Big Oil Is Reaping Rewards From the Chaos in Energy Markets
ExxonMobil's earnings doubled and Chevron posted its highest quarterly earnings on record as energy prices soared during the prolonged closure of the Strait of Hormuz.
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BP Puts U.K. North Sea Business Up for Sale
The energy major said that it would market the business to potential buyers, paving the way to end oil production in its home country after 60 years.
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Puma Shares Slip on Soft Sales
The stock dropped after sales fell almost 10%, with the company citing reset measures under a turnaround strategy and lower demand in key regions due to the war in the Middle East.
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Universal Music Shares Head for Worst Day Since IPO After Subscription Growth Disappoints
The stock was on track for its steepest decline since the record label behind went public in 2021, after revenue from subscriptions disappointed investors.
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British Airways Gains From Rerouted Middle East Travelers, But IAG Trims Capacity Outlook
British Airways benefited from business travelers rerouting to avoid the Middle East, but owner International Airlines Group cut its capacity growth outlook due to the conflict.
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Couche-Tard Plans to Buy Poland's Zabka for About $8.7 Billion
Canada's Alimentation Couche-Tard plans to acquire Poland's largest convenience retailer Zabka for about $8.7 billion.
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Sony Profit Jumps More Than Expected, Raises Guidance
First-quarter net profit came in stronger than expected, supported by a rise in earnings from the music and image-sensor businesses.
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Ford and GM Attempts to Go Beyond Cars Deserve Skepticism
The automakers have a mixed track record on diversification.
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Tesla Weighs Sale of China Business to Pave Way for Potential SpaceX Merger
The U.S. automaker could sell or spin off the business in its second-largest market over geopolitical concerns.
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Situational Awareness Down 67% in July in AI Stock Rout
"We let you down this month," Leopold Aschenbrenner's hedge-fund firm told investors after selling the bulk of its stocks to Citadel.
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Siemens Healthineers Cuts Revenue Outlook on Diagnostics Weakness
The German supplier of medical equipment now expects fiscal-year revenue to grow by between 3.5% and 4.0% on a comparable basis, compared with 4.5% to 5% previously.
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NatWest Raises Guidance and Brings Forward Share-Buyback Plans
The lender reported a 29% rise in pretax profit as it completed the acquisition of wealth manager Evelyn Partners.
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Anthropic AI Models Hacked Three Companies During Tests
The breaches, which follow a similar incident involving rival OpenAI and startup Hugging Face, were due to a mistake, Anthropic said.