US consumer inflation accelerated to 3.8% in April, marking its highest annual increase since May, 2023 as rising energy prices linked to tensions in the Middle East pushed up the cost of gasoline, food and household essentials. The latest reading from the US Bureau of Labor Statistics came in above economists’ expectations of a 3.7%
Private credit funds have marked down more than a tenth of their loans by at least 50%, according to new data released by MSCI, highlighting mounting pressure on borrowers in the $3.5 trillion private credit market. In a report published on Tuesday, MSCI said loans valued below 50% were a level typically associated with deep
Wall Street opened lower on Tuesday as investors reacted to a hotter-than-expected inflation report and mounting concerns that the ongoing US-Iran conflict could continue driving oil prices higher and delaying potential Federal Reserve interest rate cuts. The S&P 500 fell 0.39%, while the Nasdaq Composite dropped 0.66%. The Dow Jones Industrial Average slipped 156 points.
European aluminium producers are bracing for a sharp rise in costs as the European Union prepares to overhaul its Emissions Trading System (EU ETS). The reform, designed to give companies more time to decarbonise, includes changes to benchmark values that determine the free allocation of carbon allowances. According to Norman Liebke, FX and commodity analyst
Nelson Peltz’s activist investment firm Trian Fund Management is seeking investor backing for a potential bid to take fast-food chain Wendy’s private, according to a Financial Times report citing people familiar with the matter. Shares of Wendy’s (WEN) surged on Tuesday following the report, climbing as much as 14% to $7.75. The stock had closed
Nvidia stock continued climbing on Tuesday, extending its record-setting rally. Shares of the AI chipmaker rose over 2% to hit a new record high of $220.41 in early trading after closing 2% higher at a record $219.44 on Monday. However, the chipmaker gave up the gains and was trading in the red at the time
Mining industry veteran Pierre Lassonde said the global financial system is undergoing a structural shift that could push gold prices to $17,250 per ounce within the next three years as the US dollar gradually loses its role as the world’s primary reserve currency. In an interview with Kitco News, the co-founder of Franco-Nevada and former
Bitget has added OpenAI (preOPAI) as the second listing on its IPO Prime platform, extending pre-IPO access to one of the most closely watched companies in artificial intelligence. Issued on Solana by regulated partner Republic, preOPAI is designed to track the economic performance of OpenAI following a future public listing. The offering introduces a low
Alphabet (GOOGL) plans to issue Japanese yen-denominated bonds for the first time as the technology giant seeks additional funding for its rapidly expanding artificial intelligence infrastructure ambitions. According to a filing on Monday, the Google parent company intends to launch the bond offering in Japan, although it did not disclose the size of the issuance.
Strategy, the bitcoin-focused company (previously known as Microstrategy), has expanded its cryptocurrency holdings once again, purchasing an additional 535 BTC for approximately $43 million between May 4 and May 10, according to a filing with the Securities and Exchange Commission. The company paid an average price of $80,340 per bitcoin in the latest acquisition round,