A sustained $100-per-barrel oil price could trigger a significant increase in South American crude supply, potentially unlocking up to 2.1 million barrels per day (bpd) of additional output by the mid-2030s, according to a Rystad Energy analysis. The effective closure of the Strait of Hormuz has necessitated a significant upward adjustment in Rystad’s average forecasted
DoorDash is preparing to introduce a new payout option that would allow delivery drivers to receive part of their earnings in stablecoins. The system would be built on Tempo, a payments-focused blockchain developed by Stripe and Paradigm, designed specifically for fast and low-cost money transfers. The plan, still in the planning and early integration stage,
Apple is entering a new phase of leadership, with longtime chief executive Tim Cook set to step aside after nearly 15 years at the helm and pass control to hardware chief John Ternus. The transition, effective September 1, will see Cook move into the role of executive chairman, where he is expected to remain closely
America’s allies, grappling with surging energy costs triggered by Washington’s military strikes on Iran and the resulting disruption in global supply chains, are confronting a strategic dilemma. The crisis has highlighted the need to move away from volatile fossil fuel markets. However, it has also exposed a new risk, as energy security increasingly depends on
Shares of USA Rare Earth rose in early Monday trading after the company announced a $2.8 billion deal to acquire Brazil-based Serra Verde Group, a move aimed at strengthening its supply chain and reducing Western dependence on China for critical minerals. The stock gained 10% in premarket trading, extending a recent rally, even as equity-funded
Shares of American Airlines fell over 3% in premarket trading on Monday after the carrier publicly dismissed speculation of a potential megamerger with rival United Airlines, even as rising oil prices and operational disruptions weighed on the broader aviation sector. The airline issued a statement late Friday rejecting any discussions around a tie-up, pushing back
Eli Lilly said on Monday it will acquire privately held Kelonia Therapeutics in a deal worth up to $7 billion, as the drugmaker deepens its presence in next-generation cancer treatments. The agreement includes an upfront payment of $3.25 billion, with additional payouts tied to clinical, regulatory and commercial milestones. The transaction is expected to close
Three months ago, European investors were pouring money into the continent’s stock markets at a record pace, betting that years of underperformance were finally coming to an end. The euro was strong, defence stocks were surging, and the valuation gap with the US was too wide to ignore. Then came the Iran war, the closure
Wall Street’s main indexes opened lower on Monday, as renewed tensions between the US and Iran weighed on investor sentiment following a record-setting rally last week. The Dow Jones Industrial Average gained 28 points, while the S&P 500 slipped 0.17% and the Nasdaq-100 declined about 0.13%. The pullback comes after a strong run that pushed
Shares of Adobe rose on Monday after the company unveiled a new artificial intelligence agent platform aimed at strengthening its position in an increasingly competitive software landscape. The stock climbed about 2.49% to $250.53, outperforming a broader market decline that saw the S&P 500 fall 0.14% and the Nasdaq Composite drop 0.34%. Despite the gain,