Trending Market News

Standard Chartered reported a 9% increase in first-half pretax profit to $4.78 billion, exceeding analyst expectations of $4.52 billion. The emerging markets-focused bank, which generates most revenue from Asia and Africa, was driven by growth in wealth management, markets, and global banking divisions.

• First-half pretax profit reached $4.78 billion, up from $4.38 billion in the prior year period
• Results beat the average analyst estimate of $4.52 billion from 16 analysts surveyed
• Growth was powered by wealth management, markets, and global banking revenue streams in the bank's core Asia and Africa markets

Elon Musk's X has criticized Australia's plan to strengthen enforcement of its social media ban for users under 16, arguing the proposed changes undermine international law and U.S. legal principles. The dispute centers on amendments that would expand the eSafety Commissioner's information-gathering powers and double maximum fines to A$99 million ($69 million). Australia's world-first law took effect in December 2024, but most teenagers under 16 still maintain social media accounts.

• X claims proposed amendments would 'compel any person outside Australia' to provide documents merely for being 'affiliated' with a company, creating 'clear conflict' with international legal principles
• The eSafety Commissioner reports being slowed by limited powers, unable to compel documents from third-party age verification providers, while preparing potential lawsuits against five platforms
• Industry representatives including YouTube and TikTok told the senate inquiry there is no known failsafe method to effectively block underage users from social media platforms

Meta CEO Mark Zuckerberg told the Financial Times that the U.S. should not ban advanced Chinese AI models, arguing this would be ineffective in the AI competition. He also cautioned against 'regulatory capture' by leading American AI labs that could harm domestic competition.

• Zuckerberg stated that blocking cutting-edge Chinese AI would 'not be an effective solution' for maintaining U.S. advantage in the AI race
• He warned against 'regulatory capture' by American frontier AI labs that could stifle competition within the domestic market
• The comments suggest Meta's preference for open competition over restrictive trade policies in the AI sector

Australian biotechnology company CSL announced it will begin clinical trials in mid-2027 to support regulatory approval for its Horizon 2 manufacturing technology, which aims to increase immunoglobulin output from the same amount of plasma. The trials follow discussions with the U.S. FDA and European Medicines Agency and will test the safety and efficacy of the new production process.

• Horizon 2 is a patented process designed to increase yield and improve manufacturing efficiency for immunoglobulin, one of CSL's key products
• Clinical trials will begin in mid-2027 using material produced at CSL's Broadmeadows facility in Australia
• The initiative supports CSL's expansion plans, including increased manufacturing capacity for plasma-derived therapies in the United States over the next five years

SK Hynix reported a 557% surge in Q2 operating profit to a record 60.5 trillion won ($41.62 billion), driven by strong AI chip demand as tech companies increase AI data center investments. Despite the sixfold increase from the prior year, the result missed analyst estimates of 64 trillion won due to the company's high exposure to AI chips versus conventional memory products.

• Operating profit reached 60.5 trillion won ($41.62 billion), up from 9.2 trillion won year-over-year, but fell short of the 64 trillion won analyst consensus
• Quarterly revenue surged 257% to 79.3 trillion won, fueled by robust demand for advanced memory chips from AI server applications
• The earnings miss was attributed to SK Hynix's higher exposure to high-end AI memory chips, which benefited less from the stronger price rally in conventional memory products compared to competitors

Brazilian state-run oil firm Petrobras reported second quarter 2025 production of 3.34 million barrels of oil equivalent per day, a 14.1% increase year-over-year. The growth was driven by the ramp-up of multiple floating production units and strong performance in its core Brazilian operations.

• Oil production in Brazil rose 15% to 2.69 million barrels per day, supported by FPSO units Maria Quiteria, Alexandre de Gusmao, P-78, and the start-up of P-79
• Total sales of oil, gas and derivatives increased nearly 12% to 3.33 million bpd in Q2
• Exports surged 41% to 1.23 million barrels per day, indicating strong international demand for Petrobras output

CBS News' '60 Minutes' is adding several new correspondents and contributors, including New York Times columnist Ross Douthat, author Sebastian Junger, and CBS anchor Norah O'Donnell. The hires represent the first major personnel moves under the program's new leadership after replacing its first female executive producer earlier in 2026.

• Ross Douthat joins as a correspondent, marking a notable hire from print journalism to the long-running TV news magazine
• Sebastian Junger, known for bestseller 'The Perfect Storm' and Oscar-nominated documentary 'Restrepo', joins as a contributor alongside Gianna Toboni and Trevor Phillips
• The additions come as part of a significant reshaping of the program's lineup under new executive leadership

AT&T completed its $23 billion acquisition of wireless spectrum licenses from EchoStar, a deal originally announced in August 2025. The acquisition adds approximately 50 MHz of low-band and mid-band spectrum covering virtually every U.S. market, enhancing AT&T's network capacity and coverage capabilities.

• AT&T acquired 30 MHz of nationwide 3.45 GHz mid-band spectrum, which provides enhanced capacity for 5G services
• The deal includes approximately 20 MHz of nationwide 600 MHz low-band spectrum, improving coverage and penetration in buildings
• The spectrum covers virtually every market across the United States, significantly expanding AT&T's wireless infrastructure footprint

KLA Corp forecast first-quarter revenue and profit above Wall Street estimates, driven by strong demand for its chipmaking tools amid continued AI infrastructure investment. The semiconductor equipment maker expects Q1 revenue of $4 billion versus analyst estimates of $3.92 billion, as chipmakers expand capacity for AI processors and high-bandwidth memory.

• KLA's process control and yield management systems are critical for identifying defects in semiconductor manufacturing, becoming more vital as chipmakers move to smaller, more complex production nodes
• Fourth-quarter revenue grew 15.1% to $3.66 billion, beating estimates of $3.60 billion, with adjusted profit at $1.05 per share
• CEO Rick Wallace expects business momentum to accelerate in the second half of 2026 through 2027, with AI infrastructure buildout creating new growth opportunities in advanced packaging

Mondelez International exceeded Wall Street expectations for Q2 2025 revenue and profit, driven by steady demand for chocolates and biscuits. The company benefited from a global cocoa surplus that eased margin pressures, allowing increased promotional activity. Mondelez raised its annual organic net revenue growth forecast to 2% from a previous range of flat to up 2%.

• Q2 net revenue reached $9.36 billion, beating analyst estimates of $9.20 billion, with adjusted profit of 73 cents per share versus expectations of 68 cents
• A global cocoa surplus helped relieve margin pressures, enabling the company to offer more promotions and value packs to attract shoppers
• The company upgraded its full-year organic revenue growth outlook to 2% while maintaining its adjusted profit forecast of flat to up 5%

Logitech International reported better-than-expected quarterly sales and profit for the three months ending June, significantly boosted by a $61 million tariff refund related to products shipped to the United States from several Asian countries and Mexico. The Swiss-U.S. maker of computer peripherals saw its non-GAAP adjusted operating income reach $290 million, up 44% year-over-year and well above analyst forecasts of $209 million.

• Non-GAAP adjusted operating income hit $290 million, beating analyst expectations of $209 million by nearly 39%
• Results received a $61 million boost from tariff refunds on products made in China, Vietnam, Malaysia, Mexico, Thailand, and Taiwan
• The tariff refund was related to products shipped to the United States, Logitech's largest market, under tariffs imposed during the Trump administration

Andrew Ng, Coursera co-founder, launched LearnVector, an AI-focused education startup aimed at reskilling white-collar workers as AI transforms professional work. Coursera invested $100 million for a one-third stake in the new firm, representing roughly 13% of its available cash. LearnVector expects to launch its first AI-powered, individualized courses in early 2027.

• Coursera's $100 million investment values LearnVector at approximately $300 million and gives it a one-third ownership stake in the startup
• LearnVector will use AI foundation models to create personalized courses that track progress and adapt over time, targeting corporations, governments, and higher education institutions
• Ng challenges the belief that AI will replace workers, arguing instead that AI will increase productivity and create fresh demand for skills as it automates certain tasks

Ford raised its 2026 annual earnings guidance for the second time this year to $10-11 billion in EBIT, up from $8.5-10.5 billion in April, citing strong pricing and resilient consumer demand. The automaker reported second-quarter core profit rose nearly 20% to $2.5 billion despite tariff costs of about $1 billion and a 9.6% decline in U.S. vehicle sales. Ford posted a net loss of $1.3 billion in Q2 due to charges from unwinding its SK On battery venture.

• Adjusted earnings per share of 42 cents beat analyst consensus of 35 cents, driven by strong demand for gasoline-powered trucks and SUVs offsetting tariff headwinds
• Ford's EV segment lost $919 million in Q2 with projected annual losses of $4 billion, while U.S. EV sales fell 57.4% in the first half despite plans to launch a $30,000 electric pickup in 2027
• The company faces approximately $1 billion in net tariff costs for the year, slightly improved from earlier projections, as it worked to source alternative aluminum suppliers after fires disrupted Novelis facilities

The Trump administration plans to ban imports of new Chinese humanoid and quadruped robots, as well as Chinese power inverters used in renewable energy and data centers. The Federal Communications Commission will implement these restrictions to protect U.S. AI infrastructure from national security threats including data theft and cyberattacks, while promoting domestic manufacturing of these critical technologies.

• The FCC will bar Chinese imports of new humanoid and quadruped robots plus connected power inverters that link renewable energy sources and batteries to grids and data centers
• The restrictions aim to safeguard the U.S. artificial intelligence supply chain from potential Chinese disruption, data theft, and cyberattacks
• The administration seeks to drive reshoring of key industries expected to experience explosive growth as part of efforts to 'reindustrialize America'

U.S. regulators approved Cheniere Energy's request to introduce natural gas into Train 7 of its Corpus Christi LNG export project in Texas, moving the largest U.S. LNG exporter closer to production from its seventh and final train. The approval advances the Stage 3 expansion designed to add over 10 million metric tons of LNG export capacity to meet growing global demand.

• FERC approval allows Cheniere to begin the final commissioning phase for Train 7 at the Corpus Christi midscale expansion project
• The Stage 3 expansion will add more than 10 million metric tons of LNG capacity, significantly expanding U.S. export capabilities
• Cheniere is the largest U.S. LNG exporter and second largest LNG producer globally, with the U.S. being the world's largest LNG exporter

Rogers Communications and Amazon's Prime Video have signed a 12-year sublicensing deal starting in the 2026-27 season, granting Prime Video exclusive rights to broadcast Wednesday night NHL games and select playoff series in Canada. The agreement reflects streaming platforms' growing investment in live sports content, while Rogers maintains broader NHL rights through 2037-38.

• Prime Video will broadcast at least 26 national regular-season games annually beginning September 30, 2026, plus exclusive rights to select Stanley Cup playoff series
• Sportsnet retains English-language rights to over 500 national NHL games per season, including most playoff coverage
• Financial terms of the sublicensing deal were not disclosed

Ford Motor is reporting second-quarter earnings after market close Tuesday, with Wall Street expecting a 2.3% decline in automotive revenue to $45.86 billion compared to the prior year. Investors are focused on cost management, warranty expenses, and updates on F-Series truck production issues caused by aluminum supplier disruptions.

• Analysts expect adjusted earnings per share to decline 2 cents year-over-year, with automotive revenue falling to $45.86 billion from $46.94 billion in Q2 2025
• Ford's F-Series truck production has been disrupted due to issues with aluminum supplier Novelis, which experienced two fires at a New York facility last month that halted operations
• Jefferies upgraded Ford stock to 'buy' from 'hold', viewing Q2 as a low point for volume with production expected to normalize and potential for raised guidance given healthy U.S. market conditions

Fast fashion retailer Shein disclosed in its Hong Kong IPO filing that the Federal Trade Commission is investigating its U.S. business, though the specific nature of the probe remains unclear. The company acknowledged that the investigation's outcome could require significant monetary payments that may materially impact its financial condition. This marks the first public disclosure of the FTC probe as Shein proceeds with its Hong Kong listing after abandoning IPO plans in the U.S. and London.

• Shein stated it is 'actively cooperating' with the FTC and may reach a settlement, but cannot predict the outcome or timing, which could occur in the near term
• The FTC typically investigates deceptive or unfair business practices including hidden fees, dark patterns, data privacy issues, and misleading pricing - areas potentially relevant to Shein's use of countdown timers, gamified discounts, and flash sales
• The company's Hong Kong IPO was recently approved after facing scrutiny over business practices that derailed earlier attempts to go public in the U.S. and London

eBay and three former executives will pay $55.7 million to settle a lawsuit filed by Massachusetts couple David and Ina Steiner, who were victims of a bizarre corporate harassment campaign in 2019. The campaign included sending cockroaches, fly larvae, and surveillance attempts after the couple's newsletter criticized eBay, resulting in seven former employees pleading guilty and receiving prison sentences up to 57 months.

• eBay will pay the couple $46.15 million and fund $6 million in charitable contributions; the company previously paid a $3 million criminal fine
• Former CEO Devin Wenig will pay $2 million to the Steiners and donate $1 million to a First Amendment charity, though he was never criminally charged
• The harassment campaign began after Wenig texted 'time to take her down' about Ina Steiner in August 2019, with employees traveling from California to Massachusetts to surveil the couple

Taiwan Semiconductor Manufacturing Co (TSMC) gradually resumed operations at its Japan Advanced Semiconductor Manufacturing (JASM) plant in Kumamoto prefecture after a 7.1-magnitude earthquake prompted precautionary worker evacuations on Tuesday. All personnel were confirmed safe, and post-earthquake structural inspections verified the facilities are secure, though detailed assessments continue.

• The 7.1-magnitude earthquake struck Kumamoto prefecture, forcing TSMC to evacuate workers from its JASM plant as a safety precaution
• Structural inspections confirmed the plant is safe and operations are gradually resuming, while construction work remains partially suspended due to potential aftershocks
• JASM's construction site was unaffected by the earthquake, with all personnel accounted for and no reported injuries