News
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Estee Lauder forecasts profit below estimates, warns of $100 million tariff hit
Organic net sales fall 13% in Q4, hurt by weakness in skincare and makeup segmentsQuarterly loss widens to $546 million due to impairment chargesEstee Lauder plans to expand duty-free presence in Americas, CFO saysShares fall about 4%By Anuja Bharat Mistry, Anshi Sancheti and Samantha Marshak Aug...Reuters
Wed, Aug 20
Trump Ally Launches Attack — Fed Governor Lisa Cook Accused of “Dual Home Loan Fraud”?
TradingKey - Bill Pulte, Director of the Federal Housing Finance Agency (FHFA) and a Trump ally, has formally written to Attorney General Pam Bondi urging a criminal investigation into Federal Reserve Governor Lisa Cook over two mortgage transactions. Following the newsTradingKey
Wed, Aug 20
US President Trump calls on Fed Governor Cook to resign
In a post published on Truth Social on Wednesday, United States (US) President Donald Trump called on Federal Reserve Governor Lisa Cook to resign, providing a link to a Bloomberg article that is titled "Trump Ally Calls on Bondi to Probe Fed’s Cook Over Mortgages." "The director of the Federal HousFxstreet
Wed, Aug 20
Japan's July Exports Record Biggest Drop in Four Years; Exports to the US Decline for Fourth Consecutive Month
TradingKey - On Wednesday, August 20, Japan's Ministry of Finance released trade data showing that July exports fell by a larger-than-expected 2.6% year-on-year, marking the steepest decline since February 2021. Notably, exports to the US fell for the fourth consecutive month with a 10.1% year-on-yeTradingKey
Wed, Aug 20
Nasdaq suffers sharpest drop since August as AI optimism fades
US technology shares slid on Tuesday in New York trading as fresh doubts about the boom in artificial intelligence rippled through 2025’s biggest winners, pushing the Nasdaq Composite to its sharpest one-day fall since August 1 and dragging broader equities lower.Cryptopolitan
Wed, Aug 20
Federal Reserve Governor Calls For Regulators To Embrace Crypto
Federal Reserve (Fed) Governor Michelle Bowman is urging US regulators to abandon their “overly cautious mind-set” regarding cryptocurrencies, blockchain technology, and artificial intelligence (AI). Speaking at the Wyoming Blockchain Symposium, Bowman emphasized the need for a proactive approach toBitcoinist
Wed, Aug 20
Middle East Crude-Benchmarks hit near two-week high
SINGAPORE, Aug 20 (Reuters) - Middle East crude benchmark spot premiums of Oman, Dubai and Murban extended gains on Wednesday to their highest in nearly two weeks.Traders attributed the strength to closing arbitrage of U.S. crude to Asia and firm buying of some of the grades. India's resumed buy...
Reuters
Wed, Aug 20
UK CPI Rises to 18-Month High — Rate Cut Bets Plunge
TradingKey - Inflationary pressures are heating up once again in the UK. Data released on Wednesday showed that the Consumer Prices Index (CPI) rose 3.8% year-on-year in July, up from 3.6% in June and marking the highest level since January 2024 — an 18-month high.TradingKey
Wed, Aug 20
Pop Mart Soars Over 13%, Market Cap Tops HK$400 Billion; CEO Projects Effortless HK$30 Billion Revenue in 2025
TradingKey - On Wednesday, August 20, Pop Mart (9992.HK) shares soared more than 13% to HK$318.4 during Hong Kong trading, pushing its market cap past the HK$400 billion mark. The stock closed up 12.54% at HK$316.TradingKey
Wed, Aug 20
US examines equity stake in chip makers for CHIPS Act cash grants, sources say
Lutnick seeks equity stake in chip firms for CHIPS Act grantsBessent supports Intel investment to stabilize chip productionNon-voting stake proposed, no control over company operationsBy Andrea Shalal, David Shepardson, Nandita Bose and Max A. Cherney WASHINGTON/SAN FRANCISCO, Aug 19 (Reuters) - ...Reuters
Wed, Aug 20
NZ central bank cuts rates to 3-year low, flags more easing; kiwi tumbles
RBNZ cuts rates by 25 bps, signals more reductionsWarns of global, domestic headwinds to growthTwo of the RBNZ's six committee members voted for 50 bps cutNZ dlr and swaps tumble as markets surprised by dovish toneBy Lucy CraymerWELLINGTON, Aug 20 (Reuters) - New Zealand's central bank cut i...Reuters
Wed, Aug 20
Strategy Stock Plunges to 4-Month Low — Further 30% Decline Possible, Analysts Warn
On Tuesday, August 19, shares of Strategy Inc. ( MSTR) — the public company with the largest Bitcoin holdings — fell more than 7%, breaking below the key $350 support level to close at $336, its lowest price since April 2025.
TradingKey
Wed, Aug 20
RBNZ Cuts Rates, Hints at More Easing; NZD Sinks to Four-Month Low
TradingKey - The Reserve Bank of New Zealand (RBNZ) cut its Official Cash Rate (OCR) by 25 basis points to 3.0%, the lowest level since 2022, in line with market expectations. This marks the eighth rate reduction since the central bank initiated its easing cycle in August 2024, with cumulative...
TradingKey
Wed, Aug 20
“America First” on Steroids — 50% Tariffs Now Hit 407 Steel and Aluminum Products, But Who Will Pay the Price?
TradingKey - On August 19 (local time), the U.S. Department of Commerce announced the expansion of its steel and aluminum tariffs to 407 new product categories, imposing a 50% tariff rate on items including wind turbines, mobile cranes, railway vehicles, furniture, compressors
TradingKey
Wed, Aug 20
U.S. Tech Sell-Off Traced to MIT’s “AI Divide” Report — What It Reveals Is Spooking Investors
TradingKey - On Tuesday, August 19, the Nasdaq Composite, heavily weighted toward technology stocks, plunged 1.4% — its largest single-day drop since August began. Market participants attributed the sudden tech selloff to growing fears of an AI bubble, fueled by recent comments from OpenAI CEO Sam
TradingKey
Wed, Aug 20
