General Motors says strong demand continues for its pickups and SUVs.

Plus, why golds lost its shine with investors.

And the Trump administration is divided on how to respond to powerful new Chinese AI models.

These models that are being released now could be used to launch cyber attacks

or develop new pathogens.

Almost anyone can use it.

So that is really setting off alarm bells.

It's Tuesday, July 21st.

I'm Alex O'Sullough for the Wall Street Journal.

This is the PM edition of What's News,

the top headlines and business stories

that move the world today.

General Motors today reported better than expected earnings for its second quarter.

The car company also raised its outlook for the year.

Gas prices are high,

but the company says customers still want its pickup trucks and SUVs. Sales of these larger,

pricier models helped lift revenue up about 2% for the quarter, even as the automakers sold fewer total vehicles. Like other automakers, GM has turned away from EVs. After its latest quarter,

it spent almost $11 billion in restructuring charges since the second half of 2025.

Looking ahead, GM says it will focus more on investments in defense. Its GM defense unit will

have almost $700 million in revenue this year. GM's CEO, Mary Bar Barra says that unit will be a key driver of its future business.

We are also working with Lockheed Martin and other leading companies to expand speed, scale, and resilience in the defense industrial base.

GM stock closed up almost 5%. In markets, Brent crude futures rose 2% to settle at just over $91 a barrel.

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