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Ryanair Announces Buyback as Profits Jump
The low-cost carrier will buy back $761 million worth of shares after its core earnings for the fiscal year rose 34%, and said it expected passenger numbers to increase depending on how well Boeing handles its delivery delays.The Wall Street Journal - World -
JD.com Beat Estimates With Higher Profit, Sales
Chinese e-commerce giant JD.com posted a rise in quarterly profit, beating estimates as its core businesses grew despite fierce competition with peers such as Alibaba and PDD.The Wall Street Journal - Business -
Li Auto Profit Fell on Higher Operating Expenses
The Chinese electric-vehicle maker forecast rising demand for its vehicles in the second quarter after its first-quarter profit was hurt by a steep rise in research and other operating expenses that offset higher sales.The Wall Street Journal - World -
AI companies seek big profits from ‘small’ language models
Microsoft, Meta and Google have released new versions with fewer ‘parameters’ that are cheaper to build and trainFinancial Times - Business - Artificial Intelligence -
Hunt hints at another National Insurance tax cut
Jeremy Hunt promises further tax cuts, as he launches an attack on Labour's plans ahead of an election.BBC News - Top stories -
Tiger Woods will miss the cut at the PGA Championship at Valhalla
Tiger Woods will miss the cut at the PGA Championship at ValhallaABC News - Sports - Golf -
Labor unions call for repeal of Trump tax cuts
Top U.S. labor unions are saying they’ve had enough of the Trump tax cuts and want them repealed. Unions including the United Auto Workers (UAW), the AFL-CIO, the Service Employees International Union (SEIU), the Screen Actors Guild (SAG-AFTRA), ...The Hill - Politics - Donald Trump -
GameStop’s stock slides premarket after company issues profit warning, files to issue more shares
GameStop Corp.’s stock fell 19% early Friday, after the videogame retailer and key meme stock issued a profit and sales warning for the first quarter and filed to sell new shares.MarketWatch - Business -
Budget airline Ryanair posts record annual profit as passenger numbers soar above pre-Covid level
Dublin-based Ryanair said full-year profit after tax jumped 34% and announced a 700-million-euro share buyback program.CNBC - Business -
$9 billion travel tech firm Navan on track to hit profitability this year and 'not far' from IPO, CEO says
The boss of travel and expense management platform Navan told CNBC he's preparing the company to get its business into shape for an IPO this year.CNBC - Business -
Norwegian Cruise’s stock rises as profit outlook raised for 2nd time in 3 weeks
Norwegian Cruise Line’s stock rallied Monday, after the cruise operator raised its full-year profit outlook, again, citing continued “very strong demand.”MarketWatch - Business -
Li Auto forecast rising demand for its vehicles in the second quarter after its first-quarter profit was hurt by a steep rise in expenses.
Li Auto forecast rising demand for its vehicles in the second quarter after its first-quarter profit was hurt by a steep rise in expenses.The Wall Street Journal - World -
Hunt to claim only Tories will cut UK tax burden after the election
Chancellor to attack Labour in keynote speech after canvassing tech bosses’ views on growth measuresFinancial Times - Business - United Kingdom -
Replit cuts staff by 30 amid aggressive AI push in software development
Replit, a cloud-based software development platform, lays off 30 employees as it focuses on integrating AI into its coding tools, aiming to make programming more accessible.VentureBeat - Tech -
ECB's Schnabel Says Second Rate Cut in July 'Does Not Seem Warranted'
The European Central Bank should move cautiously after delivering a first rate cut in June, a member of its executive board said in an interview.The Wall Street Journal - World -
ECB’s Schnabel lobbies against back-to-back rate cuts
European Central Bank board member Isabel Schnabel pushed back on the idea of back-to-back interest rate cuts, saying inflation risks are still tilted to the upside.MarketWatch - Business -
Grant's Take: Retail Sales Don't Point to Rate Cut Just Yet
Walmart earnings give a different signal than what the latest Commerce Department data delivered.The Wall Street Journal - World -
Hunt signals pre-election tax cut as Tories move on to campaign footing
UK chancellor accuses Labour of ‘a lie’ and funding ‘black hole’ in political speechFinancial Times - Business -
Mortgage rates drop as markets bet on Bank of England cut
Fresh wave of competition among lenders could provide relief for homebuyers ahead of UK general electionFinancial Times - Business - Mortgage -
China to cut mortgage rates as part of plan to prop up property market
Local authorities will be allowed to turn unsold homes from developers into affordable housing. China will cut mortgage rates and allow local authorities to turn unsold homes from developers into affordable housing, in a series of drastic measures ...The Guardian - World - China -
As Tesla layoffs continue, here are 600 jobs the company cut in California
The latest wave of Tesla layoffs hit an array of departments, impacting factory workers, software developers and robotics engineers. Read the WARN filing here.CNBC - Business - California -
Grab Sees Generative AI Boosting Cost-Cutting Drive
Southeast Asian ride-hailing and delivery specialist Grab Holdings is using generative artificial intelligence to trim expenses and boost a cost-cutting drive in its continuing bid to achieve profitability.The Wall Street Journal - World -
As Tesla layoffs continue, here are 600 jobs the company cut in California
As part of Tesla’s massive restructuring, the electric-vehicle maker notified the California Employment Development Department this week that it’s cutting approximately 600 more employees at its manufacturing facilities and engineering offices ...NBC News - Top stories - California -
Grab Sees Generative AI Boosting Cost-Cutting Drive
Southeast Asian ride-hailing and delivery specialist Grab Holdings is using generative artificial intelligence to trim expenses and boost a cost-cutting drive in its continuing bid to achieve profitability.The Wall Street Journal - Business -
Tiger (77) has 2 triple-bogeys, misses cut at PGA
After posting his 11th consecutive round of par or worse in a major championship with a 6-over 77 in the second round of the PGA Championship, Tiger Woods is headed home on the weekend again.ESPN - Sports - Golf -
Dollar rally falters as falling inflation raises hopes of rate cuts
US currency on track for first negative month of the year after end to months of above-forecast CPI dataFinancial Times - Business -
House Democrat says cutting federal funds for Harvard 'needs to be on the table'
Rep. Jake Auchincloss (D-Mass.) on Sunday said cutting federal funds for Harvard University and other schools should be an option "on the table" over their handling of campus antisemitism. Auchincloss, who is an alum of Harvard, visited the Ivy ...The Hill - Politics -
Companies warn against immigration cuts as Trump plans crackdown
Business groups say US economy remains dependent on foreign workers as migration becomes election issueFinancial Times - World - Donald Trump -
BoE could be close to cutting rates as inflation eases says deputy governor
Ben Broadbent believes direct effects of pandemic and war in Ukraine have now ‘faded’Financial Times - Business -
Summer interest rate cut possible, says Bank deputy
Ben Broadbent's comments come ahead of data which is expected to show a fall in inflation.BBC News - Top stories -
Target to cut prices on 5,000 items in bid to lure cash-strapped customers
Target joins other retailers and other major businesses moving to slash prices as inflation-weary consumers grow thriftier.CBS News - Top stories -
Telstra to Cut Jobs to Save Costs Amid Enterprise Overhaul
The Australian telecommunications company plans to cut 2,800 jobs as part of a continuing strategic review, helping cut $233.4 million in costs.The Wall Street Journal - World -
UK has room for three rate cuts this year, IMF says
The international body upgrades its UK growth forecast and says rates could fall to 4.5% by the end of 2024.BBC News - Top stories - United Kingdom -
Chinese search-engine giant Baidu reported a drop in quarterly profit, but beat estimates, helped by stable online marketing revenue and rising sales from its AI Cloud business.
Chinese search-engine giant Baidu reported a drop in quarterly profit, but beat estimates, helped by stable online marketing revenue and rising sales from its AI Cloud business.The Wall Street Journal - World -
BoE needs more evidence of price pressures easing before cutting rates, says policymaker
Megan Greene believes ‘burden of proof’ must lie in inflation waning before Bank of England loosens stanceFinancial Times - Business -
Tiger Woods misses cut at 2024 PGA Championship with pair of triple bogeys in second round at Valhalla
Valhalla hasn't been kind to Woods ever since his dramatic 2000 PGA Championship victoryCBS Sports - Sports - Golf -
2024 PGA Championship missed cuts: Jon Rahm, Wyndham Clark among stars not playing weekend at Valhalla
A number of recent major champions won't be around for the action this weekend in LouisvilleCBS Sports - Sports -
Woods gets stuck in sand, makes two early triples en route to a 77 and will miss the cut at PGA
Tiger Woods will miss the cut at the PGA Championship after making two triple-bogeys over his first four holes on the way to a round of 6-over-par 77ABC News - Sports -
Trump-era tax cuts set to expire after 2025 — here's what you need to know
Several tax cuts enacted by former President Donald Trump are set to expire after 2025 without changes from Congress. Here's how it could affect your wallet.CNBC - Business -
European utilities cut renewable targets as high costs and low power prices bite
Trend of scaling back and reviewing plans highlights difficult economics of transitioning away from fossil fuelsFinancial Times - Business