April’s hotter-than-expected inflation reading is likely to put the Fed on watch for higher energy costs creeping into other prices, a red line that, if crossed, could raise the possibility of interest rate hikes. The Consumer Price Index rose 3.8% in April, compared with expectations for a rise of 3.7%, and up from 3.3% in […]
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An oil supertanker that exited the Persian Gulf on Sunday hauling a cargo of Iraqi crude appears to have stopped shy of the US naval blockade line and is now turning back into the Gulf of Oman. The very large crude carrier Agios Fanourios I appears to be retracing its journey at a relatively slow […]
China’s central bank has warned on the risks of imported inflation from higher oil prices stemming from the war in Iran, offering no hint of preparing to ease policy as it looks to ensure that its interest rates reach the economy. “Recent geopolitical events in the Middle East have driven up prices of international crude […]
Nvidia (NVDA) is driving market gains through AI chip demand, but this growth masks broader economic weakness as consumers face squeezed budgets from elevated energy prices and tariffs. Exxon Mobil (XOM) and the energy sector face prolonged supply constraints, with Saudi Aramco‘s CEO warning normalization may not occur until 2027. The S&P 500 has hit […]
China’s producer prices blew past expectations to rise to a 45-month high in April, while consumer inflation also accelerated as global energy costs remained elevated, piling more pressure on manufacturers already grappling with weak demand at home. Analysts said cost-push factors, however, were unlikely to trigger policy moves as they lessen the urgency for looser […]
Anthropic PBC has signed a $1.8 billion computing deal with cloud services provider Akamai Technologies Inc. to meet surging demand for its artificial intelligence software, according to people familiar with the matter. Akamai said Thursday that it had struck a seven-year cloud computing deal with a “leading frontier model provider,” but did not name the […]
The International Monetary Fund said on Friday its board expects net income of about $2.5 billion in the 2026 financial year, following the annual review of its income position for the year ended April 30. “Projections of the Fund’s income position remain subject to high uncertainty, including from heightened geopolitical risks and financial market volatility,” […]
Cloudflare said on Thursday it would lay off about 20% of its workforce as part of a shift toward an “agentic AI-first operating model,” as the internet services company restructures around artificial intelligence. Shares of Cloudflare fell 14% in extended trading, despite posting stronger-than-expected quarterly results. The company is cutting more than 1,100 jobs, the […]
US stocks retreated from record highs on Thursday as investors watched for Iran’s response to a US peace proposal and combed through labor updates and fresh earnings reports. The Nasdaq Composite (^IXIC) slipped 0.1% while the S&P 500 (^GSPC) declined almost 0.4% on the heels of record-high closes for the tech-exposed benchmarks. The Dow Jones […]
Swiss-German firm Terra Quantum said on Thursday it had won a U.S. Air Force contract to supply software that simulates secure military communications in contested battlefield conditions, ahead of a Nasdaq listing valuing it at $3.25 billion. The quantum technology firm did not disclose the terms of the agreement with the world’s largest air force, […]
US stocks stalled before the bell on Thursday, holding near all-time highs as investors watched for Iran’s response to a US peace proposal and braced for a fresh flood of earnings reports. Contracts on the S&P 500 (ES=F) and the Nasdaq 100 (NQ=F) were little changed on the heels of record-high closes for the tech-exposed […]
