Finance news

Kalshi traders see slim odds U.S. government will take a stake in OpenAI this year

Traders on the prediction markets platform see a less than 30% likelihood the federal government will take a stake in AI companies Anthropic and OpenAI.

FCC denies US firm with Chinese links approval to provide telecoms services

The US Federal Communications Commission ⁠said on Tuesday it is adding California-based Digitalsystem Technology to a list of companies posing risks to US national security, citing links to Chinese telecoms firms and its ownership by a Chinese national. The FCC also said ‌it was denying the Los Angeles-based IT company permission to provide international telecommunications services, saying it could be exploited by Chinese threat actors. “There is significant risk that the government of China and

Fed President Stays Optimistic as Energy Prices Fall

Federal Reserve Bank of New York President John Williams said he expects falling energy prices to drive a drop in overall inflation over the next few months.

Trump's Nuclear Loan Program Won't Fix What's Really Broken

Donald Trump is trying to push forward a nuclear power renaissance in the United States as the AI boom presents the country with a major looming energy deficit. The federal government recently announced over $17 billion in federal loans as part of a scheme to encourage investment in revitalizing the nation’s ageing nuclear fleet. The move comes as part of a broader desire on the part of the Trump administration to “produce lasting American dominance in the global nuclear energy market.” However,

Oil Jumps on Hormuz Shipping Attacks

The US revoked a waiver allowing Iranian oil sales following shipping attacks that threatened the fragile ceasefire with Iran.

To everyone who thinks right now is the worst possible time to invest

2008: "We're heading into a Great Depression." If you kept buying, the S&P returned 400%+ over the next 13 years. 2011: "The US credit rating just got downgraded for the first time in history." Market was up 30%+ within two years. 2015: "China is crashing and taking everything down with it." S&P hit net highs within months. 2016: "Brexit will destroy global markets." Then few months later: "Trump winning tank everything." Markets hit all-time highs after both. 2020: "COVID is going to end the ec

Federal Reserve Board requests comment on a proposal to amend its requirements for banks to maintain anti-money laundering programs

Federal Reserve Board requests comment on a proposal to amend its requirements for banks to maintain anti-money laundering programs

Wednesday’s Fed minutes will be revealing — but not in the way investors hope

Minutes of the Fed’s June meeting will give more insight on how new Fed Chair Kevin Warsh intends to run the central bank.

Cardinal in Morocco steps back from duties after sexual assault claims

At least five women have accused the archbishop of Rabat of sexual assault, according to an Agence France-Presse investigation, prompting the Spanish-born cleric to announce he was “stepping back” on Tuesday while the Vatican holds an inquiry. Agence France-Presse interviewed a retired woman involved in the Church and reviewed the written testimony of another woman who said Cristobal Lopez Romero had sexually assaulted them. The 74-year-old archbishop denied all wrongdoing when contacted by...

Bond traders are watching this tracker to figure out the real odds of Fed rate hikes

A Fed gauge of wage growth is due to be updated on Friday, followed by a June reading on consumer inflation next Tuesday.

Saudi Arabia Eyes Major Red Sea Pipeline Expansion to Bypass Hormuz

Saudi Arabia is looking beyond the Strait of Hormuz. The kingdom is considering expanding the capacity of its East-West crude pipeline by as much as 2 million barrels per day, according to Reuters. It’s a move that would allow more Saudi—and potentially neighboring Gulf—oil to reach global markets without passing through the world's most strategically vulnerable chokepoint. The discussions are still preliminary. After five months of war, tanker disruptions, and Iranian threats to commercial ship

Geopolitical Risk Returns as Drone Strikes Hit Hormuz Shipping

Drone strikes in the Strait of Hormuz lifted oil prices as geopolitical risks resurfaced, even as weak physical crude markets continue to weigh on sentiment. Saudi Arabia Slashes Its Way Back Into Asia - Saudi national oil company Saudi Aramco (TADAWUL:2222) has slashed its official selling prices for Asian-bound cargoes in August by a whopping $11 per barrel, almost double the expected cut. - Marking the first time since 2020 that Saudi barrels in Asia trade at discounts to regional benchmarks,

Chinese ballistic missile test is said to undermine nuclear weapons-free zone in South Pacific

China has repeatedly called out the AUKUS nuclear submarine deal between Australia, the U.S. and the U.K. as violating the treaty.

Can Index Futures be manipulated to prop up the broader stock market?

I've been thinking about this for a few days. I'm looking for insight from redditors who might know. Google Ai's answer was the following: Yes, it is theoretically and mechanically possible to use index futures to prop up the broader US stock market and this idea has long been discussed in the context of potential government or institutional market intervention. Because index futures are highly leveraged and closely linked to the underlying stock index, they are a generally more efficient tool t

Tax reform: This is how much social contributions are eating up the planned tax relief

Calculations show: The coalition does not even compensate for inflation-related tax increases. In addition, higher social contributions are eating up the relief. What taxpayers are left with at the bottom line.

The club has €150,000 in free reserves. How to invest safely, without risk?

Hello, we are a small non-profit youth work organization and finance ourselves through grants. There is currently around €150,000 in the account, currently as daily money at the savings bank at 0.4%. With inflation we lose real money. These are free reserves, not earmarked funds. The money can stay there for a while, but it shouldn't be locked away for decades. If in doubt, we want to get to it. What it's not about: returns or big profits. We want

India to supply Indonesia with long-range missiles

India will supply Indonesia with long-range missiles, an Indian official said on Tuesday as their leaders agreed to deepen ties in defence, critical minerals and other areas. President Prabowo Subianto is hosting Indian Prime Minister Narendra Modi in Jakarta during a three-day state visit, with a deal on the BrahMos missile system topping the agenda. An agreement for “cooperation on BrahMos system” was struck during the visit, Indian foreign ministry spokesman Randhir Jaiswal said in a post on.

India Resumes Iraqi Oil Imports Despite Hormuz Shipping Risks

Indian state refiners are back to buying Iraqi crude that would have to transit the Strait of Hormuz, in a sign that the world’s third-largest crude oil importer seeks to bring supply from the Middle East after the tentative reopening of the chokepoint. State-owned Mangalore Refinery and Petrochemicals Limited (MRPL), which operates a 300,000-barrels-per-day refinery in southern India, has chartered a tanker to load crude from Iraq, sources from the shipping industry told Reuters on Tuesday. Thi

Lars Feld: Let’s prepare for higher interest rates for longer-term federal bonds

In total, Federal Finance Minister Lars Klingbeil will take out around 840 billion euros in additional loans from 2026 to 2030. This is a remarkable dynamic. A guest post.

Thai beer heir opens up, Philippine ube’s ‘purple gold rush’: 7 Asia highlights

We have selected seven stories from the SCMP’s coverage of Asia over the past week that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. US touts regional ‘balance’ in missile sale to Singapore. What does it mean? Washington has recently approved a proposed US$22.3 million sale of additional Hellfire missiles to Singapore, with the US State Department declaring that the transfer and associated arms...

Tanker set ablaze after hit by projectile in Strait of Hormuz region

An “unknown projectile” struck and caused a fire on an oil tanker off the coast of Oman near the Strait of Hormuz on Monday, British maritime security agency UKMTO said. The incident occurred near one of the world’s most important energy shipping routes, despite a ceasefire between the United States and Iran and ongoing efforts to secure a lasting peace agreement. The United Kingdom Maritime Trade Operations (UKMTO) said the incident took place about 8 nautical miles (15km) east of Limah,...

Parents have concerns about Scalable Capital

Hi, all of my money (99%) is in Scalable Capital's overnight money for the 2.5% interest. Also a small savings plan on the FTSE all World. I am a student and have small expenses of less than €50 per month, which I get paid in pocket money in cash. If I need something larger, I'll get it from Scalable within 24 hours. I also have ETFs from them in my portfolio that I transferred via portfolio transfer. But they serve as a long-term investment for 20 years + you

Philip R. Lane: AI and monetary policy

The Colorado River Crisis Is Reaching a Breaking Point

Depending on whom you talk to, the Colorado River serves either 35 million or 40 million people, all of whom are having to reconsider how much water they use and how they use it in the wake of an ongoing megadrought that arrived at the beginning of this century. The changes are no longer in the "let's-discuss-this" phase as the federal government threatens to impose up to a 40 percent cut in river water allocations over the next 10 years if the seven western states—Colorado, New Mexico, Wyoming,

Work with daily allowance

I have my first job after training, good salary and good conditions. I've soon saved up an emergency fund of €6,500, which is supposed to increase by €100 a year at the savings bank, which is in the current account for an unbeatable... 0.4% (!). Which is really sobering. On the one hand, I would like to have my nest egg quickly available for emergencies, but I would also like to let it work for me as money lying around. Now TR, Scalable and others have higher interest rates on the daily money

Russia’s Oil Windfall Vanishes as Urals Crashes to $42 a Barrel

Russian crude oil prices have fallen back to where they were before the Middle East war, with its flagship Urals averaging just $41.66 a barrel during the first three days of July. The drop wipes out the revenue boost Moscow received from the conflict and pressures a federal budget that assumes oil prices of about $59 a barrel. Urals had averaged more than $59 a barrel every month since March and climbed to $60.92 in June after the U.S. and Iran reached an agreement to restore shipping through t

UK's $667 Billion Net-Zero Bill Could Make Britain Uncompetitive

The UK's cost to meet its ambitious net-zero and clean power goals is a massive $667 billion, or £500 billion, which would be heavily front-loaded capital expenditure that will hurt businesses and bill payers, according to trade association Energy Industries Council. Estimates from the Climate Change Committee (CCC) and the Confederation of British Industry (CBI) suggest that the necessary energy and energy infrastructure projects, including renewable energy, grid, and transmission upgrades and

Thales to buy French underwater-drone maker Exail in $4.5 billion deal

Industry champions in France and Italy move to consolidate their positions in a growing market for unmanned underwater naval equipment.

Philippines’ impeachment showdown: why removing VP Sara could be uphill battle

Philippine Vice-President Sara Duterte-Carpio did not attend the opening of her impeachment trial on Monday, leaving her lawyers to fight charges that, if upheld, could remove her from office, permanently bar her from politics and reshape the 2028 presidential race. Legal experts told This Week in Asia they expected Duterte-Carpio to be difficult, though not impossible, to convict despite the gravity of the charges because prosecutors would need at least 16 senators – two-thirds of the chamber –

Pentagon’s top new weapons programs are 12 years behind schedule: Watchdog

A new GAO report examined 104 of the Pentagon’s most expensive weapons programs.