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North America
CNBC Finance

'Spider-Man: Brand New Day' beats out 'Avengers: Endgame' for highest domestic opening ever

Sony and Marvel's "Spider-Man: Brand New Day" webbed up more than $360 million during its opening weekend in the U.S. and Canada, breaking the record for the highest-grossing debut of all time. The previous record was $357 million, set by "Avengers: Endgame" in 2019. Globally, the latest Spider-Man installment tallied $932 million, shy of the $1.2 billion record still held by "Endgame." The Tom Holland-led "Brand New Day" kicked off with record-shattering Thursday preview sales and snared $169.3 million on Friday, including presales, and $101.5 million on Saturday. Sony had initially projected an $84 million Sunday, but moviegoers flocked to theaters, driving ticket sales to $88.7 million for the day. The film's opening weekend also marked the biggest opening weekend in Sony Pictures history and the biggest debut for the Spider-Man franchise. The feat comes even as "Brand New Day" was boxed out of Imax screens, which were snapped up for Christopher Nolan's and Universal's "The Odyssey." Rival premium large formats thrived, however, as Dolby Cinema, ScreenX and 4DX all reported record-breaking ticket sales over the weekend. "Brand New Day" is on pace to be the fourth billion-dollar film of 2026, joining Pixar's "Toy Story 5," Lionsgate's "Michael" and Universal and Illumination's "The Super Mario Galaxy Movie." Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

'Spider-Man: Brand New Day' beats out 'Avengers: Endgame' for highest domestic opening ever
Europe
BBC Business

How a 90-second power outage sparked chaos for rail commuters

Image source, Getty ImagesByKaty AustinTransport correspondentPublished7 August 2026The power failure which hit a Network Rail operations centre in Manchester was a rare incident. But after commuters were left facing chaos, it has raised questions about how a short outage at one operating centre could have a widespread impact. Network Rail will face scrutiny for how its systems coped and responded to the outage. That's the publicly-owned body whose job it is to operate and maintain Britain's railway infrastructure. That means the tracks, signals, embankments and major stations. It was at Network Rail's operating centre in Manchester that the problem started. Its operating centres are where crucial controls are housed that let trains run safely across the country, with Manchester's centre responsible for large parts of the North West. It was hit by a power cut in the area, which was resolved within 90 seconds. Given the centre's importance, backups are in place. But questions have been raised about how they responded. Chris Wright, north-west route director at Network Rail, told the BBC "we didn't experience a 90-second interruption," insisting its systems were back online sooner. But he said some of Network Rail's communications systems "did not respond how we would have expected, and then needed reconfiguring and replacing". "We've got to work really hard very quickly now to understand why that's the case," he added. Because signalling was affected - think of that essentially as the traffic lights of the railway - trains had to stop. Systems had to be rebooted. But there was some damage to those that control signalling, which took time to fix because of the need to replace certain parts. Thinking about how busy parts of the rail network are, and how many trains and crews were left out of position across the North West of England and beyond, helps explain why the impact was so big.

How a 90-second power outage sparked chaos for rail commuters
North America
CNBC Economy

As Warsh’s Fed faces pressure to act on inflation, these indicators show it’s at its lowest in years

Pricing data from June indicated that outside of some select items where costs continue to grow, inflation is trending back towards the Federal Reserve's inflation goal. So-called trimmed mean measures, which exclude outliers in both price increases and decreases, showed inflation at its lowest since the early part of the decade. The Dallas Fed's measure, in fact, puts the one-month annualized rate for June at just 1.4%, down a whopping 1.3 percentage points from May and at its lowest level since November 2020. Further, the 12-month rate, which Fed policymakers watch more closely, dipped to 2.2%, down 0.2 percentage point from a month ago to a bottom not seen since July 2021. While Fed officials are quick to stress that they don't focus on one month of any data point, the trend in the trimmed mean could get some attention, particularly in light of Chairman Kevin Warsh's intention to reexamine how the central bank views inflation and what data points it employs. Trimmed mean data "should also now fall closer to target-consistent rates," Citigroup economist Andrew Hollenhorst said in a note. "The fact that underlying inflation is still slowing toward target – as indicated by a broad set of indicators – is now even more relevant given Chair Warsh's suggestion that he would analyze inflationary pressure by looking across a broad range of metrics," he added. "We expect markets to price-out rate hikes in coming months on inflation data, and price-in cuts if the unemployment rate rises as we project." The trimmed mean inflation measures essentially act like a teacher grading a test on a curve: In the case of the Dallas measure, it tosses out 24% of the lower-end price readings and 31% at the high end to come up with a better midpoint of where inflation is absent outliers. The measure specifically uses the personal consumption expenditures price index — the Fed's primary inflation forecasting tool — results of which were released Thursday. The Commerce Department said the all-items index fell 0.1% for the month, largely on a sharp decline in fuel costs, while the core level that excludes food and energy gained 0.1%. On an annual basis, the two gauges rose a respective 3.7% and 3.3%. Similarly, the Cleveland Fed has a "16% trimmed mean" that includes price changes below the 92nd percentile and above the 8th percentile. That measure, though, uses the consumer price index as its benchmark. For June, the trimmed CPI was at 2.63%, which, on an unrounded basis, was the lowest since May 2021. While such measures could get more prominent placement on the Fed's dashboard under Warsh, there are a number of caveats. For one, Lorie Logan, who as Dallas Fed president oversees its trimmed mean measure, has cautioned about reading too much into it because of compositional factors at play.

As Warsh’s Fed faces pressure to act on inflation, these indicators show it’s at its lowest in years
Europe
BBC Business

Goodwin considers selling part of defence business

British engineering company Goodwin has said it is considering selling off parts of its business, which supplies components to major defence and nuclear programmes. The Stoke-on-Trent-based group said it was exploring a possible sale of a "substantial part" of its mechanical engineering division, which includes Goodwin Steel Castings (GSC), Goodwin International (GI), Noreva, Easat and Pumps. In a statement on Friday, the firm's board confirmed it had commenced a strategic review to "consider a range of potential options to maximise value for shareholders". Goodwin said discussions were ongoing and that there was no certainty of a sale taking place. "The board of Goodwin confirms that it has commenced a strategic review to consider a range of potential options to maximise value for shareholders whilst ensuring continuity for all stakeholders, including customers, and the long-term prosperity of its businesses," the company said. "Discussions are ongoing and there can be no certainty that a transaction will be entered into. Rothschild & Co is advising the board of Goodwin on the strategic review." Goodwin's mechanical engineering division is a key supplier of components to UK and US frigate and submarine programmes. This includes Britain's Dreadnought programme, which is building the Royal Navy's next-generation nuclear deterrent submarines, and the Type 26 frigate programme, which is developing a fleet of advanced anti-submarine warships. According to its latest annual report, Goodwin Steel Castings and Goodwin International have delivered a boost to the company's profits, having benefited from economies increasing their defence spending. A report in the Financial Times said several potential buyers that have records in defence had expressed interest in Goodwin in recent weeks. The company, which was founded in 1883, is majority owned and managed by the Goodwin family, while it has shares listed on the London Stock Exchange. Russ Mould, investment director for AJ Bell, said: "The company is a major supplier to UK and US submarine programmes and has also benefited from bumper defence spending across other parts of its business.

Goodwin considers selling part of defence business
Asia-Pacific
The Straits Times

DBS, OCBC shares climb to fresh highs on strong Q2 earnings; yen rally stalls: Markets this week

In this column, ST’s business correspondents unpack the latest developments in Singapore and global markets during the week – and explain what they mean for investors. DBS and OCBC raised their 2026 financial targets, while UOB kept its guidance largely unchanged. SINGAPORE – DBS and OCBC shares surged to record highs this week after the Singapore banks posted strong second-quarter results fuelled by their booming wealth management businesses, while UOB’s stock struggled to keep pace. OCBC shares crossed the $30 mark for the first time and closed 3.94 per cent higher at $30.30 on Aug 7. DBS Bank closed 3.07 per cent higher at a fresh peak of $76.33. UOB, however, ended down 0.23 per cent at $43.30. DBS will pay shareholders 81 cents a share, comprising a 66-cent ordinary dividend and a 15-cent capital return dividend, after net profit rose 9 per cent to $3.08 billion in the quarter on record wealth-management income. OCBC will pay a 47-cent dividend after its second-quarter profit jumped 22 per cent to $2.22 billion, while UOB will return 88 cents a share to shareholders as profit rose 10 per cent to $1.48 billion. Macquarie Capital head of ASEAN equity research Jayden Vantarakis noted that the bank’s 8-basis-point quarter-on-quarter net interest margin decline was the largest among the three banks. UOB’s new non-performing assets, or loans that turned problematic, hit $902 million in the second quarter, up 90 per cent year on year due to one real-estate account in Greater China. UOB noted that adequate provisions have been pre-emptively set aside to buffer against this exposure. DBS and OCBC raised their 2026 financial targets, while UOB kept its guidance largely unchanged, except that it now expects low single-digit fee income growth, down from its previous forecast of high single-digit fee income growth. The Japanese yen struggled to hold on to its recent sharp gains from a joint US-Japan currency intervention. The yen was around 157.80 per US dollar on Aug 7 after strengthening to 155.20 per US dollar on Aug 3, but remains stronger than a multi-decade low of about 164. The yen weakened against the Singapore dollar over the week, with one Singapore dollar buying about 123.44 yen on Aug 7.

DBS, OCBC shares climb to fresh highs on strong Q2 earnings; yen rally stalls: Markets this week
Europe
BBC Business

US states sue to block Trump tariffs impacting dozens of countries

Image source, AFP via Getty ImagesByOsmond ChiaBusiness reporterPublished4 August 2026, 03:00 BSTUpdated 1 hour agoTwenty five US states sued the administration of US President Donald Trump on Monday over new tariffs of 10% to 12.5% on goods from 60 trading partners. The tariffs came into effect in July, targeting countries including the UK and China as well as the European Union, over Washington's contention that they have failed to properly tackle forced labour. In a legal document seen by the BBC, the coalition of Democratic states said the decision was "arbitrary, capricious, and contrary to law." In response, White House spokesman Kush Desai said: "The US is using its lawful authority" to address practices that burden American businesses. Desai added that any foreign country's failing to deal with the importation of goods produced with forced labour was "unreasonable" and must be addressed. The new tariffs were imposed on major trading partners like Japan, Brazil and Taiwan under Section 301 of the 1974 US Trade Act, legislation which is designed to target nations that use forced labour. The lawsuit said the Trump administration "cannot use forced labour as a pretext to continue its illegal tariff scheme." "The tariffs the USTR imposed are so broad that they defy the USTR's own stated aims and make a mockery of the statute used to justify them," it said. "President Trump's illegal tariffs are nothing more than a tax on hardworking families," said New York Governor Kathy Hochul. "Despite losing every step of the way, Trump is trying yet again to inflict more chaos on working families and homegrown Oregon businesses," Oregon Attorney General Dan Rayfield said in a statement. "We're all paying the price for these unlawful tariffs, not foreign governments," he added. Several of the affected trading partners have expressed disappointment over the new tariffs, with Brazil and Japan's governments separately calling the measures "unjustified".

US states sue to block Trump tariffs impacting dozens of countries
Asia-Pacific
The Straits Times

US economy unexpectedly sheds 23,000 jobs in July; unemployment rate eases to 4.1%

Employment was little changed in the construction and manufacturing sectors in July. WASHINGTON – The US economy unexpectedly shed jobs in July and non-farm payrolls for the prior month were revised sharply lower, potentially raising questions about whether the Federal Reserve will increase interest rates in September. While the US Labour Department’s closely watched employment report on Aug 7 showed the unemployment rate falling to 4.1 per cent in July from 4.2 per cent in June, that was because another 264,000 people left the labour force, pushing the participation rate to a near 5½-year low of 61.4 per cent. “The labour market appears to have slammed the brakes on new hiring,” said Christopher Rupkey, chief US economist at FwdBonds. “It isn’t lights out yet for the economic outlook, but the future is dim if pessimism leads to more dropouts and companies cannot get the help they need to produce the goods and services the economy needs to grow.” Non-farm payrolls decreased by 23,000 jobs in July after a downwardly revised 20,000 increase in June, the Labour Department’s Bureau of Labour Statistics (BLS) said in its closely watched employment report on Aug 7. Economists polled by Reuters had forecast payrolls rising 80,000 after advancing by a previously reported 57,000 in June. Estimates ranged from as low as 10,000 to as high as 140,000 jobs added. The economy added 103,000 fewer jobs in May and June than previously estimated. Big downgrades to the two months led to President Donald Trump’s firing of BLS commissioner Erika McEntarfer. Financial markets priced in a 43.9 per cent chance of the US central bank hiking rates in September, compared with 57 per cent before the jobs report, according to LSEG data. The Fed last week left its benchmark overnight interest rate in the 3.5 per cent to 3.75 per cent range. Three members of the Fed’s policy-setting committee dissented, preferring a quarter-percentage-point hike. Next week’s inflation data could sharpen the debate on the near-term monetary policy outlook. US Treasury yields fell after the data, while the dollar slipped against a basket of currencies. Payrolls in July were weighed down by a 50,000 decline in local government education employment. The retail trade sector lost 19,000 jobs, the bulk of them at warehouse clubs, superstores and other general merchandise stores. Employment in financial activities fell further, shedding 14,000 jobs. Financial activities jobs are down by 121,000 since peaking in May 2025.

US economy unexpectedly sheds 23,000 jobs in July; unemployment rate eases to 4.1%
Asia
The Hindu BusinessLine

State GCC policies target 1.18 mn jobs, over 1,300 centres by 2029-31: CBRE

India’s state-level policies for Global Capability Centres (GCCs) are targeting around 1.18 million new jobs and nearly 1,380 GCCs by 2029-31, with the next phase of growth likely to extend beyond established hubs into tier-II and tier-III cities, according to a CBRE report. The report said the growing policy push is increasingly being matched by demand for office space, with GCCs having leased more than 123 million square feet across India’s top nine cities between 2022 and H1 2026. “The speed at which state governments have moved to formalise dedicated GCC policies is unprecedented in India’s commercial real estate landscape,” said Anshuman Magazine, Chairman & CEO - India, South-East Asia, West Asia & Africa, CBRE. While Bengaluru, Hyderabad, Chennai, Delhi-NCR and Pune continue to account for a large share of GCC activity, CBRE said geographic diversification will be critical to the sector’s long-term expansion. Emerging cities are increasingly being considered for hub-and-spoke models, supported by lower costs, engineering talent and policy incentives. The report noted that around 94 per cent of India’s 2.36 million GCC professionals are concentrated across six tier-I cities, leaving emerging locations with significant room to attract new centres. It said central and state policies, infrastructure development and streamlined regulatory processes could support this shift. The changing nature of GCC operations could also reshape the type of office space demanded in the coming years. CBRE said large-format transactions of more than 100,000 square feet now underpin GCC leasing activity, while average deal sizes have increased by 18-20 per cent since 2023, pointing towards larger and more integrated operating footprints. More than half of GCC expansions during 2022-H1 2026 were witnessed in high-growth sectors, while technology, banking, financial services and insurance (BFSI), and engineering and manufacturing accounted for 23 per cent, 22 per cent and 16 per cent, respectively, of GCC leasing. CBRE further said India’s GCC ecosystem is also moving beyond traditional support functions, with centres taking greater ownership of research and development, artificial intelligence, data, cybersecurity and product development. Over half of India’s GCCs have matured into portfolio and transformation hubs, while about 90 per cent operate as multi-functional units. Going ahead, the report said the focus would need to shift from simply offering incentives to faster execution, better infrastructure, large-format office assets and stronger talent pipelines, particularly in emerging cities. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

State GCC policies target 1.18 mn jobs, over 1,300 centres by 2029-31: CBRE
Asia
The Hindu BusinessLine

E20 Fuel, mileage loss & engine concerns: What car owners must know | Energonomics Podcast | 22

Is E20 fuel really damaging car engines, or is social media amplifying isolated concerns? In this episode of Energenomics, host Richa Mishra speaks with Federation of Automobile Dealers Associations (FADA) CEO Saharsh Damani to separate fact from fear. From workshop data and E20-related complaints to fuel efficiency, legacy vehicles, EV adoption, and the future of ethanol blending in India, this conversation explores what’s really driving India’s shift away from petrol and toward alternative fuels. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

E20 Fuel, mileage loss & engine concerns: What car owners must know | Energonomics Podcast | 22