Latest Finance-Economy News
Oil Rises as Trump Says US-Iran Ceasefire on 'Life Support'
Oil prices steadied near $107 for Brent after a 2.9% gain, as President Trump rejected Iran's peace offer, calling the 10-week truce 'massive life support' and prolonging Strait of Hormuz closure. WTI neared $101 amid global supply fears.
UK PM Starmer Intends to Stay in Power Despite Pressure
Keir Starmer told his Cabinet he will not step down without a fight and plans to remain Prime Minister. Pound weakness accelerates with focus on his political future.
Trump to Meet Xi in Beijing This Week on Trade, Iran, Taiwan
President Trump heads to Beijing May 14-15 to discuss trade detente, Iran war, and Taiwan arms sales with Xi Jinping. Elon Musk and Tim Cook to join; Nvidia CEO absent. Legal setbacks erode US tariff leverage.
JPMorgan Reports Record $11.6 Billion Q1 Trading Revenue
JPMorgan achieved an all-time high trading hole of $11.6 billion for the first quarter, boosting financial sector performance.
Amazon Launches First Swiss Franc Bonds in Record Deal
Amazon began sales of its inaugural Swiss franc bonds as part of a record deal in the currency, highlighting corporate debt market activity.
Energy Stocks Surge: ExxonMobil Up 3.2%, Chevron 1.7%
ExxonMobil rose 3.2%, Chevron 1.7%, and Phillips 66 2.4% amid oil rally, though most S&P 500 stocks traded lower despite records.
Iran Deploys Mini Subs to Control Hormuz Strait
Iran deployed mini submarines in efforts to control the Strait of Hormuz; Aramco warns a halt could cause 100 million-barrel oil loss.
Trump Floats Temporary Gas Tax as Prices Soar
President Trump proposed a temporary gas tax amid soaring fuel prices linked to Iran tensions and oil spikes.
BOJ Signals Possible Rate Hike Next Month on Inflation
Bank of Japan indicates chance of rate increase next month due to inflation risks, impacting Asian markets.
Australia's Budget Deficit to Narrow; Housing in Focus
Australia's budget deficit set to narrow with housing sector as centerpiece; markets open mixed in Japan, South Korea, Australia.
South Korea Floats 'Citizen Dividend' from AI Tax
South Korean official proposes 'citizen dividend' from AI tax, causing Kospi stocks to fall.
US Courts Erode Trump's Tariff Strategy Ahead of Xi Summit
Federal courts rule against Trump's sweeping tariffs, including 10% global and high China duties, weakening leverage in Beijing talks. Companies like Costco and BYD challenged them.