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RTX cuts 2025 profit forecast as tariff costs weigh

(Corrects CFO name in paragraph 4 to Mitchill from Mitchell) By Mike Stone (Reuters) -RTX cut its 2025 profit forecast on Tuesday, as the aerospace and defense giant took a hit from U.S. President Donald Trump’s trade war despite strong demand for its engines and ...
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Kohl’s shares double as retail investors pile in

(Reuters) -Shares of U.S. department store chain Kohl’s jumped more than 100% on Tuesday, making it one of the most traded stocks on retail trading platforms. Kohl’s shares nearly doubled in value at one point, triggering a trading halt on the stock. On resumption the ...
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Ad firm Interpublic beats quarterly estimates on resilient client spending

(Reuters) -Ad group Interpublic surpassed analysts’ estimates for second-quarter revenue and profit on Tuesday, thanks to resilient marketing spend from clients, sending its shares up nearly 5%. The results are the latest sign that ad spending is holding firm in an uncertain economy, after French ...
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UK court says HPE owed more than $940 million in fraud case against late tech tycoon Mike Lynch

LONDON (AP) — Hewlett Packard is owed more than 700 million pounds ($943 million) from British tech tycoon Mike Lynch’s estate and his former finance director after they lost a fraud case involving Lynch’s software company, a U.K. High Court judge ruled on Tuesday. ...
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Greenpeace hails Italy court ruling allowing climate lawsuit against energy company ENI to go ahead

ROME (AP) — Italy’s highest court has ruled that a lawsuit brought by climate activists against Italian energy company ENI and its government shareholders can go ahead, in what Greenpeace said on Tuesday was a victory for efforts to pursue climate justice in Italy. In ...
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IMF warns tariffs aren’t the answer to global imbalances

By Andrea Shalal WASHINGTON (Reuters) -Global current account balances widened sharply in 2024, reversing a narrowing under way since the global financial crisis of 2008-2009, the International Monetary Fund said on Tuesday, warning that tariffs were not the answer. In its annual External Sector Report, which ...
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European second-quarter corporate profits expected to fall 0.3%

By Javi West Larrañaga and Marleen Kaesebier (Reuters) -The outlook for European corporate health has slightly improved, the latest earnings forecasts showed on Tuesday, despite continued uncertainty over global trade and the European Union preparing for counter-measures against any major U.S. tariffs. European companies are expected ...
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Philip Morris’ shares slip in pre-market trading on quarterly revenue miss

(Reuters) -Marlboro-maker Philip Morris International (PMI) on Tuesday reported second-quarter revenue behind expectations as cigarette sales slipped and shipments of its ZYN nicotine pouches fell short of forecasts. Shares in the world’s largest tobacco company by market capitalisation dropped about 5% in premarket ...
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Stellantis to debut Leapmotor’s EVs in South Africa this year

By Nqobile Dludla JOHANNESBURG (Reuters) -Stellantis plans to sell Chinese-branded electric vehicles developed by its partner Leapmotor in South Africa starting with the C10 from September, the company said on Tuesday. The C10 is an electric SUV with a petrol engine used purely to charge ...
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BUSINESS HEADLINES

More Americans shift money from checking and savings to accounts with investment income, study says WASHINGTON (AP) — New research finds that more Americans are shifting their money from checking and savings accounts into financial vehicles that pay an investment income. The trend helps to ...
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The Weeknd and Shakira will headline Global Citizen Festival supporting energy access and the Amazon

NEW YORK (AP) — The Weeknd and Shakira — two of the world’s biggest touring artists — will headline this fall’s Global Citizen Festival in New York’s Central Park, supporting campaigns to improve energy access across Africa and defend the Amazon against deforestation. Global Citizen ...
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Why a far-right party in Japan made big gains

TOKYO (AP) — A fringe far-right populist party Sanseito was one of the biggest winners in the weekend’s upper house election, attracting many voters with “Japanese First” platform that included calling for tougher restrictions on foreigners and the curtailment of gender equality and diversity ...
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