Oil futures held steady Wednesday with U.S. crude trading above $78 per barrel, after President Joe Biden said Iran might refrain from attacking Israel if a cease-fire deal is reached in Gaza. Biden told reporters Tuesday afternoon his “expectation” is Iran would not strike Israel if a deal is clinched to stop the fighting in … Read more
Japan’s Prime Minister Fumio Kishida speaks to reporters following North Korea’s missile launch on April 13, 2023. JIJI Press | AFP | Getty Images Japanese Prime Minister Fumio Kishida is stepping down in September, a move that sparked a broad range of reactions from government officials and analysts. By choosing to not run for reelection … Read more
Following cooler-than-expected producer price data Tuesday morning, the market’s 50/50 odds between a quarter-point Federal Reserve interest rate cut in September and a half-point cut tilted further toward the bigger move. That sparked a big rally in stocks, with the Nasdaq leading the way higher and jumping more than 2% in afternoon trading. Here are … Read more
Trade groups say Chinese electric vehicles pose an “existential threat” to the U.S. auto industry. China currently makes about one out of every three of the world’s new vehicles, and it has the capacity to make even more, according to research firm Dunne Insights. But faced with a growing preference for hybrids at home and … Read more
Zoom In IconArrows pointing outwards The direct-to-consumer health-care startup Ro launched a new free tool Tuesday to help patients determine whether their insurance covers a buzzy class of weight loss and diabetes drugs called GLP-1s. Most insurance plans cover GLP-1s when they are used to treat diabetes, so those patients can usually avoid the roughly … Read more
European stocks closed higher last Friday as investors digested economic data from the region including a preliminary U.K. second-quarter GDP reading, July inflation prints out of France, Spain and Italy, and euro zone industrial production for June. Camilla Cerea | Bloomberg via Getty Images LONDON — European stocks opened higher Tuesday, regaining some positive momentum after last … Read more
More than 300 people had died in violent protests in Bangladesh over jobs quota row. Washington: The United States has rejected the allegations of the government’s involvement in the Bangladesh crisis, including the protests in the country that led to the deaths of hundreds of people. Refuting all the reports and rumours, the White House … Read more
In the 1980s, Japan was the dominant player in the semiconductor market. But huge shifts in the way the chip supply chain operated eroded that leading-edge. Countries like Taiwan with TSMC, the world’s largest and most advanced semiconductor manufacturer, began to dominate in the production of chips. The U.S. is key in areas like design. … Read more
This handout photo provided by the US Navy shows the aircraft carrier USS Abraham Lincoln, left, in 2019. Zachary Pearson | U.S. Navy Handout | Getty Images The U.S. is sending more troops and military hardware to the Middle East as it seeks to increase the resources available to “defend Israel,” the Pentagon said in … Read more
The London skyline. Andrea Pucci | Moment Open | Getty Images LONDON — European stocks kicked off the new trading week higher, with U.S. and U.K. inflation data set to dominate focus this week. The pan-European Stoxx 600 index nudged 0.3% higher at Monday’s open as investors hunt for signs that last week’s market rout … Read more
