Latest Business News
Gold Hits Record High Near $5,000 per Ounce
Gold prices rose to another record on Friday, nearing $5,000 per ounce, up nearly 15% year-to-date, as investors seek safe havens amid uncertainty. This follows Wall Street's lift from US Q3 2025 GDP growth of 4.4%, though markets closed mostly down due to geopolitical issues.
Precious metals are increasingly core portfolio components in uncertain times, per trader Islam Saleh.
Wall Street Drifts Lower as Intel Tumbles
Wall Street indices ended the week mostly down, with Dow dropping 0.58%, S&P flat, and Nasdaq up 0.3%, amid Intel's decline due to supply shortages. Intel's CFO noted industry-wide supply issues bottoming early 2026, with CEO highlighting AI opportunities.
Geopolitical tensions over Trump's Greenland push contributed to market nervousness.
Trump Announces Greenland Deal Framework, Calls Off Tariffs
President Trump revealed a 'framework of a future deal' on Greenland, averting 10% tariffs on European countries opposing US control. This followed threats and market slides, with the US dollar falling against yen and others.
Relief came Wednesday, though details remain scarce.
Oil Prices Spike 3% on Iran Threats and Kazakhstan Outage
Oil surged with Brent at $65.88 (+2.84%) and WTI at $61.07 (+2.88%) after US threats against Iran and Tengiz oilfield outage in Kazakhstan. Prices recovered from prior drop amid supply disruption fears.
This reflects heightened geopolitical risks.
Apple Tops 2026 World's Most Admired Companies List
Apple ranked No. 1 for the 19th consecutive year on Fortune's 2026 World's Most Admired Companies list. CEO Tim Cook leads the tech giant's enduring reputation.
The list highlights sustained corporate prestige amid business challenges.
Capital One Acquires Brex for $5.15 Billion
Capital One Financial shares sank 6.9% after weaker Q4 2025 profits but announced $5.15 billion cash-and-stock buy of Brex for corporate cards. The deal targets business payment solutions amid market volatility.
Investors reacted to earnings miss despite acquisition news.
Clorox Buys Purell Maker GOJO for $2.25 Billion
Clorox acquired GOJO Industries, maker of Purell, for $2.25 billion in cash, boosting its hygiene portfolio. Shares gained 1.2% on the announcement.
The move aligns with consumer goods demand post-pandemic.
US Economy Expanded 4.4% in Q3 2025, Boosting Markets
US GDP grew 4.4% in Q3 2025, surpassing estimates, driven by strong consumer spending in October-November. Labor market tepid but overall data lifted Thursday indices.
This supports Fed's inflation fight without vicious cycle.
Big Pharma VC Bets Big on AI Drug Discovery
Silicon Valley and Wall Street pour billions into AI for drug discovery to revolutionize disease treatment. Experts compare it to advancing from hand-designed to AI-optimized drugs.
The high-stakes investment aims to solve healthcare challenges.
Billionaires 4,000x More Likely to Hold Office, Oxfam Warns
A report finds billionaires are 4,000 times more likely to hold political office than average people, raising oligarchy concerns. Oxfam's Nabil Ahmed highlights choice between oligarchy and democracy.
This underscores wealth's political influence.
CSX Shares Climb Despite Weaker Profits on 2026 Outlook
Railroad CSX rose 3.4% after reporting lower-than-expected profits but strong 2026 operating profit retention forecast per revenue dollar. Analysts praised the guidance amid economic optimism.
It reflects resilience in transport sector.
Asian and European Markets Mixed on Economic Optimism, Tensions
Asian bourses like Singapore, Seoul, Taipei hit highs; Nikkei +0.3%, Shanghai +0.3%, Hang Seng +0.5%. Europe saw FTSE 100 -0.07%, CAC 40 -0.1%, Dax +0.2% amid tensions.
US consumer sentiment stronger than expected supports growth.