Reported 29 days ago
As the Federal Reserve convenes this week, investors are focused on whether it will reaffirm its commitment to two rate cuts by the end of the year. Despite pressures from President Trump to expedite rate reductions amidst rising geopolitical tensions, analysts expect the Fed to maintain its cautious stance, weighing inflation risks against economic growth and employment stability. The upcoming 'dot plot' will provide insight into policymakers' projections, with many predicting little change from previous forecasts.
Source: YAHOO
Reported 29 days ago
US Treasuries experienced a decline as heightened tensions between Israel and Iran over the weekend reignited inflation concerns, leading to an increase in 10-year bond yields. Oil prices initially surged but later eased, yet fears of sustained higher energy costs continue to pressure US and European bonds. Analysts predict continued volatility and a risk-averse environment for investors, potentially resulting in higher yields as geopolitical uncertainties persist.
Source: YAHOO
Reported 29 days ago
Source: WSJ
Reported 29 days ago
Source: WSJ
Reported 29 days ago
Abu Dhabi National Oil Co. (Adnoc) has made an ambitious offer of $18.7 billion for Australia's Santos Ltd., aiming to enhance its liquefied natural gas production. The deal, if approved by Australian regulators, would allow Adnoc to gain stakes in significant operations in Australia and Papua New Guinea. Santos' board has recommended the offer, which represents a substantial premium to recent share prices. Despite the bullish outlook, analysts caution potential regulatory challenges that could impact the acquisition process.
Source: YAHOO
Reported 29 days ago
In May, China's economy showed a mixed performance with retail sales increasing by 6.4%, fueled by a shopping festival and products that were redirected from exports due to rising tariffs. However, factory output slowed to a 5.8% growth, down from previous months, and exports to the U.S. plummeted by 35%. Although retail spending rose slightly, consumer confidence remains low amidst ongoing property market issues and deflation concerns.
Source: YAHOO
Reported 29 days ago
Kering SA, the owner of Gucci, is set to appoint Luca de Meo, the CEO of Renault, as its new CEO in an effort to revitalize the struggling luxury brand. This decision comes amidst Kering's significant share value decline and challenges faced by Gucci, particularly in the Chinese market. De Meo, recognized for his successful turnaround of Renault, aims to bring similar improvements to Kering as the company navigates leadership restructuring amidst ongoing competition with rivals like LVMH and Hermes.
Source: YAHOO
Reported 29 days ago
Japan's bond market is experiencing significant volatility, leading to increased fears and fluctuations in global debt markets. The Japanese government's easing of yield controls has made its bond prices more sensitive, resulting in a ripple effect that has impacted U.S. Treasury yields and other sovereign bonds. The ongoing turmoil raises concerns about escalating fiscal deficits and may lead to broader instability in global financial markets.
Source: YAHOO
Reported 29 days ago
Nvidia CEO Jensen Huang has been advocating for 'sovereign AI,' urging European nations to develop their own AI infrastructures, as Europe seeks to lessen its reliance on U.S. tech giants. During his recent tour of major European capitals, Huang announced several projects aimed at building AI capabilities in the region. European leaders, recognizing the urgency to boost local AI production, have begun to invest significantly, with the EU planning to establish AI gigafactories to reduce dependence on American firms. Despite the challenges of high energy costs, the push for a more self-sufficient AI landscape represents a pivotal shift for Europe's tech industry.
Source: YAHOO
Reported 29 days ago
Gold prices dipped slightly after earlier gains as fears of a wider Middle East conflict diminished, with Iran expressing a willingness to resume nuclear talks with the U.S. The precious metal traded around $3,390 an ounce, remaining close to its record high. Investor interest in gold surged last week amid geopolitical tensions, and many are reallocating their investments from U.S. bonds. A survey suggests a declining U.S. dollar further supports gold's appeal.
Source: YAHOO
Reported 29 days ago
Nippon Steel's shares rose by 3% after U.S. President Donald Trump approved its $14.9 billion bid for U.S. Steel, marking a significant step in a lengthy acquisition process. The deal, which includes substantial future investments and governance commitments, boosts Nippon Steel's annual capacity to 86 million metric tons and opens greater access to the U.S. market amid rising steel demand. Despite concerns over financial strain and government oversight, analysts see the agreement as a positive move for Nippon's long-term growth strategy.
Source: YAHOO
Reported 29 days ago
Barington Capital Group, an activist investor owning over 1% of Victoria's Secret, plans to push for changes to the company's board and the recent shareholder rights plan aimed at preventing hostile takeovers. Amid a decline in demand and a 55% drop in share value this year, Barington argues that the retailer needs to refocus on its core brands and improve leadership, particularly under CEO Hillary Super. The firm has a history of advocating for operational changes that enhance shareholder value.
Source: YAHOO
Reported 29 days ago
China's steel production decreased significantly in May compared to the previous year, marking the first year-on-year contraction since the government announced plans to reduce output to tackle overproduction. Production fell by 6.9% to 86.55 million tons, accompanied by a weaker performance in the property market and ongoing impacts from the US-China trade war. Meanwhile, the aluminum sector saw growth, with production rising 5% due to lower power costs, while fossil fuel output remained more stable despite broader economic challenges.
Source: YAHOO
Reported 29 days ago
Tesla's stock has largely bounced back from losses tied to Elon Musk's public feud with Donald Trump, bolstered by anticipation for the upcoming robotaxi launch. Recent trading indicates strong support at $265 and $215, while investors should keep an eye on resistance levels around $365 and $430 as the company's stock gains momentum.
Source: YAHOO
Reported 29 days ago
President Trump has ordered the expansion of deportation efforts by ICE in major cities like New York and Chicago, aiming for the largest mass deportation program in history. This directive comes amidst ongoing protests against aggressive ICE raids and concerns about the impact on vital sectors of the US workforce. Trump's actions have faced legal challenges, particularly regarding the deployment of National Guard troops in response to unrest.
Source: YAHOO
Reported 29 days ago
U.S. stock markets rebounded on Monday as fears over the escalating Israel-Iran conflict eased with reports of potential de-escalation talks from Tehran. The Dow Jones increased by about 1%, while the S&P 500 and Nasdaq also posted gains. Oil prices fell nearly 2% as investors reassessed the conflict's impact on global energy supply. The market’s improvement follows a tough previous week, and attention shifts to the upcoming Federal Reserve meeting.
Source: YAHOO
Reported 29 days ago
President Emmanuel Macron has offered France's support for joint security exercises in Greenland, amidst Donald Trump's renewed interest in acquiring the Danish territory. In a press conference with Danish PM Mette Frederiksen, Macron emphasized the need for collaboration to prevent Greenland from being annexed and called for a unified European stance against such ambitions. He plans to address this issue during the upcoming G-7 meeting with Trump.
Source: YAHOO
Reported 29 days ago
澳大利亚证券交易所ASX的股票因国家证券监管机构ASIC启动对其“反复且严重”的操作失误的调查而下跌。ASIC将重点审查ASX的治理、能力及风险管理框架，并成立专家小组进行此项调查。ASX承认存在损害信任的事件，尽管其正在努力进行转型策略。
Source: YAHOO
Reported 29 days ago
Nissan Motor's CEO Ivan Espinosa announced plans to lower the company's stake in French partner Renault, as reported by the Nikkei. Selling its entire 5% stake could generate approximately 100 billion yen ($640 million), which is intended to support new vehicle development in light of tough market conditions.
Source: YAHOO
Reported 29 days ago
Australian oil and gas company Santos has agreed to back a takeover bid valued at $18.7 billion from a consortium led by Abu Dhabi's National Oil Company (ADNOC). The offer, which comes amid rising oil prices and geopolitical tensions, includes a premium on Santos shares. The deal will require regulatory approvals and support from at least 75% of Santos investors, with analysts noting potential risks related to regulatory hurdles. The acquisition aims to enhance ADNOC's global gas business by gaining control of Santos' valuable LNG operations.
Source: YAHOO
Reported 29 days ago
President Donald Trump stated that while he believes Israel and Iran could eventually reach an agreement to resolve their ongoing conflict, it may require further military engagement between the two nations before such a deal can be brokered. As tensions rise, with Israel conducting military strikes against Iran and Iran retaliating, Trump expressed uncertainty about U.S. involvement but acknowledged the situation could escalate. He emphasized that sometimes conflicts need to intensify before resolutions can be found.
Source: YAHOO
Reported 29 days ago
Oil prices rose sharply as the conflict between Israel and Iran escalated, with Brent crude increasing by up to 5.5% following attacks on each other’s territories. Investors are concerned about potential disruptions in oil supply from the Persian Gulf region, leading to a surge in traditional safe havens like gold and the dollar. Market analysts warn of prolonged uncertainty, advising investors to hedge against possible oil supply chain disruptions.
Source: YAHOO
Reported 29 days ago
Oil prices surged in early Asian trading as renewed attacks between Israel and Iran heightened fears of a wider regional conflict that could disrupt oil exports from the Middle East. Brent crude futures rose 2.3% to $75.93 a barrel, while U.S. West Texas Intermediate climbed 2.2% to $74.60, following a significant increase over the past week. The ongoing military exchanges have raised concerns over the sensitive Strait of Hormuz, a critical passage for global oil shipments.
Source: YAHOO
Reported 29 days ago
Source: BARRONS
Reported 29 days ago
Renault's CEO Luca de Meo is resigning from the automaker to take on a new role as chief executive of Kering, the owner of Gucci. During his tenure, de Meo successfully restructured Renault, focusing on hybrid and electric vehicles. His departure follows significant leadership changes at Kering, which faces challenges in revitalizing its Gucci brand amid substantial debt.
Source: YAHOO