Business

Deutsche Bank Downgrades Novo Nordisk to Sell After 70% Stock Plunge

Deutsche Bank downgraded Novo Nordisk to sell on Thursday after the Ozempic maker's stock fell roughly 70% from its peak amid rising competition.

Bank of Korea Raises Rate to 3% in Second Straight Hike

The Bank of Korea raised its benchmark rate 25 basis points to 3.0% on Thursday, a second straight hike backed by a chip-led export boom.

Warsh Cuts Fed Statement to 130 Words, Drops All Rate-Cut Language

Fed Chair Kevin Warsh shortened the post-meeting statement to 130 words from 341, removing all mention of future rate cuts and hinting at higher-for-longer

Trump Demands FCC Punish NBC Host, Treasury Bars Reporters From G20

Trump called for FCC punishment of NBC host Kristen Welker on Sunday as the Treasury barred NYT, WSJ and Bloomberg reporters from G20 events.

Bessent Says U.S. Will Sanction Another Bank Over Iran Ties This Week

Treasury Secretary Scott Bessent said the U.S. will sanction another bank this week to clamp down on Iran transactions, ahead of G20 meetings in North Caro

Shein Files for Hong Kong IPO After Swinging to Quarterly Loss Despite Revenue Growth

Shein has filed for a Hong Kong IPO after swinging to a quarterly loss despite revenue growth, marking a pivot from earlier London listing plans.

Rising Treasury Yields Signal Market Doubts Over Fed Chair Warsh’s Inflation Stance

Rising U.S. Treasury yields signal deep market anxiety over inflation and whether Fed Chair Kevin Warsh will back tough talk with action on rates in 2026.

Apple and Megacap Tech Anchor Wall Street’s Busiest Earnings Week of the Quarter

Apple and megacap tech companies headline the busiest week of second-quarter earnings, testing a market where one firm is driving S&P 500 growth.

When to Claim Social Security: Weighing Bigger Checks Against Time and Health

Claiming Social Security at 62 means smaller checks, while waiting boosts payouts. Here's how to weigh the trade-offs and build a broader retirement income

Samsung and SK Hynix Seal $950 Billion U.S. Chip Supply Deals Amid AI Boom

Samsung Electronics and SK Hynix have unveiled combined $950 billion U.S. chip supply partnerships as South Korea hosts major AI industry players.

Logistics Stocks Slide After Texas Legal Ruling Rattles C.H. Robinson

Third-party logistics stocks dropped after a Texas legal case against C.H. Robinson raised concerns over freight broker liability across the industry.

China Places 14 EU Entities on Export Control List in Response to Latest Sanctions

China placed 14 EU entities on its export control list, barring dual-use goods, in response to Brussels' latest sanctions package targeting Russia.

Tesla Suffers Worst Weekly Slump Since 2022 After Missing Quarterly Earnings

Tesla shares fell nearly 18% this week after a quarterly earnings miss and negative cash flow, marking the automaker's steepest weekly drop since 2022.

Kuwait’s KPC Signs $16 Billion Pipeline Deal with Blackstone, Brookfield and KKR

Kuwait Petroleum Corporation has signed a $16 billion lease-and-leaseback deal with Blackstone, Brookfield and KKR to finance its oil pipeline network.

Musk Urges Public to ‘Enjoy the Ride’ as Concerns Over AI’s Rapid Rise Grow

Elon Musk urged the public to "enjoy the ride" amid rising fears over artificial intelligence, saying he doesn't care if people dislike him.

Google and Tesla Shares Slide as Investors Question Timing of AI Payoffs

Alphabet and Tesla shares dropped as investors questioned when heavy artificial intelligence spending by major tech firms will translate into profits.

US Imposes Fresh Tariffs on Over 60 Countries, Citing Forced Labor Concerns

The Trump administration has imposed 10-12.5% tariffs on more than 60 countries, including China, citing failed enforcement of forced labor import bans.

Oil Surges Past $100 a Barrel as Middle East Conflict Escalates

Brent crude surged above $100 for the first time since May as Houthi attacks on Saudi tankers and US-Iran tensions rattled global oil markets.

Jury Rules Live Nation and Ticketmaster Operated as an Illegal Monopoly, Overcharging Fans

A jury found Live Nation and Ticketmaster guilty of antitrust violations, ruling they operated as an illegal monopoly and overcharged fans. The verdict moves to a remedies phase, potentially leading to significant industry changes.

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