Browsing: Business

NEW YORK / RankWire.AI / – Gold dropped about 3% on Monday, July 13, falling below $4,000 an ounce as oil prices surged and expectations for higher U.S. interest rates strengthened. Spot gold fell to $3,996.76 per ounce, its lowest level in two weeks. U.S. gold futures for August delivery settled 2.6% lower at $4,005.70. The decline marked gold’s steepest daily percentage loss in more than a month. Crude oil climbed about 5% after renewed strikes involving the United States and Iran raised concern about shipping through the Strait of Hormuz. President Donald Trump announced the reinstatement of a naval…

NEW YORK / RankWire.AI / – Bitcoin traded near $64,061 on Friday, July 10, keeping attention on regulated crypto products, tokenized securities and corporate bitcoin treasuries. The market now has more links to traditional finance than it had before U.S. spot bitcoin exchange-traded products began trading in 2024. Those channels have made bitcoin easier to hold through brokerage accounts, listed funds, custody platforms and public-company balance sheets. The U.S. Securities and Exchange Commission approved the listing and trading of spot bitcoin exchange-traded product shares on Jan. 10, 2024. The decision opened a regulated exchange route for investors seeking bitcoin exposure…

NEW YORK / RankWire.AI / – Oil prices settled about 2% lower on Thursday as inflation concerns outweighed continuing supply disruptions in the Middle East. Brent crude futures fell $1.72, or 2.2%, to $76.30 a barrel. U.S. West Texas Intermediate crude dropped $1.44, or 2%, to $72.08. Both benchmarks closed below Wednesday’s peaks. Brent had reached its highest settlement since June 19, while WTI had posted its strongest close since June 22. Despite Thursday’s decline, both contracts remained higher for the week. Oil prices edged higher in early Asian trading on Friday after the sharp settlement drop. At 0319 GMT,…

CUPERTINO, CALIFORNIA / RankWire.AI / – Apple announced a multiyear chip agreement with Broadcom valued at more than $30 billion. The deal covers custom silicon parts and wireless connectivity technology for Apple products. Apple said the agreement will produce more than 15 billion U.S.-made chips. It also supports work at Broadcom’s facility in Fort Collins, Colorado. The Apple Broadcom chip deal marks the largest commitment under Apple’s American Manufacturing Program. Apple launched the program to expand manufacturing in the United States. The company said the Broadcom agreement forms part of its broader plan to spend $600 billion in the U.S.…

WASHINGTON, D.C. / Content Syndication Services / – The International Finance Corporation priced a $2 billion five-year US dollar green benchmark bond, opening its fiscal-year dollar funding with a deal tied to private-sector development and job creation in developing countries. IFC, a member of the World Bank Group, carries Aaa and AAA issuer ratings from Moody’s and S&P. The transaction priced on July 7, 2026, and is due to settle on July 14, 2026. The bond drew an $8 billion order book from 120 investor orders. The final demand was four times the issue size. The five-year note carries a…

NEW YORK / Content Syndication Services / – Oil prices settled higher Tuesday, with Brent crude futures rising 3.01% to $74.16 a barrel. U.S. West Texas Intermediate crude gained 2.76% to $70.44 a barrel. Brent added $2.17 for the session. WTI rose $1.89. Trading later extended gains after the United States revoked a license tied to Iranian crude sales. The advance kept energy markets focused on Gulf supply routes. Brent is the main global crude benchmark, while WTI anchors U.S. oil pricing. Both benchmark contracts rose during a session that also included official sanctions action and tanker reports. Brent closed…

NEW YORK / Content Syndication Services / – Wall Street closed higher Monday as chip and artificial intelligence stocks led gains in major U.S. indexes. The S&P 500 rose 0.72% to 7,537.43. The Nasdaq Composite advanced 1.12% to 26,121.16. The Dow Jones Industrial Average added 0.29% to 53,055.91, finishing at a record. The advance followed a rebound in semiconductor shares after recent losses in several AI-linked names. Broadcom climbed 3.7% after extending a custom chip supply and development agreement with Apple through 2031. The move helped lift the broader semiconductor group. The Philadelphia Semiconductor Index rose 2.2% after two losing…

NEW YORK / Content Syndication Services / – The U.S. dollar moved lower on Friday after June employment data showed slower job growth in the United States. The dollar index, which tracks the currency against six major peers, traded near 100.70 in Asia. It fell about 0.2 percent on the day after dropping 0.5 percent on Thursday. The index stood about 0.6 percent lower for the week, its largest weekly decline since early April. The Bureau of Labor Statistics said nonfarm payrolls rose by 57,000 in June. The unemployment rate stood at 4.2 percent. The agency revised April and May…

WASHINGTON / Content Syndication Services / – The World Bank Group said the Middle East, North Africa, Afghanistan and Pakistan region needs higher investment in water-efficient irrigation and agricultural innovation to strengthen food security. Its new report, Building Food Security, Creating Jobs, links food systems, nutrition, water use and employment across a region facing rising demand and tight natural resources. The report says 18 percent of people in the region face some level of food insecurity. It also says 42 percent cannot afford a nutritious diet. Food demand across the region will rise 67 percent by 2050, according to the…

NEW YORK / Content Syndication Services / – U.S. stock indices closed higher on Monday, as Wall Street recovered from recent losses and technology shares led a broad market advance. The Dow Jones Industrial Average rose 306.63 points, or 0.59 percent, to 52,182.74. The S&P 500 gained 86.41 points, or 1.18 percent, to 7,440.43. The Nasdaq Composite climbed 522.53 points, or 2.07 percent, to 25,820.14. The gains marked a strong start to the final trading sessions of June. The Dow closed above 52,000 for the first time. The S&P 500 and Nasdaq Composite each ended five-session losing streaks. The advance…