Latest financial and economic news and analysis
A major oil refinery in Russia's Yaroslavl region is on fire after a big Ukrainian drone attack and emergency services are working to put out the blaze, Mikhail Evrayev, the regional governor, said on Thursday.
Q2's headline beat was driven by low-margin logistics and pricing, not by more organs moving through the platform; service outgrew product by 16.4 pp. Revenue is increasingly concentrated in the liver (78% of organ revenue), while the heart barely grew, and the lung fell 42% year-over-year. The heart and lung growth catalysts, ENHANCE and DENOVO, are delayed, gated by FDA enrollment, and contribute minimally while dragging margins.
Ukraine's military on Thursday struck two Russian oil refineries in long-range drone attacks as Kyiv continues to target energy infrastructure. Zelenskyy said Ukraine's armed forces struck the Bashneft-Novoil refinery in Bashkortostan and the Slavneft-Yanos refinery in the Yaroslavl region.
U.S. manufacturing activity reached its highest level in more than four years amid strong demand tied to defense spending and the AI infrastructure buildout. The economic backdrop continues to improve, with GDP expected to grow by around 6% in Q3 2026. U.S. production remained strong despite volatility from the Iran conflict, rising energy prices, and inflation concerns.
Oil edges higher amid talks to reopen the Strait of Hormuz
Big Tech moves were in focus during Wall Street's session on Wednesday as DeepMind CEO Demis Hassibis' departure drags Alphabet down. SpaceX shares were also down following the company's debut earnings with investors now awaiting the first expiration of its insider lock-ups earlier today.
CITIC CLSA's Shaun Cochran argues China's strengths in open-source AI and robotics give it an edge over the U.S. while a widening in credit spreads that forces Big Tech to rein in AI capex would be the key trigger for a broader market downturn.
Nigeria's upstream oil regulator expects at least 22 offshore projects to start production by 2030, with potential investment of up to $50 billion, as Africa's top oil producer pushes to boost oil and gas output and attract new capital.
China unleashed its broadest package of trade countermeasures since last October's truce. Beijing's move to sanction firms that help enforce Washington's sanctions could have significant implications for U.S. businesses operating in China, analysts say.
The S&P 500 ended July nearly unchanged from where it began the month. This marks the second consecutive month of unspectacular price action for the broad US stock market benchmark.
Banks just wrapped up a fantastic quarter in which the stars aligned for Wall Street business units, credit and net interest margins. Assuming the Fed eventually acts, rate hikes will be good for most commercial banks.
As token processing has jumped far ahead of industry expectations, compute, networking, and power companies are poised to benefit. Nvidia Rubin, optical networking, and readily available power are specific solutions that can help data center operators tackle the huge increase in token processing and inference demand.
Britain's Hikma Pharmaceuticals reported a 9% rise in half-year core-operating profit and maintained its annual outlook on Thursday, supported by the generic drugmaker's turnaround efforts to expand its product base and streamline manufacturing.
German defence supplier Renk Group AG booked its strongest quarterly order intake on record between April and June, lifting its backlog to 7.4 billion euros ($8.55 billion), the company said on Thursday.
While input costs have risen sharply, demand is proving resilient as businesses stockpile essential parts and equipment to avoid further disruption from tensions in the Middle East.