Macy’s shares pop 10% as retailer tops earnings estimates, raises outlook
Macy’s easily beat Wall Street’s earnings estimates and raised its guidance as it said revamped stores saw better sales trends.
Holiday spending, especially by Gen Z, is expected to drop this year, survey says
U.S. consumers plan to spend an average of 5% less compared to the year-ago holiday season, as Gen Z pulls back on the budget.
Airplane leasing world shrinks with $7.4 billion takeover of Air Lease
A group of investors led by Sumitomo and SMBC Aviation Capital are taking Air Lease, founded by aviation mogul Steven Udvar-Házy, private for $7.4 billion.
World’s largest sovereign wealth fund invests $543 million in Manhattan office building
Norway’s $2 trillion sovereign wealth fund will own a 95% stake in the property, marking its latest major real estate investment.
UK has weeks to solve fiscal puzzle as it sets date for Autumn Budget
The U.K. government has named the date of its forthcoming Autumn Budget amid heightened pressure on Chancellor Rachel Reeves to resolve a fiscal conundrum.
The U.S. makes it harder for TSMC, SK Hynix and Samsung to produce chips in China
TSMC, along with SK Hynix and Samsung Electronics, are losing waivers that allowed them export chipmaking equipment to manufacturing plants in China.
Alphabet stock pops 6% in premarket trading after Google avoids break-up in antitrust case
Alphabet shares rose 6% in premarket trading on Wednesday as investors viewed the result of Google’s antitrust case as broadly favorable.
India’s consumption push could ease the impact of Trump’s tariffs, but a weak rupee poses risks
India has to grapple with steep U.S. tariffs, but improving domestic consumption is expected to ease their impact, according to analysts.
Why Japan’s long-term government bond yields have surged to multi-decade highs
Japan’s 30-year bond yield notched a record high to hit 3.286%, up 100 basis points this year, while yield on the 20-year debt is at its highest since 1999 at 2.695%.
European markets set to open in positive territory as traders track bond yields
European stocks are expected to open broadly higher on Wednesday, reversing negative sentiment in the previous session.