United States

Rescuers spent the night on Friday searching for thousands of missing Venezuelans and hundreds trapped under rubble after two of the largest earthquakes to hit Latin America in modern history shook areas around Caracas. The government did not provide a total estimate of casualties from the magnitude 7.2 to 7.5 earthquakes that struck 160 km (100 mi) west of Caracas, on Wednesday. The U.S. Geological Survey predicts more than 10,000 deaths. A website designed to track missing persons and shared by leaders of the opposition in the politically polarized country listed more than 49.600 people who were unaccounted for. The...

The oil prices dropped on Friday morning, and are headed for steep losses this week amid easing supply concerns. More oil tankers have left the Strait of Hormuz as stranded vessels leave. Brent crude futures dropped 19 cents or 0.25% to $75.07 per barrel at 0055 GMT. U.S. West Texas Intermediate was down 13 cents or 0.18% to $71.79 per barrel. The benchmark contracts both rose more than 2% after an unknown projectile hit a cargo ship near Oman. This prompted the U.N. shipping agency to suspend their voluntary evacuation scheme. Two U.S. officials said that Iran shot at the...

International Monetary Fund?said Thursday that it had seen energy and commodities prices drop since?the U.S. and Iran agreement to?halt?hostilities and reopen?the Strait of?Hormuz.?But it will take some time for prices to return to normal and Gulf trade to resume. IMF spokesperson Julie Kozack said at a press briefing that the Fund would decide on whether or not to stick with the three growth scenarios that it had presented in April, which were dependent on the outcome of the Iran war. Kozack said that as the Strait of Hormuz was closed in May and benchmark oil prices remained above $100 per...

The Gulf peace may reduce pump prices but it won't solve the Federal Reserve’s biggest problem. That is, a U.S. Economy that was already overheating prior to the Iran War. Oil prices falling to levels seen before the war could spur demand and increase cost of living fears at a crucial time. This sounds like "damned-if-it does, damned-if-it doesn't" dilemma. Normalizing fuel prices may not solve the Fed's dilemma over inflation and interest rates as quickly as President Donald Trump or the Fed would like. The 'inflation debate' before the conflict was ambiguous, as markets sided with the Fed's guidance...

U.S. Secretary Marco Rubio met with the leaders of the United Arab Emirates (UAE) and Kuwait (Kuwait) on Wednesday. He pledged not to undermine the security of these Gulf allies, as he tried to reassure Gulf Allies sceptical about a 'proposed deal' to end the U.S. - Israeli war against Iran. The U.S. and Iran?accord signed last week is the first between American and Iranian Presidents since the?1979 Islamic Revolution. It includes a $300 billion fund proposal and the lifting of certain sanctions against Tehran. Rubio, who arrived in Abu Dhabi, the capital of the UAE late Tuesday night for...

Eleven commodity day traders have offered to donate PS1million ($1.32 million) to a fund for crisis situations as part of a deal that will end a three year investigation by Britain's market regulator into possible violations of competition law. The Financial Conduct Authority announced on Wednesday that it considered the traders' obligations appropriate. This included changing how they handled sensitive information, annual training and a payment likely to exceed any FCA penalty. The traders who mainly traded in?energy futures have proposed to arrange a contribution to Crisis and Resilience Fund. This is a government scheme which?provides financial support to families...

SK Hynix, a South Korean company, said it planned to?raise up to $29.4billion through a U.S. -stock market listing. This would be one of the largest?listings globally. If completed at the top end, the deal would be the second-biggest share sale after a record $85.7 billion initial public offering by SpaceX earlier this month, surpassing Saudi Aramco's $25.6 billion IPO in 2019and Alibaba'ssimilar-sized offering in 2014. The planned listing reflects a strong global appetite for AI linked equities even as volatility rises across U.S. technology and semiconductor markets. This comes after Elon Musk's SpaceX and other record-breaking equity offerings in...

SK Hynix, a South Korean company, said it plans to raise as much as 45.45 trillion won ($29.43billion) through a U.S. IPO. The company is aiming to increase its 'investor base' and 'production capacity for artificial intelligence chips. The listing of American depositary receipts, if completed to the top, would be one of the largest ever in history. It is comparable in size with Saudi Aramco’s IPO scheduled for?2019. Investor and analyst reactions to the latest news: CLSA SENIOR ANALYST SANJEEV RANA "If (SK Hynix can) get a valuation multiple that is similar to Micron for example, the local shares...

United?Nations?Secretary-General Antonio Guterres stated on?Wednesday? that climate adaptation should be treated as an important priority by governments -- and valued appropriately by the financial system. As climate risks increase and funding gaps widen, this must become a top priority. Guterres said that as droughts, flooding and other extreme weather conditions affect communities around the world, adaptation has been chronically underfunded and undervalued. "Finance Ministers, Central Banks, Planning Ministries and Public Investment Authorities must 'treat climate risks as core economic policies in order to mobilize greater domestic resources," said he, urging government to 'incorporate climate risk into everything from fiscal policy...

The Republican-majority U.S. Senate passed legislation Tuesday that would halt U.S. military action against Iran. However, it is not clear what impact it will have on the war while President Donald Trump's Administration negotiates a deal with the Islamic Republic. The Senate voted in favor of a concurrent resolution that was passed by the House of Representatives earlier this month. This reflects a growing concern among Trump's Republicans over the unpopular conflict which began on February 28, despite the majority of Republicans voting for it. Four 'Republicans joined all Democrats except one in voting for the resolution. ?Two Republicans did...

Mark Lashier, CEO of Phillips 66 in the U.S., said 'on Tuesday that it will take some time for crude supplies to pass through the Strait of Hormuz.' This is because there remains uncertainty about a return to normal shipping activity. The Strait of Hormuz continues to be used on a limited scale, which eases immediate concerns about supply and lowers crude prices. Energy companies monitor how quickly crude flow, inventories, and shipping activity returns to normal. Lashier, speaking at a JPMorgan Conference, said that between 90 and 100 million barrels of crude oil remain trapped in this strait. They...

Under the interim agreement to end the war with Iran, the U.S. began lifting some sanctions. However, it will be difficult for any comprehensive agreement to unravel the tangled webs of restrictions that restrict the country's trade and activities. It is for this reason that any attempt to lift the sanctions against Iran may take many years, and foreign investment could be slow to return. WHEN WILL THE SANCTIONS AGAINST IRAN BE RELEASED? Since decades, the U.S. has imposed sanctions, trade 'embargos' and asset freezings on Iran over its nuclear program, human rights record, and support of groups in the...

The Mexican silver miner Sinda raised $213 million in its U.S. initial public offering. Shares of the company fell 10% on their debut at the New York Stock Exchange. Stocks of the San Miguel de Allende, Mexico based company opened at $10.80 each, lower than the $12 offered price. Sinda sold 17,75 million shares within the marketed price range of $11.25 - $13.25 per share. In recent months, a growing number of mining firms have turned to the capital markets to fund their capital-intensive operations and capitalize on the high metal prices. Pricing of the IPO below the middle of...

Gold fell on Friday for a fourth consecutive week, due to the resilient dollar and expectations that U.S. interest rates will be raised faster in order to curb inflation. By 0441 GMT, spot gold had fallen 0.6% to $4.002.77 an ounce. U.S. Gold Futures for August Delivery fell 0.7% to $4017.30. Bullion is on course for a 3.8% loss this week after slipping below $4,000 on Wednesday, the lowest level since November 2025. The rapid repricing by the hawkish Fed created a strong bullish movement in the U.S. Dollar, which led to the significant decline in gold prices, said Kelvin...

Gold prices reversed course and edged up on Thursday, after a U.S. reading of inflation?came in largely line with expectations. This eased some concerns about upcoming Federal Reserve rate increases and pushed the dollar and Treasury yields down. As of 11:12 am EDT (1512 GMT), spot gold rose 0.2% to $4,007.65 per ounce after dropping as much as 1% in earlier sessions. U.S. Gold Futures for August Delivery rose?0.3%, to $4.021.00 an oz. "PCE data appears to have been in line with expectations. David Meger is director of metals at High Ridge Futures. He said that it's a big reason...

Gold dropped for a third straight session on Friday, remaining near the more than seven-month high it reached the previous session as the dollar rose on expectations of a rate hike in the United States. Spot gold dropped 0.5%, to $3.982.49 per ounce at 1054 GMT. ?U.S. Gold futures for August deliveries edged down 0.3% to $3.997.60 an oz. The U.S. Dollar hit its strongest level in over 13 months on Thursday. This made greenback-priced metals more expensive for holders of other currencies. CME FedWatch data shows that 66% of the markets believe that the U.S. Federal Reserve is likely...

Gold prices are steady?on Friday?but remain near the seven-month low reached in the previous session as the expectation of interest rate increases in the U.S. weighs on the precious metal. As of 0843 GMT, spot gold remained at $3,999.33 an ounce. U.S. gold futures for August delivery slipped 0.2% to $4,014.90/oz. CME FedWatch data showed that the markets currently believe there is a 66% probability?that rates will be raised by the U.S. Federal Reserve in September. Nikos Tzabouras is a senior market analyst at Jefferies' Tradu.com. ETF outflows and the rotation to equities fueled by the AI boom, are factors...

On Wednesday, spot gold prices fell below the psychologically important?level? of $4,000 an ounce for the first time since 2025. This was due to a stronger U.S. dollar and growing expectations that interest rates would remain high. Dollar-priced gold is now more expensive to holders of other currencies. After the U.S. Central Bank struck a hawkish tone at its most recent policy meeting, traders have increased their bets that interest rates will rise in the U.S. this year. They also continue to worry about inflationary pressures due to the Iran War. Tai Wong, an independently-owned metals trader said that the...

Lingyi iTech, a Chinese company, priced its Hong Kong IPO at HK$10.18 ($1.06bn), allowing it to raise HK$8.3bn ($1.06bn), which will be used in part to expand its AI capabilities. Apple's supplier is aiming to capitalize on the rising demand for AI computing and advanced equipment. In its prospectus, it stated that approximately 37.6%, or about HK$3,07 billion, of the IPO proceeds would be used to upgrade core manufacturing processes and increase production capacity. The next three years will see a total of?HK$1,71 billion invested in the manufacturing of high-density AI server, humanoid robotic hardware and AI optical communications infrastructure....

China announced Wednesday plans to create a 'whistleblower hotline' that will encourage citizens to report the smuggling?of restricted?critical minerals. Beijing is continuing its crackdown against a sector which has given it so much diplomatic leverage. The Ministry of Commerce will reward organisations and individuals who report violations of export controls, such as transshipment. Callers must call during normal business hours. The hotline is closed for 2.5 hours over lunch. You can also submit information?via a?form online. China processed the majority of rare earths in the world and used its production control to great diplomatic advantage during the U.S. trade war....

Investors weighed conflicting signals about U.S. peace talks with Iran as they assessed the varying signals from U.S. and Iran. Gold spot fell 0.7%, to $4,081.24 an ounce, at 0751 GMT. It had earlier fallen to its lowest level since June 11. U.S. Gold Futures for August Delivery declined by 1.2% to $4.098.70. Donald Trump, the U.S. president, said on Tuesday that Iran agreed to nuclear inspections in "infinity" while Tehran claimed it had not made such a concession during negotiations. This raises questions about whether their fragile peace agreement will survive. Both sides disagreed over the details of a...

Investors weighed conflicting signals about the U.S. - Iran peace talks as they assessed rising bets that U.S. interest rates would rise. Gold spot fell 0.5% at 0609 GMT to $4,088.97 an ounce, after hitting its lowest level since June 11. U.S. gold for August delivery fell 1% to $4106.30. Donald Trump, the U.S. president, said on Tuesday that Iran agreed to nuclear inspections indefinitely. However Tehran claimed it had not made any such concessions during negotiations. This raises questions about their fragile peace agreement. Both sides disagreed on the specifics of a provision which would give Iran access to...

Gold fell on Wednesday, reaching its lowest level for 'almost two months, as the dollar rose amid rising bets that the U.S. would raise interest rates, and investors analyzed conflicting signals regarding the U.S. Iran peace talks. Gold spot fell 1%, to $4,067.51 an ounce, at 0236 GMT. It had earlier fallen to its lowest level since the 11th of June. U.S. gold contracts for August delivery fell 1.6% to $4.083.90. Donald Trump, the U.S. president, said that Iran agreed to nuclear inspections in "infinity" on Tuesday. Tehran denied this and said they had not made such a concession during...

The?U.S. dollar?hit a one-year high on Tuesday, outweighing support from lower oil prices amid progress in U.S.-Iran talks. Dollar?hit a year-high on expectations of a Federal Reserve interest rate hike. This outweighed support from lower oil prices in light of progress in U.S. Iran talks. By 11:45 am, spot gold had fallen by 1.2% to $4138.79 an ounce. ET (1545 GMT). U.S. Gold Futures for August Delivery fell by 1.1% to $4156.40 an ounce. The U.S. Dollar rose to its highest levels in over a year, making gold more expensive for foreign buyers. Right now, gold and silver don't look...