Global airlines have cut around 13,000 flights scheduled for May, as surging jet fuel prices driven by the Middle East conflict force carriers to trim capacity and reassess operations. The cancellations account for roughly 1% of global flights, a notable disruption across the aviation sector. Data shows that nearly two million seats have been removed
Shares of Corning surged about 20% in premarket trading on Wednesday after the company announced a multiyear partnership with Nvidia to expand optical manufacturing capacity in the United States. The collaboration will focus on developing advanced optical technologies for artificial intelligence infrastructure, including the construction of three new manufacturing facilities in North Carolina and Texas.
Private sector hiring in the United States came in stronger than expected in April, offering fresh evidence of labor market resilience and reinforcing the case for the Federal Reserve to hold interest rates steady. Data from ADP showed that companies added 109,000 jobs during the month, up from a revised 61,000 in March and ahead
Wall Street’s main indexes opened higher on Wednesday, extending a strong run fueled by optimism over a potential US-Iran peace agreement and continued enthusiasm around artificial intelligence-driven growth. Stock indices advanced after reports suggested Washington and Tehran were nearing a deal to end the conflict. The Dow Jones Industrial Average rose 448 points, or 0.91%,
Coinbase said on Tuesday that it will cut about 700 jobs, representing roughly 14% of its global workforce, as part of a broader restructuring effort aimed at reducing costs and repositioning the business for the artificial intelligence era. The company indicated that the majority of the restructuring process is expected to be completed in the
Luxury sportscar maker Ferrari reported a 4% rise in core earnings for the first quarter, supported by robust demand for vehicle personalisations and higher-priced models, including the F80 supercar. The company said earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at €722 million for the January–March period, slightly ahead of the €705 million
The iShares 20-Year Treasury Bond ETF (TLT) dropped sharply on Monday as long-term government bond yields soared. TLT dropped to $84.9, its lowest level since March 27. It remains 5.50% below its highest point in February this year. TLT ETF drops as US 30-year Treasury yields soar American and foreign investors are selling long-term government
Oil prices fell more than 2% on Tuesday, but Brent crude was still above $110 per barrel as re-escalation in tensions in the Middle East limited losses. Gold prices recovered after dropping to a five-week low in the previous session. This rebound occurred as oil prices slightly decreased. Meanwhile, silver contracts on COMEX edged higher,
The United Arab Emirates’ surprise exit from OPEC marked a turning point in global energy politics, signalling a shift from cartel discipline to a market-driven strategy, even as the Strait of Hormuz remains choked by war disruptions. The move ended nearly six decades of membership and removed the cartel’s third-largest producer, marking one of the
Shares of PayPal Holdings Inc. (NASDAQ: PYPL) fell sharply in premarket trading, down more than 10%, despite the company reporting first-quarter results that exceeded analyst expectations. The decline reflects investor concern over its near-term earnings outlook and ongoing restructuring efforts under new leadership. The payments platform posted revenue of $8.40 billion for the first quarter,