Browsing: Business

Oil prices hit a two-week high after stalled U.S.-Iran talks and reduced Strait of Hormuz traffic tightened global crude supply for buyers.

Google will invest up to $40 billion in Anthropic, adding fresh capital and compute support as the Claude maker expands at rapid pace.

EU and US signed a critical minerals pact in Washington, formalizing supply chain coordination across mining, processing and recycling.

Wall Street ended lower Thursday after mixed corporate earnings, software losses and rising oil prices outweighed support from chip stocks.

Apple says Tim Cook will become executive chairman and John Ternus CEO on Sept. 1, formalizing the iPhone maker leadership transition.

Jordan is set for about $200 million in potential IMF funding after a staff-level deal covering the fifth EFF review and second RSF review.

NEW YORK: Gold slipped on Wednesday after touching its highest level in a month, as a firmer dollar and improving risk appetite trimmed demand for the safe-haven metal. Spot gold was down 0.3% at $4,826.13 an ounce after earlier reaching its highest since March 18, while U.S. gold futures were little changed at $4,850.40. The retreat followed an early rally and left bullion still up 1.6% for the week, underscoring how quickly sentiment has shifted across currency, equity and commodity markets. Market sentiment improved after indications that talks between the United States and Iran could resume, easing some of the risk aversion…

WASHINGTON: U.S. crude oil jumped 8.7% to $104.95 a barrel and Brent crude rose 7.4% to $102.23 in Asian trading on Monday, sending both benchmarks back above $100 after the United States said it would begin a blockade of Iranian ports. The move followed the collapse of weekend talks in Islamabad aimed at preserving a ceasefire between Washington and Tehran, and it pushed energy markets sharply higher as traders reacted to tighter restrictions on Gulf shipping. U.S. Central Command said the blockade would take effect at 10 a.m. Eastern time on Monday and would apply to vessels of any nation entering or leaving…

NEW YORK: Gold prices fell on Monday as a stronger U.S. dollar weighed on bullion and reduced demand from buyers using other currencies, while higher oil prices and fading expectations for near-term Federal Reserve rate cuts added pressure to the non-yielding metal. Spot gold was down 0.7% at $4,716.70 an ounce by 0930 GMT after touching its lowest level in nearly a week earlier in the session. U.S. gold futures for June delivery fell 1.0% to $4,738.90 an ounce. The pullback came as the dollar strengthened in broader currency trading, making dollar-priced gold more expensive for overseas buyers and undercutting one…

NEW YORK: Gold steadied on Friday and remained on track for a third straight weekly gain, with spot bullion holding near $4,764.54 an ounce and June U.S. gold futures around $4,787.80. The metal was up about 1.8% for the week, extending a rebound that gathered pace after a sharp slide in March. Expectations for lower U.S. interest rates later this year supported bullion, while a firmer dollar limited the advance and kept prices below the highs reached earlier this year. Bullion had climbed more than 1% in the previous session, rising as high as $4,789.67 in the spot market, as investors weighed…