United States

Elon Musk, the U.S. The Securities and Exchange Commission (SEC) defended its?settlement regarding Elon Musk's purchase of Twitter shares by saying that it reflected compromises and wasn't tainted with collusion after the judge over the case stated the accord raised "red-flags." Musk described the settlement as a fair, reasonable and adequate resolution in which "each party gave up something and gained something," according a filing made Monday night at the Washington, D.C. federal court. The SEC said in a separate filing that Musk could publicly deny the accusations. This reflects a recent policy change governing defendants who resolve enforcement actions....

Ship tracking estimates revealed on Monday that U.S. crude oil exports reached a record of?5.6m barrels per day during May, as the Middle East Crisis boosted demand from Asian and European refiners for U.S. oil. U.S. and Israel's war against Iran caused the biggest ever disruption in the global energy market, with refiners scrambling to find alternatives to Middle Eastern supplies. The Strait of Hormuz is the conduit for a fifth of all oil and gas in the world. A key waterway was effectively shut down when the war began at the end February. According to Kpler data and analytics,...

Summit Therapeutics shares rose up to 7% before bell ringing?after its ivonescimab treatment with China-based Akeso helped advanced lung cancer patients?live 15% longer than BeOne Medicines Tevimbra immunotherapy. Late-stage trial results revealed that in a head to head study conducted in China, patients with advanced non-small-cell lung cancer squamous who were treated with ivonescimab, chemotherapy and Tevimbra lived on average 27.9 months compared to 23.7 months when they received Tevimbra, chemotherapy and Tevimbra. Tyler Van Buren, TD Cowen's analyst, said: "This is a significant advancement in a situation?where other treatments have never found success." Ivonescimab belongs to a class of...

The Russian President Vladimir Putin will host his fifth conference on wartime economics in St. Petersburg. His government is struggling to find a growth strategy, as the?Ukrainian attacks on the economy are hitting the economy. Businesses also see no end to this war. The $3 trillion economy of Russia, which is heavily dependent on commodities, shrank to 0.2% growth in the first quarter 2026 from 4.9% in 2024. Officials blamed high interest rates, Western sanctions and a strong ruble. The growth rate is expected to be a modest 0.4% in 2018. The Ukrainian drone attacks on Russian refineries, fertiliser factories...

Jarle Roth, a member of the board at Equinor's Norwegian oil group, was voted by its nomination committee as the?new chairman after Jon Erik Reinhardsen announced his decision to step down. Reinhardsen has been the chairman of the board since nearly a decade. He has overseen a push to expand into low-carbon and renewable businesses. This expansion has slowed down in recent years due to rising costs, concerns about energy security and U.S. headwinds. Equinor issued a statement in which it said that Jon Erik Reinhardsen - who has been the chair of the Board since 2017 - would like...

Jeffrey Schmid, President of the Federal Reserve Bank of Kansas City, said that the already high levels of inflation make it difficult to assume that the current energy shock will only have a temporary effect on prices and can be ignored. "My main concern is the inflation which has been too high and above target for a long time," Schmid stated in a text of a talk to be given before a conference held in Iceland. I place little weight on the assumption that the recent rise in prices will be temporary within a reasonable time frame. As such, "my...

VCI, the German chemicals lobby, said on Friday that the first-quarter production, sales, and prices all fell. The sector is also facing a lack of optimism due to the 'increase in energy, raw materials, and transportation costs linked to the Iran war. Chemicals, including pharmaceuticals, saw a 6% decline in production figures for the quarter. VCI reported that producer prices dropped by 1%, and sales fell 5.4% compared to a year earlier. Third-largest industrial sector in Europe's economic powerhouse, Germany, can be seen to be a barometer for the region's economy. It produces components that are used across industries ranging...

The U.S. announced on Thursday that it had imposed 'new sanctions' on the?Irani military oil trade. Washington and Tehran have reached an agreement to extend the ceasefire and remove restrictions on shipping in and out of the Strait of Hormuz. Treasury Department announced that it sanctioned eight vessels transporting Iranian crude and petroleum products to international markets. The eight vessels were the Flora oil tanker, flagged by the Marshall Islands; the Hauncayo crude oil tanker, flagged by the Comoros; and the Ill Gap tanker, flagged with the Panamanian flag. Treasury Secretary Scott Bessent stated in a press release that "we...

EU foreign ministers warned on Thursday that Russia would not be able to choose who represented Europe in any future talks with Moscow about Ukraine. The bloc's chief of foreign policy also said that Moscow showed no real interest for peace. The?ministers? met informally on Cyprus to discuss their strategy towards Russia, as Kyiv calls for greater European involvement in order to end the conflict while the U.S. is focused on the Iran crisis. The Kremlin told the RIA News Agency on Wednesday that Russian President Vladimir Putin was open to talks with Europe. Meanwhile, Ukrainian President Volodymyr Zelenskiy has...

Donald Trump, the U.S. president, said on Wednesday that he is 'not yet satisfied with a deal reached with Iran.' He also added that the U.S. The United States is not 'discussing' easing sanctions against Iran. Trump told reporters that Iran is open to a deal at a White House cabinet meeting. "Iran has a very strong desire to reach a deal. They haven't reached a deal yet... but we won't be. Trump said that we?will either be that or finish the job. He said that under the potential framework agreement?with Tehran that the Strait?of?Hormuz will open immediately, but it...

Exxon Mobil's shareholders approved its plan to relocate to Texas on Wednesday, marking a victory for the U.S. top oil producer. Two leading proxy advisory firms had advised investors to reject the proposal. Oil producer is incorporated under New Jersey law, but company headquarters are in Texas. The company said that moving its legal residence to the state made sense and was more logical for the business. Other companies have also recently moved their operations to Texas, including SpaceX and Tesla. Texas law passed last year improved legal protections in many ways. One of them was allowing businesses to set...

U.S. president?Donald Trump said on 'Monday that it should be mandatory for all countries, including Qatar, Pakistan and Egypt, Jordan, and Turkey, to sign the Abraham Accords en bloc as part?of a?effort to reach a?deal with Iran. Trump said he spoke to the leaders of these countries on Saturday, along with Saudi Arabia, Bahrain and Egypt, which has already signed the Abraham Accords. Trump said in a post posted on Truth?Social that it was "mandatory" that at least all these countries sign the Abraham Accords simultaneously. He said that these countries would be honored to have Iran included in the...

Gold prices rose by 1% on Tuesday, boosted by lower U.S. Treasury yields. Meanwhile, oil prices fell, easing fears of rising inflation and interest rates. By 1136 GMT, spot gold had risen 1% to $4,526.7 per ounce. U.S. gold for August delivery rose 1.2% to $4,58.60. After U.S. president Donald Trump announced that talks with Iran are ongoing, oil prices dropped. Lower fuel prices reduce inflation fears and may also help to reduce bets on higher interest rates. Gold is traditionally viewed as a hedge to inflation. However, in an environment of high interest rates it loses its appeal as...

Gold prices rose by more than 1% on Tuesday as a result of lower U.S. Treasury yields. Meanwhile, oil prices fell, easing fears about higher interest rates and inflation. By 0900 GMT, spot gold had risen 1% to $4,525.72 per ounce. U.S. Gold Futures for August Delivery rose 1.1% to $4,556. Oil prices dropped after U.S. president Donald Trump announced that talks with Iran are ongoing. Lower fuel prices reduce inflation fears and bets on higher interest rates. Gold is traditionally viewed as a "hedge" against inflation. However, in an environment of high interest rates it becomes less attractive as...

Gold prices rose on Tuesday due to a decrease in Treasury yields, as well as a partial ceasefire between Hezbollah, Israel and Hezbollah. Investors waited for more information on the U.S. Iran peace talks, despite conflicting reports. Gold spot rose by 1.1% at $4,532.74 an ounce as of 0731 GMT. U.S. Gold Futures for August Delivery gained 1.3%, reaching $4,562.90. Gold prices are rising due to the ceasefire agreement between Hezbollah and Israel, said GoldSilver Central's Managing Director Brian Lan. He added that lower Treasury yields also helped the metal. The yield on the benchmark U.S. Treasury 10-year note has...

Gold prices rose on Tuesday due to a decrease in Treasury yields, as well as a partial ceasefire between Hezbollah, Israel and Hezbollah. Investors awaited more details about the U.S. Iran peace talks, despite conflicting reports. By 0556 GMT, spot gold had risen 0.8% to $4,517.33 per ounce. U.S. gold for August delivery rose 0.9% to $4,47.80. GoldSilver Central's Managing Director Brian Lan said, "It appears that the ceasefire between Israel and Hezbollah has led to a slight increase in gold prices." He added that lower Treasury yields had also helped the metal. The yield on the benchmark U.S. Treasury...

Gold prices edged up a bit on Tuesday due to lower Treasury yields, a partial ceasefire between Hezbollah, and Israel. Investors waited for more details about the U.S. Iran peace talks, despite conflicting reports. By 0420 GMT, spot gold had risen 0.5% to $4,507.56 per ounce. U.S. Gold Futures for August Delivery rose 0.7% to $4,539. Gold prices are rising due to the ceasefire agreement between Hezbollah and Israel, said GoldSilver Central's Managing Director Brian Lan. He added that lower Treasury yields also helped the metal. The yield on the benchmark 10-year U.S. Treasury Note ticked down, reducing the cost...

U.S. Construction spending in April increased more than anticipated, thanks to the single-family homebuilding boom. However, rising mortgage rates due to the war with Iran continue cast a shadow on?the housing markets. Census Bureau of the Commerce Department announced?on Monday? that construction expenditures rose 0.4% following a downwardly-revised 0.2% rise in March. Economists surveyed by predicted construction spending would gain 0.2% following a previously reported rise of 0.6% in March. In April, construction spending rose 0.9% year-over-year. Spending on private construction projects increased by 0.4% in April after increasing by 0.2% the previous month. After a 0.6% increase in March,...

As renewed U.S. - Iran tensions increased, the dollar and oil price rose. This fueled fears of inflation as well as a longer-term outlook for higher interest rates. Gold spot was down by 0.8% to $4,498.89 an ounce as of 0909 GMT. It had hit a record high two weeks earlier. The yellow metal fell 0.9% in the month of May, marking its fourth consecutive monthly decline. U.S. gold futures for August delivery dropped 1.4% to $4,529.90. Dollars are now more expensive for holders of other currencies. The U.S. claimed it had struck Iranian military bases over the weekend, and...

Syrah Resource, an Australian company, said that Tesla had withdrawn its notice of intent to terminate the?graphite deal. This ended a long process of negotiation in which both companies extended a deadline for resolution four times. Syrah planned to provide 8,000 metric tonnes of graphite-anode materials over a period of four years from its Vidalia facility in the United States. The 2021 contract covers the state of Louisiana. The Vidalia plant is the only large-scale vertically integrated producer of anode material outside China. This helps reduce U.S. dependence on Chinese supplies that dominate the market. The market is dominated by...

Four people familiar with U.S. negotiating positions said that the Trump administration wanted to increase the'regional content' in North American built vehicles to 82% in order to qualify for preferential trade treatment under the U.S. Mexico Canada Agreement. In the expansive demand that was unveiled at the Mexico City negotiations this week between the United States and Mexico, no parts content from Canada is included in the totals. The sources claim that Canada was not present at the Mexico City negotiations. If accepted, the shift would be a major departure from the USMCA which currently requires that 40% of "core...

Gold prices rose?on Friday, fueled by hopes of a possible U.S. Iran ceasefire. However, they were on course for their third consecutive monthly decline due to concerns over energy-driven inflation. As of 1005 GMT, spot gold was up by 0.8% to $4,528.19 an ounce. On Thursday, gold fell to its lowest level in two months, $4,365.76, but ended higher. Metal prices have fallen by 2% so far this month. U.S. Gold Futures for August Delivery rose 0.6% to $4,59.10. Gold remains negatively correlated to oil, which impacts on inflation and monetary policy. "Gold is positively correlated with lower oil prices,...

Shanghai copper prices rose on Friday as hopes for a U.S. Iran peace deal pushed the oil price?and dollar lower. This eased fears of higher inflation, and a global slowdown. As of 0324 GMT, the most traded copper contract on the Shanghai Futures Exchange had risen?0.8% to 104,900 Yuan ($15472.55). The contract has increased by 3.7% this month. The price of three-month copper at the London Metal Exchange remained unchanged at $13,699 per metric ton. Both contracts rose for the second consecutive month. Sources told? that the United States and Iran had reached an agreement on Thursday to extend their...

Gold prices rose over 1% on Thursday after hitting a two-month low earlier in the session. The U.S. Dollar and oil prices also eased as a result of the news that Iran and the U.S. had agreed to a ceasefire agreement. Gold spot was up 1.1% to $4,504.07 an ounce at 1:31 pm EDT (1731 GMT) after it fell to its lowest price since late March. U.S. Gold Futures closed 1.1% higher, at $4,532.40. According to a source with knowledge of the situation, the U.S. and Iran have reached an agreement on a 60 day ceasefire extension. However, President Donald...