• Volkswagen is set to invest $5 billion in Rivian to establish a joint venture dedicated to the next generation of electric vehicles. Rivian saw its stock soar post-trade, jumping 40% in pre-market trading to $16.85.
  • Zurich Insurance has acquired American International Group's travel business for $600 million.
  • Pirelli has issued €600 million in bonds tied to environmental commitments.
  • Bayer's CEO, Bill Anderson, expresses confidence in the company's ongoing reorganization.
  • Aston Martin is scheduled to begin deliveries of the Alonso-inspired Valiant racing car in the fourth quarter.
  • Drax has sold 90,000 Opus customer metering points to EDF Energy Customers.
  • Avolta has won a concession at Macao airport.
  • FedEx shares surged 14% following the announcement of a major share buyback and expectations that profits for fiscal year 2025 will surpass analysts' forecasts. The company attributes this to cost-cutting and consolidation of operations, despite weak demand for parcel deliveries. Shares were up 13.3% in pre-market trading.
  • DoorDash was reported by Reuters to have engaged in takeover talks with the UK's Deliveroo, but the discussions have reportedly stalled.
  • Nvidia experienced a rebound, yet short sellers reportedly made $5 billion during the stock's three-session decline, according to Ortex data. Nvidia advanced 2% in premarket trading on Wednesday after a nearly 7% gain on Tuesday.
  • Exxon Mobil may have to halt production at its Gravenchon refinery in northern France if strikers continue to block site access.
  • Nasdaq has terminated its agreement with the European Energy Exchange.
  • AO World's earnings have surpassed forecasts.
  • Motorola and Google AI have entered into a generative AI partnership. Google is also set to present AI-related innovations and new Pixel phones at a surprise event on August 13, according to The Verge.
  • Vista Outdoor has received U.S. government commission approval for the sale of its sports unit to CSG.
  • KKR has acquired a $2.1 billion portfolio of residential real estate assets from Quarterra.
  • Verizon has been fined $1 million for a 911 call failure in 2022.
  • The controlling shareholder of India's Vedanta has sold a 2.6% stake in the company.
  • The liquidation hearing for Chinese developer Shimao has been postponed to July 31.
  • Tencent's "Dungeon & Fighter" tops China's mobile download charts.
  • CSPC Pharma's mRNA-based cancer therapy has been approved for clinical trials in China.
  • Petrochina has been fined $14.5 million for U.S. export violations.
  • Apple's stock gains around 1% in pre-market trading after Rosenblatt changed its rating from "neutral" to "buy" and increased its price target from $196 to $260.
  • Whirlpool's shares are up 10.3% in pre-market trading following reports that Bosch is considering a takeover bid, which would bolster its position in the household appliance market.
  • General Mills' stock is down 3.9% in pre-market trading as the company predicts lower-than-expected annual earnings, with consumers opting for less expensive alternatives to its products.
  • Boeing faces a new airworthiness directive from the FAA for 13 Boeing 757-200 aircraft, following reports of structural cracks that could lead to in-flight depressurization.
  • Southwest Airlines' shares fell by 8.8% in pre-market trading as the company adjusted its second-quarter revenue per available seat mile forecast to a decline of 4% to 4.5%.
  • Blackstone has acquired British hotel operator Village Hotels, managing 33 mid-range hotels, in an undisclosed transaction.
  • Albemarle, the leading lithium producer, plans to hold more lithium auctions to improve market transparency. Its share price increased by 2.7% in pre-market trading.
  • Norfolk Southern has been accused by the NTSB chairwoman of fabricating evidence and failing to provide documents during the investigation of a 2023 derailment in Ohio. The company agreed last month to pay a civil fine and millions in future costs in a government lawsuit.