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Citigroup shares surge over 10% on profit beat, core business strength

The bank's profit fell to $4.5 billion, or $2.19 a share, in the quarter ended June 30, from $6.2 billion, or $2.85 a share, a year earlier

Unsafe haven: Gold set for fifth weekly loss as US dollar strengthens

Spot gold was down 0.3% at $1,704.99 per ounce, as of 0916 GMT, and lost 2.2% so far this week. U.S. gold futures eased 0.2% to $1,701.90.

Crude oil prices up 2.5% as no immediate Saudi output boost expected

The comment during U.S. President Joe Biden's Middle East visit comes at a time when spare capacity at members of the Organization of the Petroleum Exporting Countries (OPEC) is running low.

Wall Street climbs as investors trim bets on rate hike; Dow up 500 points

The S&P 500 was up 50.87 points, or 1.34%, at 3,841.25, and the Nasdaq Composite was up 120.63 points, or 1.07%, at 11,371.81

Oil rises on expectations for no immediate boost to Saudi production

By Rowena Edwards

Judge in Twitter vs Elon Musk makes rare ruling, ordering deal to close

The judge overseeing Twitter Inc's $44 billion lawsuit against Elon Musk has a no-nonsense reputation as well as the distinction of being one of the few jurists to close a US corporate merger.

We could ban Russian fuel imports six months ahead of deadline: EU official

The EU has been reducing imports of Russian oil products since March, after Moscow sent thousands of troops into Ukraine, and agreed a full ban from February 2023

Planting of summer-sown crops ramps up as monsoon revives in India

By Rajendra Jadhav

Adani Ports to boost trade lanes with joint Haifa Port acquisition

After a two-year tender process, Adani Ports and local chemicals and logistics group Gadot clinched the 4.1 billion shekel ($1.18 billion) winning bid for Haifa Port

Sri Lanka: Speaker formally accepts Gotabaya Rajapaksa's resignation

Crowds set off firecrackers, shouted slogans and danced ecstatically at the Gota Go Gama protest site, named mockingly after Rajapaksa's first name

Stocks stumble, dollar steadfast as weak China hardens growth worries

China's economy contracted sharply in the second quarter data released on Friday showed, while annual growth also slowed significantly

Dollar pauses for breath as Fed leaves market pondering over rates path

The dollar index, which measures the currency versus six counterparts, edged 0.07% higher to 108.65, after reaching and then falling back from the highest since September 2002 at 109.29 on Thursday

SEC steps up scrutiny over Musk's comments on $44 billion Twitter deal

The agency was referring to his May 17 tweet in which he said the "deal cannot move forward" until Twitter provided more data about how the company handled fake accounts

Israel sells Haifa Port to Adani Ports, Israel's Gadot for $1.2 bn

Israel in recent years has been selling its government-owned ports and allowing new, private piers to be built in an effort to shorten wait times for cargo ships and lower the costs of imports

Italian PM Mario Draghi to quit after 5-Star mutiny

Draghi's resignation was necessitated after a party in his ruling coalition did not participate in a confidence vote

Wall Street drops as bank earnings disappoint, producer prices surge

JPMorgan, Morgan Stanley report profit miss; PPI surges more than expected in June; Conagra Brands falls on downbeat forecast

World stocks skid as interest rate hike bets keep investors cautious

By Katanga Johnson

JPMorgan, Morgan Stanley earnings bode badly for Wall Street dealmakers

Both lenders attributed the slump to the challenging macroeconomic environment, including soaring volatility sparked by the conflict in Ukraine

Gold sheds over 2%, silver 5% on rampant dollar as Fed rate hike looms

By Ashitha Shivaprasad

Oil prices tumble more than $4 ahead of potential large US rate hike

By Julia Payne and Rowena Edwards