Latest News
-
Colorado firebombing suspect pleads to all charges in state court
The man accused of hurling gasoline bombs at a pro Israel rally in Boulder, Colorado last year, killing one person and injuring a dozen others, pleaded guilty to all the charges in state court on Thursday. Mohamed Soliman (46), an Egyptian, the fire-bombing suspect entered a plea on dozens of felonies, including first degree murder under two different definitions of the crime, which each carry a life sentence in prison, without parole. Soliman was to be sentenced after a short recess. He spoke through an Arabic translator, answering "guilty", to each charge read by the Boulder County District Court Judge. Soliman was charged with a total 184 counts stemming from the attack on June 1, 2025. These included multiple charges of murder and attempted murder as well as assault, criminal use of explosives, and incendiary and explosive devices. Soliman, according to court documents from both the prosecution and defense, threw two Molotov Cocktails at a crowd of people participating in a "peaceful" rally organized in downtown Boulder to bring attention to the plight Israeli hostages taken by Hamas militants?from Gaza?on October 7, 2023. Soliman, according to prosecutors, also used a'makeshift blowtorch' made from a commercial weed-sprayer during his attack. He yelled 'Free Palestine!'as the gasoline bombs that he hurled at the crowd burst into flames. Authorities identified 29 victims. Some were burnt or injured while fleeing, or 'close enough to be considered as 'targets of attempted homicide. Karen Diamond, aged 82, succumbed to her injuries in the following month. Reporting by Steve Gorman, Los Angeles. Editing by Chizu nomiyama and David Gregorio.
-
Gold gains continue as US-Iran hopes for peace ease inflation concerns
Gold rose for the third session in a row on Thursday. This was aided by a growing?optimism about a?peace?agreement between the United States. The emergence of a peace?agreement between the?U.S. and Iran has helped to ease concerns about inflation, as well as the possibility of higher interest rates for extending time. As of 11.50 am EDT (1550 GMT), spot gold had risen 1%, to $4,733.59 an ounce. This was after the metal reached a peak for two weeks earlier in session. U.S. Gold Futures increased 1.1% to $4.744.00. Bob Haberkorn is a senior market strategist with RJO Futures. He said that if the ceasefire held, he could see gold reaching $5,000/oz. The market is focusing on the Middle East situation and the direction that the U.S. Federal Reserve will be taking. Sources and officials have said that the United States and Iran were moving toward a temporary truce to end?their conflict.? Tehran is reviewing a plan which would stop the war but leave unresolved the most controversial issues. The oil prices continued to fall on the hope that an agreement could lead to a gradual opening of the Strait of Hormuz. Inflation is often a result of rising energy costs. In this scenario, policymakers might be less likely to reduce interest rates in order to contain the price pressures. Gold, despite its role as a hedge against inflation, becomes less appealing in a high-rate environment since it has no yield. In a recent note, TD Securities stated that there is a path for gold to rise above $5,200/oz once the oil-driven 'inflation' and conflict pressures subside. It added that "a later pivot towards the Fed's mandate of maximum employment, lower yields, and a softening U.S. Dollar,?plus renewed central-bank and investor demand,?could reignite the bull trend." The markets await the U.S. monthly employment report this Friday to determine how the Fed plans to move forward with its monetary policy in 2019. Data showed that China's central bank piled up gold in April for the 18th consecutive month. Silver spot rose 4.5%, to $80.82, its highest level since April 17. Palladium dropped 1.5%, to $1,514,08, while platinum fell 0.6%, at $2,047.79. Ashitha Shivprasad, Bengaluru (reporting) and Barbara Lewis (editing).
-
The WTO has agreed that 19 countries, including the US, will not impose any duties on electronic commerce
A document revealed that the U.S. and more than a dozen countries, including Japan, South Korea Singapore, and Australia, launched their own pact on Thursday to 'not impose duty' on e-commerce, after Brazil failed to reach an agreement to resolve the deadlock. Brazil opposed an extension to a global agreement at World Trade Organization discussions. The WTO's role in setting global trade regulations suffered another blow when it failed to renew a long-standing moratorium on duties for streaming and downloading across borders at a WTO high-level meeting in Yaounde (Cameroon) in March. The moratorium was agreed in 1998, and has been renewed every year since. It bars the?duties for cross-border electronic transmissions, such as streaming music or films, and?downloading of software. WTO members with large economies, including the U.S. and the European Union as well as Canada and Japan, argue that it predictability global digital trade, and wants it to be permanent. The pact was announced on Thursday by 19 countries including the U.S.A, Japan, South Korea?, Australia, Norway, and Argentina. They agreed to not impose any duties on electronic transmissions for an unknown period. The final text confirms that it will come into force on 8 May, while expressing disappointment over the failure of the multilateral moratorium. The document, dated May 7, stated that "this group of members remains 'committed to doing what we can to give businesses and consumers an?amount of predictability and certainty" in the absence of a?multilateral E-Commerce moratorium. The document invited the other parties to sign on. Reporting by Olivia Le Poidevin, Editing by Alex Richardson
-
US Energy Secretary: Iran reduces oil production by 400,000 barrels per day
U.S. Energy Secretary Chris Wright stated on 'Thursday' that Iran has reduced its oil production by about 400,000 barrels per day and will likely reduce it further as the storage units fill up. It looks like they have already reduced their production by maybe 400,000 barrels per day. Wright told Fox News that?they'll continue to ramp down production as their storage fills up and they are unable to export oil. Shipping data and analysts say that a U.S. navy blockade against Iranian ports has slowed down Tehran's oil production, leaving a growing stockpile on tankers, as Iranian storage facilities are running out of room. Only a few carriers with Iranian crude left the Gulf of Oman from April 13 to 25, according to oil analytics company Vortexa. This is down by over 80% compared to a 'comparable time period in March when Iran exported 23.44?million barrels. Wright stated that the Iranians would be motivated to complete the goal everyone knows they're aiming for, namely, to stop the Iranian nuclear program, and to restore the flow of traffic through the Straits of Hormuz. The day will come. "The question is whether Iran will cooperate or not." Reporting by Doina chiacu
-
Serbian president rejects local bid to purchase NIS oil company
Serbia won't allow a newly formed 'local company' to buy a majority stake in its Russian owned NIS oil firm, said President Aleksandar Vucic on Thursday. KFT Senator Treasury G.T.7 Two LLC, run by Ranko Mimovic and founded in August last year, said Wednesday it had offered to buy a 51.16 percent stake?in NIS for 2.35 billion euros. The bid would be a challenge for Hungary's MOL, which is negotiating to buy a majority stake of NIS. This purchase is a condition that the United States must meet before lifting sanctions against the company operating Serbia's only oil refinery. Vucic, a Belgrade-based reporter, told reporters that "Mimovic has never worked with crude oil processing in his entire life. Now he is going to purchase it (NIS).... Serbia will not allow it." Last October, the Office of Foreign Assets Control of the U.S. Treasury imposed sanctions on NIS as part of broader measures against Russia for its war in Ukraine. They also demanded that the Russian companies divest their shares. Gazprom said in a statement released on Wednesday that it is actively preparing to sell its stake in NIS and was not engaged in negotiations with anyone else. Gazprom owns a stake of 11.3% in NIS while Gazprom Neft holds 44.9%. The?Serbian Government owns 29.9% of NIS, while the rest is owned by employees and small shareholders.
-
Sources say that CME wants to revive uranium futures trading by launching physical futures,
CME Group is planning to launch a physically-based uranium futures contract in the next few months. This'move' could attract institutional money into the 'thinly traded, opaque market. Investors are increasingly interested in nuclear fuel as they expect new reactors to be built for climate targets or data centres that consume a lot of energy. John Perdew is the co-head for nuclear fuels at TP ICAP. There's a great deal of interest in uranium. A lot of capital is looking into it. There is a contract for futures, but only 350 lots are open and it has four prices per month. "That's not what (investors want)." CME refused to confirm this move, but stated: "We always talk to our clients to better understand their needs." Perdew stated that the new contract will see uranium stored at ConverDyn. This is one of only a few facilities that are?licensed for the storage of metal. The CME contract uses U3O8 (yellowcake), which is relatively low in?radiation but tightly controlled because enriched uranium can be used to make nuclear weapons. Lack of Price Transparency Investors are re-engaging in uranium after the price spikes caused by the wars in Ukraine, Iran and elsewhere. However, the lack of transparency on prices and exchange traded instruments has deterred many. CME, world's biggest derivatives market, price its existing uranium contracts weekly via consultancy UxC. An industry source, who declined to identify themselves before an announcement, said that the second contract would be run simultaneously. Like other physical metals like copper, the new contract's price will be based on the buying and selling futures. LSEG data shows that the current LME uranium contract is not trading since February 19. Joe Kelly, CEO at Uranium Markets in Greenwich (Connecticut), expects the new contract to come out this quarter or next. "Everyone in uranium knows each other and we are actually fine trading with one another. He said that while we are able to accomplish what we need, we will be looking at this new contract with a fresh set of eyes. Perdew stated that TP ICAP - the world's largest broker - resumed uranium trading in March partly because of a recent surge in inquiries from funds. Mercuria, a major commodity house, became the first to start physical trading of uranium in September. Mercuria competes against Goldman Sachs, Macquarie and other banks that have been operating in this market for years. It is worth $15 billion per year. The World Nuclear Association stated in September that the demand for fuel to power nuclear reactors will more than double by the year 2040.
-
Oil prices continue to fall as stocks are mixed amid hopes for a US-Iran peace agreement
Oil prices fell again on Thursday, despite optimism about a U.S. Iran peace deal. The fate of the Strait of Hormuz, a critical waterway in the Middle East region, remained unclear. Wall Street's previous session record highs largely held even if the major indexes were mixed. The S&P 500 was barely changed. The Nasdaq Composite gained 0.57% and the Dow Jones Industrial Average dropped 0.36%. Sources and officials reported on Thursday that the United States and Iran were moving toward a temporary, limited agreement to end their war. The draft framework would put an end to the fighting, but leave unresolved the most controversial issues. The STOXX Europe 600 index fell 0.8% after gaining 2.2% on Tuesday, while MSCI’s broadest Asia-Pacific share index outside Japan reached a new all-time record. The?last was up 1.75 %. Japan's Nikkei surpassed 62,000 for a first time after trading resumed following a long holiday weekend. Samy Chaar, Chief Economist at Lombard Odier, said that while the Middle East situation is uncertain, "the market has taken notice of this momentum" as it's going in a positive direction. He said: "The oil price has dropped from its peak, which is good news for the equity market and helps to move currencies a little bit. Chaar said that a strong earnings season, coupled with a macroeconomic climate that was relatively robust, contributed to the positive mood in the market. MSCI's All-Country World Index increased by 0.3%, trading near record highs. OIL UNDER $97 PER BARREL Brent crude fell 4.6%, to $96.62 per barrel. It had fallen?nearly 8 percent on Wednesday. Brent oil is still 40% higher than it was in late February, when the conflict started, despite the recent drop. Meanwhile, 10-year Treasury yields are surging, a sign of the pressure that high energy prices continue to place on the world economy. The 10-year Treasury yields fell by 1.6 basis point to 4.338% on the day. Nick Twidale is the chief market strategist for ATFX Global. He said that market participants were grappling with execution risks, "both as to whether or not a deal was finalized and how quickly disruptions in flows would be normalized even if they are." In March, the global market was shook by a spike in oil prices. However, a fragile ceasefire has led to a rally that is fueled by strong earnings reports from tech companies. S&P COMPANIES set for ROBUST PROFIT GREENWARD S&P '500 companies are on course for their highest profit growth in over four years. Meanwhile, Samsung, SK Hynix, and TSMC, have blown out results that have reinforced the 'upbeat tone' in Asia. Manish Kabra is a Market Strategist at Societe Generale. He wrote a client note Thursday that "U.S. Earnings confirm a broad profit boom - record EPS (earnings-per-share) beats, high margins for the first time in history, and sharply improved '26 growth expectation." A survey of economists indicates that investors are eagerly awaiting the U.S. Non-farm Payrolls Report on Friday. The report is expected to show that jobs increased by 62,000 in April after recovering 178,000 from March. The euro was last seen at $1.1771 on the currency market. Sterling rose to $1.3616, as UK local election?came in focus. The dollar index measures the currency of?U.S. The dollar index, which measures the?U.S. After recent spikes, market speculation suggested that Tokyo intervened in support of the battered currency. The yen was unchanged at 156.35 to the dollar after hitting a 10-week-high of 155.25 on Wednesday.
-
US construction spending increases in March
U.S. Construction spending rebounded during March, thanks to a surge of single-family homes. However, higher mortgage rates may limit future gains. Census Bureau of the Commerce Department?said?on?Thursday? that construction spending rose by 0.6%, after falling by 0.2% in February. The economists polled had predicted that construction spending would increase by 0.2% in March. Construction spending increased 1.6% in March on an annual basis. The Census Bureau is now releasing construction spending data after the delays caused by last year's federal government shutdown. The increase in private construction spending in March was 0.8%, after falling by 0.2% in February. Residential construction investment grew 1.7% in March after declining 0.1% in the previous month. Spending on single-family housing projects increased by 2.7%. Inflation is a result of the U.S./Israeli war against Iran, which keeps mortgage rates high. Tariffs are also a factor in the higher costs for builders. Residential investment has fallen for five consecutive quarters. The spending on multi-family housing units, which make up a small part of the housing market in March, increased by 0.3%. In March, spending on non-residential private structures like offices and factories fell by 0.2%. The spending on non-residential buildings has been declining for nine quarters in a row, which is the longest stretch of time on record. After falling by?0.3% in January, investment in public construction projects fell 0.2% in March. In March, state and local government construction expenditures fell 0.1% while federal government spending dropped 2.6%. Lucia Mutikani, Paul Simao and Paul Simao are responsible for reporting.
US sanctions Iraq's deputy Oil Minister and militias for Iran support
Treasury Department: The United States sanctioned?Iraq’s deputy 'oil minister? and militias on Thursday for their support of Iran.
The Treasury Department accused Iraqi deputy minister Ali Maarij Al-Bahadly, of abusing his "position to facilitate the diversion" of oil for sale to the Iranian regime and their proxy militias in Iraq.
The deputy oil minister and the Iraqi oil ministry did not respond to requests for comment.
Hayan Abdel Ghani, Iraq's Oil Minister in March, said that Iranian oil tankers stopped by U.S. Forces in the Gulf used forged Iraqi papers. ?Tehran denied using such documents.
The United States and Iran are moving toward a temporary ceasefire agreement, while Tehran is reviewing a proposal to stop the fighting but leave unresolved the most controversial issues.
It also said that the U.S. Treasury sanctioned three senior?leaders? of Iran-aligned militas Kata'ib Sayyid Al-Shuhada, and Asa'ib Ahl Al-Haq.
Treasury Secretary Scott Bessent stated in a press release that "Treasury won't stand by while Iran's military exploits Iraqi crude oil to?fund terrorist activities against the United States or?our partners."
The U.S. assets of those?targeted are frozen and Americans are generally prohibited from dealing with them. The sanctions freeze the assets of those who are?targeted, and Americans are generally prohibited from dealing with them.
(source: Reuters)