US homebuilder confidence held steady in July, as growing demand for housing offset concerns about rising construction costs.

Treasury yields nudged higher on Tuesday after Federal Reserve chairman Jerome Powell reiterated the central bank’s commitment to raising interest rates

Netflix shares opened 13 per cent lower on Tuesday after the video streaming service missed its own estimates of user growth by 1m after the market close on Monday.

Jay Powell struck a confident tone about the strength of the US economy on Tuesday in testimony to the Senate banking committee and suggested the risks from Donald Trump’s trade wars could be balanced by US fiscal policy.

Wall street analysts are expecting chairman of the Federal Reserve Jerome Powell to reiterate the need for gradual interest rate increases when he speaks to Congress this morning, with policymakers weighing the potential risk stemming from trade disputes against the current strength of the US economy.

The pound abruptly dropped in early afternoon trading on reports that Theresa May could lose an important parliamentary vote on Brexit later on Tuesday.

US industrial production rebounded last month signalling further strength in the economy in the second quarter, driven by the manufacturing and mining sectors.

An Abu Dhabi investor has made a $55m bid for Abraaj’s fund management rights, seeking to outbid Cerberus Capital Management’s proposal for the embattled private equity group.

US stock futures tip Wall Street for a modestly lower open on Tuesday as investors digest a fresh slate of earnings and await Federal Reserve chair Jay Powell’s testimony.

Warren East, chief executive of Rolls-Royce, has voiced “frustration” at the uncertainty over the UK government’s proposals for quitting the European Union, as Prime Minister Theresa May accepted amendments to the hard fought compromise agreed earlier this month.

Jörg Schneider, chief financial officer of reinsurer Munich Re, is to step down after 17 years in the job.

Vitol, the world’s biggest independent oil trader, is preparing for the shift to a lower carbon world by sinking €200m into a new fund that will invest in European wind farms.

Johnson & Johnson, the world’s largest healthcare group, hailed a strong performance in its pharmaceuticals unit as it unveiled second-quarter earnings that were ahead of Wall Street expectations.

Fund managers have turned increasingly bearish, the July survey compiled by Bank of America Merrill Lynch showed, as expectations of improved profits have slumped and investors pull back on their allocation to equities in response to increasing worries about a trade war.

Theresa May’s Brexit wishlist is unravelling and the risk of an ugly exit from the EU is building. Not that you can tell from a look at sterling.

The London Metal Exchange has moved a step closer to launching the world’s first lithium futures contract, issuing a request for pricing providers, according to a document seen by the Financial Times.

Shares in UK beer and pub group Greene King fell 6 per cent on Tuesday morning after analysts at Berenberg branded the company a “value trap”.

The EU and Japan have reached an agreement that will allow for the free flow of personal data between the blocs, creating the world’s largest area for safe data transfers.

Car sales from Volkswagen grew by 7.1 per cent in the first half of the year, solidifying the 12-brand group as the world’s largest carmaker.

Wage growth in Britain continued to moderate in the spring, giving the Bank of England a tough decision on whether to raise interest rates in August.

TalkTalk shares jumped almost 10 per cent on Tuesday after the broadband company revealed it had added 80,000 customers in its first quarter and increased revenue in its core business by 4 per cent.

Shares in Casino were up as much as 3.75 per cent in early trade on Tuesday after the French supermarket reported that sales growth had accelerated in the second quarter and confirmed its guidance for the full year.

Royal Mail’s new boss Rico Back may be disappointed that prime minister Theresa May has ruled out a second referendum on Brexit under “any circumstances.” His addressed letter volumes, without the boost of political and election mailings, decreased by 6 per cent in the last quarter, reducing letter revenues by 7 per cent — the very bottom end of analyst estimates. 

Combined investment into renewable power generation and energy efficiency dropped last year and another fall is expected in 2018, the International Energy Agency said, threatening global climate policy goals and air pollution targets.