Britain's BP on Tuesday posted stronger-than-expected second-quarter profit, following a period of heightened volatility for global oil and gas prices. The struggling energy major reported underlying replacement cost profit, used as a proxy for net profit, of $2.35 billion for the three months through June. That beat analyst expectations of $1.81 billion, according to an LSEG-compiled consensus. BP's net profit came in at $2.76 billion over the second quarter of last year and $1.38 billion in the first three months of 2025.
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Saudi Aramco on Tuesday posted a drop in second-quarter revenues, citing lower crude oil and refined chemical products prices that were only partially offset by higher traded volumes. The world's largest oil company declared an adjusted net income of 92.04 billion Saudi riyal ($24.5 billion) over the three months to the end of June. The result compares with a forecast of adjusted net income of $23.7 billion, according to an analyst survey estimate supplied by the company. Second-quarter revenues dropped to 378.83 billion Saudi riyals from 425.71 billion Saudi riyal in the same period of the previous year.
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The United States is launching a pilot program that could require some inbound travelers to pay bonds of up to $15,000 to enter. The 12-month program is aimed, in part, at visitors from countries with historically high visa overstay rates, according to an unpublished temporary final rule posted in the Federal Register on Tuesday. It's the latest move by the Trump administration to tighten immigration laws in the U.S., following a travel ban on nationals from 12 countries in June and a $250 "visa integrity fee" announcement in July.
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India said it was is being "targeted" by the U.S. and the European Union over its imports of Russian oil after U.S. President Donald Trump in an overnight social media post threatened New Delhi with much steeper tariffs. India began importing oil from Russia only after traditional supplies were diverted to Europe following the outbreak of the Russia-Ukraine war in 2022, the country's foreign ministry said in a statement late Monday. The ministry called out the EU and the U.S. saying, "it is revealing that the very nations criticizing India are themselves indulging in trade with Russia. Unlike our case, such trade is not even a vital national compulsion [for them]."
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CNBC's Jim Cramer reviewed Monday's market action and told investors that stocks' rebound from last week was lead by positive news from the Magnificent Seven Tech stocks — Microsoft, Meta, Amazon, Apple, Alphabet, Nvidia and Tesla. "Now, some of that may be because…the Fed has to cut, maybe even before September — I mean, that's how weak the employment numbers are," he said. "But at the heart of the market's resilience is, well…the Magnificent Seven." The indexes closed in the red on Friday as investors worried about a much weaker-than-expected labor report and President Donald Trump's modification of "reciprocal" tariffs on a number of countries. But stocks reversed course on Monday, and the Dow Jones Industrial Average jumped 1.34%, the S&P 500 added 1.47% and the Nasdaq Composite surged 1.95%. Click here to download?Jim Cramer's Guide to Investing?at no cost to help you build long-term wealth and invest smarter.
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What makes someone successful in business? According to entrepreneur and author Alli Webb, authenticity is key. “I think authenticity is really where it’s at in life and certainly in business,” she told CNBC at the Create & Cultivate Festival for women in business.
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Shares of Hims & Hers Health fell 9% in extended trading on Monday after the telehealth company reported second-quarter results that missed Wall Street's expectations for revenue. Here's how the company did based on average analysts' estimates compiled by LSEG: Revenue at Hims & Hers increased 73% in the second quarter from $315.6 million during the same period last year, according to?a release. Hims & Hers reported a net income of $42.5 million, or 17 cents per share, compared to $13.3 million, or 6 cents per share, during the same period a year earlier.