Daily Newsroom
Follow market-moving stories, policy signals, and company developments curated by the editorial desk.
Lead story
Jeff Bezos's space company, Blue Origin, is reportedly raising $10 billion in its first external funding round, which would value the aerospace firm at $130 billion.
The British pound fell against a broadly stronger U.S. dollar on Wednesday, influenced by rising oil prices, geopolitical tensions, and investor positioning ahead of the release of Federal Reserve meeting minutes.
The U.S. dollar gained on Wednesday as investors sought safe-haven assets after President Donald Trump's pessimistic comments on a U.S.-Iran framework deal. The remarks followed an exchange of military strikes, leading to a surge in oil prices and bond yields.
The U.S. dollar gained on Tuesday as investors sought safe-haven assets following reports of attacks on three oil tankers near the Strait of Hormuz. The incidents, which the U.S. has attributed to Iran, led to a spike in oil prices and overshadowed monetary policy as the main driver for the currency.
According to a Bank of America analysis, speculative short positions against the Japanese yen have reached stretched levels, increasing the risk of a market sell-off. The report highlights that foreign investors sold Japanese bonds and equities in June amid growing fiscal concerns.
Amazon has achieved a key milestone with its satellite internet constellation, while Rocket Lab has reportedly moved to acquire Iridium Communications. These developments intensify the race against competitors like SpaceX for finite orbital resources as a crucial U.S. Federal Communications Commission vote on licensing approaches.
Brokerage firm D.A. Davidson has begun coverage of two social media platforms, issuing a Buy rating for Pinterest and a Neutral rating for Snap. The firm sees more immediate growth potential for Pinterest's advertising business and user engagement.
Shares of Target Corp. climbed on Monday, buoyed by a new in-store beauty initiative and a series of positive analyst ratings. The rally comes despite a broader market downturn and follows the company's recent return to positive sales growth.
DWS Group, the asset management division of Deutsche Bank, is reportedly planning to rebrand as Deutsche Asset Management later this year. The move aims to increase visibility with institutional clients outside of Germany by leveraging its parent company's global brand recognition.
