The internationally oriented FTSE 100 fell 0.2% as of 0943 GMT, while the domestically focused midcap FTSE 250 index was up 0.2%
International News via Reuters:
London’s main stock indexes were mixed on Wednesday as investors assessed a slew of corporate earnings ahead of the U.S. President Donald Trump’s August 1 tariff deadline.
The internationally oriented FTSE 100 fell 0.2% as of 0943 GMT, while the domestically focused midcap FTSE 250 index was up 0.2%.
Automobiles and parts stocks led the decline, down 2.1%, as Aston Martin lost 3.7% after the luxury carmaker issued a profit warning due to U.S. import tariffs and weak Chinese demand.
Meanwhile, personal goods index advanced the most with a 1.3% rise.
Among corporate updates, Taylor Wimpey lost 4.6%, the top loser in the FTSE 100 index, after the homebuilder cut its annual operating profit forecast.
HSBC Holdings fell 2.7% after a sharper-than-expected drop in profit due to losses in China.
Rio Tinto edged 0.7% down after its smallest first-half underlying profit in five years.
Sportswear retailer JD Sports fell 1.6% after its partner Adidas missed second-quarter sales expectations and flagged tariff costs.
Defence firm BAE Systems fell 2.3% despite upgrading its annual earnings forecast.
RHI Magnesita dropped 12.8%, the top loser on the FTSE 250 midcap index, after cutting its annual profit outlook.
In a bright spot, Glencore said it aims to save $1 billion in costs by the end of 2026, as part of a review of its industrial assets. Shares of the miner rose 1.8%.
Bodycote jumped 12.3%, the top gainer in the FTSE 250 midcap index, after the thermal processing services provider announced an additional 30 million pounds ($40 mln) share buyback.
GSK expects annual sales and profit to be towards the top of its forecast range, after quarterly sales and earnings beat expectations. Shares of the drugmaker rose 1%.
In the U.S., the Federal Reserve is expected to leave interest rates unchanged at its policy meeting later on Wednesday.
The Bank of England is expected to cut borrowing costs on August 7 for the fifth time since August last year.
Reporting by Sukriti Gupta in Bengaluru; Editing by Vijay Kishore
Excitement for the 2025 edition of the Cup Match Classic continues to build
Battle lines drawn at the Premier’s Annual Cup Match Reception, a young middle-distance runner competes in the British Final and a move from FC Copenhagen to Cardiff City could be in the cards for Nathan Trott.
With public safety a priority, Bermuda can expect high-visibility policing during the Cup Match holiday
The public can expect a highly visible police presence over the four day cup match holiday, including roadside sobriety checkpoints, stop and search at various locations, and CCTV around the island.
CCTV will also be in place throughout Wellington Oval during the cricket match.
Detective Chief Inspector Dorian Astwood and Chief Inspector Andrew Smalling joined the St George’s and Somerset club presidents to urge the public to enjoy the festivities while staying safe and legal.
*Short clip from the press conference above, full presser below…
Bermuda Police Service Press Release:
Detective Chief Inspector Dorian Astwood – “As Bermuda prepares to celebrate the Cup Match holiday, a time to reflect on our history, honour Emancipation Day and Mary Prince Day, and celebrate who we are as a people, the Bermuda Police Service (BPS) wishes to offer guidance to help ensure a safe and enjoyable holiday for all.
Our primary focus is public safety and community wellbeing throughout the four-day weekend.
With numerous events taking place island-wide, the public can expect an increased and highly visible police presence.
The BPS will be working in partnership with the Royal Bermuda Regiment (RBR) to:
Deter criminal activity and anti-social behaviour that could disrupt the festivities.
Promote road safety, including efforts to reduce traffic collisions, combat reckless driving, and prevent impaired driving.
As part of our road safety strategy, roadside sobriety checkpoints will be conducted at various locations across the island. These operations are designed to identify and deter impaired drivers before they pose a risk to themselves and others.
A proportionate policing approach will be applied to all major events throughout the long weekend.
The annual Cup Match between Somerset and St. George’s Cricket Clubs begins at 10:00 a.m. on Thursday and is expected to attract thousands of spectators.
The BPS, along with the RBR, will maintain a strong presence at the event, working closely with St. George’s Cricket Club and a private security firm.
CCTV coverage will be in place throughout the venue to help ensure a safe environment.
Alongside the Royal Bermuda Regiment Coast Guard, the BPS will ensure a visible and active presence on the water. Boaters are reminded to:
Ensure their vessels are properly registered and display a valid decal on the starboard side.
Have all mandatory safety equipment on board.
Carry sufficient fuel for their journey.
File a float plan if heading offshore.
Refrain from operating any vessel while under the influence of drugs or alcohol. Impaired boating is just as dangerous as impaired driving and will be actively enforced.
Our message is simple: enjoy the holiday responsibly. We all have a role to play in making Bermuda safer.
On behalf of the Commissioner of Police, I extend best wishes to the entire community for a safe, peaceful, and joyful Cup Match weekend.
We look forward to seeing many of you at the various events over the holiday.”
In a heartwarming celebration of community and tradition, Premier David Burt attended the beloved Tee’L Annual Pre-Cup Match and Emancipation Day Tea for Seniors on Monday, which was hosted by Terry Smith and Ms. Rose Hart.
The gathering, now in its eighth year, is a cherished tradition, and continues to honour Bermuda’s seniors and celebrate their invaluable contributions to the island’s heritage and community life.
The Minister of Youth, Social Development and Seniors, the Hon. Tinee Furbert, the Minister of Home Affairs, the Hon. Alexa Lightbourne, and Minister of Education, Sen. the Hon. Crystal Caesar, also attended the capacity event which welcomed several hundred seniors for an afternoon of fellowship, entertainment, and Cup Match spirit.
Premier Burt expressed his gratitude to Mr. Smith, Ms. Hart and all the volunteers for hosting this year’s event for Bermuda’s seniors, saying, “This event is a shining example of the love and respect we hold for our seniors. Mr. Smith and Ms Hart have created something truly special that has become a staple of the Cup Match calendar and brings joy and the opportunity for connection to those who have given so much to our island. Ministers and I look forward to attending each year and it has become a regular fixture in my Cup Match schedule. On behalf of the Government, I extend my heartfelt thanks to everyone involved in the Seniors’ Tea for giving our seniors something to look forward to each Cup Match and making this event such a success.”
This year, the event honoured union trailblazer Molly Burgess, Sharon Bartram, owner of the 27th Century Boutique, and the women’s softball team Big Blue Machine. As is tradition, the event also crowned its Miss Cup Match Somerset and Miss Cup Match St. George’s.
Minister Furbert shared her sentiments noting, “Our seniors are the backbone of our community. Events like this remind us of the importance of showing appreciation and ensuring they feel seen, valued, and celebrated.”
Minister Lightbourne added, “Our seniors built the foundations we stand on. Their resilience, wisdom, and quiet leadership are the reason our communities remain strong in the face of challenge. We owe Terry, Rose, the organizing committee, and every volunteer our thanks for creating a space that uplifts those who paved the way.”
And Minister Caesar said, “As Minister of Education, I am always reminded that learning is lifelong, and our seniors are among our greatest teachers. Today was a beautiful reminder of the importance of honouring their legacy.”
Islam was married, had two young sons, and his wife is pregnant
International News via Reuters:
The New York police officer killed in a mass shooting in a Manhattan skyscraper on Monday was an immigrant who left behind a pregnant wife, two young sons and distraught parents, and friends and officials in Bangladesh and the United States who described him as a hero.
A gunman opened fire on Monday inside a midtown office tower, killing four people, including Officer Didarul Islam, 36, before fatally shooting himself, officials said.
Excluding Islam, 42 federal, state, county, municipal, military, and U.S. territories officers have died in the line of duty in the first half of 2025, according to preliminary data from the National Law Enforcement Officers Memorial Fund.
Syed Tanjib Mujib, a childhood friend of Islam from their home district in the South Asian nation of Bangladesh, said Islam left for the U.S. with his parents and other family members in 2009.
“And the way he died, it’s heartbreaking, but not surprising. That’s just the kind of person he was,” he said. “Always thinking of others, always ready to help. He died trying to save lives … Our hearts are broken, but we’re proud of him. He’ll always be remembered.”
New York Mayor Eric Adams, who met the officer’s family on Monday night, also described the three and a half year veteran of the police department as a hero.
“He was saving lives, he was protecting New Yorkers,” Adams told reporters. “He loved this city, and everyone we spoke with stated he was a person of faith and a person that believed in God.”
Islam was married, had two young sons, and his wife is pregnant, Police Commissioner Jessica Tisch told reporters.
“He put himself in harm’s way. He made the ultimate sacrifice — shot in cold blood,” she said.
Islam was working on a paid security detail in the building when the shooting occurred, the commissioner added.
Mizanul Haque, a cousin of Islam, speaking to Reuters from the district of Moulvibazar in Bangladesh, said that Islam visited Bangladesh last year in February with his wife and their two boys, aged 7 and 5, and attended his wedding.
Haque said that Islam’s father suffered a stroke after hearing the news, and said that his mother hasn’t said a word since learning of his death.
“I have no idea how to console them,” he said. “What do you even say to a family that’s been shattered like this? All I can hope for now is justice. He didn’t deserve to die like this.”
Reporting by Ruma Paul in Dhaka; additional reporting by Kanshka Singh in Washington, DC and Rich McKay in Atlanta Editing by Frank McGurty, Michael Perry, Donna Bryson and Nick Zieminski
The French group, whose brands include Maybelline makeup and CeraVe skincare, posted a 2.4% rise in second-quarter sales
International News via Reuters:
L’Oreal <OREP.PA> warned on Tuesday that the EU’s trade deal with the U.S. would be costly and that the cosmetics maker would push for tariff exemptions, even as it reported improving demand for its makeup and hair products in the key U.S. market.
The French group, whose brands include Maybelline makeup and CeraVe skincare, posted a 2.4% rise in second-quarter sales, missing forecasts as growth in Europe slowed more than expected and demand at travel outlets in Asia was subdued.
However, a recovery in the United States, a small rebound in China, and double-digit growth in emerging markets helped to offset the slower rise in Europe, which accounts for a third of sales but is benefiting less as inflation eases.
Sales in April-June totalled 10.74 billion euros ($12.38 billion), up 2.4% on a like-for-like basis from a year earlier, but undershooting the 2.9% growth seen in a Visible Alpha consensus estimate cited by Jefferies.
Underlying growth, after stripping out the impact of phasing in a new IT system, was 3.7%, the company said.
“I don’t think it’s a good deal,” CEO Nicolas Hieronimus told Reuters of Sunday’s framework deal imposing a 15% tariff on U.S. imports of a range of EU goods, including cosmetics.
“We’re going to be writing to all the European leaders and negotiators to see whether there’s a loophole we could benefit from, because in the end it’s going to be costly,” he said.
L’Oreal, which imports around 30% of its U.S. sales, could raise prices and move more production to the country where it has four factories, but is waiting for further negotiations between U.S. President Donald Trump and other nations to be finalised before making decisions, he added.
The company expects a 35 to 40 basis points hit to 2025 sales growth, he said.
Jefferies analysts expect perfume sales in the U.S. to slow in the second half after tariffs are implemented, though Hieronimus said L’Oreal’s fragrance sales were currently growing by double-digits, compared to 7% for the broader market.
There is “some pricing power on fragrances, but we have to also consider the elasticity of the demand,” he added.
Growth in the U.S. picked up in the second quarter, thanks to “a bit less uncertainty”, as well as new makeup and haircare launches, Hieronimus said.
China, however, is “not really rebounding”, although L’Oreal recorded sales growth there for the first time in a year.
($1 = 0.8674 euros)
Reporting by Dominique PattonEditing by Mark Potter
Starmer said Britain would make the move at the United Nations General Assembly unless Israel took substantive steps to allow more aid to enter Gaza
International News via Reuters:
Britain announced on Tuesday it was prepared to recognise a Palestinian state in September unless the Israeli government takes substantive steps to end the “appalling situation” in Gaza and meets other conditions.
Prime Minister Keir Starmer’s decision follows in the footsteps of France, after President Emmanuel Macron confirmed his country’s intention to pursue recognition of a Palestinian state and to encourage other partners to do the same.
Below are some details about Starmer’s announcement, driven by a rising global outcry over starvation and devastation in Gaza amid Israel’s war against Hamas militants, as well as other nations’ position on having Palestinian statehood recognised.
WHAT DID STARMER SAY?
Starmer said Britain would make the move at the United Nations General Assembly unless Israel took substantive steps to allow more aid to enter Gaza, makes clear there will be no annexation of the West Bank, and commits to a long-term peace process that delivers a “two-state solution” – a Palestinian state co-existing in peace alongside Israel.
He said his government would make an assessment in September on “how far the parties have met these steps”, but that no one would have a veto over the decision.
The prime minister reiterated that there was “no equivalence between Israel and Hamas and that our demands on Hamas remain, that they must release all the hostages, sign up to a ceasefire, accept that they will play no role in the government of Gaza, and disarm”.
WHY DID STARMER DO THIS?
Successive British governments have said they will formally recognise a Palestinian state when the time is right, without ever setting a timetable or specifying the necessary conditions.
Starmer said the move was timed to affect the situation on the ground in Gaza at a moment when the prospect of a two-state solution was under grave threat.
A growing number of lawmakers in Starmer’s Labour Party have been asking him to recognise a Palestinian state to put pressure on Israel.
HOW COULD THIS AFFECT U.S.-UK RELATIONS?
Starmer has been building warm relations with U.S. President Donald Trump, and Britain has rarely strayed from the United States on foreign policy matters.
The two leaders met in Scotland on Monday, but U.S. President Donald Trump said he and Starmer did not discuss Britain’s plan during their meeting.
When asked on Monday whether he agreed with Starmer’s earlier position on Palestinian statehood being a concrete step towards a lasting peace, Trump said: “I don’t mind him taking a position. I’m looking for getting people fed right now – that’s the number one position. You have a lot of starving people.”
Following France’s announcement last week, Trump’s Secretary of State Marco Rubio outright rejected the plan, calling it a “reckless decision that only serves Hamas”.
HOW DID FRANCE REACT TO BRITAIN’S DECISION?
French Foreign Minister Jean-Noel Barrot wrote on X that Britain was “joining the momentum initiated by France for the recognition of the state of Palestine”.
“Together, through this pivotal decision and our combined efforts, we are putting an end to the endless cycle of violence and reopening the prospect of peace in the region,” Barrot said. “Nothing can stand in the way of a just and clear idea.”
WHAT HAS BEEN BRITAIN’S POSITION ON ISRAEL SINCE OCTOBER 7?
At the start of the Gaza war in October 2023, when Starmer was the opposition leader, he fully backed Israel’s right to defend itself. But his stance has shifted over the years to a tougher approach to Israel, especially since his election as prime minister just over a year ago.
His government dropped the previous administration’s challenge over arrest warrants issued by the International Criminal Court for Israeli Prime Minister Benjamin Netanyahu, and has suspended some weapon sales to Israel.
Last month, Britain sanctioned two far-right Israeli cabinet ministers, Itamar Ben-Gvir and Bezalel Smotrich, accusing them of repeatedly inciting violence against Palestinians.
WHO ELSE HAS RECOGNISED PALESTINIAN STATEHOOD?
Last year, Ireland, Norway and Spain recognised a Palestinian state with its borders to be demarcated as they were prior to the 1967 Middle East war, when Israel captured the West Bank, Gaza and East Jerusalem.
However, they also recognised that those borders may change in any eventual talks to reach a final settlement, and that their decisions did not diminish their belief in Israel’s fundamental right to exist in peace and security.
About 144 of the 193 member states of the United Nations recognise Palestine as a state, including most of the global south as well as Russia, China and India. But only a handful of the 27 European Union members do so, mostly former Communist countries as well as Sweden and Cyprus.
The U.N. General Assembly approved the de facto recognition of the sovereign state of Palestine in November 2012 by upgrading its observer status at the world body to “non-member state” from “entity”.
WHO COULD BE NEXT?
Starmer’s decision may put pressure on other major countries like Germany, Australia, Canada and Japan to take the same path.
Germany said on Friday it was not planning to recognise Palestinian statehood in the short term, with its priority to make “long-overdue progress” towards a two-state solution – Israel and a Palestinian state co-existing in peace.
Italy’s foreign minister said recognition must occur simultaneously with the recognition of Israel by a new Palestinian state. “A Palestinian state that does not recognise Israel means that the problem will not be resolved,” Antonio Tajani told a gathering in Rome.
Reporting by Catarina Demony;Additional reporting by Sam Tabahriti; Editing by Jan Harvey
The model, called Skild Brain, enables robots to think, navigate and respond more like humans
International News via Reuters:
Robotics startup Skild AI, backed by Amazon.com and Japan’s SoftBank Group, on Tuesday unveiled a foundational artificial intelligence model designed to run on nearly any robot — from assembly-line machines to humanoids.
The model, called Skild Brain, enables robots to think, navigate and respond more like humans. Its launch comes amid a broader push to build humanoid robots capable of more diverse tasks than the single-purpose machines currently found on factory floors.
In demonstration videos, Skild-powered robots were shown climbing stairs, maintaining balance after being shoved, and picking up objects in cluttered environments – tasks that require spatial reasoning and the ability to adapt to changing surroundings.
The company said its model includes built-in power limits to prevent robots from applying unsafe force.
Skild trains its model on simulated episodes and human-action videos, then fine-tunes it using data from every robot running the system. Co-founders Deepak Pathak and Abhinav Gupta told Reuters in an exclusive interview that the approach helps tackle a data scarcity problem unique to robotics.
“Unlike language or vision, there is no data for robotics on the internet. So you cannot just go and apply these generative AI techniques,” Pathak, who serves as CEO, told Reuters.
Robots deployed by customers feed data back into Skild Brain to sharpen its skills, creating the same “shared brain,” said Gupta, who previously founded Meta Platforms’ robotics lab in Pittsburgh.
Skild’s clients include LG CNS – the IT solutions arm of LG Group – and other unnamed partners in logistics and other industrial applications.
Unlike software, which can scale quickly, robotics requires physical deployment, which takes time, but Skild’s approach allows robots to add new capabilities across different industries quickly, said Raviraj Jain, partner at the startup’s investor Lightspeed Venture Partners.
The two-year-old startup, which has hired staff from Tesla, Nvidia and Meta, raised $300 million in a Series A funding round last year that valued it at $1.5 billion. Its investors include Menlo Ventures, Khosla Ventures, Sequoia Capital and Amazon.com founder Jeff Bezos.
Reporting by Akash Sriram in Bengaluru; Editing by Tasim Zahid
The dollar index rose 0.37% to 98.98, rising to its highest level since June 23
International News via Reuters:
The dollar hit a one-month high versus the euro on Tuesday in the wake of a string of trade agreements between the United States and its major trade partners, even as markets await interest decisions from the Federal Reserve.
U.S. President Donald Trump struck his biggest trade deal yet with the European Union on Sunday, which imposes a 15% import tariff on most EU goods and includes $600 billion of EU investments into the United States. That deal tops a $550 billion deal signed with Japan last week that includes a 15% reciprocal tariff.
Investors are also eyeing ongoing trade discussions between the United States and China. Top U.S. and Chinese economic officials met in Stockholm on Monday for more than five hours in a bid to resolve long-standing economic disputes at the center of a trade war.
The euro was down 0.44% against the dollar at $1.1538, hitting its lowest level since June 23. The single currency had dropped 1.29% in the previous session, its steepest one-day decline since mid-May. The euro is poised to record its first monthly loss against the dollar this year.
“After falling sharply in the first half of the year, the dollar began July with a bounce and I think it’s mostly short covering, and the issue is whether this is a trend change or an overdue technical correction,” said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York.
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.37% to 98.98, rising to its highest level since June 23. The index is set to record its first month of gains this year.
“The market had a sigh of relief that the tariffs, at the least the plan announced with Japan and the EU and the likely 90-day extension with China, helped remove downside tail risk,” Chandler said.
Several EU leaders have criticized the trade agreement reached with the United States. German Chancellor Friedrich Merz said his economy would suffer significant damage due to the agreed tariffs. France’s prime minister on Monday called the agreement a “dark day” for Europe.
Markets anticipate that the Fed will leave interest rates unchanged at the end of its monetary policy meeting on Wednesday. U.S. Treasuries slipped on the session, with the yield on benchmark U.S. 10-year notes fell 6.2 basis points to 4.358%.
“Ahead of (Wednesday’s) Fed decision, we might get some consolidation. People are concerned about a possible dissent from at least one of the governors, maybe it’s (Christopher) Waller or (Michelle) Bowman,” Chandler added.
The Bank of Japan also is likely to hold off raising interest rates on Thursday after the Japanese trade agreement with the United States last week.
The dollar was down 0.03% to 148.48 against the Japanese yen. Against the Swiss franc, the dollar strengthened 0.47% to 0.807 francs.
Currency
bid
prices at
29 July
03:09
p.m. GMT
Descripti RIC Last U.S. Pct YTD High Low
on Close Chan Pct Bid Bid
Previo ge
us
Sessio
n
Dollar 99.01 98.613 0.41 -8.74 99.14 98.5
index 1 % % 3 82
Euro/Doll 1.153 1.1587 -0.4 11.38 $1.15 $1.1
ar 1 8% % 99 519
Dollar/Ye 148.3 148.55 -0.1 -5.7% 148.7 148.
n 6 1% 55 235
Euro/Yen 171.0 172.11 -0.6 4.82% 172.3 171.
8 % 1 06
Dollar/Sw 0.806 0.8038 0.43 -11.0 0.807 0.80
iss 9 % 5% 9 29
Sterling/ 1.333 1.3355 -0.1 6.63% $1.33 $1.3
Dollar 3 4% 61 308
Dollar/Ca 1.377 1.3741 0.27 -4.19 1.378 1.37
nadian 5 % % 9 32
Aussie/Do 0.650 0.6521 -0.1 5.21% $0.65 $0.6
llar 8 7% 3 496
Euro/Swis 0.930 0.9309 -0.0 -0.96 0.932 0.92
s 3 6% % 4 96
Euro/Ster 0.864 0.8674 -0.3 4.5% 0.868 0.86
ling 5 3% 5 43
NZ 0.595 0.5972 -0.2 6.43% $0.59 0.59
Dollar/Do 4 7% 76 43
llar
Dollar/No 10.22 10.19 0.31 -10.0 10.24 10.1
rway 2 % 6% 56 871
Euro/Norw 11.78 11.803 -0.1 0.14% 11.83 11.7
ay 54 5% 3 86
Dollar/Sw 9.663 9.5976 0.69 -12.2 9.690 9.60
eden 8 % 8% 4 3
Euro/Swed 11.14 11.141 0.01 -2.83 11.16 11.1
en 24 5 % % 89 33
Reporting by Chibuike Oguh in New York, Rae Wee in Singapore and Lucy Raitano in London; additional reporting by Naomi Rovnick in London; Editing by Muralikumar Anantharaman, Kim Coghill, Hugh Lawson. Will Dunham and Chizu Nomiyama
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