Netflix misses Q3 earnings targets amid Brazil tax dispute
Netflix (NFLX) missed Wall Street third-quarter earnings targets due to an unexpected expense from a dispute with Brazilian tax authorities, though it...
Eurozone bond yields jumped as U.S. President Donald Trump imposed tariffs on exports from multiple countries, adding pressure on inflation and reshaping expectations for central bank policy.
Trump's new tariffs, though less severe than initially expected, took effect on Friday, targeting exports from Canada, Brazil, India, and Taiwan. The move reinforced concerns about inflation staying elevated, especially in the euro zone.
The rise in yields came amid a broader sell-off in global long-term debt, as markets adjusted to the view that interest rates are likely to stay higher for longer.
German 30-year bond yields rose four basis points in early trading to 3.22%, in line with gains in U.S. Treasuries. Italy's 30-year yields climbed nearly 7 bps to 4.464%, and France's advanced 4 bps to 4.177%.
Analysts said bond markets were reacting to the reduced likelihood of major rate cuts. "The long-end in Bunds continues to lack clear direction despite abundant data points, as larger surprises remain absend. The front-end on the other hand weakened, as the figures add conviction to the ECB's base case scenario, leaving curves flatter as markets are increasingly pricing a terminal rate closer to 2%," Commerzbank analysts said.
Additional data released Friday included final euro zone manufacturing figures for July and the closely watched U.S. monthly jobs report, both seen as key inputs for future monetary policy decisions.
Shorter-term debt was less affected: Germany's two-year Schatz yield ticked up just 1bp to 1.956%, slightly below last week's four-month high.
Traders have been pulling back expectations of another rate cut by the European Central Bank this year. The broader market consensus is beginning to shift toward the next potential move being a hike, likely in 2026.
The 10-year German Bund yield, a benchmark for the region, rose 3.2bps to 2.724%, capping a third straight monthly gain and its biggest jump since March's 34-bp surge.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
Snapchat will start charging users who store more than 5GB of photos and videos in its Memories feature, prompting backlash from long-time users.
President Donald Trump rejected a request from leading Democratic lawmakers to meet until the three-week-old U.S. government shutdown is brought to an end on Tuesday.
A Colombian court has overturned former President Álvaro Uribe’s convictions for fraud and bribery, halting a years-long legal saga that had made him the country’s first ex-leader to face criminal sentencing.
A Jan. 6 rioter who was pardoned by President Donald Trump has been charged with making terroristic threats after allegedly sending text messages that threatened to kill House Democratic Leader Hakeem Jeffries, according to a felony complaint filed in New York state court.
Netflix (NFLX) missed Wall Street third-quarter earnings targets due to an unexpected expense from a dispute with Brazilian tax authorities, though it offered a slightly stronger-than-expected forecast for the rest of the year.
Uzbekistan and Saudi Arabia have strengthened their strategic economic partnership with new projects in the capital’s development plan, including the construction of the ‘Riyadh Quarter’ in New Tashkent and the launch of a new international airport.
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