Washington — On Monday, the U.S. Treasury Department issued a temporary 30-day general license allowing energy-vulnerable nations to access Russian crude oil already loaded on tankers and stranded at sea. Treasury Secretary Scott Bessent said the extension, announced this week, intends to stabilize physical crude markets and reroute supply to...
The United States saw sharp turbulence in energy and financial markets after President Donald Trump issued a stark warning to Iran on Truth Social, stating that “the clock is ticking” and urging Tehran to act quickly. The message, reported after a security call with Israeli Prime Minister Benjamin Netanyahu, raised...
United States: Global risk assets declined after a sharp sell-off in sovereign bond markets forced investors to rapidly reassess the interest rate outlook and unwind leveraged positions. The US 10-year Treasury yield climbed to 4.58%, its highest level in more than a year, while the UK 10-year gilt yield jumped...
HARRISBURG, Pa. Officials and lawmakers in at least six states — Arizona, Indiana, Maryland, New Jersey, New York and Pennsylvania — are contesting utility rate increase requests as electricity bills rise amid growing demand tied to developments in artificial intelligence this year. Attorneys general, governors and state regulators have initiated...
New York — United States financial markets reversed sharply on Friday, May 15, 2026, as a global bond sell-off and surging crude oil prices pushed long-term borrowing costs to their highest levels in years and knocked major equity indexes off record highs. The 30-year U.S. Treasury yield jumped 11 basis...
WASHINGTON. Jerome Powell is stepping down as chair of the Federal Reserve this week after eight years leading the central bank, during which post-pandemic inflation rose well above the Fed’s 2% target and policymakers lifted the key short-term rate to a two-decade high in 2023. Economists also note unemployment reached...
Gasoline prices in the United States have risen by $1.16 per gallon since the 2026 Iran war began, as the effective closure of the Strait of Hormuz restricts global oil and liquefied natural gas flows. Brent crude climbed a further 10% to 13% this week to around $80–$82 per barrel,...
United States financial markets are flashing prominent valuation warnings as the S&P 500 Shiller CAPE ratio climbs to 40, a level previously reached only in the late 1920s before the Great Depression and in 2000 ahead of the dot‑com bust. The measure, which compares current S&P 500 prices to a...
Teaneck, New Jersey-based Cognizant Technology Solutions plans to cut between 12,000 and 15,000 jobs worldwide in 2026 under a major restructuring program called “Project Leap,” marking one of the company’s largest workforce overhauls to date. The initiative, reported on May 12, 2026, is designed to shift Cognizant away from traditional...
WASHINGTON – U.S. President Donald Trump on Tuesday formally rejected Iran’s latest 14-point peace proposal, calling it “totally unacceptable” and a “piece of garbage,” and ordered preparations for an extended naval blockade of the Strait of Hormuz. The decision puts the fragile ceasefire in place since April 8 at risk...
