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Europe’s record-breaking heat waves are driving spikes in demand for air conditioning
Heat waves and longer summers are driving seasonal spikes in demand for cooling units, highlighting the need for efficient technologies and adequate power supply to keep Europe cool. This year is set to bring another record hot summer, with temperatures reaching as high as 39 degrees Celsius in Paris. The increase in heat, as well […]
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Singapore’s stock market is soaring. And the bull run is just getting started, experts say
Once seen as a small, “unexciting” market for income-seeking investors, Singapore equities have taken a sharp turn upwards, surging to record highs, with major banks and market watchers signaling that the rally is just getting started. Building on its strong gains from last year, the benchmark Straits Times Index has advanced nearly 10% so far […]
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BlackRock’s Rick Rieder says a half-point rate cut by the Fed in September is possible
Rick Rieder, BlackRock’s chief investment officer for global fixed income, said July’s dismal jobs report opened the door for a jumbo rate cut from the Federal Reserve next month. “We would argue that the evidence the Fed needed in order to justify a cut in September has arrived in today’s report,” Rieder said in a […]
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The global crypto wave is catching on in Asia as businesses warm up to stablecoins
Businesses across Asia are increasingly warming up to stablecoins for cross-border transactions — a trend set to accelerate further as Hong Kong moves to legalize the use of digital tokens, experts told CNBC. From online travel agencies and luxury goods resellers to high-end hotels, companies are embracing stablecoin for payments, citing both speed and cost-efficiency […]
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Trump’s drug price ultimatum sets pharma firms scrambling
Key Points A fresh ultimatum demanding “binding commitments” to lower U.S. drug prices sent pharma firms scrambling Friday. President Trump sent letters to 17 major firms outlining the steps they must take to cut costs. Healthcare stocks tumbled Friday, following broader market losses as investors digested Trump’s amended tariffs. Pharmaceutical firms are scrambling to respond […]
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Top UK court to rule on car finance mega-scandal — with billions at stake
Key Points Britain’s top court is poised to deliver a highly anticipated judgment on the country’s multi-billion-pound car finance debacle. The crisis has drawn comparisons to Britain’s Payment Protection Insurance scandal, which was estimated to have cost lenders more than £50 billion ($66.1 billion). Notably, analysts at RBC Capital Markets slashed their estimates for how much […]
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Tariff turmoil: How global CEOs are shifting gears
Trade tensions are rising, forcing top executives to rewrite the rulebook on how their companies operate, where they invest and what customers buy. In interviews with CNBC this earnings season, CEOs across industries — from aluminum and aerospace to chocolate, banking, telecoms, and energy — sent a clear message: tariffs are no longer just a political […]
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Catastrophe bond sales are having a major moment
Catastrophe bond sales are skyrocketing, underscoring the growing appeal of what was once considered a relatively niche corner of the insurance industry. The issuance of so-called catastrophe bonds, or CAT bonds, has soared to $18.2 billion so far this year, according to specialist data provider Artemis.bm. With five months to spare, that’s already more than […]
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Why the U.S.-EU trade agreement is unlikely to derail Europe’s defense boom
Europe’s defense stocks wobbled at the start of the week, as investors pored over the details — still lacking in some areas — of the framework trade agreement struck by the U.S. and European Union on Sunday. An initial concern was that a commitment by the EU to increase its purchases of U.S. goods, in […]
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Luxury carmakers flag combined costs of $889 million as U.S. tariffs bite
Key Points Luxury carmakers Porsche, Mercedes-Benz Group and Aston Martin on Wednesday each outlined the extent to which U.S. import tariffs have taken their toll. Collectively, the carmakers warned of combined costs exceeding 770 million euros ($889 million). “This is not a storm that will pass,” Oliver Blume, chairman of the executive board of Porsche, […]
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