Senior Israeli officials said this week that their military campaign against Iran could trigger the fall of the regime, an event that would have enormous implications for the global oil market.The oil market has reacted with remarkable restraint as Israel has bombed the third-largest crude producer in OPEC for eight straight days, with no clear sign the conflict will end anytime soon.Oil prices are up about 10% since Israel launched its attack on Iran a week ago, but with oil supplies so far undisturbed, both U.S. crude oil and the global benchmark Brent remain below $80 per barrel.Rising risk Still,…
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Mark Zuckerberg, chief executive officer of Meta Platforms Inc., during the Meta Connect event on Wednesday, Sept. 25, 2024.Bloomberg | Bloomberg | Getty ImagesWhen Mark Zuckerberg feels the heat, he opens his wallet.The 41-year-old Facebook founder and Meta CEO is on a spending spree like never before in an effort to position his company at the forefront of the artificial intelligence boom and make up for recent costly mistakes in a market that’s rapidly revolutionizing the business world.Following last week’s stunning $14.3 billion investment in Scale AI, which brought with it Meta’s hiring of the startup’s founder, Alexandr Wang, and…
Seawater is pumped out of the wreckage of the ‘Bayesian’ yacht, owned by the late British tech entrepreneur Mike Lynch, as it is recovered by the floating crane ships HEBO LIFT 10 and HEBO LIFT 2 off the coast of Porticello, near Palermo, Sicily, Italy, on June 21, 2025.Igor Petyx | ReutersSalvage experts lifted Mike Lynch’s sunken superyacht to the surface and began pumping seawater out of it on Saturday, 10 months after it sank off the coast of Sicily, killing the British tech tycoon, his teenage daughter and five others.Work resumed at first light, with one of the most…
Kilito Chan | Moment | Getty ImagesElectricity prices are rising quickly for U.S. households, even as overall inflation has cooled.Electricity prices rose 4.5% in the past year, according to the consumer price index for May 2025 — nearly double the inflation rate for all goods and services.The U.S. Energy Information Administration estimated in May that retail electricity prices would outpace inflation through 2026. Prices have already risen faster than the broad inflation rate since 2022, it said.”It’s a pretty simple story: It’s a story of supply and demand,” said David Hill, executive vice president of energy at the Bipartisan Policy…
Wall Street will continue to monitor the Iran-Israel war next week, with stocks at a bit of an impasse as investors await greater clarity on the economic outlook. The S & P 500 remains on the cusp of an all-time high, more than 2% off a February peak it has yet to clear as investors eye an escalating conflict in the Middle East, the Federal Reserve’s next move, the progress in Washington of the “one big beautiful bill” — all amid ongoing trade uncertainty and signs of softening in the economy. Whether stocks can continue to chart a path higher…
Dr. Catherine Mazzola, a pediatric neurosurgeon, runs a practice she says is in serious jeopardy because of recent moves by UnitedHealth Group.Zach Gross for NBC NewsDr. Catherine Mazzola, a pediatric neurosurgeon, runs a practice in New Jersey that treats low-income children on Medicaid. Since 2008, she has cared for boys and girls with cerebral palsy, spina bifida and other neurological disorders. But now, her practice is in serious jeopardy, she says, because of recent moves by the insurance and health care giant UnitedHealth Group.The story begins in February 2024, when a unit of UnitedHealth experienced a massive hack. The unit, Change Healthcare, shuttered its…
A missile is intercepted over Tel Aviv on June 20, 2025, after a Iran fired a fresh salvo of missiles.John Wessels | Afp | Getty ImagesIran and Israel exchanged fresh attacks early on Saturday, a day after Tehran said it would not negotiate over its nuclear programme while under threat and Europe tried to keep peace talks alive. Iran’s Fars news agency said Israel had targeted the Isfahan nuclear facility, one of the nation’s biggest, but there was no leakage of hazardous materials. Iranian media also said Israel had attacked a building in the city of Qom, with initial reports…
Germany is making bold moves to modernize its sluggish economy. Will it be enough? Source link
QINGZHOU, CHINA – JUNE 16, 2025 – Citizens are viewing sand table at the sales office of a commercial residential property development in Qingzhou City, Shandong Province, China on June 16, 2025. Cfoto | Future Publishing | Getty ImagesChina’s real estate sector has grappled with a deepening downturn for years. Now a shrinking population is casting another shadow over the stagnant property market.Goldman Sachs estimates that demand for new homes in Chinese urban cities will remain suppressed at under 5 million units per year in the coming years — one fourth of the peak of 20 million units in 2017.”Falling…
FILE PHOTO: The headquarters of the U.S. Food and Drug Administration (FDA) is seen in Silver Spring, Maryland November 4, 2009. Jason Reed | ReutersA version of this article first appeared in CNBC’s Healthy Returns newsletter, which brings the latest health-care news straight to your inbox. Subscribe here to receive future editions.The Food and Drug Administration proposed a dramatic expansion of its power to speed up drug reviews. The agency on Tuesday announced a new national priority voucher plan that aims to cut drug review times to one-to-two months for companies it says are supporting “U.S. national interests.” Currently, the FDA has a…
