Finance news

US Senate joins House in voting to halt Iran war

It marks the first time both chambers approved directing a president to remove armed forces from hostilities since the War Powers Act was adopted in 1973.

ASML EUV in China? The rumour is ridiculed but it reveals a tougher reality on the ground

For anyone closely watching the semiconductor industry, the recent saga around ASML’s denial of possible EUV (extreme ultraviolet) lithography shipments to China, in an apparent response to US concern, may sound almost absurd at first. The machine at the centre of the discussion is not a laptop-sized piece of equipment that can be easily packed into a shipping carton. ASML’s EUV lithography systems weigh about 180 tonnes, contain a vast number of precision components, are shipped to customers in

China’s medical AI breaks ground as surgical robot wins EU approval, model tops benchmark

Medical AI from China has reached new milestones, with a teleoperated surgical robot gaining access to the European Union market and a clinical-grade model topping a major healthcare benchmark developed by OpenAI. Shanghai MicroPort MedBot said its Toumai Remote robot, which allowed surgeons to remotely conduct laparoscopic surgeries, had received the “CE mark” from the European Union, a mandatory requirement to enter the market, according to its Hong Kong stock exchange filing on Monday. The...

Why FedEx is down after a strong quarter — and its impact on our stock rating

We knew this report would be transitional, even messy, given the separation of FedEx Freight.

Kim says North Korea to arm navy with nuclear weapons, build bigger warships

North Korean leader Kim Jong-un said his country was “equipping the Navy with nuclear weapons,” state media reported Wednesday, as he also unveiled plans to build 10,000-ton (9,000-tonne) warships. The remarks came at the commissioning of the Choe Hyon – one of two 5,000-ton (4,500-tonne) class warships the nuclear-armed state launched last year – in the port city of Nampo on Tuesday, the official Korean Central News Agency reported. “The programme of equipping the Navy with nuclear weapons is..

Trump Admin Takes Aim at Oil, Gas Drilling Costs

The U.S. federal government will reduce costs for oil and gas drillers by slashing red tape for the industry, aiming to tempt drillers to expand on federal lands. In a news release this week, the Interior Department said it would revise the Bureau of Land Management’s rule for federal land leasing for oil and gas drilling as well as the BLM’s waste prevention rule, by essentially loosening both to reduce the cost burden on energy companies. Under the revised rules, the cleanup cost of an abandon

US Anthropic ban is best advert for Chinese AI

Bankers working for JPMorgan Chase and Goldman Sachs in Hong Kong must have been miffed when they were shut off from using artificial intelligence (AI) models from Anthropic, a pioneering American firm in the field. Goldman Sachs and JPMorgan Chase pulled the plug in April and last week respectively, based on a strict interpretation of Anthropic’s terms of use, which reflect Washington’s stringent restrictions on China’s access to frontier American AI models. The banks’ decisions are seen as a..

CFTC sues Kentucky over actions against prediction markets, making it first red state to face federal scrutiny

The commission has now sued nine states in total in its battle to defend what it sees as its exclusive right to regulate event contracts.

US stocks slide, as Wall Street gets AI wake-up call

Wall Street got a reality check as a bruising sell-off in several technology giants fuelled concern the artificial intelligence frenzy that has powered the equity bull market might be overblown. The tech rout engulfed global stocks as worries about frothy valuations ignited a fresh bout of volatility after a nearly three-month surge in riskier assets. The S&P fell 1.4 per cent. The benchmark index is coming off 11 weekly gains out of the last 12, led largely by technology stocks. The Dow Jones..

FedEx posts strong earnings results in last quarter with freight business

FedEx posted strong fiscal fourth quarter earnings on Tuesday in the company's last quarter that included the freight business before its spin-off.

Rastafarian man can’t sue prison guards who shaved him bald, US Supreme Court says

The US Supreme Court refused on Tuesday to let a Rastafarian man sue state prison officials in Louisiana after guards held him down and shaved him bald in violation of his religious beliefs in a case brought under a federal law protecting incarcerated people from religious discrimination. The Supreme Court, in a 6-3 ruling powered by its conservative majority, upheld a lower court’s decision to dismiss Damon Landor’s lawsuit, agreeing that he could not sue the individual prison officials and...

Stock investors expect the Fed to save them. But no ‘Warsh put’ is coming.

Wall Street’s belief in a central bank safety net misreads the dot-com crash. Alan Greenspan was following rules — not saving portfolios.

Tanker Owners Are Having the Best Week of the Hormuz Crisis

The Strait of Hormuz may be reopening, but don't tell tanker owners the crisis is over. They're making too much money. As Middle Eastern producers scramble to move crude that has spent months stranded in the Persian Gulf, tanker rates have exploded higher, turning a slow return to normal into a windfall for shipping companies. According to Reuters, the cost of hiring a tanker in the Gulf has nearly doubled in just a week, jumping from around $106,000 per day to more than $190,000 per day. For so

El Niño, War, and Fertilizer Costs Create a Dangerous Inflation Cocktail

Rory Green, TS Lombard's chief China economist, is the latest Wall Street strategist to warn of the mounting macro and food inflation risks that a super El Niño could release on certain regions of the world. In a note titled "Super El Niño: Famine Follows War?" Green warns that war-related disruptions to energy and fertilizer markets, compounded by adverse weather conditions, could create a perfect storm for global food prices. Green said, "In general, El Niño raises temperatures and significant

Inside Kevin Warsh's selection process for the next Atlanta Fed president

Choosing a new head for the Federal Reserve Bank of Atlanta is an opportunity for new Fed Chairman Kevin Warsh to reshape the central bank.

When is the AI Bubble gonna burst? (Give your opinion)

I'm really worried now about this situation in the financial markets. Most global risk assets have already corrected, Central Banks are getting Hawkish due to inflation caused by the Closing of the Strait of Hormuz, Trump keeps pumping and dumping the Market with his phony tweets, gold had a big run in recent months and Swiss Banks are receiving record deposits of people looking to protect their money. Everybody knows AI stocks forward P/Es are inflated and unrealistic. Is this the beggining of

Sons, brothers and husbands. More men are now caregivers for aging relatives.

Guys are stepping up to care for their parents and spouses as the nation gets older. They face unique struggles.

Boris Vujčić: Outlook for the euro area economy and monetary policy

Sabine Mauderer: “Germany has a chance to catch up with a smart energy strategy”

The Vice President of the German Bundesbank is calling for more speed in the energy transition. Otherwise, dependence on fossil fuels would become a location risk for Germany and Europe.

Economy: Nagel: Pension package and ceasefire positive for the economy

There are two bright spots for the German economy: the pension reform at home is gaining momentum, and there is hope for peace in the Iran war. However, the Bundesbank President warns against too much euphoria.

Commodity market: Deutsche Bank cuts gold forecast sharply

At the beginning of the year, the price of gold set a record of $5,595. Now the fear of rising interest rates is weighing on the prospects for the precious metal.

[Spain] Is worth the revolut 3.51% TAE interest-bearing account

The other day, I saw that Revolut is having a that promotion on their interest-bearing account, up until 25.000€ and until October (After that it would go down to a 2.27% TAE). I have a mortgage with an interest rate that is below the 2.5% and the interest-bearing account on Openbank is giving me a 1.50% (TIN, although I doubt there's difference with the TAE here, but that's why I'm asking here, lol). My emergency fund is less than 25k, my actual liquidity is slightly over that number, and I hav

Five-digit sums: Expensive: Many Germans give away returns on checking accounts

More than 10,000 euros in your checking account? This is a reality for one in eight adults - despite the lack of interest and inflation. How savers can better develop the potential of their assets.

Eurozone downturn slows as US-Iran tensions cool

Improvement in business activity comes amid 'encouraging' easing of inflationary pressures

Uzbekistan Woos More Western Gas Investors

Uzbekistan is stepping up efforts to bring major European and U.S. energy companies into its natural gas sector, after last month securing investment from BP.

Monetary policy: ECB chief economist expects inflation to remain high

In mid-June, the ECB raised its key interest rate for the first time in almost three years. Chief economist Philip Lane expects inflation to continue.

AI groups spend $20 million going head-to-head in New York race pitting Bores, Lasher, Schlossberg

Companies are spending big to shape AI policies at the federal level. And the Manhattan House Democratic primary will be a test of where voters stand.

China and Philippines have a rare naval stand-off near disputed Scarborough Shoal

Four Chinese warships reportedly confronted a Philippine Navy vessel near the disputed Scarborough Shoal in a rare stand-off on Saturday, the same day Manila wrapped up a joint drill with the US and its allies. The confrontation coincided with the end of Salaknib 2026, a nearly three-month joint military exercise involving more than 7,000 troops from the Philippines, the United States, Japan, New Zealand and Australia. Beijing has not commented on the incident. According to a report by 24 Oras..

This billionaire trading tycoon argues the public is looking at federal debt all wrong

The conventional wisdom is that federal government debt — $39.1 trillion, or a mere $31.6 trillion when accounting for the liabilities owed to itself — is astronomically high. Jeff Yass said that isn’t the right comparison.

Apollo curbs withdrawals after exit requests hit 17%, reigniting fears over private credit liquidity

Apollo is capping investor redemptions in its main retail-focused private credit fund after exit requests hit 17%.