(Reuters) -Levi Strauss shares surged more than 7% in premarket trading on Friday after the denim maker raised its annual revenue and profit forecasts, counting on robust demand at its stores and website to offset a margin hit from U.S. tariffs.
The company has been investing in its direct-to-consumer-first strategy and focusing on its core denim lifestyle products, which drove second-quarter sales and profit beat.
Levi’s results beat was “impressive”, said Dana Telsey, analyst at Telsey Advisory Group. The raised forecast was also encouraging as it now includes an estimated impact from 30% tariffs on China and 10% duties on other countries, Telsey added.
The denim maker said it would counter President Donald Trump’s tariffs on imports into the U.S. by diversifying its supply chain to further reduce dependence on China and source from countries such as Bangladesh and Cambodia.
To be sure, the updated forecast does not account for Trump’s proposed 36% tariff rate on Cambodia and a 35% levy on U.S. imports from Bangladesh, which are set to go into effect on August 1.
About 60% of Levi’s revenue came from outside of the U.S., which grew 10% in the second quarter, led by Europe. Revenue from the U.S. grew 7%.
The company’s focus on denim dresses and skirts and growth in its women’s apparel and Beyond Yoga brand have led to increased purchases from younger customers, said J.P.Morgan analyst Matthew Boss in a note.
Levi’s stock trades at 14.92 times analysts’ estimates for the company’s earnings for the next 12 months, compared with 20.32 for Ralph Lauren and 8.46 for Abercrombie & Fitch, according to LSEG data.
(Reporting by Juveria Tabassum in Bengaluru; Editing by Leroy Leo)
Malaysia’s palm oil stocks jumped to their highest in 18 months in June, as an unexpected drop in exports outweighed the slump in production and a spike in domestic consumption, data from the industry regulator showed on Thursday.
The rise in inventories in the world’s second-biggest producer of tropical oil could weigh benchmark Malaysian futures FCPO1!, which were trading near their highest in nearly three months.
Palm oil inventories at the end of June rose 2.41% month-on-month, the fourth consecutive monthly increase, to 2.03 million metric tons, the highest since December 2023, data from the Malaysian Palm Oil Board (MPOB) showed.
Palm oil exports plunged 10.52% to 1.26 million tons, while crude palm oil production fell for the first time in four months in June, dropping 4.48% from May to 1.69 million tons, MPOB said. Domestic palm oil consumption last month jumped 44% from May to 455,150.
A Reuters survey had forecast June inventories at 1.99 million tons, with output seen at 1.7 million tons and exports at 1.45 million tons.
Malaysia’s palm oil stocks jumped to their highest level in 18 months in June, as an unexpected big drop in exports offset a reduction in local production and a surge in local consumption.
The MPOB report is slightly bearish for palm oil, as the market wasn’t expecting a big drop in exports, which lifted stock levels above 2 million tons, said Anilkumar Bagani, research head of Mumbai-based vegetable oil broker Sunvin Group.
A few cargoes loaded in June might actually get dispatched in July because of port congestion in India and as Malaysia has lowered the export duty for July shipments, said a New Delhi-based dealer with a global trade house.
Malaysia has lowered its July crude palm oil reference price, a change that brought down the export duty to 8.5% from 9.5% in June.
“We could see a jump in July exports due to the roll-over of cargoes from June. Besides, some exporters might advance August shipments to July because of the lower export duty,” the dealer said.
Malaysia’s palm oil exports in the first ten days of July rose 12% compared to the first ten days of June, independent inspection company AmSpec Agri Malaysia said on Thursday. Source: Reuters
The FCA has launched its Investment Advice Assessment Tool (“IAAT”), which sets the standards firms should apply when assessing the suitability of its advice, disclosures to consumers and compliance with Principle 12 and the Consumer Duty
Why should I read this?
The FCA has introduced the IAAT, an Excel-based framework designed to assist firms in evaluating the suitability of their advice[1], the adequacy of client disclosures, and compliance with Principle 12 and the Consumer Duty[2]. Firms can access the tool here IAAT and the instructions for use here instructions.
Although the FCA describes the tool as guidance, it incorporates the IAAT into its supervision of firms and potential enforcement. This implies that the IAAT represents the standards the FCA expects firms to meet when assessing the suitability of advice, the quality of disclosures provided to consumers, and compliance with obligations under Principle 12 and the Consumer Duty.
Firms that do not implement the IAAT into their practices or adhere to its standards may encounter challenges in justifying their advice in the event of a complaint or FCA investigation.
What should I do now?
Review and align with IAAT Standards: Firms should review the IAAT tool to strategically evaluate their advice and disclosures, ensuring they align with the required standards and satisfy Principle 12 and the Consumer Duty. If they do not, firms should amend their processes, systems, and controls to meet the outcome-focused standards.
Ensure full and complete information gathering: Firms must ensure that all relevant information is gathered and documented, forming the basis for the advice given. If there is a material information gap, firms should obtain this before providing advice. This is a consistent area where firms can let themselves down, particularly in on going relationships with clients where there is a failure to update changes in circumstances.
Embed IAAT into complaint handling and past business reviews practices: Firms should integrate the IAAT tool, or its standards, into their complaint handling and past business review processes. The FCA expects firms to use the IAAT tool to assess the suitability of advice and the extent of disclosures when considering complaints about past advice or conducting past business reviews. If failures are identified or documents are absent, firms should proactively consider offering redress where the advice is deemed to be unsuitable.
Anticipate FOS adoption of the principles of IAAT: Although not publicised, the Financial Ombudsman Service (“FOS”) may adopt this tool, or aspects of it, when considering investment advice based complaints in line with its obligation to take into account relevant regulators rules, guidance and standards. The FOS may also critically analyse whether the firms have completed the IAAT correctly, as the FOS has with some decisions relating to pensions and firms’ completion of the defined benefit advice assessment tool. Firms should evaluate whether they have satisfied the IAAT requirements in the context of ongoing and new FOS complaints and, if not, consider whether it can justify this to the FOS.
Prepare for CMC activity: We anticipate Claims Management Companies (“CMCs”) using aspects of the tool when considering complaints and claims on behalf of their clients, leveraging any gaps as a basis for a complaint or claim against a firm. If such complaints are received, firms should consider whether the claim is properly made out. While a gap in the IAAT could give rise to a regulatory failing, it does not always follow that this has caused loss or detriment or gives rise to a legal basis for a claim against the firm.
What else do I need to know about the FCA’s IAAT?
Firms can use the IAAT to assess the suitability of their investment advice and the adequacy of client disclosures for advice given after 3 January 2018, as well as compliance with the Consumer Duty from when it came into force on 1 August 2023.
The tool should not be used for the consideration of retirement income or defined benefit transfer advice, for which there are separate tools.
[1] For advice after 3 January 2018
[2] For advice after 31 July 2023 for products and services on sale or available for renewal on or after this date, and effective from 31 July 2024 for products and services that are no longer on sale or available for renewal on or after this date.
The materials on the Eversheds Sutherland website are for general information purposes only and do not constitute legal advice. While reasonable care is taken to ensure accuracy, the materials may not reflect the most current legal developments. Eversheds Sutherland disclaims liability for actions taken based on the materials. Always consult a qualified lawyer for specific legal matters. To view the full disclaimer, see our Terms and Conditions or Disclaimer section in the footer.
CHEYENNE, Wyo. — The developer of what would be the first new coal mine in Wyoming in decades plans to process the fossil fuel to extract hard-to-get metals that are crucial for tech products and military hardware.
Energy Secretary Chris Wright, former West Virginia U.S. Sen. Joe Manchin, Wyoming Gov. Mark Gordon, and Wyoming’s congressional delegation are on the VIP list for a groundbreaking ceremony Friday at the Ramaco Resources, Inc., Brook Mine outside Ranchester in far northern Wyoming.
Rare earth elements are a family of 17 metallic elements with unusual properties that make them useful for specific applications. Neodymium and dysprosium are used in the permanent magnets of wind turbines, lanthanum in electric and hybrid car batteries.
Yttrium and terbium have critical military uses, including in targeting devices.
China supplies almost 90% of the world’s rare earths. Concern about continued access to the substances has been a focus of recent negotiations between China and the U.S., and led the Trump administration to try to encourage more production domestically.
Rare earths aren’t especially rare but so scattered they are difficult to bring together in useful quantities. Currently the only U.S. rare earths mine is at Mountain Pass in California.
Analysis by U.S. national laboratories show the Brook Mine coal contains valuable quantities of the rare earths neodymium, praseodymium, dysprosium and terbium, as well as the critical minerals gallium, scandium and germanium, according to a Ramaco letter to shareholders on July 1.
“We would intend to mine it here in Wyoming, process it here in Wyoming and sell it to domestic customers including the government,” Ramaco CEO Randall Atkins said Thursday.
Manchin, who left office in January after not seeking re-election, joined the Ramaco board in April.
No new Wyoming coal mine has opened in 50 years. Wyoming’s coal industry instead has shrunk substantially since its peak over a decade ago, troubled as utilities switch to renewable energy and power plants fueled by cheaper natural gas.
The Brook Mine, stalled in part by landowners worried about groundwater depletion, has been in the works for over a decade. Atkins originally envisioned it as a source of subbituminous power plant fuel, much like Wyoming’s massive open-pit mines that supply about 40% of the nation’s coal.
A public company with metallurgical coal mines in Appalachia, Ramaco in recent years received Department of Energy grants to develop coal into carbon-based products such as carbon fiber. This year, it got a $6.1 million grant from Wyoming to build a rare earth and critical minerals processing plant.
A consultant report released this week found that fully developing the mine and processing plant would cost around $500 million, a sum that could be recovered in five years if the rare earths can be extracted and sold. Ramaco also would sell the processed coal as fuel, Atkins said.
LAHORE – Meezan Bank has introduced an affordable and flexible solar panel financing plan aimed at salaried individuals, providing an opportunity to switch to renewable energy with ease.
With a total quotation of Rs500,000 for a 5kw solar system, the plan allows customers to pay through a structured 5-year installment schedule after a Rs. 175,000 down payment.
The initiative is part of Meezan Bank’s broader strategy to promote green energy solutions across Pakistan while ensuring financial convenience for middle-income households.
The installment plan spreads the remaining cost over 60 months, making solar energy more accessible for working individuals.
Solar System Installment Plan
As per the tentative installment plan, the monthly payments begin in August 2025, starting from Rs 9,223, and gradually reduce each month as the tenure progresses. The final installment, scheduled for July 2030, is just Rs5,478.
This declining installment model helps customers manage their cash flow better, especially as energy cost savings from solar usage begin to accumulate over time.
Meezan Bank’s solar financing scheme is aligned with the State Bank of Pakistan’s green banking initiatives and serves as a practical solution to rising electricity costs.
The quotation given in the story is tentative. You can visit the official website of the bank to get further details.
Bitcoin ETFs saw second-highest inflows on record Thursday
Bitcoin recorded another all-time high and pierced $118,000 in Friday trading, boosting its return in 2025 so far to 26%, roughly matching the performance of gold.
The latest inflection point upward started in earnest on Wednesday when it (BTCUSD) broke through the previous peak of $111,000 established in May, bringing on board another wave of momentum investors, those who typically back trends rather than fundamentals.
Thursday occasioned the second-highest daily inflows into bitcoin exchange-traded funds with $1.18 billion drawn in by the chart breakout. Cumulative net inflows into bitcoin ETFs in 2025 are estimated at $51 billion. CoinDesk reported a huge short-squeeze contributing to the velocity of the spike in trading with $1.01 billion of short seller positions being liquidated within 24 hours across various crypto exchanges.
Approximately 237,000 traders were caught on the wrong side of the sudden move higher, and one single short exposure on the HTX crypto trading platform took an $88 million hit in the process, CoinDesk said.
While bitcoin has been in an uptrend since the start of 2023, the rally became turbocharged by President Trump’s victory in the 2024 election. He had made a manifesto promise on his campaign to establish a regulatory framework to encourage the adoption of digital assets and blockchain technology in general, and signed an executive order to that effect upon taking office in January this year.
Furthermore, in June, the Senate passed the Genius Act, a bill to regulate some cryptocurrencies, which also provided crypto-trading sentiment with additional impetus. As well as the regulatory initiatives, Trump has proposed government creating a strategic reserve for cryptocurrencies, naming five – bitcoin, Ethereum UK:ETHP , solano ,SOLZ ripple TOSRF and cardano TWOCF – he would include.
The growing acceptance of bitcoin’s strategic role in global finance has been vindicated by institutional take-up. In January 2024, under the previous administration, the SEC finally approved bitcoin ETFs with the first funds launched immediately thereafter. Funds like BlackRock and Fidelity have launched bitcoin ETFs CL:IBITCL FBTC, lending it credibility as an asset class.
It’s not just institutional investors who have embraced bitcoin’s appeal; corporates globally have been buying it too, and recent data releases reveals about 130 listed companies own 3.2% of all bitcoins in issue.The most well-known is Michael Saylor’s Strategy (MSTR), which holds almost 600,000 bitcoins with an average price of approximately $66,000.
Wall Street analysts are now regularly including bitcoin in their strategy notes and portfolio recommendations. Citi’s macro strategy outlook for the second half of 2025 published Friday, for example, highlights bitcoin tailwinds while discussing its wider role in portfolios as part of a diversification blueprint. The team led by Dirk Willer emphasizes how bitcoin’s diversification properties differ from gold , belying its frequent label of “digital gold”.
Citi points out that bitcoin has a different rate sensitivities and “trades more like a physical commodity in the sense that it has excelled during an overheating economy when yields are rising, but also can handle higher term premium environments”.
Read: This big-name adviser says avoiding crypto is now a more speculative investment move than buying it
-Jules Rimmer
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
As holiday season kicks into gear, a casual glance at gen Z social media might suggest this generation is adopting an expensive lifestyle filled with fine dining and travel. But behind those Phuket photos lies a meticulous spreadsheet.
Rather than aggressively stockpiling for retirement, gen Z is embracing a “soft saving” approach, according to research: prioritizing memorable experiences now while saving extra cash for the future.
A significant number of gen Zers are frequent travelers, averaging three leisure trips a year, according to Morning Consult, despite 60% earning less than $50,000 annually.
How are they fitting travel into their budget? The answer appears to be an unusually focused attitude to how they spend money.
“I don’t want to miss out on opportunities when I am young, but I also don’t want to go into debt,” said Sofia Qistina, 22, who stressed that she prefers to spend more on experience than material items. “Being financially aware is the best thing possible, because then you’re able to see where you can stretch your budget and where you can’t.”
Sofia Qistina in Bali. Photograph: Qistina Photos
More than other generations, a majority of gen Z splurges intentionally, according to a recent McKinsey report. Many young consumers open dedicated travel or experience funds alongside their retirement savings, and use on loyalty programs such as credit card points to lower trip expenses.
“When I was 20 and younger, I would spend exorbitantly on many luxury things just ’cause I thought they were cool and I was always on a high. But I lost a lot of opportunities and comfort,” said Qistina, who is now studying abroad and working as a freelance social media marketer in Sydney, Australia. “I realized that way of living was toxic and not sustainable. So now, everything is overly calculated and I am very intentional with how I spend my money.”
Andy Reed, a financial behavior expert at Vanguard, said when people spend on experiences, they typically derive more pleasure than when they spend on things. “But it’s also true that gen Zers are also saving more than their predecessors,” he added, noting that “baggage” including a higher cost of living, the Covid-19 recession and student debt has helped shape their financial habits and anxieties.
Sofia Qistina in St Moritz, Switzerland, this past January. Photograph: Qistina Photos
Qistina, for example, attends parties, eats her way through Sydney, and travels with friends to cities such as Dubai and Paris. She splits her income between a high-yield savings account and a “wants” fund for traveling and social engagements.
Booking her travel is no mean feat: before buying tickets, she said she compares thousands of flights, airlines, locations and dates to ensure she is getting the best value for money.
A new generation of tourists is now prioritizing the value of a trip ahead of its financial cost, according to Heather Leisman, president of EF Ultimate Break, a travel agency for 18-to-35-year-olds. “Gen Z looks at value,” she said. “For them it’s not a price tag.
“Affordability is a concern of theirs, but it’s also how they budget. We are seeing people booking shorter trips than before and they’re deal-seeking, meaning they are traveling in off-peak seasons or to more affordable places like Thailand or Portugal.”
Qistina said: “We don’t realize that the day-to-day things that we do – like always eating out or that coffee from an overpriced cafe – adds up, and that’s why we think we’re not able to do all those big things like traveling.”
Kevin Droniak, 28, does not eat at Michelin-starred restaurants or grab a $7 matcha. He lives in a cramped New York apartment, fitted with just the essentials. He saves both for retirement, and has been doing do since he was 20, but also a day trip to Egypt.
“It’s very fulfilling to land somewhere and experience it, get a taste of it, and then go back home immediately,” he said after a one-night visit to Colombia. “It’s ticking off bucket list items, and it’s a memory I’ll have forever.”
Some of Droniak’s day-trip locations include Iceland, Italy, France and the UK. The trips can range from about $200 to nearly $1,000. He began this “addiction” to balance his responsibilities, such as helping his 95-year-old grandmother, while seeing the world.
“Everyone works so hard and you don’t get that much time off, which can prevent you from being able to travel. But you really don’t need a week off to experience something new,” he said.
Droniak budgets these trips to be less than $1,000, meaning flights should be about $500 and the location should have cheap transport options, like subways or inexpensive taxis. He eats at a “basic local restaurant” to keep the food bill in check.
Kevin Droniak. Photograph: Lauren Nieves
“I fly back-of-the-plane economy and when I am there I always look for free activities, like going to the beach or hiking,” Droniak said. “It’s good to be financially aware and at the same time I also want to live life while I am young, which means spending money for these trips.”
He deems travel to be a need, rather than a want. “Traveling is my therapy, and I see it as an investment on my mental health,” he said. “These trips get me out of routines that can put me down in the dumps and being in somewhere new gives my brain a serotonin boost.”
But many gen Zers are balancing this serotonin boost with a secure future, too. They are making “some very good financial choices”, said Reed.
Droniak saves at least $20,000 a year for retirement, and Qistina makes sure to put away a significant sum every quarter. Both opened retirement accounts due to financial anxieties and pressure from older family members, who advise them to prepare for the future.
“Gen Zers, in particular, plan to spend rather than spontaneous spending,” Reed said. “As long as you cover the bases like rent and food, you can splurge, which can lead to a lot of experiences with emotional value.”
Qistina sees financial success as financial freedom: the luxury of not living paycheck to paycheck, and having the means to fulfill her whims on a dime. “If I’m able to say, I’m going to Paris in three days because I kind of want a croissant, not comparing flights, and just having that flexibility – that is financial success,” she said. “I truly believe I will get there, too, because I’m pacing myself.”
Brian Krzanich, chief executive officer of Intel Corp., right, shows the collision avoidance feature of an AscTec Firefly drone with Intel RealSense cameras during the 2015 Consumer Electronics Show (CES) in Las Vegas, Nevada.
Patrick T. Fallon | Bloomberg | Getty Images
Intel is spinning out its artificial intelligence robotics and biometric venture as more companies bet big on automation tools.
The new company, known as RealSense, was announced Friday and comes alongside a $50-million Series A funding round that includes MediaTek Innovation Fund and Intel Capital, the chipmaker’s venture arm that it is also spinning out.
RealSense, which makes the tools and technology for robotics automation, said it plans to use the funding to develop new product lines and meet growing demand worldwide. Nadav Orbach, Intel’s current vice president and general manager for incubation and disruptive innovation, will serve as CEO.
“The timing is now for physical AI,” as the technology gains more use cases and traction, Orbach told CNBC in an interview. “We want to develop new product lines. We see the demand and we see the need, and with where it’s at right now, the right thing for us was to raise external funds.”
Companies across the globe have ramped up investment in the burgeoning robotics space as AI use cases expand.
Morgan Stanley expects the market for humanoid robots to hit $5 trillion by 2050 as tech companies, including Tesla and Amazon, bet big on the technology and automation.
Elsewhere, Nvidia CEO Jensen Huang called robotics the biggest opportunity for the chipmaker after AI, and Salesforce CEO Marc Benioff last month claimed AI is handling 30% to 50% of the software vendor’s work.
Intel has undergone a series of cost-cutting plans after the worst year for its stock in decades.
The company axed CEO Pat Gelsinger and cut jobs last year as it struggled to keep up with AI competition. In April, the company said it would sell a majority of its stake in chip subsidiary Altera.
RealSense, formerly known as Intel Perceptual Computing, was created more than a decade ago to investigate 3D vision technology and launched its first product in 2015. The company employs about 130 people across the U.S., Israel and China and caters to autonomous robot manufacturers such as Eyesynth and Unitree Robotics.
Orbach said RealSense is focused on bringing more safety tools to the industry and easy-to-use technology for its customers. Intel will maintain a minority stake in the company.
