US oil major Chevron has sought non-binding bids for the sale of its 50% stake in Singapore Refining Company (SRC). This also includes bids from its joint venture partner PetroChina, Reuters reported on Thursday. Chevron is exploring the sale of additional assets in Asia, including its terminal and fuel storage facilities in…
As the US Fed is expected to keep benchmark interest rates unchanged, the US President intensified his long-standing criticism of Federal Reserve Chairman Jerome Powell.Speaking outside the White House on Wednesday, Donald Trump called Powell “stupid” and expressed strong doubt that the Fed would cut interest rates at the meeting,…
The Federal Reserve on Wednesday kept its benchmark interest rate unchanged, holding the target range at 4.25% to 4.5%, while continuing to signal that two rate cuts remain likely before the end of 2025. The decision came as the central bank faces a challenging mix of rising inflation and slowing…
Shares of cryptofirms Coinbase (COIN) and Circle (CRCL) surged on Wednesday after the US Senate passed the key stablecoin bill, the GENIUS Act, which will bring more legitimacy to stablecoins.Coinbase and Circle’s gainsCircle’s shares surged over 22% while Coinbase’s shares gained 14% after the bill was passed late Tuesday. Coinbase’s…
The UK’s high-speed rail project HS2 will not meet its scheduled 2033 completion date or stay within budget, Transport Secretary Heidi Alexander told Parliament on Tuesday, citing systemic failures, mismanagement, and rising costs. The announcement marks the latest setback for a troubled infrastructure programme once billed as a transformational project…
US markets closed largely unchanged on Wednesday after the US Federal Reserve kept interest rates unchanged. The central bank opted to maintain its benchmark interest rate at its current level, with Chair Jerome Powell indicating a cautious approach. Powell conveyed that the Fed would assess the impact of President Donald…
Nippon Steel’s CEO stated on Thursday that the US government’s golden share in US Steel will not impede the Japanese steelmaker from taking any management actions it deems appropriate.Confirming the agreement to grant the US government unusual power to help conclude the 18-month acquisition battle, Eiji Hashimoto spoke at a…
Hong Kong stocks tumbled sharply on Thursday as rising geopolitical tensions in the Middle East and the US Federal Reserve’s cautious stance on interest rates triggered a wave of risk aversion across Asian markets.By 2:09 pm local time, the benchmark Hang Seng Index had plunged 463 points to 23,247.38, breaching…
The Switzerland National Bank (SNB) cut interest rates by 25 basis points to 0% on Thursday, deepening its dovish stance amid renewed concerns over deflation and persistent strength in the Swiss franc.The widely anticipated move raises the possibility of Switzerland revisiting negative interest rates for the first time since 2022.“With…
The Crown Estate announced on Thursday that Equinor and Gwynt Glas have secured seabed leases. These leases will allow them to construct floating wind farms in the Celtic Sea, off the coasts of Wales and South West England.The Crown Estate, serving as the steward of the seabed surrounding England, Wales,…