Sanitation

Reuters Business

U.S. Bancorp posts record quarterly revenue on loan growth boost, BTIG buy

SpaceX selloff an ominous sign as lockup expiry looms

Meta Oversight Board finds top AI models less likely to criticize repressive regimes

Uber launches $15 billion bid for Delivery Hero to create global takeout giant

GE Aerospace lifts 2026 forecast as airlines keep up maintenance spending

Wall St futures mixed as chip weakness weighs

TSMC to invest another $100 billion in US as Q2 profit blows past forecasts

Wall St banks' Q2 saw deal fees, trading windfall boost profit

BMW appoints new HR chief as it moves ahead with cost-cutting drive

Lilly enters psychedelic drug race with up to $3.8 billion AtaiBeckley deal

Sponsors are not involved in the creation of newsletters or other Reuters news content. Advertise in this newsletter or on Reuters' website

Reuters Business is sent every weekday. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here.

Want to stop receiving this email? Unsubscribe here. To manage which newsletters you're signed up for, click here.

This email includes limited tracking for Reuters to understand whether you’ve engaged with its contents. For more information on how we process your personal information and your rights, please see our Privacy Statement.

Terms & Conditions

Daily Briefing

By Kate Turton

Hello. Iran warns the Strait of Hormuz is a "red line", SpaceX shares dip in an ominous sign, and protests break out in Ukraine over its ousted defense chief.

Plus, Americans are angry about data centers.

Today's Top News

A vessel in the Strait of Hormuz, as seen from Musandam,Oman, July 16, 2026. REUTERS/Stringer

War in Iran

Iran said that the Strait of Hormuz was an inviolable "red line", warning that if US President Donald Trump carried out his threat to attack Iran's infrastructure, it would strike all infrastructure across the Gulf region. Pentagon Correspondent Phil Stewart explains how far the US escalation might go on the Reuters World News podcast.
Recent waves of US strikes on Iran aimed at forcing open the Strait of Hormuz are also targeting Iranian military capabilities the US would want to destroy before executing more complex operations against ‌Iran, three US officials said.
US Vice President JD Vance said some members of the Israeli government had tried to influence US public opinion to oppose a deal by the US to end the war with Iran, in a podcast episode with host Joe Rogan.

In other news

Trump's attorney general nominee, Todd Blanche, faced tense bipartisan questioning at a US Senate panel about the rollout of the Epstein files and a settlement that gave the president sweeping tax immunity.
When ICE fatally shot a man at a traffic stop in Maine, it created a crisis for Republican US Senator Susan Collins, who finds herself at odds with her party as she's seeking reelection.
Toronto's air quality ranked the worst among major cities globally as wildfire smoke from northwestern Ontario blackened skies and spread into the northeastern United States, ‌prompting health warnings and calls for residents to limit outdoor activities.
Protests erupted in Ukraine over the dismissal of the reforming defense minister, Mykhailo Fedorov, as lawmakers prepared to vote on a new government at a ‌critical point in Kyiv's conflict with Moscow. Here's all you need to know about Fedorov.
An earthquake of magnitude ‌6.3 struck near the town of Te Anau in New Zealand's South Island, prompting the authorities ⁠to issue a tsunami warning.

Business & Markets

A drone view shows ships and containers at the Port of Santos, in Santos, Brazil, April 3, 2025. REUTERS/Amanda Perobelli

The US will impose a 25% tariff ‌on most imports from Brazil starting July 22, the US Trade Representative's office said on Wednesday, the first action under the Trump administration's new tariff strategy that could eventually affect dozens of countries.
The dip in SpaceX's shares below its blockbuster IPO price of $135 a share is an ominous sign ‌for Elon Musk's internet and rocket company as it faces more potential volatility in early August, when the number of shares available for trading on the Nasdaq stands to increase significantly.
As renewed conflict in the Gulf drives up oil prices, airline investors and industry executives see mounting signs that Europe's financially weaker carriers may be headed for a shakeout.
In China, amid both a bleak labor market and a protracted property slump, consumer loan defaults have soared to record highs, and analysts expect the situation to worsen as lower-income Chinese in particular sink deeper into debt.
Uber launched a public takeover offer for Delivery Hero that values the German food delivery company at $14.8 billion and ‌would create the world's largest food-delivery firm outside China.

Americans are angry about data centers. Politicians are feeling the pressure

A view of the "Saline Barn" Data Center under construction in Saline Township, Michigan. REUTERS/Rebecca Cook

From Michigan Avenue, Saline Township looks like any other farming community, with its corn and soybean fields, silos and grain elevators.

Just down the road, though, cranes reach above towering fences at the site of a $16 billion project — one that has turned this town of 2,400 people into the latest US flashpoint over AI data centers.

Dubbed "The Barn" by its consortium of developers — Oracle, OpenAI, Related Digital, Blackstone and Walbridge — the Stargate data center is expected to stretch over ‌250 acres.

Construction is moving ahead despite resistance from residents concerned about its impact on Saline’s water supply, its power grid and its rural character.

Read more

And Finally...

Kevin Akoto and Austin Franklin react during the England v Argentina FIFA World Cup Semi Final match in their World Cup Watcher Box located in Times Square. REUTERS/John Sibley

World Cup fanatics Kevin Akoto and Austin Franklin have lived the dream of any diehard football fan this year: watching every match from the ‌tournament from start to finish — and getting paid for it.

The "Chief World Cup Watchers" for US broadcaster Fox One will add a unique item to their resumes when the final whistle sounds in the final between Spain and Argentina, having watched all 104 matches from the quadrennial showpiece.