The Latest Breaking News on Business

Corporate Profits Soared Fueled By AI Investment As Markets Gear Up For Q3 Earnings

Corporate profits reached an all-time record of more than $4.7 trillion in the second quarter

International Business Times · Oct 13

JPMorgan Earnings Miss Estimates But Reveal Broad-Based Strength

JPMorgan's Q3 revenue rose 8.1% to $50.9 billion with broad-based loan and deposit growth, but adjusted earnings missed estimates amid an investment banking slowdown and reduced buybacks.

MarketBeat · Oct 13

US banks post strong earnings but economic risks cloud the sector’s outlook

Wall Street's biggest banks reported another strong quarter on Tuesday, but they warned that higher rates and inflation could bite.

Euronews · Oct 13

Michigan Congressman Proposes Using Tariff Revenue for Tariff Relief Fund

Rep. John James admits that Trump's tariffs are hurting Michigan businesses. His solution? Make them fill out more paperwork.

Reason · Oct 12

Airlines raised fares as fuel costs surged, but Delta’s CEO says those higher ticket prices could be here to stay as long as demand holds up

Oil prices are more than 70% higher than they were a year ago.

Fortune · Oct 12

Global Market: Hong Kong dollar nears weak side of trading band, raising prospect of HKMA intervention

The Hong Kong dollar neared the weak end of its trading band against the US dollar, raising the possibility of Hong Kong Monetary Authority intervention to defend its peg. Weak equity performance, subdued investment flows, and rising US interest rates have pressured the currency, though analysts expect the linked exchange…

The Economic Times · Oct 13

Tencent sells dollar, dim sum bonds amid AI spending spree

Tencent Holdings is selling US dollar and offshore Chinese yuan, or dim sum, bonds in a deal that could raise at least $4.5 billion as the Chinese technology giant seeks funding amid higher spending on artificial intelligence.

The Economic Times · Oct 13

Trump defends Russia diesel deal as lawmakers from both parties complain

In light of ongoing legal questions, US President Donald Trump has stood firm on a disputed diesel oil agreement with Russia. This deal aims to mitigate fuel prices but faces skepticism over its supply limits. Lawmakers from both sides are pushing for a reassessment of the deal, advocating for stricter…

The Economic Times · Oct 13

Oil Price Today (October 13): Crude oil falls to $105 as traders assess Russian supply, Mideast attacks. What’s next?

Brent crude futures fell 61 cents, or 1.05%, to $105 a barrel, while US West Texas Intermediate crude futures declined 92 cents, or 1.05%, to $93 a barrel. Brent settled at $106.65 a barrel on Monday, its highest level since September 15. Oil prices have surged more than 70% this…

The Economic Times · Oct 13

Oil ticks lower as Russia diesel supply prospects counter Gulf supply risks

Oil prices dipped following a prior rise, with Brent crude futures down by 61 cents per barrel. Traders weighed supply risks stemming from recent assaults in Saudi Arabia and the potential increase of Russian diesel imports. Ongoing concerns about the robustness of Gulf energy infrastructure arose after strikes near vital…

The Economic Times · Oct 13