Reported about 1 month ago
The recent escalation of tensions between Israel and Iran has sparked concerns over a potential disruption in Middle East oil supplies, with oil prices surging by up to 13%. Analysts indicate that OPEC+ may struggle to compensate for any major drop in Iranian oil production, as only Saudi Arabia and the UAE have sufficient spare capacity. With Iran producing approximately 3.3 million barrels per day, fears have arisen that if retaliatory actions occur, it could severely impact global oil flows, particularly through vital shipping routes. Furthermore, existing output restrictions within OPEC+ and the dwindling spare capacity due to previous production cuts add to the uncertainty in the oil market.
Source: YAHOO
Reported about 1 month ago
As conflict escalates between Israel and Iran, Donald Trump faces the complexities of foreign policy he previously claimed to master. The ongoing Russia-Ukraine war and the violent situation in Gaza further complicate his promise of a safer world. Trump’s efforts to negotiate with Iran are clouded by Israel's military actions against its nuclear capabilities, which could inadvertently draw the U.S. into a larger conflict, impacting his economic agenda and public perception.
Source: YAHOO
Reported about 1 month ago
Bunge Global SA has obtained the final regulatory approval from China for its $34 billion merger with Viterra, allowing the deal, first announced two years ago, to proceed. The merger, expected to close around July 2, 2025, will bolster Bunge's position in the global agriculture industry, bringing it closer in scale to major competitors like Archer-Daniels-Midland and Cargill. This approval follows prior conditional approvals from Canada, the EU, and other markets, despite earlier concerns about competition. The merger is anticipated to enhance Bunge's grain exporting and oilseed processing capabilities.
Source: YAHOO
Reported about 1 month ago
A group of four-legged robots from Boston Dynamics showcased their synchronized dance routine to Queen's 'Don't Stop Me Now' on 'America's Got Talent,' earning praise and four 'yes' votes from judges despite one robot shutting down mid-performance. Judge Simon Cowell noted that the mishap highlighted the challenges of robotic technology, suggesting that the imperfect performance made it more memorable.
Source: YAHOO
Reported about 1 month ago
High-ranking tech executives from major Silicon Valley companies, including Palantir, Meta, and OpenAI, are taking on part-time roles in the U.S. Army Reserve. Responding to a call from the Defense Department for top talent to assist with short-term projects in data and cybersecurity, this initiative has seen participation from notable figures like Meta's CTO Andrew Bosworth and Palantir's Shyam Sankar.
Source: YAHOO
Reported about 1 month ago
Amazon has announced a new power purchase agreement to obtain 1.92 GW of electricity from Talen Energy’s Susquehanna nuclear power plant to power its AWS cloud and AI servers. This move aligns with a trend where major tech companies, including Microsoft and Meta, are sourcing energy directly from nuclear plants. Amazon's deal modifies an existing arrangement to ensure compliance with regulatory standards, and it also includes plans to explore the construction of small modular reactors to enhance nuclear energy generation.
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
In today's market update, Bank of America upgraded Whirlpool's stock to Neutral, raising its price target significantly. Chime Financial saw a decline in its stock on its second day of trading following a steep rise during its IPO. Meanwhile, Oracle's shares reached an all-time high after reporting a major increase in cloud sales projections.
Source: YAHOO
Reported about 1 month ago
The US and Vietnam are nearing a trade framework agreement, responding to ongoing tariff issues and concerns about Chinese goods being rerouted through Vietnam. While the specifics are still under negotiation, Vietnam seeks to establish tariffs between 20% and 25%, and comply with US demands for stricter enforcement against Chinese product transshipment. This agreement is critical for both countries as Vietnam plays a vital role in American supply chains, particularly for consumer goods. The talks reflect the complexities of navigating trade dynamics while addressing trade deficits and strategic interests.
Source: YAHOO
Reported about 1 month ago
In this week's recap of startup news, key developments include neobank Chime's successful IPO after near bankruptcy in 2016, Nucleus Genomics facing backlash for its controversial embryo selection product, and Automattic's acquisition of relationship management app Clay. Notable funding rounds featured Multiverse Computing raising €189 million, Glean's $150 million Series F, and Fervo Energy's $206 million financing for a geothermal plant. Fresh investments also poured into fintech and legal tech startups, with significant funds aiming to innovate in various sectors.
Source: YAHOO
Reported about 1 month ago
A year after its public launch, Bluesky has amassed over 36.5 million users and highlighted numerous applications built on its underlying AT Protocol designed to foster an open social web. The ATmosphere conference in Seattle showcased various upcoming consumer-facing apps, emphasizing a shift away from centralized platforms. These apps, still in early development, aim to restore features of the original Web 2.0 while prioritizing user control over data, including alternatives for photo sharing, video streaming, and community engagement.
Source: YAHOO
Reported about 1 month ago
Tesla shares have rebounded significantly after losing ground due to the public spat between CEO Elon Musk and former President Donald Trump. Following a dramatic drop in market cap of $150 billion, Tesla's stock is up 8% this week as tensions have cooled, with Musk expressing regret over some of his social media posts. Despite the recovery, Tesla shares remain down 20% for the year.
Source: YAHOO
Reported about 1 month ago
Zevo, a startup focused on electric vehicle car-sharing, is enabling Tesla owners to earn income by renting out their cars. Co-founded by Hebron Sher and Saimah Chaudhry, the Dallas-based platform has attracted significant interest from gig workers—90% of users rent EVs for rideshare and delivery services. By streamlining processes and focusing solely on EVs, Zevo offers better profitability for car owners compared to traditional platforms. With plans to expand to more major U.S. cities, the company aims to disrupt the car-sharing market while enhancing earning opportunities for Tesla owners.
Source: YAHOO
Reported about 1 month ago
Despite a slowdown in most sectors due to tariffs and geopolitical uncertainty, the unglamorous field of data infrastructure is driving a surge in mergers and acquisitions in tech, especially as companies race to enhance their AI capabilities. Major players like Meta and Salesforce are targeting data processing companies to fuel their AI models, recognizing that data is crucial for AI's functionality. Recent deals highlight a trend where established companies are acquiring specialized firms to streamline data management, with predictions that generative AI spending will soar in the coming years.
Source: YAHOO
Reported about 1 month ago
In a significant escalation of military conflict, Israel launched extensive airstrikes on Iran early Friday, targeting nuclear sites and resulting in the deaths of senior Iranian military leaders. The attacks have prompted a retaliatory missile barrage from Iran, raising fears of a broader conflict in the Middle East. US President Donald Trump urged Iran to accept a nuclear deal to avert further violence, while Israeli Prime Minister Benjamin Netanyahu stated that operations against Tehran’s nuclear infrastructure will continue. The situation has led to increased global oil prices and raised concerns over potential economic repercussions.
Source: YAHOO
Reported about 1 month ago
The dollar's muted rebound against major currencies following Israel's attacks on Iran underscores concerns about its diminishing role as a global safe haven. Although the currency showed some gains, it remains close to three-year lows, influenced by increasing tariffs and trading uncertainties under the Trump administration. Experts suggest that any significant recovery of the dollar would require a major escalation in geopolitical tensions or a shift in global risk sources away from the U.S.
Source: YAHOO
Reported about 1 month ago
A recent survey reveals that many Americans lack fundamental understanding of retirement planning, with respondents answering only one-third of key questions correctly. This is concerning as approximately 4 million people will turn 65 in 2025, highlighting the urgent need for better financial literacy regarding Medicare coverage, long-term care costs, and life expectancy in retirement. Experts emphasize that understanding these factors is crucial for effective budgeting and financial security in retirement.
Source: YAHOO
Reported about 1 month ago
Oil prices experienced a significant increase on Friday after the Israeli Defense Forces conducted extensive strikes on Iran's nuclear facilities and military leaders. U.S. West Texas Intermediate rose by approximately 6% to $72 per barrel, while global benchmark Brent crude saw a jump of up to 10%, reaching its highest point since January. Market analysts express concern over potential Iranian retaliation, which could disrupt oil supplies and further escalate tensions in the region.
Source: YAHOO
Reported about 1 month ago
The Cass Freight Index reports a decline in freight shipments in May, dropping 0.4% from April and 4% year-over-year, while freight rates have increased by approximately 5%. Trade tensions appear to be easing, allowing carriers to raise prices despite ongoing effects from tariffs. The observed trends indicate a precarious balance as inventory levels shift from stocking to destocking, leaving the demand outlook uncertain.
Source: YAHOO
Reported about 1 month ago
TechCrunch All Stage, taking place on July 15 in Boston, is tailored for founders looking to make meaningful progress in their ventures. The event prioritizes actionable insights and networking over traditional presentations, featuring roundtables, feedback sessions, and casual conversations with top investors and fellow entrepreneurs. Attendees can expect an immersive experience that fosters real connections, with the opportunity for discounts on tickets if purchased early.
Source: YAHOO
Reported about 1 month ago
Despite recent data indicating a slowdown in inflation, Federal Reserve Chair Jerome Powell remains hesitant to lower interest rates at the upcoming monetary policy meeting, opting instead to wait until September. Analysts note that while inflation indicators such as the Producer Price Index and Consumer Price Index have shown lower-than-expected increases, potential tariff impacts could lead to future inflation shifts. Market traders are already anticipating rate cuts, with speculation increasing that two cuts might occur this year, beginning in September.
Source: YAHOO
Reported about 1 month ago
Iran has labeled Israel's airstrikes, aimed at its nuclear sites and military leadership, as a declaration of war, amidst President Trump's calls for a renewed nuclear deal. Mark Ginsberg from the Coalition for a Safer Web discussed the implications of these attacks, highlighting Israel's military actions and the international reactions, as the U.S. navigates its support role amid escalating tensions.
Source: YAHOO