Browsing: Business

WASHINGTON: Senior executives from the largest U.S. oil companies have told President Donald Trump that they are not prepared to make firm investment commitments in Venezuela, underscoring continued caution toward the country’s energy sector despite renewed outreach from the White House, according to people familiar with the discussions and public statements from industry leaders. Trump met this week with executives from companies including Chevron, Exxon Mobil and ConocoPhillips, urging them to consider large scale investments to help revive Venezuela’s oil production following recent political changes in the country. The president said expanded output could bolster global oil supply and contribute to lower energy prices, while…

MENA Newswire, SAN FRANCISCO: OpenAI and SoftBank Group announced a joint investment of $1 billion in SB Energy, expanding a large-scale effort to build power and data center infrastructure to support artificial intelligence computing in the United States. The investment forms part of the ongoing Stargate initiative, a multiyear program aimed at developing the physical infrastructure required for advanced AI training and deployment. Under the terms disclosed, OpenAI and SoftBank will each contribute $500 million in equity to SB Energy, a company focused on energy generation, storage, and data center development. SB Energy is majority owned by SoftBank and operates as a standalone…

CryptoWire, LONDON: Global financial markets are navigating renewed turbulence after warnings of a potential $17.3 trillion oil price shock that could reverberate across energy, currency, and digital asset sectors. The alert follows heightened geopolitical tension in South America, where the detention of Venezuelan President Nicolás Maduro by U.S. forces has disrupted expectations for global crude supply and triggered volatility in both commodities and cryptocurrencies. Oil prices fluctuated sharply in early-week trading as markets assessed potential consequences for Venezuela’s oil production and export capacity. As one of the world’s largest proven crude reserve holders and a key OPEC member, Venezuela’s stability is viewed as central to…

MENA Newswire, NEW YORK: Gold prices rose more than 1 percent on Monday, extending their recent gains as all major precious metals recorded strong performances at the start of the week. The rise marked a continuation of bullish momentum in the metals market, with gold reaching its highest level in over a week. Spot gold advanced 1.5 percent to $4,395.35 per ounce as of 01:19 GMT, maintaining its position close to record highs. The metal reached an all-time peak of $4,549.71 per ounce on December 26, 2025. U.S. gold futures for February delivery climbed 1.8 percent to $4,405.40 per ounce in early Monday…

MENA Newswire, NEW YORK, December 30, 2025: Former U.S. Treasury official Geng Ngarmboonanant has cautioned that Americans should be increasingly concerned not only about the country’s rising national debt but also about the shifting composition of those who hold it. In an opinion piece published by the media, Ngarmboonanant, who is now a managing director at JPMorgan Chase & Co. and previously served as deputy chief of staff to Treasury Secretary Janet Yellen, outlined how changes in the profile of U.S. debt holders are affecting borrowing costs and financial stability. Ngarmboonanant said that as the national debt exceeds 38 trillion dollars, the nature of…

NEW YORK, December 25, 2025: Consumer confidence has declined across major economies even as spending levels remain steady, underscoring a notable divergence between sentiment and behavior. Despite persistent concerns about inflation, high interest rates, and global economic uncertainty, households continue to sustain expenditure, supported by stable employment and gradual wage growth. In the United States, the University of Michigan’s consumer sentiment index and the Conference Board’s Consumer Confidence Index both recorded declines in recent months. Respondents cited higher prices for essentials such as housing, food, and transportation as key factors driving pessimism about personal finances. Similar trends have been observed in the eurozone, where consumer…

WASHINGTON, Dec 25: The yield on the 10-year U.S. Treasury note held steady on Tuesday as investors assessed the latest economic data and its implications for the Federal Reserve’s interest rate outlook heading into 2025. The move followed an upward revision in third-quarter U.S. gross domestic product (GDP) growth, underscoring continued strength in the economy despite elevated borrowing costs. The benchmark 10-year Treasury yield was little changed at 3.86 percent, holding near levels seen in recent sessions. The two-year yield, which closely reflects expectations for short-term monetary policy, edged lower to 4.35 percent, while the 30-year yield remained around 4.02 percent. Trading volumes were thin ahead of…

Nvidia will restart H200 chip exports to China in February 2026 after U.S. trade rules were eased, restoring access to one of its largest AI hardware markets.

NEW YORK, December 23, 2025: Wall Street’s main indexes rose on Monday as U.S. markets began a holiday-shortened trading week, with technology stocks leading broad-based gains. The S&P 500 climbed 0.6 percent, nearing its recent record high, while the Nasdaq Composite advanced 0.8 percent and the Dow Jones Industrial Average gained 0.4 percent. Trading volumes were light as investors prepared for an abbreviated schedule ahead of the Christmas holiday. Technology and semiconductor stocks were the strongest performers, extending last week’s rebound and driving the Nasdaq higher. Major chipmakers and large-cap technology firms saw steady buying, with the sector continuing to benefit from robust demand linked to artificial intelligence…

WASHINGTON, December 18, 2025: The latest round of U.S. economic data is signaling a moderation in growth as consumer spending slows, industrial activity softens, and inflation remains above the Federal Reserve’s target. The figures suggest the economy is entering the final weeks of 2025 with less momentum than earlier in the year, even as the labor market continues to show resilience. Retail sales rose 0.1 percent in November, according to data released by the U.S. Commerce Department, undershooting market expectations and marking one of the smallest monthly gains this year. After adjusting for inflation, real spending showed little change, highlighting reduced household purchasing…