United States

The media frenzy around Elon Musk's SpaceX's public listing is soaring. This poses a serious threat to investors, especially retail investors. In a large initial public offer, "mom-and-pop" investors receive no more than 10% of the shares, while the majority of the newly listed'shares' are held by?large institutions. This is a good way to protect small investors, as a new launch could fail in the first few days of trading or become volatile in the following weeks and months. The biggest institutions have the ability to handle market volatility and are able to tolerate losses with a high threshold. Retail...

SpaceX's initial public offering in the United States raised $75 billion on Thursday as investors raced to get exposure to Elon Musk’s space?and satellite empire before its highly anticipated Nasdaq début. This is a time line of?SpaceX’s journey towards the blockbuster IPO Elon Musk started SpaceX in March 2002 with money from the sale of PayPal. SpaceX launched its first rocket in March 2006, the Falcon 1. It failed. Falcon 1 is launched successfully in September 2008. It's the first liquid-fuel rocket developed by a private company to reach Earth orbit. SpaceX signs its first major contract in December 2008...

Imperial Oil Canada was fined C$120,000 (85,849.19 USD) after pleading guilty to violating environmental regulations at its 'Kearl Oil Sands' site. According to the Alberta Energy Regulator, following a hearing on May 29, the Canadian oil producer was ordered to pay C$2,000, which included a victim surcharge. They also had to contribute C$118,000 to a creative'sentencing project. In an email, the company said that it has taken steps to prevent this from happening again, including reprogramming of equipment, updating sediment management processes, and increasing inspections. There is no evidence that the overflow of water has had any adverse effects on...

Global trade doesn't cool in the shadow of tariffs, wars on trade, real wars, and energy shocks. It's heating. How durable is it when the price, and not volume, is what's stoking up the flames? Recent trade data, from the U.S., China and other major economies, shows that cross-border commerce has grown at a faster rate than economists expected. In many cases the price increases were the primary cause of increased activity and surprising export figures. This reflects the spike in inflation caused by the Iran War, particularly on the oil and energy markets. This was especially true in the...

Global trade is not cooling in the shadow of tariffs and trade wars. It's heating. How durable is it when the price and not the volume is what's stoking up the flames? Recent trade data from the U.S., China and other major economies show that cross border commerce is growing at a faster rate than economists expected. In many cases the "increased activity" and the "surprisingly strong headline export numbers" were primarily driven by "higher prices". These reflect the spike in inflation caused by the Iran War, particularly on the oil and energy markets. This was especially true in the...

After a flat start, Indian?shares rose on Wednesday, led by Reliance Industries. This was after Meta Platforms announced its first AI-enabled?data centre partnering in India. As of 9:57 a.m. IST, the benchmark?Nifty 50 index rose 0.59% to 23,379.4 while the BSE Sensex increased 0.7% to 74436.6. Reliance rose 2.1% following a Meta announcement that the company would lease a datacenter the Mukesh Ambani?led?company, will build in India. 11 of the 16 largest sectors saw gains. The broader small and mid-caps were flat. The heavyweight financials and the private banks each gained 0.6%. As renewed Middle East hostilities, and expectations of...

Saudi Arabia cut its official'selling prices' (OSPs), for crude oil sold to 'Asia, in July, for a second consecutive month. This was expected, since spot premiums fell on a sluggish demand despite the supply disruptions caused by U.S. - Israeli war against Iran. A document reviewed on Monday by?showed that the July OSP was set at $9.50 per barrel over the average Dubai and Oman quote, which is $6 lower than the OSP in June. The July OSPs of other Saudi grades for Asia fell by $6 per barrel compared to the previous month. The price reduction was in line...

After the war in Iran, companies that have borrowed oil from the U.S. Strategic Petroleum Reserve will receive an 'extra 40 mln barrels - of crude as premiums. Fuel prices have risen since the U.S. and Israel war against Iran began in early February. Wright, however, said that he was not concerned about low stock levels at?the SPR. Wright told Fox Business's "Varney & Company," "I am not concerned because we are not'selling' any barrels of crude oil. We're supplying oil 'to the market 'in the short-term when it is needed, and we trade those barrels." "For every barrel we...

As of Friday, the U.S. designated Brazil's largest criminal groups as "Foreign Terrorist Organizations" (FTOs). This is likely to increase risks and costs of doing business in Brazil where gangs are well-established. Comando Vermelho (CV), and Primeiro Comando da Capital, both of the 'biggest Brazilian crime gangs, began in prisons during the 1970s. Since then, they have grown to dominate drug trafficking in South America and their money laundering operations have spread into the far corners of Brazil’s mainstream economy. Investigators have recently discovered that both groups are deeply embedded in sectors like fuel distribution, real-estate and finance. They also...

In an interview, Bonta said that he would decide soon whether or not to sue Paramount to stop its $110 billion purchase of Warner Bros. He added that he believes corporate pledges to address antitrust issues are 'better' when they are backed by divestitures. Bonta's Office has been evaluating the deal to determine if it violates U.S. Antitrust Law. Movie?theater owners and Hollywood actors have all expressed concern that the deal would reduce competition in the film industry and lead to higher prices, lower wages and fewer choices for consumers and content purchasers. According to a source with knowledge of...

The U.S. House of Representatives approved legislation Thursday that would provide 'aid to Ukraine' and impose new Russian sanctions. This is the latest indication that Republicans are willing defy their party leaders and push back against President Donald Trump. The House passed the Ukraine Support Act 226-195. It had been pending for months. A few Republicans signed a petition with Democrats to force a vote. On Thursday, Democrats and 18 Republicans joined forces with one independent who usually votes along side them to pass the bill. This was the latest indication of a rift in the nearly unanimous support that...

The Trump?administration has agreed to strip endangered species status from a lizard whose range overlaps?the biggest oil-producing area in?the United States. This is a settlement of a lawsuit?brought?by Texas attorney general Ken Paxton. The U.S. The U.S. Fish and Wildlife Service declared the dunes sagebrush-lizard endangered in May 2024 after concluding oil and gas development had rendered the loss of habitat "effectively permanently." The U.S. Justice Department said that the USFS now considers that it made an "important and fundamental" mistake by assuming incorrectly that habitat restoration was impossible and by ignoring experimental efforts which "showed potential", in a court...

Copper prices rose on Friday as hopes of a quick peace agreement between the U.S.A. and Iran eased concerns about a slowing economy and rising inflation. Benchmark 'three-month copper' on the London Metal Exchange gained 1.6%, to $13,704 per metric ton at 0925 GMT. This ended two days of losses which saw copper reach its lowest level in three weeks. The price of copper fell on Thursday, amid the worst violence between Iran and the U.S. since the two sides signed a ceasefire agreement in April. Prices reversed when U.S. president Donald Trump stated that a peace agreement could be...

Gold prices dropped on Friday and were expected to lose money for the week due to concerns about inflation and possible interest rate increases by the U.S. Federal Reserve. As of 0745 GMT the spot gold price was down by 0.7%, at $4,183.19 an ounce. This was a loss of 3.4% for the week. U.S. Gold futures for August deliveries?rose by 2.2% to $4204.40. Gold dropped to a six-month low Thursday, before closing at $4,219.69. This was after U.S. president Donald Trump cancelled planned military strikes against Iran and announced an imminent peace deal. Iran, however, countered by saying that...

Copper prices rose on Friday, amid falling oil prices and optimism that a peace agreement between the U.S.A. and Iran could be close. By 0702 GMT, the?benchmark?three-month contract on the London Metal Exchange had risen 1.44% to $13,676 per metric ton. The Shanghai Futures Exchange's most traded copper contract rose 1.21%, to 104660 yuan (15,474.24) per ton. Donald Trump, the U.S. president, said Thursday that a peace agreement could be signed this weekend and reopening of the Strait of Hormuz could happen. Iran said, however, that no final decision has been made about a possible agreement. Prices of copper have...

Gold prices fell on Friday, and were "on track" to make a loss for the week. This was due to concerns about inflation and possible interest rate increases by the U.S. Federal Reserve. As of 0610 GMT the spot gold price was down by 0.8%, at $4,182.47 an ounce. This was a loss of 3.4% for the week. U.S. Gold Futures for August Delivery rose 2.2% to 4,203.60. Gold dropped to a six-month low before closing at $4,219.69 on Thursday, after U.S. president Donald Trump cancelled planned military strikes?on Iran, and announced an imminent peace agreement. Edward Meir is an...

Gold prices fell on Friday, and were "on track" to make a loss for the week. This was due to concerns about inflation and possible interest rate increases by the U.S. Federal Reserve. As of 0442 GMT spot gold was down by 0.5%, at $4,193.58 an ounce. This was set to be a loss of 3.1% for the week. U.S. Gold Futures for August Delivery rose 2.5% to $ 4,215.30. Gold dropped to a more-than-six month low on Thursday, before closing at $4,219.69 as U.S. president Donald Trump canceled planned military strikes?on Iran, and signalled a forthcoming peace deal. Edward...

Gold prices fell on Friday, and were on track to lose a significant amount of money for the week. This was due to concerns about inflation and possible interest rate increases by the U.S. Federal Reserve. As of 0252 GMT the spot gold price was down 0.5%, at $4,191.17 an ounce. This was a loss of 3.2% for the week. U.S. Gold Futures for August Delivery rose 2.4% to $ 4,212.70. Gold fell to a six-month low before closing at $4,219.69 on Thursday, after U.S. president Donald?Trump cancelled planned military strikes against Iran and announced an imminent peace agreement. Edward...

Investors covered their short positions on Thursday and gold prices rose, rebounding from the?a six-month low. However, concerns about higher inflation rates in the U.S. and rising interest rates have limited gains. Gold spot rose 0.6%, to $4.097.01 an ounce at 836 GMT. It had fallen earlier in the session to its lowest level since November 21, U.S. Gold Futures for August Delivery were down 0.4% to $4,118. Ross Norman, an independent analyst, said that gold is "clearly" oversold right now. It remains to be determined whether or not this is a real recovery of the metal as such or...

Investors?bought? the metal at a bargain price on Thursday as they awaited a crucial U.S. Inflation Report that could influence Federal Reserve policy. Gold spot rose 0.7% by 0741 GMT to $4,103.74 an ounce, after having fallen as low as $4,022.09 per ounce on November 21, earlier in the day. U.S. gold futures for August were down 0.2% to $4,125.10. Matt Simpson, senior analyst at StoneX, said: "With prices hurtling toward $4,000, there's an obvious level of support which could encourage bears to make a quick profit, or tempt battered bulls off the sidelines." The U.S. Dollar Index failed to...

Investors?bought? the metal at bargain prices on Thursday as they awaited a U.S. inflation data that could shed light on Federal Reserve policy. Gold spot rose 0.5%, to $4,095.64 an ounce, by 0558 GMT. It had fallen as low as $4,022.09 per ounce on November 21, earlier in the day. U.S. Gold Futures for August Delivery were down 0.4% to $4,116.20. Matt Simpson, senior analyst at StoneX, said: "With prices soaring towards $4,000 it's a level of support which could encourage bears to make a quick profit or tempt battered Bulls off the sidelines." The U.S. Dollar Index?failed?to gain much...

Investors awaited the release of a key U.S. Inflation Report that could shed light on Federal Reserve policy. Gold spot rose by 0.1%, to $4,077.39 an ounce, at 0429 GMT. It had fallen earlier that day, to its lowest level since November 21, when it was $4,022.09 per ounce. U.S. Gold Futures for August Delivery were down 0.8% to $4,098.90. "Bearishness had?taken a hold of gold and traders are derisking now." Prices are 'hurting towards $4,000 and this is an obvious level of resistance that could encourage bears to take a quick profit or tempt battered Bulls off the sidelines,"...

Short-covering helped gold prices bounce back from a six-month-low on Thursday as investors awaited the key U.S. Inflation report, which could shed light on Fed policy outlook. Gold spot rose 0.4% by 215 GMT to $4,089.12 an ounce, after having fallen as low as $4,022.09 per ounce on November 21 earlier in the day. U.S. gold contracts for August delivery fell?0.5% to $4,111.10. "With prices hurtling toward $4,000, there's an obvious support level that could prompt bears to book a profit quickly or tempt battered Bulls from the sidelines," said Matt Simpson, a senior analysts at StoneX. The US dollar...

Elliott Investment Management, an activist investor, called on Australia's biggest gold miner Northern Star Resources late on Wednesday to restore shareholder value immediately by re-evaluating its board and conducting a formal strategic assessment. They cited severe underperformance. Elliott Investment Management, an activist investor, announced last week that it had acquired a stake of more than A$1 Billion ($700.80 M) in Northern Star Resources. The investor cited severe underperformance and repeated "operational mistakes", including seven missed outlooks over the past four years and a share value that was vastly below its peers. Elliott's call, which was instrumental in convincing BHP to...