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Ukrainian President Volodymyr Zelenskiy said the US resumed shipping military aid to Ukraine, which was unexpectedly put on hold last week.

“According to all reports, the supply has been renewed,” Zelenskiy said late Friday in his daily video address to the nation. “We will continue to work with the American side at the military level, in particular our military with General Keith Kellogg.”

Kellogg is a retired general and the US special envoy for Ukraine and Russia.

Saudi Arabia is asking the companies that OPEC uses for independent analysis of oil-production levels to submit a lower figure for the kingdom’s June output, according to people familiar with the matter.

Riyadh is arguing that the standard practice — measuring oil production — wasn’t appropriate for the month, and that they should instead adopt a different metric called supply-to-market, said several people at the firms, who asked not to be identified as the process is private.

Such requests are unusual and would allow Saudi Arabia to stay within output quotas that Riyadh encourages other producer nations to stick to. The metric they’re being asked to use would give a figure that’s about 400,000 barrels a day lower over the month, one of the people said.

Brightline Trains Florida, the Fortress Investment Group-backed passenger railroad, plans to defer a July 15 interest payment on its 10% and 12% unrated tax-exempt bonds, according to people familiar with the matter.

Brightline notified holders of the delay through the Depository Trust Company, said the people who asked not to be identified because they’re not authorised to speak publicly. The incident is not considered an event of default, according to the bond documents. A default only occurs if the railroad misses three consecutive interest payments, the documents state.

The unpaid portion, as well as subsequent interest payments due, will continue to accrue at the coupon rate in addition to an extra 2% until interest is paid, according to the bond documents.

The debt was sold in 2024 through a state borrower known as the Florida Development Finance Corp. The private rail line currently connects Miami and Orlando.

Rio Tinto Plc says it has a “strong desire” to invest in US copper mining following President Donald Trump’s plans to levy imports of the critical metal.

“There is increasing recognition by the US government of the need for domestic sources of copper and other critical materials to support manufacturing and to power the country’s energy future,” Chief Executive Officer Katie Jackson said in an emailed statement. “We have a strong desire to invest more in American copper and we see significant opportunities to grow our business in the United States.”

Trump’s plans to slap 50% tariffs on copper imports are expected to raise costs across a broad section of the US economy that relies on the metal for consumer electronics, automobiles, home construction and more. The levies are aimed at supporting a robust domestic supply chain for the commodity, though analysts warn that permitting obstacles and litigation still stand in the way of building mines quickly.

BASF SE warned that earnings will come in lower than previously expected this year as US tariffs and geopolitical uncertainties weigh on demand.

Ebitda before special items is expected to be between €7.3 billion ($8.5 billion) and €7.7 billion in 2025, compared to earlier guidance of €8 billion to €8.4 billion, the chemicals maker said Friday.

In the second quarter, sales declined by 2.1% to €15.77 billion, while Ebitda before special items dropped to €1.77 billion from €1.96 billion in the year-earlier period.

BASF is among industrial manufacturers struggling with high energy costs and tepid demand, especially in China, a former profit driver. German companies are especially vulnerable to tariffs as they rely on exports for a significant share of their sales.

Ukrainian telecommunications infrastructure is coming under constant cyberattacks from Russia as part of the war, according to the chief executive officer of the country’s largest mobile operator.

“We see regular attempts, different types of attacks, aimed at destroying infrastructure,” Kyivstar PJSC’s Oleksandr Komarov said Friday in an interview at the Ukraine Recovery Conference in Rome. The attempted hacks are targeting operations and don’t pose much threat to clients’ personal data, he said.

Kyivstar, which is telecommunications company Veon Ltd’s Ukrainian subsidiary, previously attributed a 2023 cyberattack that disrupted its network to Russian state actors. The attack knocked out phone and internet services for about 24 million people, hampering digital banking services, ATMs and some air raid sirens.

GE Vernova will pay $10.5 million to the island community of Nantucket after one of its offshore wind turbine blades broke into pieces and washed ashore last year.

The July incident infuriated the wealthy community, which complained about the brief beach closure and damage to the pristine coast. The busted blade from the Vineyard Wind development was also an example of the struggles the offshore wind industry faces, which include inflation and hostility from the Trump administration.

Food and Drug Administration Commissioner Marty Makary said his agency may fast-track new drugs from pharmaceutical companies that “equalise” the cost of their medicines between the US and other countries, an unusual proposition from the regulator that’s long avoided contentious pricing debates.

The comments, made in an interview on Bloomberg Television’s Wall Street Week with David Westin, offer insight into an idea floated to help the administration achieve one of President Donald Trump’s main health-care goals: ensuring foreign countries aren’t getting a better deal on drugs. Trump demanded that Americans get similar or lower prices as consumers in other countries in an executive order signed in May.

The board of UK landlord Warehouse REIT Plc has recommended shareholders accept an increased offer for the company made by Blackstone Inc. that topped a proposal by rival Tritax Big Box REIT Plc.

Blackstone’s latest offer is “fair and reasonable,” Warehouse REIT said in a statement Friday. The revised proposal provides shareholders with a “certain all-cash offer” at a premium to Tritax’s cash and share bid, Warehouse REIT chairman Neil Kirton said.

Blackstone has offered 113.4 pence a share in cash for the company. Its bid includes a dividend due to be paid later this month, bringing the total consideration to 115 pence a share, a 3.5% premium to the Tritax bid that the board had previously recommended.

Blackstone has already agreed to buy about a 10.5% stake in Warehouse REIT. Separately, the alternative investment giant announced later on Friday that it has consented to acquire a further 3.02% at a weighted average price of 113.4 pence a share. That would take the potential total holding to roughly 13.8%, it said.

Goldman Sachs Group Inc. and BBVA SA are among a group of lenders providing €500 million ($584 million) of debt to back Warburg Pincus’ buyout of a majority stake in Uvex Group, according to people with knowledge of the deal.

Commerzbank AG, Natixis and UniCredit SpA are also providing the financing, which is expected to land in the syndicated loan market in September, the people said, asking not to be named as the details were private. The package will consist of a €400 million term loan and a €100 million revolving credit facility, they added.

US private equity company Warburg’s purchase of the Uvex stake looks set to be a rare buyout deal for debt investors after a slump in mergers and acquisitions activity. A surplus of capital has meant any loans coming to the market in recent weeks — mainly from PE firms looking to improve their portfolio companies’ capital structures — have been snapped up.

US banks are poised to show gains from a tumultuous period that followed President Donald Trump’s tariff announcements, with executives expected to go further and suggest how such hauls might grow even more thanks to deregulation.

The six biggest US banks are scheduled to disclose second-quarter results next week, with analysts predicting trading-revenue increases for all of them, data compiled by Bloomberg shows. That’s largely due to record trading days for some firms in the aftermath of Trump’s “Liberation Day” tariff announcements in April.

In equities, Goldman Sachs Group Inc. is expected to be the leader, with a $3.7 billion haul forecast, followed closely by Morgan Stanley. In fixed income, currencies and commodities, JPMorgan Chase & Co. is likely to lead, with $5.2 billion for the quarter, followed by Citigroup Inc.

The trade union Unite suspended Deputy Prime Minister Angela Rayner and announced plans to “re-examine” the relationship with Labour, portending a split between the UK’s governing party and one of its historically biggest funders.

Labour’s biggest affiliate trade union, Unite, suspended Deputy Prime Minister Angela Rayner and announced plans to “re-examine” its relationship with the UK’s governing party in a sign of growing portending a split with one of its most significant funders.

Unite voted at its policy conference on Friday to suspend Rayner for her role in a dispute over bin collection strikes gripping the city of Birmingham. The union also passed a motion saying it would “discuss its relationship with Labour,” if the redundancy process for bin workers is pushed through.

Performance Food Group Co. has attracted takeover interest from US Foods Holding Corp., a potential deal that would create a food distribution company with combined sales of roughly $100 billion, people familiar with the matter said.

Rosemont, Illinois-based US Foods has been evaluating an acquisition of Performance Food and expressed interest about a potential combination in recent months, according to the people, who asked not to be identified because the information is private.

Shares of Performance Food rose as much as 5.1% on Friday, the biggest intraday gain in three months, to hit an all-time high. They were up 4% at 9:57 a.m. in New York, giving the company a market capitalisation of about $14.7 billion. US Foods shares rose 1.2%, valuing the company at $18.8 billion.

There’s no certainty the deliberations will lead to a transaction, the people said. Representatives for US Foods and Performance Food declined to comment.

US President Donald Trump is likely to stick with convention when he picks the next Federal Reserve Chair, according to one of the world’s biggest bond managers.

Despite Trump’s vocal calls for lower interest rates and his public admonishments of current Fed chief Jerome Powell, the names rumoured “all look like well-qualified candidates,” said Andrew Balls, global fixed income chief investment officer at Pacific Investment Management Co LLC.

Although Powell — who Trump himself appointed — isn’t due to bow out until May, the President has already indicated that he has various candidates in mind. The front-runners include Kevin Warsh and Kevin Hasset, along with current Fed official Christopher Waller, who was formally nominated by Trump in 2020. US Treasury Secretary Scott Bessent is also in the mix.

Mercuria Energy Group and a Zambian state-owned company are set to ship their first copper under a new trading partnership after obtaining a government waiver to export a semi-processed form of the metal.

The venture, working with mining companies, has secured copper concentrates to sell, Mulumba Lwatula, head of mining and energy investments at Zambia’s Industrial Development Corp., said by phone Friday.

The government on June 28 suspended a 10% duty on 255,357 metric tons of concentrates exported via the IDC, according to regulations issued the day before. The waiver ends Oct. 1, the regulations show.

Zambia’s partnership with Mercuria is part of a broader continental drive to derive more benefits from its mineral wealth and retain a greater share of the proceeds.

A protracted battle in China’s food-delivery market has chopped $100 billion in market value from Alibaba Group Holding Ltd., with no end in sight for damage to profits and investor confidence.

Its Hong Kong-listed shares plunged 27% from a March high through Friday, nearly double the loss in a gauge of Chinese tech peers. Rivals JD.com Inc. and Meituan have dropped by similar measures amid daily headlines on government efforts to contain the destructive hyper-competition being dubbed “involution.”

At least four brokers, including Goldman Sachs Group Inc. and HSBC Holdings Plc, have cut their price targets by an average of 8% since late June as the latest phase of the years-long turf war continues to escalate.

A multibillion-dollar capital markets experiment is unfolding on Wall Street, as entrepreneurs use blank-check companies and reverse mergers to take their holdings of digital assets public.

Firms from SoftBank Group Corp.-backed Twenty One Capital and Justin Sun’s Tron Inc. to influencer Anthony Pompliano’s ProCap Financial Inc. are raising equity and convertible debt to buy crypto — injecting the assets into vehicles that already trade on a stock exchange, with varying degrees of financial engineering.

The wager: that markets will keep rewarding leveraged access to volatile tokens. That’s even as short sellers like Jim Chanos warn the model only works in the good times — and retail investors may be left holding the bag if token premiums vanish.

Stocks retreated from all-time highs as President Donald Trump intensified his trade offensive, sending the dollar higher against most of the world’s major currencies. Concerns about the potential inflationary impacts of tariff hikes weighed on Treasuries.

Following a rally that drove the S&P 500 to its fifth record in nine trading days, equity bulls took a breather on Friday. Meta Platforms Inc. and Apple Inc. led losses in megacaps, while Nvidia Corp. continued to rise after hitting the $4 trillion milestone.

Cryptocurrency-exposed climbed after Bitcoin topped $118,000 for the first time. The six biggest US banks are set to report earnings next week, with analysts predicting trading-revenue increases.

Ethiopia’s nascent exchange commenced equities trading with two listed lenders, Wegagen Bank SC and Gadaa Bank SC, and some government securities. Both stocks were selling at 1,000 birr ($7.30) each, valuing Wegagen at about $45.5 million and Gadaa at $9.02 million.

“Today marks another milestone for ESX and stakeholders that worked hard for the past few years to deepen the Ethiopian capital market,” Chief Executive Officer Tilahun Kassahun said. As many as nine equity listings are expected by the end of the year, and all banks and insurers will be listed within three years, he said.

Delta Air Lines Inc. has been cannibalising new Airbus SE jets in Europe by stripping off their engines and using them to get grounded planes in the US back into service, as it seeks to overcome a shortage and avoid aircraft import tariffs.

The airline has been taking US-made Pratt & Whitney engines off new European-built A321neos and shipping them back to the States without any duties, according to people familiar with the matter. The engine-less aircraft, meanwhile, remain in Europe.

Delta has parked some older A320neo-family jets because of issues with their original turbines. These aircraft can be fitted with engines originally built in the US and installed on the new aircraft, said the people, asking not to be identified, discussing confidential information.

Stocks dropped Friday, a day after the S&P 500 posted a new record high, after President Donald Trump announced a 35% tariff on Canada and threatened higher tariffs across the board.

The Dow Jones Industrial Average lost 222 points, or 0.5%. The S&P 500 slid 0.4%, and the Nasdaq Composite dipped 0.3%.

Trump cited fentanyl as a reason for higher Canadian duties, adding that they would go higher if the country retaliates. “If Canada works with me to stop the flow of Fentanyl, we will, perhaps, consider an adjustment to this letter,” Trump said in a letter posted on Truth Social.

A German steelmaker became the latest stock to benefit from a surge in European defense spending this week after getting the go-ahead for one of its products to be used for military purposes.

Salzgitter AG shares are up 30% since last Friday’s close, with a large part of the gains coming after Germany approved the company’s Secure 500 product, which has a level of steel hardness that can withstand ballistic attacks. Cautious comments from analysts failed to quell investor enthusiasm as the stock traded 14% above its average price target and headed for its best weekly gain this year.

Salzgitter’s gains offer the latest example of investors seizing on companies with any links to defense as Europe diverts billions toward increasing military budgets. Goggle makers, chemicals producers, and even a printing company, are among stocks to have gotten a boost.

The cost of default insurance on Oman’s government debt fell to a record low after Moody’s Ratings upgraded the government to investment grade. The country’s bonds rallied.

Credit default swaps for Oman’s debt risk in the next five years fell 3.8 basis points to 86.4 on Friday, taking its weekly slide to almost 13 basis points. The gauge has narrowed on 15 of the past 16 days.

Oman’s 2047 sovereign dollar bond rose as much as 1 cent on the dollar to the highest level since March. Five of the country’s securities figure among the top 10 performers in the Bloomberg EM Sovereign Total Return Index.

Louis Vuitton UK said hackers have stolen some customer data as the luxury brand becomes the latest target in a string of cyberattacks against retailers.

On July 2, an unauthorised third party accessed the systems of the British unit of LVMH Moet Hennessy Louis Vuitton SE’s flagship brand and took information such as names, contact details and purchase history. No financial data, like bank details, were accessed, the company said in an email to customers on Friday.

“While we have no evidence that your data has been misused to date, phishing attempts, fraud attempts, or unauthorised use of your information may occur,” the email said. The company has notified relevant authorities, including the Information Commissioner’s Office.

The Canadian economy shrugged off tariff uncertainty and added the largest number of jobs in six months, with the unemployment rate falling for the first time since January.

Employment grew by 83,100 positions in June, and the jobless rate fell 0.1 percentage points to 6.9%, Statistics Canada data showed Friday. Both figures far exceeded even the most optimistic projection in a Bloomberg survey of economists. Part-time work, however, was responsible for 84% of employment growth last month.

June marked the first time in five months when the economy created enough jobs to keep unemployment from rising, after months of tepid gains and losses. At the same time, Canada added a net of 143,800 jobs over the last six months, the slowest first-half year pace since 2018, excluding the pandemic, with a monthly average of 24,000 job gains.

HSBC Holdings Plc has left the world’s biggest climate alliance for banks, which was rocked earlier this year by an exodus of the biggest lenders in the US.

In a statement announcing its departure from the Net-Zero Banking Alliance, which was posted Friday, HSBC said it remains “resolute” in its long-term ambition to achieve net-zero financed emissions by 2050.

HSBC said NZBA played an important role in helping banks develop frameworks for setting emissions reductions targets, and “with this foundation in place, and as we work towards updating and implementing our Net Zero Transition Plan later in 2025, we, like many of our global peers, have decided to withdraw from the NZBA.”

The skeptics are being left in the dust amid Bitcoin’s record-breaking rally, with over $1 billion in bearish crypto bets being liquidated over the past 24 hours.

More than 279,00 traders had positions wiped out over that period as Bitcoin surged to an all-time high of $118,847, according to data compiled by Coinglass. The largest single Bitcoin liquidation, valued at $88.5 million, was on the exchange HTX. Overall, about $1.29 billion in positions were wiped out across all tokens, the most this year.

“The conditions for a slow grind higher have been in place for some time,” said Augustine Fan, a partner at crypto trading platform SignalPlus. “Today’s move appears to be a product of that setup.”

Bitcoin broke out of a nearly two-month lull late Thursday, just as US President Donald Trump unleashed a trade salvo that sent stocks lower. By early Friday in London, the original cryptocurrency topped $118,000 for the first time and some options traders were targeting levels as high as $150,000. The crypto gains were widespread, with a host of tokens from Ether to Cardano notching big advances.

US President Donald Trump threatened a 35% tariff on some Canadian goods and raised the prospect of increasing levies on most other countries, ramping up his trade rhetoric in comments that weighed on stocks and boosted the US dollar.

The tariff level on Canada would take effect from Aug. 1, the president said. The announced rate is an increase from the current 25% tariff that’s imposed on US imports from Canada that aren’t shipped under the terms of the US-Mexico-Canada Agreement.

Russia’s coal industry has slipped into crisis under the weight of high borrowing costs and sanctions as slowing demand in China compounds with falling prices to expose deeper cracks in the economy.

Only half of Russia’s coal companies remained profitable in 2024, according to the Federal Statistics Service, and the situation is continuing to deteriorate. One top miner, Mechel PJSC, said on June 30 that it may cut sales by a quarter this year and has already begun scaling back output as each newly mined ton deepens losses. Some mines in Siberia have had to halt output.

US Secretary of State Marco Rubio said a summit between President Donald Trump and Chinese leader Xi Jinping is likely after having his first face-to-face meeting with his Chinese counterpart in Malaysia.

Rubio said he had a “very constructive and positive” sit-down with Chinese Foreign Minister Wang Yi on Friday, building on momentum in bilateral ties after Trump earlier this week described their recent relations as “really good.” The gathering was seen as a prelude to a possible leadership summit, which Trump said he’d like to happen this year.

“There’s a strong desire on both sides to do it,” Rubio told reporters in Kuala Lumpur, where the envoys attended a gathering hosted by the Association of Southeast Asian Nations. “I think the odds are high,” he said, adding that the two countries will find a “mutually acceptable date.”NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.