(Reuters) -Lucid beat Wall Street expectations for third-quarter revenue on Thursday and reiterated its annual production forecast as it benefits from strong demand for its luxury electric sedans. Lucid shares rose 8% in trading after the bell. The company reported third-quarter revenue of $200 million, narrowly beating estimates of $198 million, according to data compiled…
BERLIN (Reuters) – Europe is prepared to act in response to possible restrictions to trade, German Economy Minister Robert Habeck said on Monday, after holding discussions with industry lobbies and the EU’s top trade representative about the threat of tariffs from the U.S. “Europe must and can only react unitedly and decisively to unilateral trade…
WASHINGTON (Reuters) – Contracts to buy U.S. previously owned homes plunged to a record low in January as higher mortgage rates and house prices reduced affordability for prospective buyers. The National Association of Realtors (NAR) said on Thursday its Pending Home Sales Index, based on signed contracts, dropped 4.6% last month to 70.6, an all-time…
SOCHI, Russia (Reuters) – Russian President Vladimir Putin on Thursday described China as Russia’s ally and threw his weight behind Beijing’s claims over Taiwan, while stating that no countries had anything to fear from deepening Sino-Russian cooperation. The two countries have not declared a formal military alliance, but Putin and Chinese President Xi Jinping signed…
By Seher Dareen (Reuters) – Higher labor costs and sticky inflation could continue to weigh on gold miners’ profits going into 2025, analysts said, but soaring prices of the yellow metal should still boost free cash flow. Gold prices rose nearly 27% in 2024, the most since 2010, and have jumped to all-time highs this…
(Reuters) – NATO-member defense spending may come back into focus as former U.S. President Donald Trump returns to office. Republican Trump, 78, was elected president on Wednesday, defeating Democratic candidate Kamala Harris. He previously served as U.S. president from 2017 to 2021. In congratulating Trump on his election, NATO Secretary General Mark Rutte said that…
PARIS (Reuters) – French President Emmanuel Macron declared on Monday that France was in the race for artificial intelligence and called on attendees at the AI Action Summit in Paris to choose Europe for their business needs. Clean electric power distinguishes France in addressing AI’s vast energy consumption, he said. “I have a good friend…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Futures on the federal funds rate, which measure the cost of unsecured overnight loans between banks, priced in on Thursday another 25-basis-point rate cut next month, after the Federal Reserve lowered rates by the same magnitude at the end of its two-day policy meeting. Rate futures also implied…
(Reuters) – Shares in European spirits makers and brewers fell on Friday after the U.S. surgeon general called for cancer warnings on alcoholic drinks. Alcoholic drinks should carry a label warning consumers about their cancer risks, U.S. Surgeon General Vivek Murthy said in an advisory, noting that their consumption increases the risk of developing breast,…
By Jeff Mason ABOARD AIR FORCE ONE/SEOUL/FRANKFURT (Reuters) – President Donald Trump is expected to introduce new 25% tariffs on Monday on all steel and aluminium imports into the U.S., on top of existing metals duties, in another major escalation of his shake-up of trade policy. As the risk mounts of a multi-front trade war,…
