Latest Business News
US and Iran Forces Clash Near Strait of Hormuz
Missile and drone attacks have strained the fragile ceasefire between the US and Iran, prompting US retaliatory strikes on Iranian military facilities . Oil prices have risen as the Strait of Hormuz, a critical waterway for oil and gas transit, remains largely closed and a US sea blockade on Iranian ports continues
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Federal Trade Court Rules Trump's 10% Global Tariffs Unlawful
President Trump's economic agenda suffered a setback when a federal trade court declared his 10% global tariffs unlawful, though the ruling was narrowly applied to specific plaintiffs . This decision represents another blow to the administration's tariff policies
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EU-US Trade Negotiations Stall Over Industrial Goods Tariffs
The European Parliament and EU member states failed to reach a deal on eliminating EU tariffs on US industrial goods as agreed under the Turnberry agreement from summer 2025 . The US has threatened to impose 25% tariffs on EU cars, exceeding the 15% ceiling previously agreed between Trump and EU Commission President Ursula von der Leyen
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Asian Stock Markets Decline Amid Iran Tensions
Asian stocks retreated on Friday as the US-Iran conflict escalated, with Tokyo's Nikkei 225 falling 0.2% and Australia's S&P/ASX 200 losing 1.5% . SoftBank Group dropped 4.6% after gaining 18% the previous day, amid broader caution around AI investments
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SoftBank Downsizes $10 Billion OpenAI-Backed Margin Loan
Japanese tech giant SoftBank has reduced its plans for a $10 billion margin loan backed by its OpenAI stake, signaling caution around artificial intelligence investments . This adjustment reflects broader market concerns about AI sector valuations
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US Stock Market Pulls Back from Records
The S&P 500 fell 0.4% to 7,337.11, the Dow Jones Industrial Average slipped 0.6% to 49,596.97, and the Nasdaq composite dropped 0.1% to 25,806.20 on Thursday . US futures rose on Friday despite escalating Iran tensions, with S&P 500 futures gaining 0.5%
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Whirlpool Shares Plummet 11.9% on Weak Earnings
Whirlpool stock sank 11.9% following weaker-than-expected quarterly results . The company's poor performance contributed to broader weakness in US equities
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Shake Shack Tumbles 28.3% After Disappointing Results
Fast-casual restaurant chain Shake Shack's stock plummeted 28.3% following weaker-than-expected earnings results . The significant decline reflects investor disappointment with the company's financial performance
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McDonald's Stock Edges Down Despite Beating Expectations
McDonald's fell 0.1% after reporting quarterly revenue that exceeded analyst expectations . Despite the positive earnings beat, the stock experienced minimal movement as investors digested the results
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US-Iran War Negotiations Show Limited Progress
Tehran announced Thursday that it is still examining the latest proposals from the US for ending the ongoing war, indicating slow-moving negotiations . Investors are closely monitoring the conflict situation as it continues to impact global markets and oil prices
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European Stocks Decline in Morning Trading
Britain's FTSE 100 fell 0.7% to 10,206.38, Germany's DAX shed 1% to 24,417.08, and France's CAC 40 dropped 0.8% to 8,134.92 in early European trading . The declines reflect broader concerns about geopolitical tensions and trade uncertainties
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Currency Markets Adjust Amid Global Uncertainty
The US dollar fell to 156.65-156.82 Japanese yen from 156.93 yen, while the euro strengthened to $1.1745-$1.1772, up from $1.1726 . Currency movements reflect investor concerns about geopolitical risks and economic policy uncertainty
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