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US second quarter GDP growth to reflect tariff turbulence
US economic growth is expected to rebound in the second quarter, analysts said, in a momentary comeback reflecting trade shifts as companies tried to avoid the harshest of President Donald Trump's wide-ranging tariffs. Analysts have noted that companies tend to hold off major decisions during times of uncertainty, given the risk of sudden policy shifts.
American Eagle 'jeans' campaign that stars Sydney Sweeney under fire
An advertising campaign starring Sydney Sweeney for the clothing brand American Eagle has triggered the latest online firestorm causing an internet meltdown. Neither American Eagle nor the Emmy-nominated Sweeney, the 27-year-old actor best known for roles in the series "The White Lotus" and "Euphoria," have publicly responded to the backlash.
US says Trump has 'final call' on China trade truce
China and the United States agreed Tuesday to hold further talks on extending their tariff truce, but a top US trade official stressed that President Donald Trump would make any "final call." "Nothing has been agreed until we speak with President Trump," added Bessent, calling the tone of the talks "very constructive".
Gucci owner Kering posts 46% profit slump before new CEO arrives
French luxury group Kering reported Tuesday a 46 percent plunge in net profit during the first half, with sales slumping again at its flagship Gucci brand, as the group awaits a new CEO to try to regain its footing. Group net profit fell to 474 million euros ($547 million) in the first half from 878 million in the same period last year, on sales that were down 16 percent at 7.6 billion euros.
P&G estimates $1 bn tariff hit, plans some US price hikes
Procter & Gamble executives projected a $1 billion hit from US tariffs over the next year on Tuesday as the consumer products giant said it would institute limited price hikes in the United States. But P&G executives said they don't have enough details about the just-announced deal between the United States and Europe to update the forecast.
Boeing reports smaller loss, sees more 'stability' in operations
Boeing reported a smaller loss in the second quarter Tuesday after the company delivered more planes, with its CEO pointing to signs of stabilization in operations. Boeing delivered the most planes in a second quarter, or in the first half of a year, since 2018, reflecting efforts to improve its quality control operations following a number of safety problems.
IMF lifts 2025 growth forecast on 'fragile' easing in trade tensions
The IMF raised its global growth forecast Tuesday as efforts to circumvent Donald Trump's sweeping tariffs sparked a bigger-than-expected surge in trade, while the US president stepped back from some of his harshest threats. For now, a "modest decline in trade tensions, however fragile, has contributed to the resilience of the global economy," Gourinchas told reporters Tuesday.
Fossil-fuel pledge in EU-Trump deal sparks climate fears
The EU is promising colossal new US fossil fuel purchases under its trade deal with President Donald Trump, raising concerns for the bloc's climate fight -- should the mammoth pledges come true. The Trump trade deal comes as the EU debates its 2040 emissions-reduction target, a key step towards its net zero goal.
Novo Nordisk cuts earning forecasts again, names new CEO
Danish drugmaker Novo Nordisk, known for its blockbuster diabetes and weight-loss treatments Ozempic and Wegovy, on Tuesday lowered its full-year earnings forecasts again as it unveiled a new chief executive to tackle "recent market challenges".
AFP
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