Latest Business News
Global Stocks Slump as Oil and Gold Tumble on Iran-US Talks
Global markets slumped sharply with Asian stocks posting their worst two-day fall since April, driven by plunging oil and precious metals. Gold fell 5.34% to $4,604.47/oz and silver dropped 11.25% to $75.10 amid reassessed geopolitical risks.
President Trump indicated Iran is in 'serious' discussions with the US, easing tensions and hitting crude prices over 5%.
Trump Nominates Kevin Warsh as Next Federal Reserve Chair
US President Donald Trump nominated Kevin Warsh as Fed chair on Friday, sparking dramatic market volatility. This triggered sell-offs in precious metals, described as their worst day in decades by Emirates NBD analyst.
Markets await impacts on tech earnings from Alphabet, Amazon, and AMD this week.
OPEC+ Pauses Oil Output Growth for March Amid Price Drop
Crude prices fell over 5% after OPEC+ reaffirmed a pause in output growth for March in a record six-minute meeting. Options include reversing prior increases or maintaining levels, per UBS strategist.
Temporary US and Kazakhstan disruptions had supported prices earlier in 2026.
Kennedy Center Closes for 2 Years After Trump Naming Controversy
The Kennedy Center will close for two years for renovations following canceled shows due to Trump adding his name to the building. This comes amid a wave of disruptions linked to the political decision.
The closure aims to address ongoing issues from the controversy.
New York Builds Tech Mecca as Silicon Alley Turns 30
As Silicon Alley marks 30 years, New York is evolving into its own tech hub from dot-com bubble to companies like Datadog. The region is fostering a unique version of Silicon Valley.
This development highlights sustained tech growth in the city.
Current US Mortgage Rates Report for February 2, 2026
Average mortgage rates for various home loans are reported for Monday, aiding house shoppers in selecting options. Key details cover fixed and adjustable-rate mortgages.
Refi rates are also detailed in a separate update.
Japan's Debt Avoids Crisis via 'Mutually Assured Destruction' Threat
Unique features of Japanese Government Bonds (JGBs) prevent a debt crisis for now through a 'mutually assured destruction' dynamic. This limits odds of Japan triggering the next global debt issue.
The situation provides temporary stability amid high debt levels.
FedEx's New CEO Subramaniam Leads Without Founder Fred Smith
Subramaniam, FedEx's second-ever CEO and company lifer, now leads the Global 500 firm independently for the first time. This marks a significant transition post-Fred Smith era.
Challenges ahead include navigating logistics in a volatile market.
China's Export-Led Growth Model Becomes Unsustainable Amid Deflation
China's reliance on exports is increasingly hard to sustain as deflation hits the economy. The growth model faces mounting pressures in 2026.
This raises concerns for global supply chains dependent on Chinese manufacturing.
Canadian Businesses Confident in 2026 Driven by AI Investments
84% of Canadian executives are confident in organizational performance despite global economic uncertainty, fueled by AI bets. 92% prioritize AI sovereignty in strategies amid concerns over compute dependence.
Real-time AI decisions are essential, with 72% warning laggards will fall behind.
IBM Study Highlights Five AI Trends Redefining Canadian Business
IBM IBV's 2026 trends show AI accelerating autonomy, trust, and speed for Canadian firms. Leaders bet on AI for long-term growth beyond experimentation.
The study surveyed 1,028 C-suite executives across 20 industries.
RBI and CPE Complete Joint Venture to Boost Burger King in China
Restaurant Brands International (RBI) and CPE finalized their joint venture to reignite Burger King growth in China. The deal aims to expand operations in the key market.
Announced previously, completion occurred on February 2, 2026.