US Politics & Business News
Federal Reserve Chairman Kevin Warsh is sending a clear message to financial markets: the fight against inflation is not over, and rate cuts are not coming soon. Warsh’s hawkish tone reverberated across trading floors, with bond investors rapidly repricing expectations for central bank policy in the months ahead. A widely held narrative that Warsh was…
SpaceX raised $25 billion in a debt sale less than two weeks after its record initial public offering sent shockwaves through global markets. The company had initially signaled plans to raise $20 billion through a senior unsecured notes offering, but surging demand pushed the final figure to $25 billion. SpaceX received nearly $90 billion worth…
The AI sector endured its most significant correction of 2026 in June, with the Nasdaq Composite plunging more than 4% in a single session. Semiconductor stocks shed more than $1.3 trillion in combined market value during the brutal stretch, rattling investors who had grown accustomed to relentless AI-driven gains. The downturn was primarily triggered by…
Brent crude futures settled down 4.34% at $71.99 a barrel on Friday, while U.S. West Texas Intermediate futures dropped 3.74% to close at $69.23 a barrel. For the week, Brent crude fell nearly 10% and WTI declined roughly 8.5%, marking another sharp losing stretch for global oil benchmarks. An initial accord to end the U.S.-Israeli…
Uber (UBER) is quietly committing $500 million to secure robotaxi supply, making it the biggest spender in autonomous vehicles despite manufacturing nothing itself. Tesla (TSLA) had pledged to launch unsupervised robotaxi service in Phoenix, Las Vegas, Miami, Orlando, and Tampa during the first half of 2026, but none of those markets have entered service. Tesla’s…
Shipping traffic through the Strait of Hormuz is recovering one week after the United States and Iran signed an interim peace deal to reopen the critical waterway. Between June 15 and 21, 125 transits were recorded through the strait, marking the highest weekly total since the war began in late February. Tankers have been rushing…
Iraq threatened to leave OPEC if it is not permitted to produce oil more freely, following the UAE’s formal departure from the group on May 1. The threat marks a potential tipping point for an organization that has spent much of 2026 struggling to manage a global oil market upended by conflict. Iraq is the…
The International Maritime Organization has paused its Gulf evacuation plan after a container ship was struck by an unknown projectile near the Omani coast. The attacked vessel, flagged in Singapore and owned by shipping giant Evergreen (EGSV), was hit on Thursday in the Gulf of Oman, raising immediate safety concerns. A U.S. official told media…
The buzz around SpaceX and upcoming mega-IPOs from OpenAI and Anthropic has generated breathless commentary, but most of it misses the point entirely. SpaceX stock is simply not a good buy, and when OpenAI and Anthropic eventually come to market, those shares likely won’t be either. That distinction matters enormously, because confusing a bad IPO…
Iran’s Islamic Revolutionary Guard Corps issued a stark warning to global shipowners, declaring any new Hormuz transit route established without Tehran’s coordination “unacceptable and dangerous.” The warning signals Iran’s firm intention to retain operational control over the Strait of Hormuz, one of the world’s most critical energy chokepoints. The IRGC Navy stated that only shipping…