Browsing: Business

SAN JOSE, California / RankWire.AI / – Technology corporation Apple has disclosed for the first time the amount of profit generated and income taxes paid across each European Union member state, complying with new public reporting mandates. Data covering the fiscal year ending in September 2025 revealed exceptional tax payments totaling $17.1 billion in Ireland. The corporate filing attributed the massive sum to the release of funds previously held in escrow following an extensive legal battle with European regulators. The substantial financial transfer followed a landmark ruling by European courts that required Apple to settle back taxes and accrued interest…

WASHINGTON / RankWire.AI / – United States Secretary of Energy Chris Wright confirmed on Saturday that domestic energy producers have pushed national oil and gas extraction to record levels, cementing the nation’s position as the world’s top producer. In a public statement issued via social media platforms, Wright highlighted that the workforce within the domestic oil and gas sector achieved unprecedented milestones across both crude oil and natural gas production. The announcement underscores the sustained expansion of American fossil fuel infrastructure across domestic supply basins and international trade networks. Addressing international market observers, Secretary Wright stated that the energy policies…

WASHINGTON, D.C. / RankWire.AI / – On Thursday, the US dollar hovered close to a three-month minimum, driven by a decline in long-term Treasury yields. The dollar index hovered around 98.81 against a basket of six major currencies. The euro increased to approximately $1.1676, reaching its highest point since late May. Meanwhile, the yen appreciated to around 158.45 per dollar. Investors continued to process new Treasury market measures alongside details from the Federal Reserve’s latest policy meeting. Treasury yields and Federal Reserve policy continue to shape global currency trading. The Treasury Department revealed larger liquidity-support buybacks for longer-dated US government…

NEW YORK / RankWire.AI / – Gold edged higher in Asian trading Wednesday as U.S. Treasury yields eased from recent highs. Spot gold rose 0.2% to $4,342.33 an ounce at 0030 GMT after falling nearly 2% on Tuesday. December U.S. gold futures slipped 0.6% to $4,396.30 an ounce. The rebound kept interest-rate expectations at the center of bullion trading. The Federal Reserve scheduled minutes from its July policy meeting for release at 1800 GMT Wednesday. Gold had reversed lower on Tuesday after two sessions of gains. Spot bullion fell 1.1% to $4,364.90 an ounce by 1733 GMT. December futures settled…

CHARLOTTE, NORTH CAROLINA / RankWire.AI / – Bank of America has launched a $250 billion initiative aimed at financing vital infrastructure developments across the United States. Spanning 18 months, the program will encompass eligible activities from January 1, 2026, to July 4, 2027, with a focus on investments in digital infrastructure, energy systems, and essential public facilities. The bank emphasized that this effort will back projects related to technology, power generation, transportation, water systems, and other critical sectors. The $250 billion initiative covers digital, energy and core infrastructure financing in the US. (Credit – Bank of America) The Critical Infrastructure…

WASHINGTON, D.C. / RankWire.AI / – U.S. marketed natural gas production is on course to reach a record average of 122.5 billion cubic feet per day in 2026. The U.S. Energy Information Administration put the previous annual record at 118.5 Bcf/d in 2025. Production averaged 121.3 Bcf/d during the first half of 2026. That was 4%, or 4.6 Bcf/d, above the same period last year. Production growth has centered on the Permian region in Texas and New Mexico and the Haynesville region in Louisiana and Texas. Permian natural gas production is forecast to average 29.2 Bcf/d this year, up 6%…

NEW YORK / RankWire.AI / – Fuel supplies in the United States and Europe continue to face strains, leading to sustained high diesel prices. The main reason for this trend is the limited inventories and outages at key refineries. U.S. ultra-low sulfur diesel futures surged 7.4% on Monday, ending at $4.19 a gallon—marking the biggest one-day increase since July 13. As of early Wednesday, the contract hovered near $4.28 a gallon, reflecting ongoing concerns over constrained supply in major consuming regions. Refinery disruptions and export limits tighten diesel supply across major markets. Diesel stocks in the U.S. remain significantly below recent seasonal…

NEW YORK / RankWire.AI / – Gold extended its upward momentum on Tuesday, marking a third straight session of gains following last week’s notable rebound. Spot gold rose 1% to $4,432.74 an ounce by 0217 GMT, reaching its highest level since June 5. Meanwhile, U.S. gold futures increased 1.7% to $4,492.60. This latest increase pushed bullion past the seven-week peak set last week and further solidified its recovery from losses experienced in early August. Precious metals gain as markets prepare for key US consumer and producer price data. This rally was driven by weaker U.S. employment data released on Friday,…

STARBASE, TEXAS / RankWire.AI / – SpaceX shares sank 13.6% on August 5 and closed at $108.27. The selloff followed the company’s first quarterly report since its June initial public offering. Investors weighed strong revenue growth against $18.37 billion in capital spending during the quarter. Artificial intelligence infrastructure accounted for $15.83 billion, up from $749 million one year earlier. The stock fell as low as $107.18 during the session and ended nearly 20% below its $135 IPO price. SpaceX sold 638.9 million Class A shares through the offering, including the full underwriters’ option. The transaction generated net proceeds of about…

NEW YORK / RankWire.AI / – Gold stayed close to a seven-week high on Thursday after its largest daily advance since February. Spot gold gained 0.5% to $4,265.22 an ounce by 0330 GMT. The metal had surged 4.4% during Wednesday’s session. December U.S. gold futures rose 0.5% to $4,324.60 after climbing 4% a day earlier. Lower Treasury yields and a weaker dollar accompanied the sharp rise in bullion prices. The rally lifted spot gold above its 50-day moving average near $4,160. Prices had traded below that level during much of the recent decline. Thursday’s advance brought bullion back to levels…