Finance news

Japan's Kanadevia to tap European demand with Italy biogas plant

Future technology: Trump orders faster development of quantum computers

Quantum computers are expected to become drastically more powerful than current technology. Donald Trump is now jumping on the bandwagon and wants to give the US government a better position.

Why South Korea’s AI chip boom is a ‘serious concern’ for its economy

South Korea’s AI-driven semiconductor boom has sent exports, corporate profits and stock prices to record highs, but a senior policymaker has warned that the windfall could fuel property speculation and deepen inequality if its gains remain narrowly concentrated. “Looking solely at the numbers, it is something to cheer about. However, strangely, a corner of my heart feels heavy,” Kim Yong-beom, chief of the Presidential Policy Office and one of South Korea’s most senior economic policymakers,...

Philip R. Lane: Introductory remarks

How Many Barrels of Oil Do AI Data Centers Consume on a Daily Basis?

Back in 2017, we did the math to figure out how much oil it takes to mine a single Bitcoin. The answer then was about 20 barrels of oil equivalent per coin. Today it's closer to 500. The Bitcoin network now draws somewhere between 138 and 175 terawatt-hours a year, depending on whose model you trust… Split across the roughly 164,000 coins minted annually since the last halving, that lands at around 500 barrels of oil equivalent at today’s prices per Bitcoin, and past 600 on the higher estimates.

74x volume spike on TSX-V today – name change to “AI” + paid promo (we passed)

Hey r/investing Quick case study from today’s market action on the TSX-V. (Canadian venture market, my niche specialty) One micro-cap name (**MIVO.V – now Miivo AI*\) saw its volume explode ***74x**** its average. The move? +3.9% on the day. **What drove it?*\* A name change riding the AI theme, combined with newly announced investor relations and marketing deals (plus an earlier acquisition). No drill result. No major contract. No earnings beat. This is a classic example of promotion-driven vol

How Keir Starmer will be replaced as UK PM and will anyone stand against Burnham?

British Prime Minister Keir Starmer conceded on Monday that he had lost the support of his rank-and-file Labour Party members in Parliament and that he will step down once his successor as party leader is chosen, possibly as soon as the middle of July. Andy Burnham, the former mayor of Greater Manchester whose resounding victory in a special UK election last week set in motion Starmer’s resignation, has confirmed he will put himself forward to be his successor. Burnham is seen as the...

Beijing is summoning executives again, but here's why that's causing less worry than in 2021

Beijing is summoning tech executives for meetings as it did in 2021, but now it has less room to wield a heavy hand due to deflation and rivalry with the U.S.

Ro Khanna challenges Elon Musk to televised debate after online DOGE battle

Rep. Ro Khanna, D-Calif., has been a critic of the Elon-Musk-led Department of Government Efficiency cuts.

Former Gotti hitman-turned-New Jersey councillor has returned to crime, prosecutors allege

A notorious mob hitman who once testified against John “Junior” Gotti before cleaning up his life and becoming a councilman in New Jersey has been arrested on extortion and loan sharking charges that, if proven, reflect a return to the lifestyle of his youth. John Alite, 63, was arrested on Friday in New Jersey, where he was sworn in early last year as a councillor in the borough of Englishtown. Released after a court appearance on Saturday, Alite is scheduled to return to court for a detention.

Executive order jumpstarts Pentagon’s quantum sensor projects

Two executive orders signed today direct the Defense Department to field three new types of quantum sensors by 2028, assist the Energy Department in building a quantum supercomputer, and advise other agencies on defeating quantum hackers.

'We'll see' — Trump hedges on guarantee Iran won't use oil profits to rebuild military

Treasury Secretary Scott Bessent authorized the import of Iranian oil and refined products into the U.S. through at least August.

CNBC's The China Connection newsletter: Tackling EV trucks after success with cars

Beijing's latest push into electric trucks has echoes of measures announced more than a decade ago to develop new energy passenger cars.

Half-Open, Half-Closed Strait of Hormuz Baffles Oil Markets

Oil prices have continued to whipsaw since the U.S. and Iran announced last week signed a deal to make a deal as traffic through the Strait of Hormuz is anything but straight and not expected to normalize within days. Contradictory messaging from Iran and the United States on the navigability of the chokepoint have intensified during the weekend amid a difficult start to the (delayed) talks in Switzerland. Shippers and insurers, who were already very cautious about returning to the Persian Gulf

Trump may say he’s banning Wall Street from buying homes. Does the bipartisan housing bill actually do that?

The measure “will take time to meaningfully affect housing affordability and will not resolve voter frustration in that area,” analysts said.

Trump criticises UK’s Starmer after PM announces resignation

US President Donald Trump criticised outgoing British Prime Minister Keir Starmer on Monday after the Labour leader announced he would resign, saying he had “really hurt himself” over energy, immigration and his handling of relations with Washington. “I think he’s a lovely man,” Trump told reporters at an Oval Office event, before accusing Starmer of mishandling Britain’s energy policy by failing to exploit North Sea oil and allowing “windmills all over the place”. “The UK buys much of its...

Tesla faces federal probe after Model 3 slams into Texas home, killing 76-year-old

Harris County authorities said that the driver, Michael Butler, said that he had been using Tesla's partially automated driving systems.

Software company: Oracle has cut around 21,000 jobs as part of its AI conversion

The software company has now laid off more than 13 percent of its workforce. The development increases concerns in the tech industry about further job cuts.

Wall Street loves growth stocks — but these 10 ‘losers’ are primed to win

Elon Musk’s $1 trillion SpaceX prediction is probably wrong. Contrarian investors are buying these out-of-favor value plays instead.

Japan’s defence outreach to counter China’s military rise hits hidden roadblocks

Japan seized the spotlight at last month’s Shangri-La Dialogue, stepping into a vacuum left by the Chinese defence chief – who skipped the forum for a second year – and using the stage to sharpen its warnings over Beijing’s military rise. Speaking in Singapore on May 31, the final day of the security forum, Japan’s Defence Minister Shinjiro Koizumi pushed back against Beijing’s accusation that Japan is engaging in a “new militarism” and instead took aim at China’s growing military capabilities..

Global EV Industry Faces Outsized Risk From Cobalt Supply Disruptions

Back in 2020, the electric vehicle sector witnessed a major evolutionary change after leading EV makers started using cobalt-free batteries at scale. Back then, Tesla Inc. (NASDAQ:TSLA) officially shifted to Lithium Iron Phosphate (LFP) for its standard-range vehicles while its leading Chinese rival, BYD Company (OTCPK:BYDDF), introduced its famous "Blade" batteries, triggering mass adoption of LFP batteries for electric vehicles by other automakers. LFP batteries have helped EV manufacturers to

‘I will do what I have to do’ if Iran does not stick to deal, says Trump

US President Donald Trump said on Monday “I will do what I have to do” if Iran does not stick to its agreement with ‌Washington. “If Iran doesn’t live up to their agreement, or if they’re not behaving, I will do what I have to do,” Trump told reporters. Trump and Iranian President Masoud Pezeshkian signed an interim US-Iran deal last week, more than three months after the US and ⁠Israel attacked Iran and Iran responded with its own attacks on Israel and ‌Gulf states with US bases. Trump said on.

Can Quad break China’s mineral monopoly amid US-India rift?

The US strike on an oil tanker in the Gulf of Oman earlier this month did more than kill three Indian sailors and severely undercut US-India relations. It has also cast further doubt on the unity of the Quad, an informal bloc made up of the United States, Japan, Australia and India, and the group’s ambitious agenda aimed at loosening China’s dominant grip on critical minerals. Despite the persistent US-India fissures that could slow down the Quad’s momentum, however, a counter-unifying force may

What Hong Kong can learn from mainland cities’ 5-year plans

The Hong Kong government has launched a two-month public consultation for the city’s first five-year plan, marking an important milestone in its development. The blueprint provides the city with a clearer vision for the future and a systematic approach in pursuing further growth under the auspices of the “one country, two systems” framework. It also puts Hong Kong in a better position to align with China’s overall national development. Over the past few months, various sectors of Hong Kong...

Iran conflict: Trump criticizes European NATO partners before Rutte's visit

Shortly before NATO boss Rutte's visit, Trump is increasing the pressure on European allies. The US President is once again accusing several NATO states of lacking support.

Shooting in Montreal, Canada leaves 3 dead including suspect

A midday shooting in Montreal killed three people on Monday, including a police officer, a civilian and the alleged gunman, triggering rare levels of shock across the Canadian city. The bloodshed took place in a partly Jewish neighbourhood that includes kosher markets and restaurants but police declined to comment on what the motive might have been and whether the incident amounted to a hate crime or act of terror. French language public broadcaster Radio Canada said the shooter was connected to

Pro-Europeans under pressure: Romania: government formation failed

Power poker in Bucharest: Romania's parliament has rejected the candidate for prime minister. The president now has to find a new candidate.

Another positive milestone for Rolls-Royce Civil Aerospace

The Pearl 10X successfully powered the first flight of Dassault’s brand-new Falcon 10X business jet. After the news of the SMR contract with Sweden and the nuclear deal with Japan another milestone for RYCEY / RR . While this isn’t a narrowbody engine program, it shows Rolls-Royce continues to execute on new engine development, certification and customer acquisition. The Falcon 10X is also the first Dassault business jet ever powered by Rolls-Royce engines. One more example that the investment c

Japan looks to push 40% of household assets into investments, up from 23%

81 years on, Okinawa youth turn to Instagram to keep wartime memories alive