Latest Business News
Global stocks near records after mixed US jobs report and Fed cut expectations
US and European stock markets are climbing toward record highs after a US jobs report showed weaker‑than‑expected hiring but a better unemployment rate, reinforcing a “low‑hire, low‑fire” labor market. The data is bolstering expectations of at least one or two Federal Reserve rate cuts in 2026, helping push the S&P 500 and London’s FTSE 100 to or near record levels.
Trump mortgage‑bond plan sparks housing and homebuilder stock surge
US homebuilder and housing‑related stocks jumped sharply after President Donald Trump announced a plan to purchase $200 billion of mortgage bonds to drive down mortgage rates. Shares of Builders FirstSource, Lennar, PulteGroup, and D.R. Horton all gained between roughly 4.8% and 8.5% on hopes of cheaper financing and stronger housing demand.
Oil and gold prices rise on Venezuela, Iran tensions and tariff threats
Oil prices recorded a third straight weekly gain, with Brent settling above $63 and WTI above $59 per barrel, driven by geopolitical tensions in Venezuela and Iran and threats of tariffs up to 500% on buyers of Russian oil. Gold also posted weekly gains, trading around $4,500 an ounce as investors sought safety amid economic uncertainties and the softer US jobs report.
GM takes $6 billion hit as it retreats from electric vehicles
General Motors said it will incur a $6 billion charge for the final quarter of 2025, on top of $1.6 billion previously, tied to its pullback from electric vehicles. The company cited weaker EV demand amid reduced tax incentives and looser fuel‑emission rules, sending its shares down about 3.3% despite broader market gains.
Meta’s nuclear power deals fuel surge in energy and reactor stocks
Power company Vistra’s stock jumped nearly 12% after it signed a 20‑year agreement to supply electricity to Meta Platforms from three nuclear plants, supporting Meta’s AI‑driven data‑center expansion. Nuclear startup Oklo also rose more than 12% after announcing a related deal with Meta to secure nuclear fuel and advance its planned facility in Ohio.
World Liberty Financial seeks US national trust bank charter for stablecoin
Crypto firm World Liberty Financial, affiliated with the Trump family, has applied for an OCC national trust bank charter to issue its USD1 stablecoin and streamline customer conversion of the token. The move underscores growing efforts to bring stablecoin issuance into the regulated banking perimeter as US authorities clarify trust banks’ non‑fiduciary activities.
Wyoming launches first state‑backed blockchain stablecoin
Wyoming announced issuance of what it calls the first state‑backed stablecoin, described as the first blockchain‑based asset directly backed by a US state. The initiative is a major step in state‑level digital currency experimentation and raises questions about how such tokens will interact with federal regulation and private stablecoins.
Fifth Third and Comerica shareholders approve regional bank mega‑merger
Shareholders of Fifth Third Bancorp and Comerica Inc. have voted to approve a merger, creating a significantly larger US regional bank. The transaction, expected to close in the first quarter of 2026, will further consolidate the regional banking sector and could reshape competition in key Midwestern and Southern markets.
JPMorgan to take over Apple Card issuance from Goldman Sachs
JPMorgan Chase announced it will become the new issuer of Apple Card, with the portfolio transfer expected to occur in about two years. The shift comes as Apple restructures its financial‑services partnerships and Goldman Sachs steps back from much of its consumer banking push.
Nvidia CEO criticizes ‘AI doomerism’ as finance giants ramp up AI adoption
Nvidia CEO Jensen Huang argued that frequent warnings about AI risk have done “a lot of damage” by discouraging investment and innovation in the technology. At the same time, major Wall Street firms from JPMorgan to Blackstone are accelerating AI adoption to cut costs, automate routine work, and reshape financial‑sector jobs.
EU flags 19 critical cloud and software providers under new resilience rules
European financial supervisors designated 19 major cloud and software providers—including Amazon, Google, Microsoft, Accenture and others—as “critical” under the Digital Operational Resilience Act (DORA). The classification subjects them to heightened oversight due to their systemic importance to Europe’s financial sector and raises debate over how much control the EU can exert over global tech firms.