Finance & Business News

‘Hormuz has to reopen’: Why the oil industry can’t help Trump tame rising gasoline prices - Politico

Oil industry executives say much of the administration’s messaging on supply disruptions from the Iran war has discouraged drilling.

Stock Market Today: Stocks Face Fourth Straight Week of Declines — Live Updates - WSJ

Gold Set for Worst Week in Six Years as War Curbs Rate-Cut Bets - Bloomberg.com

Gold headed for its biggest weekly loss since 1983, as war in the Middle East boosted energy prices and reduced expectations for interest-rate cuts.

Stocks slip, head for fourth-straight losing week as Iran war continues: Live updates - CNBC

Stocks fell Friday as traders kept monitoring the Iran war, with the major averages on pace to record another losing week.

The spring housing market is on, but mortgage rates just shot higher. Here's what to know. - CNBC

This spring's housing market is on, but economic headwinds are pushing back most of the advantage that buyers have gained over the past year in affordability.

Iran War Puts Global Energy Markets on the Brink of a Worst-Case Scenario - WIRED

“This will be so, so, so, so, so bad,” one analyst says.

Stock Market Today: Dow, S&P 500, Nasdaq Down; Oil Prices; Super Micro, FedEx, Planet Labs, More Movers - Barron's

The Dow, the S&P 500, and the Nasdaq Composite are falling as the Iran war continues to cause stock market volatility.

Traders Lift Bets on a Fed Hike This Year to 50% as Yields Surge - Bloomberg.com

US Treasuries sank and bond traders increased their bets on a Federal Reserve interest-rate hike by October to 50% as concern mounts that a protracted war in the Middle East could stoke global inflation.

Work from home and drive more slowly to save energy, global body urges - BBC

People should change how they travel, work and cook to tackle the energy price crisis, the International Energy Agency says.

rump administration approves Nextstar takeover of Tegna - MS NOW

Trump opposed the $6.2 billion merger until NextStar pulled Jimmy Kimmel off air over his Charlie Kirk comments. State attorneys general have filed a lawsuit to stop the takeover.

Much ado about protein - The Verge

This week’s Optimizer delves into how boy kibble, proteinmaxxing, protein washing and the wellness Wild West can lead to protein paranoia.

Super Micro Shares Plunge 25% After Co-Founder Charged In $2.5 Billion AI Chip Smuggling Plot - Forbes

The tech firm said it placed Yih-Shyan Liaw and one other employee on administrative leave.

UK government borrowing costs hit their highest level since 2008 as inflation fears hit the gilt market - CNBC

Three charts show the extent of the U.K. government's borrowing woes.

Facebook's Meta rebrand is looking stupider by the day - Creative Bloq

The metaverse has Meta sorry end.

Why peak uncertainty about the Iran war signals a stock-market rally may be near - MarketWatch

History shows markets tend to bottom about three weeks into a crisis

Why it’s so hard for world leaders to bring down oil and gasoline prices - NPR

From waiving the Jones Act to rerouting oil through the Red Sea, governments are doing their best to make up for the crisis in the Strait of Hormuz, but prices are still rising.

Global oil price stuck in triple digits. Goldman Sachs says it may stay there for years - CNN

Oil prices dipped Friday but remained well above $100, with energy infrastructure in the Middle East damaged and the vital Strait of Hormuz still largely shut.

Alibaba, Tencent Shed $66 Billion After AI Vision Falls Flat - Bloomberg.com

Alibaba Group Holding Ltd. and Tencent Holdings Ltd. lost $66 billion of market value in roughly 24 hours, after the market punished the twin leaders of China’s tech arena for failing to lay out clear visions for how to profit off artificial intelligence.

Novartis agrees to acquire a pan-mutant-selective PI3Kα inhibitor, strengthening its breast cancer pipeline - Novartis