The Western allies trying to negotiate a way to protect the Strait of Hormuz for energy shipping face a stark reality: a similar effort in the Red Sea that started years earlier cost billions of dollars and ultimately failed against Yemen’s Houthis. Source link
Deteriorating asset quality, collateral markdowns and a growing rush for the exits are rattling private credit markets and prompting comparisons to the Global Financial Crisis. But a spike in loan defaults, while painful, could help shake out pockets of stress from the $3 trillion sector and provide what one industry pro calls a “healthy reset”…
SAN FRANCISCO — Private equity firm Main Post Partners has acquired a minority stake in better-for-you pretzel maker Stellar Snacks. Main Post described the transaction as a “strategic growth” investment, financial terms of which weren’t disclosed. The company said the move comes as Stellar, with headquarters in Carson City, Nev., has driven “sustained national expansion”…
Microsoft has agreed to rent a data center project in Texas that was originally being developed for Oracle and OpenAI, Bloomberg News reported on Tuesday, citing people familiar with the situation. Source link
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FRANKFURT, Germany (AP) — The head of the European Central Bank says that businesses may be quicker to raise prices in response to the oil shock from the Iran war due to bitter memories of the inflation spike after Russia’s invasion of Ukraine in 2022. If oil and gas prices continue to rise, “the ……
Traders bet half a billion dollars on the price of crude only 15 minutes before U.S. President Donald Trump announced a five-day delay to attacks on Iran’s energy infrastructure that sent the market plunging, exchange data and Reuters calculations showed. Source link
Larry Fink says if oil prices stay high for a sustained period it will have “profound implications” for the world economy. Source link
The New Mexico case found tech giant Meta to have misled users and failed to protect children from predators in Tuesday’s ruling. A New Mexico jury on Tuesday ordered Meta to pay $375 million after finding the company violated state law by misleading users about the safety of its platforms and allegedly enabling child sexual…
United Airlines aircraft at Denver International Airport, Aug. 4, 2023. Antonio Perez | Chicago Tribune | Tribune News Service | Getty Images LOS ANGELES — United Airlines‘ formula for higher profits: fewer but better seats. The country’s second-most profitable carrier after Delta Air Lines on Tuesday unveiled new cabin designs, including on some of its…
