Foreign demand for US investment-grade corporate bonds has remained strong for 15 consecutive months, according to a note by Citigroup, as cited in a Reuters reports. Overseas investors are increasingly rotating into technology, media and telecom (TMT) debt while reducing exposure to financial bonds. This trend comes despite recent concerns over rising corporate debt levels,
In a seismic shift for the global oil market, the United Arab Emirates has confirmed its exit from OPEC and OPEC+, effective May 1. The move, announced Tuesday by the country’s state news agency WAM, ends nearly six decades of membership and removes the cartel’s third-largest producer, marking one of the most consequential departures in
Standard Chartered said on Tuesday it has launched a new framework allowing institutional clients to use BlackRock’s tokenised short-term US Treasury fund as collateral on the crypto trading platform OKX. The lender has partnered with BlackRock and OKX to enable VIP and institutional clients on OKX Middle East to use the BlackRock USD Institutional Digital
Semiconductor stocks declined sharply on Tuesday, with Nvidia and its peers coming under pressure after fresh concerns emerged about the financial trajectory of OpenAI. Nvidia shares fell about 1.5% in trading, reversing some of the previous session’s gains when the stock closed at a record high after rising 4%. The chipmaker had recently broken out
Gold slumped to a three-week low on Tuesday as energy prices climbed due to stalled negotiations between the US and Iran. Meanwhile, crude oil rose sharply as the Strait of Hormuz remained shut, thereby affecting the free flow of shipments. However, oil prices trimmed some gains as the United Arab Emirates announced that it will
Shell Plc has agreed to acquire Canadian energy producer ARC Resources Ltd. in a deal valued at about $13.6 billion, as the oil major looks to strengthen its reserves base and expand production. The transaction, which also includes the assumption of roughly $2.8 billion in debt, values ARC at a premium to its recent trading
Big Tech is entering an intensifying race to secure reliable, long-term energy as the rapid expansion of artificial intelligence drives an unprecedented surge in data centre power demand. This is forcing companies to lock in everything from nuclear and geothermal to experimental sources such as fusion and even space-based solar. Against this backdrop, Meta Platforms
Corning stock price continued its strong uptrend and is now hovering at its all-time high as it became a big winner in the artificial intelligence (AI) space. This rally may come into question on Tuesday as the company publishes its financial results. Corning stock price is soaring as the AI hype continues Corning, the biggest
Wall Street’s main indexes were muted on Monday, as stalled peace talks between the United States and Iran and rising oil prices kept investors cautious ahead of a crucial week for earnings and monetary policy. The S&P 500 slipped about 0.04%, while the Nasdaq Composite declined 0.28%. On the other hand, Dow Jones Industrial Average
Shipping data on Monday indicated that at least seven vessels, primarily dry bulk carriers, traversed the Strait of Hormuz over the last 24 hours. This level of activity is consistent with the subdued pace observed recently, occurring as talks between Iran and the United States remain stalled. According to ship tracking data from Kpler and