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Stock market today: Global prices down after China reports weak July data and cuts key interest rate

Published Wed, 26 Feb 2025 05:31:29 GMT

BEIJING (AP) — Global stock markets declined Tuesday ahead of an update on U.S. retail spending after China reported that an economic slump deepened in July and its central bank cut a key interest rate to shore up growth.London, Shanghai and Wall Street futures declined. Tokyo advanced. Oil prices fell.Chinese consumer and factory activity slowed more than expected in July, official data showed. The People’s Bank of China cut its interest rate on one-week loans to banks.“Policymakers are starting to hit the panic button,” Stephen Innes of SPI Asset Management said in a report.Also Tuesday, Russia’s central bank raised its main lending rate by 3.5 percentage points to 12% in an emergency move to strengthen the ruble after the currency reached its lowest value since early in the war with Ukraine. The ruble has lost one-third of its value since the start of this year.In early trading, the FTSE 100 in London fell 1.2% to 7,417.72. The CAC 40 in Paris declined 1% to 7,277.68 and th...

AC Milan, Inter and Juventus aim to bring the Serie A title back up north after Napoli success

Published Wed, 26 Feb 2025 05:31:29 GMT

Figuring out which team will challenge Napoli for the Serie A title is anyone’s guess.AC Milan is going through an offseason overhaul with a host of new players. Inter Milan is still missing a center forward with Romelu Lukaku and Edin Dzeko both gone. Juventus remains a question mark after a highly disappointing season last year. Roma and Lazio appear a step behind, while Atalanta has made waves on the transfer market.Before Napoli won last season, no team beside the Milan clubs and Juventus had claimed the title since Roma in 2001 and they’ll be eager to bring the trophy back up north.With the Italian league due to start on Saturday, here’s a look at the top challengers:AC MILANNo team in Italy has made as many big signings as Milan has, with six significant additions, including United States standout Christian Pulisic.Yunus Musah, another U.S. international, has joined Pulisic in Milan in a return to the country where he spent a large portion of his childhood. Other notable...

GeneNews: Q2 Earnings Snapshot

Published Wed, 26 Feb 2025 05:31:29 GMT

RICHMOND HILL, Ontario (AP) — RICHMOND HILL, Ontario (AP) — GeneNews Ltd. (SZLSF) on Monday reported a loss of $402,000 in its second quarter.On a per-share basis, the Richmond Hill, Ontario-based company said it had a loss of less than 1 cent.The genetic testing company posted revenue of $793,300 in the period. Its adjusted revenue was $793,000._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SZLSF at https://www.zacks.com/ap/SZLSFSource

Seadrill: Q2 Earnings Snapshot

Published Wed, 26 Feb 2025 05:31:29 GMT

HAMILTON, Bermuda (AP) — HAMILTON, Bermuda (AP) — Seadrill Ltd. (SDRL) on Tuesday reported net income of $94 million in its second quarter.The Hamilton, Bermuda-based company said it had profit of $1.16 per share.The offshore drilling services provider posted revenue of $414 million in the period._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SDRL at https://www.zacks.com/ap/SDRLSource

GLG Life Tech: Q2 Earnings Snapshot

Published Wed, 26 Feb 2025 05:31:29 GMT

RICHMOND, British Columbia (AP) — RICHMOND, British Columbia (AP) — GLG Life Tech Corp. (GLGLF) on Monday reported a loss of $2 million in its second quarter.The Richmond, British Columbia-based company said it had a loss of 5 cents per share.The sweetener maker posted revenue of $1.5 million in the period._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GLGLF at https://www.zacks.com/ap/GLGLFSource

Super League Gaming: Q2 Earnings Snapshot

Published Wed, 26 Feb 2025 05:31:29 GMT

SANTA MONICA, Calif. (AP) — SANTA MONICA, Calif. (AP) — Super League Gaming, Inc. (SLGG) on Monday reported a loss of $6.8 million in its second quarter.The Santa Monica, California-based company said it had a loss of 17 cents per share.The company posted revenue of $5.1 million in the period._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SLGG at https://www.zacks.com/ap/SLGGSource

Elbit: Q2 Earnings Snapshot

Published Wed, 26 Feb 2025 05:31:29 GMT

HAIFA, Israel (AP) — HAIFA, Israel (AP) — Elbit Systems Ltd. (ESLT) on Tuesday reported profit of $62.4 million in its second quarter.On a per-share basis, the Haifa, Israel-based company said it had profit of $1.40. Earnings, adjusted for non-recurring costs, were $1.57 per share.The maker of defense electronics posted revenue of $1.45 billion in the period._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ESLT at https://www.zacks.com/ap/ESLTSource

‘Service will save us’: Maryland’s new Service Year Option and Corps now taking applications

Published Wed, 26 Feb 2025 05:31:29 GMT

The state of Maryland has launched the application portal to two programs aimed at helping adults and recent high school graduates earn while serving their communities.The Maryland Department of Service & Civic Innovation is taking applications until Sept. 1 for positions in the programs.In the Service Year Option, young adults ages 18-21 who have recently graduated high school or obtained a GED can apply for a nine-month program that will place them with businesses or government agencies in a variety of areas including education, public safety and information technology, among others.The Service Year Option participants will earn $15 an hour, and once they’ve completed the program, will also get a $6,000 stipend that can go toward their future education.There’s no age limit or graduation requirement for those in the Maryland Corps program.Gov. Wes Moore issued a statement announcing the new application portals, and sounded the theme he used during his campaign and his fir...

Russia’s ‘General Armageddon’ removed from military leadership, under house arrest: Reports

Published Wed, 26 Feb 2025 05:31:29 GMT

Russia’s General Sergei Surovikin, believed to be an ally of exiled Wagner chief Yevgeny Prigozhin, has been removed from his leadership role in Moscow’s war on Ukraine and is under house arrest, according to reports circulating among Russian military bloggers and media.The VChK-OGPU blog, which is considered close to Russia’s security forces, reported late Sunday that Surovikin is now “under a kind of house arrest” where he can’t leave the apartment he is being kept in, but has been permitted visitors, including several of his subordinates.Surovikin, known as “General Armageddon” for his aggressive military strategies in Chechnya and Syria, has not been seen in public since Wagner’s march on Moscow in June, after reports circulated that he had known about Prigozhin’s planned mutiny.“There is no official investigation, but Surovikin spent a long time in limbo answering uncomfortable questions,” VChK-OGPU reported, a...

Hawaii works to identify 99 confirmed dead after Maui wildfires as teams search ruins

Published Wed, 26 Feb 2025 05:31:29 GMT

LAHAINA, Hawaii (AP) — Hawaii officials worked painstakingly to identify the 99 people confirmed killed in wildfires that ravaged Maui and expected to release the first names Tuesday, even as search teams continued to scour neighborhoods reduced to ash for more dead.A week after the deadly blaze that leveled most of historic Lahaina began, many who survived have begun moving into hundreds of hotel rooms set aside for displaced locals.Crews had covered about 25% of the search area, the police chief said Monday. Gov. Josh Green asked for patience and space to do the search properly as authorities became overwhelmed with requests to visit the burn area.“For those people who have walked into Lahaina because they really wanted to see, know that they’re very likely walking on iwi,” he said at a news conference on Maui, using the Hawaiian word for “bones.”Just three bodies have been identified so far and officials will start releasing names on Tuesday, according to Maui...