The U.S. trade deficit in goods swelled to a 14-month high in May as businesses boosted imports, likely to avoid shortages and higher prices related to the war in the Middle East, prompting economists to cut their growth estimates for the second quarter.
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U.S. solar developers have secured federal subsidies for a wave of projects large enough to nearly double current capacity, rushing to beat a July 4 deadline that could send renewable power costs sharply higher.
A drop in oil prices after a fragile U.S.-Iran truce has helped ease immediate inflationary pressure in many emerging markets, but cheaper oil alone will not defuse the threat of civil unrest as the damage to household finances has already been done, analysts say.
The agreement allows up to 49,000 Chinese EVs to enter Canada annually at a reduced tariff rate.
Germans braced for sweltering conditions on Saturday as a heatwave linked to dozens of deaths in Western Europe was forecast to move east and bring temperatures approaching 40 degrees Celsius (104 degrees Fahrenheit) to Germany and Poland.
Volkswagen’s plans to close plants in Germany and nearly double planned job cuts to around 100,000 have put the spotlight on its unique governance and ownership structure that have drawn criticism from investors for years.
Polymarket’s annualized revenue has surpassed $1 billion, a source familiar with the matter told Reuters on Friday, highlighting the rapid rise of prediction markets as retail investors flock to trade on everything from elections and sports to financial events.
SpaceX will be added to the tech-heavy Nasdaq 100 index on July 7, exchange operator Nasdaq confirmed on Friday, paving the way for a surge in passive investments in Elon Musk’s rocket and AI giant.
The U.S. government on Friday allowed Anthropic to release its powerful Claude Mythos 5 AI model to some “trusted partners,” according to a Commerce Department letter seen by Reuters.
Bars of soap have melted and pressure in wine bottles has started pushing out the corks in Ulysse Zachary’s attic flat beneath the zinc rooftops of Paris, where the 21-year-old sleeps under wet towels to cope with a record-breaking heatwave.