Shipping traffic through the Strait of Hormuz has slowed dramatically, with only five vessels, including a single Iranian oil products tanker, passing through in the last 24 hours, according to Friday’s shipping data. The sharp decrease follows Iran’s seizure of two container ships this week and an ongoing US blockade of Iranian ports, escalating maritime
The European Union has partnered with financial institutions to launch the Global Green Bond Initiative Fund, aiming to mobilise up to €20 billion ($23.43 billion) in private capital for sustainable infrastructure projects in low- and middle-income countries. The initiative reflects the EU’s broader push to expand climate-focused financing while supporting economic development in emerging markets.
US stocks edged higher on Friday, supported by renewed optimism around potential diplomatic progress between Washington and Tehran, alongside strong momentum in semiconductor stocks led by Intel. The S&P 500 rose about 0.25%, while the Nasdaq 100 climbed 1.2%. The Dow Jones Industrial Average, however, was down 179 points. The cautious optimism follows reports that
Procter & Gamble exceeded analyst expectations for quarterly earnings and revenue, reporting its first volume growth in a year and sending the company’s shares up approximately 3.3% on Friday. For its fiscal third quarter, P&G reported net income attributable to the company of $3.93 billion, or $1.63 per share, an increase from $3.78 billion, or
Shares in SAP rallied on Friday after the German software giant reported better-than-expected first-quarter profit and reaffirmed its long-term cloud outlook. The strong result came even as concerns around artificial intelligence continue to weigh on the broader sector. SAP’s American depositary receipts rose 7.3% to $175.31, recovering from a 6.2% decline in the previous session.
Hasbro, Inc. reported preliminary first-quarter revenue that exceeded Wall Street expectations, driven by strong demand for its flagship trading-card franchise Magic: The Gathering, even as a cybersecurity incident delayed the release of full results. The company said it expects revenue in the range of $970 million to $985 million for the quarter, ahead of analyst
Emerging market stocks and currencies declined on Thursday as elevated crude prices and ongoing geopolitical tensions weighed on investor sentiment. Continued restrictions on shipping through the Strait of Hormuz and the absence of US-Iran negotiations kept oil prices above $100 a barrel, fuelling concerns of a potential global economic slowdown. MSCI’s index tracking emerging market
The BitMine stock price has rebounded in the past few weeks, moving from the year-to-date low of $17.30 in February to the current $23.30. This rally may continue in the foreseeable future as Ethereum rebounds and a double-bottom pattern forms. Tom Lee is accumulating Ethereum aggressively On-chain data shows that BitMine continues to accumulate ETH
The Tilray stock price has risen in the past few days, a trend that accelerated this week. It jumped to a high of $8, up by over 30% from its lowest level this year. This rally may continue in the near term amid the ongoing reclassification talk. Tilray stock jumps amid reclassification talk The main
The number of Americans filing for unemployment benefits rose modestly last week, suggesting the labour market remains broadly stable even as geopolitical tensions and rising costs pose emerging risks to economic momentum. Data released by the US Department of Labor showed initial claims for state unemployment benefits increased by 6,000 to a seasonally adjusted 214,000