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Ananym suggests Baker Hughes spin out its oil services equipment business

By Svea Herbst-Bayliss NEW YORK (Reuters) -Ananym Capital would like to see energy and technolgy company Baker Hughes spin out its oil field services and equipment business, arguing such a step could help push up the stock price by at least 60%. “That’s our preferred path ...
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Early consumer earnings make the wealth effect clear

By Purvi Agarwal and Arpan Varghese (Reuters) -Prominent consumer-facing companies Coke, 3M, General Motors and Philip Morris all flagged consumer resilience in their earnings reports on Tuesday – depending on the consumer. Case in point: industrial conglomerate 3M raised its profit expectations for 2025, while also ...
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UPS to add air conditioning to 5,000 delivery trucks in hottest US delivery zones

By Lisa Baertlein LOS ANGELES (Reuters) -United Parcel Service will retrofit 5,000 of its boxy, brown trucks with air conditioning in delivery areas with the hottest weather, according to the company and the Teamsters Union that represents the delivery firm’s drivers. UPS committed to add 28,000 ...
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General Motors lifts forecast as tariff outlook improves, shares surge 14%

By Nora Eckert and Nathan Gomes (Reuters) -General Motors raised its profit outlook for the year citing relief on two fronts: less pressure from tariff costs and lighter losses on electric cars, as it unwinds massive bets it made on the technology.  GM’s shares surged 14% ...
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Adidas raises full-year profit outlook as it rides out Trump tariff impact

FRANKFURT (Reuters) -Germany’s Adidas on Tuesday raised its operating profit guidance for the full year, saying it successfully mitigated part of the extra costs caused by higher U.S. tariffs. The sportswear brand predicted a 2025 operating profit of about 2.0 billion euros ($2.3 billion), up ...
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Wells Fargo CEO says credit is strong, does not see cracks in banking system

NEW YORK (Reuters) -Wells Fargo CEO Charlie Scharf said that credit among consumers and businesses still remains strong despite recent concerns about loan losses that have weighed on bank stocks. (Reporting by Lananh Nguyen in New York) Brought to you by www.srnnews.com
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OpenAI launches web browser to compete with Google Chrome

OpenAI said Tuesday it is introducing its own web browser, Atlas, putting the ChatGPT maker in direct competition with Google as more internet users rely on artificial intelligence to answer their questions. Making itself a gateway to online searches could allow OpenAI, the world’s most ...
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BNP struggles to dispel Sudan litigation concerns as shares drop

By Mathieu Rosemain PARIS (Reuters) -BNP Paribas sought to reassure investors on Tuesday that it faces limited exposure to a Sudan-related litigation, although analysts said there was continued uncertainty and shares in the lender dropped again. A U.S. jury on Friday found the French bank helped ...
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Analysis-Global investors like the new-look Japan government, for now

By Rae Wee, Laura Matthews and Ankur Banerjee SINGAPORE/LONDON/NEW YORK (Reuters) -Global money managers are circling back to Japan’s stock and debt markets, drawn by the promises of its new reflationist government and a desire to diversify from pricier U.S. and European markets. Flows into yen-denominated ...
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Factbox-Automakers pool with EV makers to avoid EU emissions fines

MILAN (Reuters) -Automakers have formed alliances to help them avoid hefty European Union fines on carbon emissions by purchasing credits from electric vehicle companies. Several legacy automakers face potential fines as the transition to EVs in Europe has proved slower than expected in recent years. Here ...
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Analysis-L’Oreal’s $4.7 billion Kering beauty buy offers decades of potential

By Dominique Patton PARIS (Reuters) -L’Oreal’s $4.7 billion deal to buy cosmetic and fragrance brands from Kering gives the French conglomerate rare 50-year licences, including for Gucci, that are likely to confirm its dominance in a growing part of the beauty sector. That purchase, announced late ...
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Argentina economic activity growth seen slowing to 2.5% in August

BUENOS AIRES (Reuters) -Argentina’s economic activity growth likely slowed for a second consecutive month in August, a Reuters poll of analysts showed on Tuesday.  According to the median forecast from 15 analysts, activity expanded 2.5% year-on-year in the eighth month of the year, following increases ...
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