Stories tagged “Global Economy.”
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President Trump told Axios the U.S. is only 'semi-negotiating' with Iran and signaled he would allow economic pressure to pile on Tehran. Iran set out new demands for reopening the Strait of Hormuz that include compensating Iran for war damage.
Europe's Next Energy Crisis Won't Be a War, It'll Be Peak Oil
Europe's next energy crisis won't be a war, but rather peak oil. The continent is facing a severe energy shortage, with oil prices surging due to supply route risks and geopolitical tensions. This crisis has significant implications for the global economy and energy markets.
Iran has issued a new list of demands to the United States, complicating efforts to reopen the critical Strait of Hormuz. NBC News' Keir Simmons reports from Doha.
The UAE accused Iran of targeting a tanker belonging to its state-owned oil company in the Strait of Hormuz, even as both Iran and Oman suggested talks on administering the vital waterway were progressing.
Yemen's Houthi rebels have launched fresh missile and drone attacks on Saudi-backed government troops in the eastern Yemeni city of Marib, leaving dozens dead and wounded. The attacks come a day after a series of strikes on government military positions.
The Ibex Tries New Highs After US Employment Data
The Ibex 35 is trying new highs after the US employment data, which has cooled down expectations of new interest rate hikes by the Federal Reserve. The market is now looking at the negotiations to normalize the maritime traffic through the Strait of Hormuz and the US empl…
Oil continued its rise on Friday amid further concerns around the opening of the Strait of Hormuz as Iran, working with Oman, suggested banning vessels deemed hostile from the strait and heavily fining those who violated the proposed rules.
At least 30 Yemeni government troops have reportedly been killed in Houthi rebel attacks on military camps in central Yemen. The Houthis said the attacks were a response to a Saudi blockade of ports and airports in Yemen.
Iran says Hormuz deal with Oman in final stage as Trump signals breakthrough
Iran says it is in the final stages of drafting an agreement with Oman over the Strait of Hormuz, while President Donald Trump suggests a deal could be announced within days, potentially easing a blockade that has disrupted global shipping and fueled months of conflict.
Middle East: Hundreds of ships remain stranded in Strait of Hormuz
Hundreds of vessels are stranded in the Strait of Hormuz as Iran and Oman move closer to an agreement to reopen the crucial oil shipping lane. The potential deal could ease strain on the global economy and pave the way for Washington and Tehran to resume negotiations on T…
US crude oil inventories have built up as Washington talks up a potential peace deal. The development has led to a surge in oil prices, with WTI crude rising by 6.30% and Brent crude by 5.98%. The increase in oil prices is attributed to the escalation of the conflict in t…
Iron Ore Prices Hit One-Year Low as China Demand Slump Deepens
Iron ore prices have hit a one-year low due to a slump in demand from China, a major consumer of the commodity. The decline in prices is attributed to a decrease in steel production in China, which has led to a reduction in iron ore imports.
Russia has reported a further attack on a Wildberries warehouse in Ukraine, with the company stating that the facility in the Tver region was damaged but no one was injured. The attack comes as tensions between Russia and Ukraine continue to escalate.
Crude oil exports from Venezuela decreased to around 1.16 million barrels per day in July compared to 1.2 million barrels per day in June, while shipments to the US increased to around 786,000 barrels per day, the highest level since early 2019.
Iran denied President Trump's claim that negotiations with the U.S. would begin today, despite Trump's statement that a deal is imminent regarding the Hormuz Strait and denuclearization of Iran. Oil prices fell more than 5% after Trump's announcement.
A joint US-Japanese effort to fight off speculative bets against a battered yen last week followed months of preparation by the two nations and a rare and public alignment of interests in Washington and Tokyo over exchange rates.
US President Donald Trump confirmed that the US helped Japan stabilize its weak yen, describing it as a 'sign of friendship'. The intervention comes after Japan's finance minister said the country had coordinated with the US to buy yen and stabilize the currency.
Japan and the US have confirmed a rare, coordinated yen-buying intervention to halt the Japanese currency's slide to 40-year lows. The joint intervention underscores both countries' resolve to prevent global spillovers from a sell-off in the yen and Japanese government bo…
US President Donald Trump announced that talks with Iran will take place on Monday, but did not set a deadline for an agreement.
Trump says US backed Japanese Yen in rare currency intervention
President Donald Trump confirmed the US intervened to support the Japanese yen, calling it a 'signal of friendship' that would benefit the US and global economy.
Dollar suddenly falls against yen, traders on alert for further intervention
The US dollar suddenly dropped against the yen on Monday, reversing gains made earlier in the session, keeping traders on alert for further intervention by authorities to shore up the Japanese currency.
Governments are told to shrink public services due to lack of funds, but a new report suggests that countries could capture an extra $500bn a year without raising corporate tax rates by taxing multinational profits where real economic activity happens.
US President Trump has threatened Iran with the heaviest attacks yet, warning that the country will 'not be able to take it anymore.' Iran has responded by warning of retaliation against Israel and the Gulf states.
The US Treasury Department has intervened in the foreign exchange market to support the Japanese yen for the first time since 2011, in coordination with Tokyo. The move aims to stabilize the yen, which has been declining to levels not seen in over four decades.
Apple's shares fell nearly 10% after a disappointing forecast showed the iPhone maker was struggling to secure enough components due to the AI-driven data center boom straining global supply chains.
US Treasury intervenes to support yen through purchases - FT
The US Treasury intervened in currency markets by purchasing yen, joining Japan's efforts to support the currency from near four-decade lows. The Federal Reserve Bank of New York sold euros and purchased yen on behalf of the Treasury, according to the Financial Times.
Exclusive-Bessent’s ’to do’ list: buy $5-10 billion worth of Japanese yen, Reuters photo shows
U.S. Treasury Secretary Scott Bessent's 'to-do' list during a cabinet meeting at Camp David shows he is contemplating U.S. purchases of $5 billion to $10 billion worth of Japanese yen.
Ansarullah leader Sayyid Abdul-Malik Badr al-Din al-Houthi ties Riyadh to convicted sex offender Jeffrey Epstein, exposing a scandal involving the desecration of the Holy Kaaba's Kiswah curtain. Yemen locks in a naval blockade against Saudi Arabia in response to recent jo…
US Treasury informed banks that it may intervene in yen, source says
The US Treasury has informed banks that it may intervene in the yen market on Friday, a source familiar with the matter told Reuters. The notice to banks, channeled through the Federal Reserve Bank of New York, comes a day after Japanese authorities stepped in to prop up …
The Islamic Revolutionary Guards Corps (IRGC) said two violating oil tankers were struck and brought to a halt in the Strait of Hormuz after attempting to transit through an unauthorized route.