Oil prices have surged as markets brace for potential Israeli strikes on Iran’s oil industry following recent missile attacks. President Joe Biden said, “We’re discussing that,” when asked about supporting Israel in targeting Iran’s oil facilities. Bobby Ghosh reports on Bloomberg Television.
Fidelity Investments plans to convert two of its municipal-bond mutual funds into exchange-traded funds, highlighting the growing popularity of the $10 trillion U.S. municipal bond market. This shift reflects increasing investor interest in more flexible investment options.
Southwest Airlines shares are on the rise following a significant purchase by board member Rakesh Gangwal, the billionaire co-founder of InterGlobe Aviation. He bought around $107 million worth of the airline's stock, as revealed in Securities and Exchange Commission filings on Thursday.
Turkish stocks have entered a bear market amid rising tensions in the Middle East, further impacting already weak investor sentiment. Local investors are increasingly wary, driven by economic uncertainties and reduced appeal of equities.
Shares of EVgo Inc. jumped significantly, marking their largest surge in over three years. This boost follows the announcement that the company has secured a conditional loan guarantee of up to $1.05 billion from the US Department of Energy. The funding will be used to expand EVgo's electric vehicle charging network.
Emerging-market currencies fell on Thursday as escalating tensions in the Middle East increased demand for the safe-haven dollar. Additionally, strong US economic data reinforced expectations that the Federal Reserve will slow down the pace of interest rate cuts.
Ghana has received strong support from its international bondholders to restructure $13 billion of eurobonds. This marks a significant step towards finalizing the nation's debt restructuring efforts. The overwhelming participation reflects confidence in Ghana's economic recovery strategy.
Citigroup Inc. has reached a settlement in an employment lawsuit with a former trader who was found to have been unfairly dismissed. A court ruled that he was scapegoated for the bank’s long-term regulatory failures in executing stock trades for clients in Asia.
The pound is set to experience its largest drop in over a year. This comes after Bank of England Governor Andrew Bailey indicated that the bank might consider a more aggressive strategy for cutting interest rates.
A leading economist in China has stated that the country can increase its fiscal support by issuing up to 10 trillion yuan, or about 1.4 trillion dollars, in special debt. This move comes as expectations grow for Beijing to boost public spending as part of a new stimulus package.
