an Air India jetliner that killed 260 people in June is expected to be released by Friday, a step that could provide early details into the world’s worst aviation disaster in a decade, three sources said Tuesday.While the report from Indian investigators could be made public Friday, the sources with knowledge of the matter cautioned that plans could change and there was no clarity on how much information would be available in the document, which comes about 30 days after the June 12 tragedy.The sources spoke on condition of anonymity because…
Retail investors, once dismissed as speculators, are now outmaneuvering professional fund managers by adhering to a simple strategy: buy into companies you believe in for the long haul, according to Robinhood’s CEO. Institutional investors have spent the weeks since April 2’s so-called “Liberation Day” worrying over macroeconomic signals and taking “risk off across the board,” Vladimir Tenev told CNBC’s “Squawk Box Europe” Tuesday. The S & P 500 fell sharply in the aftermath of the tariff announcements as institutional investors fled to perceived safe havens. The index has now not only surpassed its pre-tariff high of 5670, however , but…
