Italy's Banco BPM looking at extraordinary operations, CEO says
"It will be and agreed choice," Castagna said in an interview.
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Reuters
8 minutes ago
- Reuters
Hims and Hers beats quarterly profit on steady subscription growth
NEW YORK, Aug 4 (Reuters) - Hims and Hers Health (HIMS.N), opens new tab beat Wall Street estimates for second-quarter profit on Monday, aided by continued subscription growth and surging volume in the telehealth company's weight-loss business. The company reported a quarterly profit of 17 cents per share, higher than the average analyst estimate of 15 cents, according to LSEG data. However, shares fell about 10% in extended trading as quarterly revenue of $544.8 million missed analysts' average expectation of $551.6 million.
Reuters
an hour ago
- Reuters
Trump threatens to raise tariffs on goods from India over Russian oil purchases
WASHINGTON, Aug 4 (Reuters) - Donald Trump said on Monday he will substantially raise tariffs on goods from India over its Russian oil purchases, while New Delhi said it would take measures to safeguard its interests and called its targeting by the U.S. president "unjustified." Trump said last week Washington was still negotiating with India on trade after announcing the U.S. would impose a 25% tariff on goods imported from the country starting last Friday. India has faced pressure from the West, including the U.S., to distance itself from Moscow after Russia invaded Ukraine in early 2022. New Delhi has resisted that pressure, citing its longstanding ties with Russia and economic needs, opens new tab. "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don't care how many people in Ukraine are being killed by the Russian War Machine," Trump said in a post on Truth Social. "Because of this, I will be substantially raising the Tariff paid by India to the USA." He did not elaborate on what the tariff would be. Over the weekend, two Indian government sources told Reuters that India will keep purchasing oil from Russia despite Trump's threats. The sources did not wish to be identified due to the sensitivity of the matter. Washington has cited geopolitical disagreements with India to explain why it has not yet been able to reach a trade deal with New Delhi. Other than India's ties with Russia, Trump has cast the BRICS group of developing nations - of which India is a key part - as hostile to the U.S. Those nations have dismissed that accusation, saying the group promotes the interests of its members and of developing countries at large. A spokesperson for India's foreign ministry said India will "take all necessary measures to safeguard its national interests and economic security." "In this background, the targeting of India is unjustified and unreasonable," the spokesperson added. India began importing oil from Russia because traditional supplies were diverted to Europe after the outbreak of the Ukraine conflict, the Indian statement said. The spokesperson said India's imports were meant to ensure affordable energy costs for Indian consumers and were a "necessity compelled by global market situation." The statement also noted the West's, particularly the European Union's, bilateral trade with Russia: "It is revealing that the very nations criticizing India are themselves indulging in trade with Russia." India also has been frustrated by Trump repeatedly taking credit for an India-Pakistan ceasefire that he announced on social media on May 10. The ceasefire halted days of hostilities between the nuclear-armed Asian neighbors. India's position has been that New Delhi and Islamabad must resolve their issues directly without outside involvement. Trump has reached a trade deal with Pakistan.
Reuters
3 hours ago
- Reuters
Mexico's headline inflation seen easing in July, core inflation still above target
MEXICO CITY, Aug 4 (Reuters) - Mexico's headline inflation likely slowed in July, although the core index likely remained above the official target, supporting expectations the central bank will slow its pace of interest rate cuts later this week, Reuters poll showed on Monday. The median estimate from 13 analysts forecast headline inflation of 3.53% in the 12 months through July, which if confirmed would be its lowest reading since December 2020. (MXCPIA=ECI), opens new tab For core inflation, considered a better parameter for measuring price trends because it eliminates highly volatile products, estimates indicate that it stood at 4.23%, slightly below June's 4.24% (MXCCPI=ECI), opens new tab but still above the Bank of Mexico's target of 3%, plus or minus a percentage point. The central bank last month lowered its benchmark rate by half a percentage point, although the decision by the five-member board of governors was not unanimous, after Deputy Governor Jonathan Heath voted to leave it unchanged. According to the minutes from July's meeting, all four officials who backed the cut — the fourth consecutive cut of that magnitude — said the board may adopt a more gradual approach in future decisions, as inflation shows signs of slowing and economic activity proceeds at a sluggish pace. Compared to the previous month, consumer prices are forecast to have risen by 0.28% (MXINFL=ECI), opens new tab in July, while for the core index an increase of 0.30% is expected (MXCPIX=ECI), opens new tab, according to the survey. The official data will be released on Thursday, a few hours before the central bank's rate decision. Another Reuters poll published on Friday showed that the market is widely discounting that the bank will announce a decrease of only 25 basis points in the cost of credit. The central bank has cut its benchmark rate by 325 bps since early 2024 as part of a monetary easing cycle that began after the rate reached a record high of 11.25%.
