Reported 17 days ago
Algerian state-owned oil company Sonatrach and Saudi Arabia's Midad Energy have signed a $5.4 billion production-sharing contract focused on oil and gas exploration in the Illizi Basin. The 30-year agreement, which can be extended by ten years, includes a seven-year exploration phase and aims to produce 993 million barrels of oil equivalent. The project will employ advanced technology to comply with environmental regulations and supports Algeria's goal of enhancing its role as a global energy supplier.
Source: YAHOO
Reported 17 days ago
Sungrow will provide its inverter technology for the Tauhei Solar Farm, set to be New Zealand's largest, with a capacity of 202MWp. Located near Te Aroha, this project is a joint venture between Harmony Energy and Clarus and aims to generate approximately 280GWh of clean electricity annually, sufficient to power over 35,000 homes. The solar farm will connect to Transpower's grid, and construction is expected to create around 350 jobs, with operations beginning by the end of 2026.
Source: YAHOO
Reported 17 days ago
Wells Fargo & Co. shares jumped 7.1% on Tuesday, marking their largest gain since last November, after the bank announced a positive mid-term profitability target update following the lifting of an asset cap by regulators. Analysts noted that the increase in target return on tangible common equity to 17-18% reflects the bank's strong earnings and proactive strategies. This surge places Wells Fargo among the day's top performers in the KBW Bank Index.
Source: YAHOO
Reported 17 days ago
Billionaire philanthropist MacKenzie Scott has decreased her Amazon.com stake by 42%, now holding 81.1 million shares, down from 139.1 million over the past year, as reported by Bloomberg News. This reduction is valued at approximately $12.55 billion based on Amazon's recent stock prices. Following her divorce from Jeff Bezos in 2019, Scott received a 4% stake in Amazon worth $36 billion and has been active in philanthropy, donating over $19.25 billion to various non-profits.
Source: YAHOO
Reported 17 days ago
Stellantis plans to invest $13 billion in U.S. manufacturing over the next four years, emphasizing new vehicle production rather than electrification. This investment will create over 5,000 jobs and support the development of five new vehicles, including a range-extended EV and a new gas-powered SUV. The company has recently scaled back its electrification efforts, reflecting a shift in its product strategy.
Source: YAHOO
Reported 17 days ago
U.S. stocks showed slight gains on Wednesday as Wall Street navigated a blend of earnings optimism and ongoing U.S.-China trade tensions. The Dow Jones remained nearly unchanged, while the S&P 500 rose by 0.4% and the Nasdaq Composite gained 0.7%. Bank of America reported a profit increase of 23%, and Morgan Stanley's profits surged 45%. Federal Reserve Chair Jerome Powell hinted at potential interest rate cuts, increasing market hopes. Despite these positives, concerns about trade tensions loom, notably after President Trump's remarks about a potential embargo on Chinese cooking oil.
Source: YAHOO
Reported 17 days ago
Source: YAHOO
Reported 17 days ago
Stellantis has announced a groundbreaking $13 billion investment aimed at expanding its manufacturing capabilities in the US, marking the largest investment in its 100-year history. This initiative is expected to increase production by 50%, create 5,000 new jobs, and introduce five new vehicle models over the next four years. Major funding will be allocated to various plants, including a $600 million investment in Illinois to reopen the Belvidere Assembly Plant, which was closed in 2023. This investment follows challenges stemming from extensive tariff actions and aims to strengthen Stellantis's presence in the American automotive market.
Source: YAHOO
Reported 17 days ago
Source: BARRONS
Reported 17 days ago
Intel's stock dropped over 4% following a downgrade by Bank of America analysts, who expressed concerns that the stock has become overvalued after a nearly 80% increase in 2025. The decline coincided with a downturn in the tech sector amid fears of U.S.-China trade tensions. Despite recent gains influenced by high-profile partnerships and investments, analysts caution that Intel's stock may have risen too quickly and lacks a clear AI strategy, prompting a reassessment of its market performance.
Source: YAHOO
Reported 17 days ago
Gold and silver prices hit record highs amid global uncertainties, including trade tensions and a government shutdown. Investors are seeking precious metals as a safety net against economic risks, with gold reaching $4,186 and silver $53.59 per ounce. Recent market volatility has raised concerns about a potential bubble in tech stocks, prompting the recommendation for increased investments in precious metals, suggesting that their prices may continue to rise.
Source: YAHOO
Reported 17 days ago
According to a Vanguard report, only 40% of Americans are likely to maintain their lifestyle in retirement, but younger generations, particularly Gen Z and Millennials, are showing better preparedness than Baby Boomers. This is attributed to increased access to defined contribution plans and improved plan designs, making it easier for younger workers to save for retirement. As a result, many younger employees are automatically enrolled and saving at higher rates, putting them in a stronger position for their future.
Source: YAHOO
Reported 17 days ago
Federal Reserve officials are currently divided on how to adjust interest rates, with some advocating for significant cuts to address a weakening labor market, while others prioritize controlling inflation. This discord is heightened by the challenges posed by rising inflation and potential job losses, making it difficult for the Fed to forge a unified strategy. Disagreements are becoming evident in recent meetings, as members weigh the risks associated with their dual mandate to maintain low inflation and high employment.
Source: YAHOO
Reported 17 days ago
Bitcoin and ether dropped significantly as US-China tensions escalated, erasing gains from the previous day. The conflict intensified with new port fees on shipping, exacerbating fears in the market. Bitcoin fell to $110,023.78 and ether to $3,900.80, marking notable declines attributed to both geopolitical instability and recent large-scale liquidations in the crypto space.
Source: YAHOO
Reported 17 days ago
Investors are rapidly funneling money into U.S.-based exchange-traded funds (ETFs), crossing the $1 trillion mark in inflows for 2025 according to State Street Investment Management. The trend is expected to push inflows to a potential annual record of $1.4 trillion, as more investors shift from traditional mutual funds to ETFs for their lower costs and liquidity. Despite potential market corrections, experts believe the momentum will continue, with significant growth seen across various ETF categories.
Source: YAHOO
Reported 17 days ago
The average price of a new vehicle in the U.S. has crossed the $50,000 mark for the first time, influenced by tariffs and the rising popularity of electric vehicles (EVs). Kelley Blue Book reports that the incremental price increases are driven by supply chain issues and higher production costs associated with EVs, which typically command a higher price. As wealthier households continue to purchase these vehicles, the trend of rising car prices is expected to persist.
Source: YAHOO
Reported 17 days ago
On October 14, 2025, the S&P 500 experienced mixed results, with tech stocks like Nvidia and Intel declining due to concerns over U.S.-China trade tensions, while Wells Fargo shares surged after reporting higher-than-expected profits. Nvidia's stock fell over 4%, and Intel faced a downgrade from analysts, exacerbating losses in the tech sector, which contributed to a 0.2% drop in the S&P 500. Conversely, Wells Fargo's stock rose over 7%, driven by improved profit forecasts and regulatory changes that could enhance growth opportunities.
Source: YAHOO
Reported 17 days ago
Source: INVESTORS
Reported 17 days ago
Susan Collins, President of the Federal Reserve Bank of Boston, stated that the Federal Reserve should continue to lower interest rates to support the labor market while balancing inflation control. She noted that with inflation risks contained and increased downside risks to employment, it is wise to further normalize policy this year. Although she anticipates a modest rise in unemployment, she expects hiring to improve as economic uncertainties lessen. Collins believes some additional easing of rates could be appropriate, but that policy adjustments should be carefully considered moving forward.
Source: YAHOO
Reported 17 days ago
Salesforce CEO Marc Benioff believes that agentic AI represents the next significant shift in technology, following developments in cloud, mobile, and predictive AI. During the Dreamforce event, he highlighted how autonomous AI systems will transform various business functions. Despite Salesforce's stock facing challenges this year, Benioff pointed to early adopters like PepsiCo and Williams-Sonoma as evidence of agentic AI's potential. He emphasized its role in democratizing opportunity and automating decision-making processes across industries.
Source: YAHOO
Reported 17 days ago
Amid increasing trade tensions, President Trump has accused China of engaging in economically hostile actions by not purchasing US soybeans, threatening to terminate all cooking oil business with China. Dryden Pence, a strategist from Pence Capital Management, emphasizes the underlying economic dynamics, suggesting that while both nations are involved in a tense battle, the US holds a stronger position in the trade relationship and should focus on fundamentals and earnings amidst market noise.
Source: YAHOO
Reported 17 days ago
U.S. stock markets experienced a mixed day, with the Dow Jones Industrial Average rising by 0.4% while the S&P 500 and Nasdaq dropped by 0.2% and 0.8%, respectively. The instability was heightened as President Trump intensified threats against China amidst increasing trade tensions, particularly over soybean purchases and cooking oil imports. Fed Chair Jerome Powell's speech hinted at possible future cuts while earnings reports from major banks brought mixed results.
Source: YAHOO
Reported 17 days ago
US President Donald Trump has expressed frustration with Spain for not increasing its defense spending to the NATO target of 5% of GDP, threatening potential tariffs as a 'trade punishment'. During a recent meeting, he criticized Spanish Prime Minister Pedro Sánchez's decision and suggested that Spain benefits from NATO's security umbrella without contributing its fair share, which Sánchez argues would necessitate cuts to critical public services.
Source: YAHOO
Reported 17 days ago
On October 14, 2025, major U.S. stock indexes experienced a mixed day as trade tensions between Washington and Beijing persisted. The S&P 500 fell 0.2% due to declines in tech giants like Nvidia and Broadcom, while the Dow Jones Industrial Average rose 0.4%, and the Nasdaq composite dropped 0.8%. The market's fluctuations were influenced by China's ban on dealings related to South Korean shipbuilder Hanwha Ocean, affecting U.S. industrial recovery efforts.
Source: YAHOO
Reported 17 days ago
Walmart's stock soared nearly 5% to a record closing high of $107.21 after announcing a partnership with OpenAI, enabling customers to shop directly through the ChatGPT platform using Instant Checkout. Walmart plans to enhance e-commerce with AI-driven experiences, as CEO Doug McMillon emphasized a shift toward more personalized shopping. OpenAI’s partnerships continue to grow, with notable collaborations across the tech and retail industries, reflecting Walmart's strategic move in adopting new technologies amidst a competitive market.
Source: YAHOO