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Al-Ahram Weekly
6 minutes ago
- Business
- Al-Ahram Weekly
Stocks steady as traders weigh inflation data, trade deal - Markets & Companies
Major stock markets turned steadier Wednesday as traders weighed a spike to US inflation that pared bets on Federal Reserve interest-rate cuts. The US reading on Tuesday preceded official data on Wednesday, showing an unexpected rise in British inflation. "A higher-than-expected (June) inflation reading in the US... is one of the first data points to suggest tariffs are beginning to have some impact on prices," noted AJ Bell investment analyst Dan Coatsworth. "While this impact looks fairly modest for now, this reading comes before the more onerous levies on imports which are currently lined up for introduction at the beginning of August," he added. The dollar dipped against main rivals after President Donald Trump said a trade deal had been struck with Indonesia, which will see the US impose tariffs of 19 percent on its goods, below the 32 percent previously threatened. US shipments will not be taxed. The Indonesia deal meant Trump has struck tariffs agreements with three countries, with around two dozen in the pipeline ahead of the president's August 1 deadline. The EU's top trade negotiator, Maros Sefcovic, was jetting to Washington on Wednesday for talks with his US counterparts as the bloc renews its push to settle the transatlantic tariffs standoff. Some have suggested a healthy run-up on Wall Street over the past few weeks could be giving him confidence to keep the threats up. In Europe, shares in Renault tumbled nearly 17 percent Wednesday, a day after the French car giant lowered its annual financial outlook. Renault did not specifically mention tariffs, despite the global auto sector being targeted by Trump. Trump on Tuesday warned that he could begin imposing tariffs on imports of semiconductors and pharmaceuticals from August 1. While the Indonesia trade deal was welcomed, investor confidence was dented by data showing US inflation jumped to 2.7 percent last month. The figure "finally provided ample evidence that tariffs are being passed onto consumers", said Economists at Bank of America. The data saw the probability of a Fed rate cut in September slip to just a little higher than 50 percent. The dollar briefly rallied past 149 yen for the first time since April. Tech firms extended gains after US titan Nvidia said it would resume exports of key chips to China following Washington's pledge to remove licensing curbs. California-based Nvidia, one of the world's most valuable companies, said Tuesday it would restart sales of its H20 artificial intelligence semiconductors to China, having been stopped by Trump's tightened export licensing requirements in April. CEO Jensen Huang said they would be shipping "very soon". The news boosted tech firms around the world, with Wall Street's Nasdaq rising to another record high, while the S&P 500 and Dow fell on Tuesday. Key figures at around 1100 GMT London - FTSE 100: UP 0.2 percent at 8,953.93 points Paris - CAC 40: FLAT at 7,766.78 Frankfurt - DAX: UP 0.3 percent at 24,120.08 Tokyo - Nikkei 225: FLAT at 39,663.40 (close) Hong Kong - Hang Seng Index: DOWN 0.3 percent at 24,517.76 (close) Shanghai - Composite: FLAT at 3,503.78 (close) New York - Dow: DOWN 1.0 percent at 44,023.29 (close) Euro/dollar: UP at $1.1620 from $1.1606 on Tuesday Pound/dollar: UP at $1.3402 from $1.3383 Dollar/yen: DOWN at 148.71 yen from 148.85 yen Euro/pound: UP at 86.71 pence from 86.69 pence West Texas Intermediate: DOWN 0.6 percent at $66.71 per barrel Brent North Sea Crude: DOWN 0.5 percent at $68.76 per barrel Follow us on: Facebook Instagram Whatsapp Short link:
Yahoo
17 minutes ago
- Business
- Yahoo
UFP Packaging Launches First Tool-Free Crate System, Leading the Way on Safer Supply Chains
Reusable U-Loc 200 fasteners address one of the shipping industry's biggest safety challenges. GRAND RAPIDS, Mich., July 16, 2025--(BUSINESS WIRE)--UFP Packaging today unveiled the U-Loc 200, a new crate featuring the first tool-free fastener for assembly and disassembly. This patent-pending fastener eliminates the need for nail and staple guns, tools that contribute to an estimated 37,000 emergency room visits annually. The U-Loc 200 provides a safer and more efficient crating solution with a fully reusable design. "After decades without meaningful change, the U-Loc 200 marks the next major innovation in open-style crating—one that finally puts worker safety first," said Robert Bilbrough, Director of Product Development & Marketing. The U-Loc 200 reflects UFP Packaging's commitment to innovation—helping customers improve operational efficiency while enhancing workplace safety. The Smarter Alternative to Traditional Crating The U-Loc 200 fastener is made from flexible polyamide (nylon) and features a built-in "finger grip" for easy hand application and removal. Its reusable design, reinforced by anti-slip teeth and two additional hooks that connect all faces of the crate corner, provides the strength and stability needed to replace nails. By eliminating pneumatic and prying tools, U-Loc 200 safeguards employees and protects sensitive products while maintaining crate integrity. This solution is ideal for packaging high-value items, including medical equipment, technology, glass products, appliances and other delicate items. For more information about U-Loc 200, visit or email Robert Bilbrough at rbilbrough@ About UFP Packaging UFP Packaging is a leading North American provider of industrial packaging solutions and the largest producer of wooden pallets and crates in the United States. With expertise in metal fabrication, corrugated conversion and labeling, UFP Packaging offers a full range of packaging services, positioning itself as a comprehensive provider. Headquartered in Grand Rapids, Mich., UFP Packaging is a subsidiary of UFP Industries, Inc. (Nasdaq: UFPI). For more information, visit View source version on Contacts Zeb Sign in to access your portfolio
Miami Herald
23 minutes ago
- Business
- Miami Herald
Brenmiller Signs MoU with ENASCO to Pioneer Nuclear SMR-Integrated Thermal Energy Storage Solutions: Targeting $50 Million in Projects by 2030
Commercial roadmap includes: first joint bGen TES projected expected to launch in 2027, three projects worth $50 million by 2030, and develop a pipeline of 15-20 projects with a potential value of $650 million by 2035 Pilot integrations planned to power AI data centers SMR capacity could reach up to 120 GW by 2050, requiring more than $670 billion in global investment according to theInternational Energy Agency (IEA) ROSH HA'AYIN, IL / ACCESS Newswire / July 16, 2025 / Brenmiller Energy Ltd. (Nasdaq:BNRG), (the "Company", "Brenmiller" or "Brenmiller Energy") a leading global provider of Thermal Energy Storage ("TES") solutions for industrial and utility customers, announced today it has signed of a non-binding Memorandum of Understanding ("MoU") with ENASCO Ltd. ("ENASCO"), a specialist in nuclear Small Modular Reactor ("SMR") project development. The collaboration marks another step towards Brenmiller's expansion into the nuclear energy sector and aligns with the Company's recent announcement that it is developing a new version of its TES to be tailored for SMR and high-resilience industrial applications. Under the MoU, Brenmiller and ENASCO will collaborate to study, develop and commercialize integrated solutions combining Brenmiller's proprietary bGen™ TES system with advanced Liquid Metal Reactor ("LMR")-based SMRs. The initiative targets enhanced energy efficiency, operational safety, and system flexibility across electric, thermal, and hydrogen applications. "In cooperation together with ENASCO, we plan to leverage our complementary capabilities to explore creating a scalable, high-efficiency hybrid platform that answers the energy market's need for clean and dispatchable baseload power," said Doron Brenmiller, Chief Business Officer of Brenmiller Energy. "In the near term, we plan to target the AI data center market which, according to a McKinsey & Co. report, will account for almost 12% of total power demand in the U.S. by 2030." Commercial Roadmap and Market Potential According to the International Energy Agency (IEA), SMR capacity could reach up to 120 GW by 2050, requiring more than $670 billion in global investment. The MoU outlines a phased roadmap, including: 2026: Form strategic alliances with SMR vendors and pilot integration with AI data centers2027: Launch first joint hybrid SMR+TES project2030: Deploy three commercial-scale projects with a combined target value of $50 millionBy 2035: Build a pipeline of 15-20 hybrid projects across Europe and the Americas, with a potential value of up to $650 million Strategic Rationale: Enabling the Future of Nuclear-Thermal Hybrid Systems The bGen™ TES system is uniquely positioned to address core challenges in SMR deployment. When coupled with LMRs-known for their high operating temperatures (~500-550°C) and low-pressure designs-bGen™ offers: Enhanced Passive Safety: Acts as a passive heat sink during emergency shutdowns or grid outages, improving SMR safetyStreamlined Design: Eliminates the need for separate steam generators or redundant heat exchangers, reducing CapExGrid Flexibility: Supports load following, time-shifting, and ancillary market participationScalability: Supports a wide range of project sizes, from 10 MWh pilots to multi-GWh utility-scale systems About ENASCO Ltd. ENASCO Ltd. provides advanced engineering, feasibility analysis, and strategic consulting for SMR deployments across Europe. With an established track record in nuclear energy design, grant writing, consortium management, and policy advisory, ENASCO is a recognized contributor to the evolution of modular nuclear infrastructure. About bGen™ bGen™ ZERO is Brenmiller's TES system, which converts electricity into heat to power sustainable industrial processes at a price that is competitive with natural gas. The bGen™ ZERO charges by capturing low-cost electricity from renewables or the grid and stores it in crushed rocks. It then discharges steam, hot water, or hot air on demand according to customer requirements. The bGen™ ZERO also supports the development of utility-scale renewables by providing critical flexibility and grid-balancing capabilities. bGen™ ZERO was named among TIME's Best Inventions of 2023 in the Green Energy category and won Gold in the Energy Storage and Management category at the 2025 Edison Awards. About Brenmiller Energy Ltd. Brenmiller Energy helps energy-intensive industries and power producers end their reliance on fossil fuel boilers. Brenmiller's patented bGen™ ZERO thermal battery is a modular and scalable energy storage system that turns renewable electricity into zero-emission heat. It charges using low-cost renewable electricity and discharges a continuous supply of heat on demand and according to its customers' needs. The most experienced thermal battery developer on the market, Brenmiller operates the world's only gigafactory for thermal battery production and is trusted by leading multinational energy companies. For more information visit the Company's website at and follow the company on X and LinkedIn. Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company is using forward-looking statements when discussing: the terms of the MoU with ENASCO Ltd. and potential projects and pipeline as a result of the MoU; that the Company together with ENASCO plans to leverage complementary capabilities to explore creating a scalable, high-efficiency hybrid platform that answers the energy market's need for clean and dispatchable baseload power; that the Company plans to target the AI data center market which will account for almost 12% of total power demand in the U.S. by 2030; that SMR capacity could reach up to 120 GW by 2050 and require more than $670 billion in global investment; that the bGen TES system is uniquely positioned to address core challenges in SMR deployment; and the benefits of bGen when coupled with LMRs . The Company and ENASCO Ltd. may not ultimately reach agreement on definitive agreements and the transactions and projects contemplated by the MoU may not occur. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this press release. Factors that may affect the Company's results include, but are not limited to: the Company's planned level of revenues and capital expenditures; risks associated with the adequacy of existing cash resources; the demand for and market acceptance of our products; impact of competitive products and prices; product development, commercialization or technological difficulties; the success or failure of negotiations; trade, legal, social and economic risks; and political, economic and military instability in the Middle East, specifically in Israel. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's Annual Report on Form 20-F for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission ("SEC") on March 4, 2025, which is available on the SEC's website, The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Contact: investors@ SOURCE: Brenmiller Energy
Chicago Tribune
34 minutes ago
- Business
- Chicago Tribune
Wall Street quietly mixed as corporate earnings pour in, offering a respite from tariff anxiety
Early trading on Wall Street was quietly mixed on Wednesday as markets shift their attention toward a deluge of corporate earnings reports while monitoring ever-changing developments on U.S. trade policy. Futures for the S&P 500 were flat before the bell, while futures for the Dow industrials rose 0.2% Nasdaq futures were down 0.2%. Johnson & Johnson rose 1.8% after the drug and medical device giant beat analysts' sales and profit targets and raised its full-year outlook on both. J&J said it expects 'game-changing approvals and submissions' in the second half of 2025 on an array of products in its pipeline. Bank of America ticked up less than 1% after it beat Wall Street's second-quarter profit targets. The bank's net interest income grew for the fourth straight quarter, but came in slightly lower than expectations. Goldman Sachs also beat Wall Street's sales and profit targets on a strong performance from its trading division, which took advantage of market volatility triggered by President Donald Trump's on-again-off-again tariff announcements this spring. Its shares rose about 1% before markets opened. Netherlands-based ASML, the world's leading supplier of chipmaking gear, said in its latest earnings report Wednesday that the impact of Trump's tariffs on its business was less negative than anticipated, but its shares tumbled more than 7% after the company said it couldn't guarantee growth next year. The company makes equipment used in cutting edge semiconductors and one of its key customers is Taiwan Semiconductor Manufacturing Co., or TSMC, a major supplier for Nvidia. 'The level of uncertainty is increasing, mostly due to macroeconomic and geopolitical consideration. And that includes, of course, tariffs,' CEO Christophe Fouquet said. United Airlines posts its most recent quarterly results after the bell Wednesday. Also coming Wednesday is the government's report on producer prices, which measures inflation at the wholesale level. A report on Tuesday showed that consumer inflation in the United States accelerated to 2.7% last month from 2.4% in May. Economists said higher prices for clothes, toys and other imported goods suggest that Trump's stiffer tariffs are fueling inflation. That sticky inflation could mean that the Federal Reserve will hold its ground on interest rates, which have remained elevated in recent years after red-hot demand and supply chain breakdowns in the wake of the pandemic sent prices for just about everything skyrocketing. Wall Street loves lower interest rates because they juice prices higher for stocks and other investments, and Trump himself has been clamoring for the Federal Reserve to cut rates more quickly. But the Fed has been keeping interest rates on hold this year since lower rates can give inflation more fuel while they boost the economy. Fed Chair Jerome Powell has insisted he wants to see more data about how tariffs affect the economy and inflation. Elsewhere, in Europe at midday Germany's DAX rose 0.4%, while Britain's FTSE 100 gained 0.3%. The CAC 40 in Paris was unchanged. In Asian trading, Tokyo's Nikkei 225 edged less than 0.1% lower, to 39,663.40. Investors are focusing on the potential impact of an election for the Upper House of Parliament on Sunday that is expected to lead to tax cuts and higher spending as lawmakers try to restore the waning popularity of the ruling Liberal Democrats. Worries over a deterioration in Japan's fiscal health have pushed yields of long-term Japanese government bonds to their highest levels in years. 'What's at stake isn't simply which party hands out the biggest bundle of goodies. It's whether the walls holding up Japan's house of debt can withstand another round of fiscal fireworks…' Stephen Innes of SPI Asset Management said in a commentary. Elsewhere in Asia, Hong Kong's Hang Seng shed 0.3% to 24,517.76, while the Shanghai Composite index slipped less than 0.1% to 3,503.78. South Korea's Kospi lost 0.9% to 3,186.38 and in Australia, the S&P/ASX 200 declined 0.8% to 8,561.80. Taiwan's Taiex jumped 0.9% and India's Sensex added 0.2%. Thailand's SET dropped 0.3%. In Jakarta, shares rose 0.7% after President Donald Trump said on Truth Social that he plans to charge imports from Indonesia a tariff of 19%, while American goods sent to the Southeast Asian country will face no tariffs. Trump also said Indonesia committed to buying U.S. energy, agricultural products and aircraft. Indonesia's central bank cut its key interest rate by 0.25 percentage points on Wednesday, to 5.25%. 'We have calculated everything and discussed everything. The most important thing for me is my people, as I must protect the interests of our workers,' Indonesian President Prabowo Subianto told reporters, adding that 'this is our offer, and we are not able to give more (to the U.S.).' In energy trading, U.S. benchmark crude oil shed 79 cents to $65.73 per barrel. Brent crude, the international standard, slipped 67 cents at $68.04 per barrel. The dollar fell to 148.75 Japanese yen from 148.87 yen. The euro was steady at $1.1601.
Business Wire
34 minutes ago
- Business
- Business Wire
Reynolds Consumer Products to Report Second Quarter Financial Results on July 30, 2025
LAKE FOREST, Ill.--(BUSINESS WIRE)--Reynolds Consumer Products Inc. (Nasdaq: REYN) (the 'Company') announced it will report second quarter financial results on Wednesday, July 30, 2025. The Company's President and Chief Executive Officer, Scott Huckins, and Chief Financial Officer, Nathan Lowe, will host a live webcast to discuss the results at 7:00 a.m. CT (8:00 a.m. ET) that same day. A link to the webcast and all related earnings materials will be available at About Reynolds Consumer Products Inc. Reynolds Consumer Products is a leading provider of household essentials designed to simplify daily life, so consumers can enjoy what matters most. Found in 95% of U.S. homes, the Company offers trusted solutions for cooking, cleanup, food storage, and more. Its portfolio features iconic brands like Reynolds Wrap® aluminum foil and Hefty® trash bags and disposable tableware, along with store brand products tailored to retail partners. Reynolds holds the No. 1 or No. 2 market share in most of the categories it serves. Learn more at: REYN-F
