Latest Business News
Brent Crude Surges Over 20% to $93 on Iran War Tensions
Benchmark Brent crude exceeded $93 per barrel, marking a more than 20% weekly surge due to the Iran conflict. US crude hit nearly $91, the biggest weekly gain on record with a 12% Friday jump. This turbocharges US affordability issues as oil jumped $20 in under a week.
Global Stocks Plunge in Worst Week Amid War Volatility
Wall Street's S&P 500 fell over 1% Friday for its worst week since November; Japan's Nikkei slumped 5.5%, India's blue chips nearly 3%. Canadian TSX dropped 1.57% to 33,083; Brazilian Bovespa crashed 5%.
Crude Oil Hits $115 on Hyperliquid as Kuwait, UAE Cut Production
Crude prices surged to $115 on Hyperliquid exchange following production slashes by Kuwait and UAE amid Middle East crisis. This exacerbates global energy supply fears tied to Iran conflict disruptions.
Fuel Prices Jump Worldwide on Escalating Middle East Conflict
Fuel costs are rising globally with US gasoline at 11-month highs, double-digit increases in Germany, and UK petrol hikes. The Iran war threatens Strait of Hormuz, vital for energy shipments.
Middle East Crisis Risks Spiking Global Inflation and Slowing Growth
Goldman Sachs warns European gas futures could double if Strait of Hormuz blocked; EU inflation may rise over 1 point, growth cut by 0.5%. US inflation could hit 3% by year-end from current oil levels.
Shipping Disruptions Hit as Firms Suspend Middle East Services
Containers pile up at Indian ports after shipping lines halt Middle East routes due to conflict. Xeneta flags immediate logistics uncertainty spreading to global supply chains.
China Sets Lowest Growth Target Since 1991 Amid Property Recession
Beijing's two sessions set growth at historic low amid property woes, deflation, and US tariff uncertainty. Regional growth outlooks dim as Iran war adds macro pressures.
Businesses Demand Predictability Amid Trade Fragmentation
International Chamber of Commerce chair stresses need for stability, pragmatic reforms for investment in fragmented world. Warns WTO collapse could cost emerging economies 5-10% GDP.
US Stagflation Risks Rise with Surging Energy and Factory Prices
Wall Street banks caution stagflation as US job growth stalls, inflation flares from high factory prices and energy costs post-Iran war. Mixed macro signals cloud outlook.
Google, JPMorgan Launch $100M Initiative Against Superpollutants
Google, JPMorgan and others start $100 million fund to tackle superpollutants amid climate concerns. This business move addresses environmental risks in turbulent economic times.
Ray Dalio Urges Leaders to Embrace Uncertainty in Decision-Making
Billionaire investor Ray Dalio warns people make bad decisions from over-certainty, advising leaders to embrace uncertainty. Timely amid Iran war's market chaos.
Apple Unveils AI-Powered Macs and MacBook Neo in Tech Roundup
Weekend tech news: Apple launches AI Macs, MacBook Neo; Apple TV on Roku; Google flags iOS cybersecurity threat. Highlights innovation despite global tensions.