Business

By Niket Nishant (Reuters) -American Express surpassed Street estimates for second-quarter profit on Friday, fueled by resilient spending from its affluent cardholders. The beat underscores how the credit card giant’s focus on wealthy customers has helped insulate it from the effects of waning consumer confidence, which is more pronounced among lower-income households. While not representative of the broader economy, AmEx’s …

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People walk by the Burberry store on East 57th Street during Memorial Day weekend on May 25, 2025 in New York City. Craig T Fruchtman | Getty Images Entertainment | Getty Images American shoppers are buying into the allure of British heritage fashion, providing a glimmer of hope for beleaguered Burberry‘s turnaround even as U.S. headwinds loom. Burberry sales in …

‘Even God would get fired.’ The lessons this fund manager is taking from stock-market drawdowns and recoveries.  MarketWatch Source link

Exclusive | U.S.-Based Wells Fargo Banker Blocked From Leaving China  The Wall Street Journal Factbox-Wells Fargo’s business in China, where senior executive faces an exit ban  Yahoo Finance Wells Fargo Suspends China Travel After Banker Was Blocked From Leaving  Bloomberg.com Wells Fargo halts travel to China after senior banker hit with exit ban  Financial Times US-based Wells Fargo banker blocked from leaving China after …

Chevron to proceed with Hess takeover after winning Exxon Guyana legal battle  Reuters Chevron defeats Exxon in dispute over Guyana oil assets, clearing path for Hess acquisition  CNBC Chevron Moves Forward With Megadeal for Hess After Winning Exxon Arbitration  The Wall Street Journal Chevron’s $53bn deal for Hess on track after arbitration ruling  Financial Times Chevron Prevails Over Exxon. It Can Buy Hess, Guyana …

Sarepta Says Another Patient Died After Receiving Gene Therapy  Bloomberg Patient dies in Sarepta gene therapy trial, adding to safety concerns  STAT Sarepta Therapeutics lays off one-third of workforce in drastic cost-cutting  The Boston Globe Third death from a Sarepta gene therapy  BioCentury Sarepta Therapeutics Stock Is Surging After The Bell: What’s Going On?  Yahoo Finance Source link

Goldman Sachs has a new plan to keep junior talent from defecting to private equity: offering them buyside jobs within the bank. On Thursday, the Wall Street bank sent a letter to its summer interns announcing a new program that would offer a select group of incoming junior bankers the chance to work for Goldman’s asset management business after their …

Minnesota State Fair unveils 70 new drinks hitting the fairgrounds in 2025  Bring Me The News Minnesota State Fair announces 70 new beverages for 2025  MPR News Minnesota State Fair releases lineup of new beverages  kare11.com Zoinks! Scooby Slush among 70 new drinks at the Minnesota State Fair in 2025.  Star Tribune A beer, but make it soft serve — that’s one of the …

Trump’s U-Turn on Nvidia Spurs Talk of Grand Bargain With China  Bloomberg Move over, Tim Cook. Jensen Huang is America Inc’s new China envoy  The Economist China commerce minister discussed foreign investment, AI at meet with Nvidia CEO  Reuters Trump just handed China a major advantage on AI  vox.com China Is Spending Billions to Become an A.I. Superpower  The New York Times Source link