An undated photo of a signage at Singapore state investor Temasek Holdings’ headquarters in the Southeast Asian city-state.Bryan van der Beek | Bloomberg | Getty ImagesSingapore state investment company Temasek Holdings’ net portfolio value soared to a record high of 434 billion Singapore dollars ($324 billion) for its financial year ended March.That’s up SG$45 billion from a year ago, a more than 11% gain year on year. The firm attributed the increase largely to the strong performance of its listed Singapore-based companies, as well direct investments in China, the United States and India.Temasek is a major shareholder in Singapore companies…
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U.S. President Donald Trump walks as workers react at U.S. Steel Corporation–Irvin Works in West Mifflin, Pennsylvania, U.S., May 30, 2025. Leah Millis | ReutersAs President Donald Trump’s tariffs against more than a dozen countries spark fresh concerns about looming country-specific trade measures, often overlooked are the levies on specific products and commodities that are already in place or could soon be coming.These so-called “Section 232” tariffs — already announced on cars, steel and aluminum, and floated for copper and other items — further constrain businesses and U.S. trading partners trying to navigate a constantly evolving trade environment.Trump said Tuesday that he would…
People shop at a grocery store in Brooklyn on May 13, 2025 in New York City. Spencer Platt | Getty ImagesFears earlier this year that President Donald Trump’s tariffs would result in a sharp inflation spike have completely receded, according to a New York Federal Reserve survey released Tuesday.The central bank’s monthly Survey of Consumer Expectations shows that respondents in June saw inflation at 3% 12 months from now. That’s the same level it was in January — before Trump took office and began saber-rattling over trade.The level marked a 0.2 percentage point decline from May and a retreat from…
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…
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.…
