North America

Petrobras, the state-run oil company in Brazil, was the biggest winner of the auction on Thursday. The sale is expected to generate revenues in excess of $5.08 billion. The amount exceeds initial Government forecasts The 25 billion reais should boost the public coffers, as the Luiz Inacio Lula Da Silva administration tries to reach its fiscal targets. The state-run company PPSA held the auction, and is responsible for selling that portion of oil which companies producing under share contracts in pre-salt fields must give to the Brazilian government according to Brazilian law. Petrobras purchased three of the seven lots that...

The International Monetary Fund raised its GDP growth forecast for Saudi Arabia for 2025 to 3.5%, from 3%. This was partly due to the demand for government-led project and the OPEC+ plan to gradually end oil production cuts. Saudi Arabia is expected to have a budget deficit of $27 billion in this year due to lower oil prices. The kingdom is still pushing ahead with a massive transformation program called Vision 2030, which aims to wean its economy off oil dependence. Saudi Arabia has made significant investments in sports, entertainment, and tourism in the last few years. Even though oil...

Financial markets are in limbo as the first half of this year ends. They're waiting to see if the global trade deal kaleidoscope will come together - or not - after July 9 when Washington's "reciprocal" tariffs expire. Which trades are most at risk if investors get caught off guard? Today's market is in a state of suspended animation. This is an incredibly bullish situation. The U.S. forecasts for growth are increasing, S&P earnings growth estimates are at 14% next year, corporate deal making is on the rise, and global stocks are at records highs. It seems that the uncertainty...

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Blue Origin founder Jeff Bezos has spoken to U.S. president Donald Trump at least two times this month, as he attempts to take advantage of a rivalry between SpaceX founder Elon Mush and Trump to bag more government contracts. Shell denied that it had approached BP and was involved in negotiations for the largest oil deal of a generation. Conagra Brands is removing certified colors for food, drugs and cosmetics from its U.S. frozen products portfolio by...

The U.S. coal company Peabody Energy has extended a lockout in one of its New South Wales mining operations, the Mining and Energy Union said Thursday. This follows a protest by its workers who demanded better wages and job security. According to the union, Peabody informed MEU members that the lockout of the Helensburgh underground mine would continue until July 6. The union stated that the workers had been locked out and without pay since 18 June. It also urged the Federal Government for a change in workplace laws which allow employers to take excessively "disproportionate" or "punitive actions" against...

The 'dedollarization' debate focuses a lot on foreign exposures to U.S. stocks and bonds. Investors shouldn't ignore the foreign direct investment flows. This is the traditional sticky capital which may be sending out warning signs. Foreign direct investment (FDI), is when an overseas entity purchases the assets or increases its holdings of a foreign company. This can be done by purchasing machinery, plants, or a controlling interest. FDI, therefore, is a more stable investment than portfolio flows. Donald Trump, the U.S. president, says that he has brought record-breaking foreign investment to his country. The White House website has a "non...

Donald Trump stated on Wednesday that the U.S. had not abandoned its maximum pressure against Iran, including restrictions on the sale of Iranian oil. However, he indicated a possible easing of enforcement in order to help rebuild the country. They'll need money to get that country in shape. When asked at a NATO Summit press conference if he would ease oil sanctions against Iran, Trump replied: "We want to see it happen." Trump had said the day before that China could continue to buy Iranian oil after Israel agreed to a ceasefire with Iran, but later clarified his remarks did...

Constellation Energy executives said that the former Three Mile Island nuclear plant in Pennsylvania could restart in 2027. This is about one year earlier than originally planned. The plant was put on a rapid track to connect with the regional grid. Constellation signed a contract in September last year to power Microsoft's data centers. This will pave the way for the reopening of Three Mile Island. Three Mile Island is widely known as the location of a partial nuclear meltdown that occurred there in 1979, which froze the industry. Constellation’s 20-year agreement to purchase power from Microsoft is indicative of...

We Energies is a subsidiary of WEC Energy and plans to extend the operation of units 7 & 8 at the Oak Creek Coal-fired Power Plant in Wisconsin until the end of 2026. Now, the plant that was to be retired at the end 2025 will have units to meet the high energy demand. We Energies President Mike Hooper stated that "just this month, National Grid experts raised the alarm about elevated risks of electricity shortages and prices spikes due plant closures and increased energy demand in Upper Midwest." In April, U.S. president Donald Trump signed executive orders to boost...

The 'dedollarization' debate has largely focused on the foreign exposure of U.S. stocks and bonds. Investors shouldn't ignore the foreign direct investment flows. This is the traditional sticky capital which may be sending out warning signs. Foreign direct investment (FDI), is when an overseas entity purchases the assets or increases its holdings of a foreign company. This can be done by purchasing machinery, plants, or a controlling interest. FDI, therefore, is a more stable investment than portfolio flows. Donald Trump, the U.S. president, says that he has brought record-breaking foreign investment to his country. The White House website has a...

In recent years, the financial markets have consistently underestimated the Federal Reserve’s willingness to reduce interest rates. The latest Fed talk, softer economic data and the dramatic drop in oil prices could indicate that they are right this time. Last week, the central bank appeared to snuff out traders' hopes of a dovish steering. The Fed's summary economic projections maintained its median "dot plot" projection of two rate cuts of 25 basis points this year. It was a close call and the Fed lowered its 2026 forecast from two rate cuts to just one. In the days following, it was...

The oil prices rose on Wednesday as investors assessed whether the ceasefire agreement between Iran and Israel would hold. Brent crude futures increased 75 cents or 1.1% to $67.89 per barrel. U.S. West Texas Intermediate crude (WTI), which is a blend of U.S. West Texas Intermediate and West Texas Intermediate, gained 71c, or 1.1% to $65.08. Brent settled at its lowest level since June 10, and WTI, since June 5. Both were before Israel launched an attack on Iranian nuclear and military facilities on June 13, After the U.S. attack on Iran's nuclear facility over the weekend, prices had risen...

Australian shares ended lower on Thursday. Technology stocks were the main drag, with software giant Xero falling after raising capital for a discounted price to fund Melio Payments' buyout. The S&P/ASX 200 Index closed at 8,550.8, a 0.1% decrease. The benchmark index ended Wednesday with a flat finish. Technology stocks fell 2.1% and closed at their lowest level in over three weeks. Xero, which dropped 5.3%, was the main culprit. The accounting software maker's shares resumed trading a few days after Melio Payments, a U.S./Israeli payments provider, announced that it was acquiring it for up to $3 billion. The company...

Gold prices rose on Thursday due to a weaker US dollar and growing unrest after news reports claimed that Donald Trump, the U.S. president, had considered replacing Federal Reserve chair Jerome Powell in September or October. The reports raised concern over the future independence and stability of the U.S. Central Bank, which boosted demand for bullion as a safe haven. As of 0242 GMT, spot gold was up by 0.2%, at $3,339.20 an ounce. U.S. Gold Futures increased 0.3% to $3353.10. Gold priced in greenbacks is now less expensive for buyers overseas. Powell said to a U.S. Senate committee on...

The gold price eased on Tuesday as the demand for safe-haven assets decreased due to a ceasefire agreement between Iran and Israel. Market participants were cautious in advance of important U.S. data. Gold spot was down 0.3% to $3,314.45 an ounce as of 0934 am EDT (1334 GMT), after the previous session saw prices at their lowest level in more than two weeks. U.S. Gold Futures dropped 0.2% to $3328.10. Daniel Pavilonis is a senior market strategist with RJO Futures. He said that despite the potential and momentum in the markets, gold has never reached new highs. "So, now I...

The copper price rose on Wednesday, supported by the tentative ceasefire agreement between Iran and Israel that improved market sentiment and the stronger yuan in China, a major metals consumer. The price of three-month copper at the London Metal Exchange rose 0.3% to $9,696.50 per metric tonne by 1034 GMT. On Wednesday, the ceasefire brokered on behalf of U.S. president Donald Trump seemed to hold. This was a day after each country had signaled that their air conflict had ended. The yuan of China has been steadily rising against the dollar. It is now nearing its highest level in over...

Two people familiar with the matter said that BYD, the Chinese electric vehicle leader, has slowed down its production and growth pace by reducing shifts in some factories in China. It also delayed plans to add more production lines. These decisions could be a sign of BYD's sales growth slowing down, even though it has offered deep price reductions in China's fierce auto market. BYD has reduced production by at least one third at its factories and cancelled night shifts, according to sources who declined to name themselves because it is a private matter. One person said that BYD also...

The London Metal Exchange (LME) and Shanghai Futures Exchange (SFE) saw copper prices rise on Wednesday. This was due to a weaker dollar and an apparent ceasefire between Iran & Israel. As of 0701 GMT the LME's three-month contract for copper increased by 0.6%, to $9,728.5 a metric ton. The SHFE's most-traded contract for copper also rose by 0.47%, to 78,810 Yuan ($10990.56). Israel has said it will take strong action against Iranian missiles that were launched after U.S. president Donald Trump declared an end to hostilities. The U.S. Federal Reserve chair Jerome Powell has said nothing about the interest...

Tesla's European new car sales fell by 27.9% from a year ago in May, even though sales of fully-electric vehicles in the region jumped by 27.2%. The revised Model Y has yet to show any signs of reviving Tesla's fortunes. The European Automobile Manufacturers Association's (ACEA) data showed that overall car sales in Europe increased by 1.9%. Plug-in hybrids grew the most, followed by cars using alternative fuels. Why it's important Tesla's European Sales have fallen for the fifth consecutive month as customers opt for cheaper Chinese EVs, and in some cases protest against Elon Musk. Tesla's European Market Share...

The Nikkei share index ended Wednesday at a record high of more than four months, as stocks related to chips followed the overnight gains made by their U.S. counterparts. After a flitting back and forth between modest gains, the Nikkei closed at 38,942.07 - its highest level since February 19. The Topix index as a whole rose 0.03% to 2,782.24 Shigetoshi kamada is the general manager of the research department at Tachibana Securities. He said that the Nikkei fluctuated between gains and losses as investors sought to profit from gains made in the previous session. Investors want to cover short...

Tesla's European new car sales fell by 27.9% from a year ago in May, even though sales of fully-electric vehicles in the region grew by 27.2%. The revised Model Y has yet to show any signs of reviving Tesla's fortunes. The European Automobile Manufacturers Association's (ACEA) data showed that overall car sales in Europe increased by 1.9%. Plug-in hybrids and alternative fuel cars saw the biggest growth. Why it's important Tesla's European Sales have fallen for the fifth consecutive month as customers opt for cheaper Chinese EVs, and in some cases protest against Elon Musk. Tesla's European Market Share dropped...

The London Metal Exchange and Shanghai Futures Exchange saw copper prices rise on Wednesday. This was due to a weaker dollar and an improved risk outlook, as a result of a tentative ceasefire agreement between Iran and Israel. As of 0101 GMT the three-month copper contract at the London Metal Exchange rose 0.18% to $9,686 a metric ton. The most traded copper contract at the Shanghai Futures Exchange remained unchanged at 78480 yuan (10,945.45) per ton. Israel has said it will take strong action against Iranian missile attacks that followed after U.S. president Donald Trump announced the end of hostilities....

The British government will impose trade limits on steel that are more restrictive than anticipated, restricting imports from Vietnam and South Korea, as well as Algeria, to protect its domestic supply against the effects of a trade war. Britain is trying to protect its domestic steel industry from an oversupply in the global market. It has taken a number of measures to help it. These include negotiating the removal U.S. Tariffs, which are yet to take full effect, and taking control of British Steel, to stop it from closing down. The global trade upheaval caused by Trump's tariffs, and the...

Canada's main index of stocks edged up on Tuesday, after U.S. president Donald Trump announced that a ceasefire would be declared between Iran and Israel. However, losses in the heavyweight mining sector kept gains at bay. The S&P/TSX composite index increased 0.3% to 26,686.38. The truce remained fragile, however, as Trump accused both countries of violating their ceasefire agreement. Israel admitted that it struck Iran's radar as a retaliation to Iranian missile launches, but claimed that it had not carried out any further attacks. Tehran has denied accusations that it violated the truce. Josh Sheluk is the portfolio manager of...