BUSINESS
Pernod, Jack Daniel's maker Brown-Forman are in merger talks
The family owners of both companies will likely both roll large stakes into the new company, with a deal still a few weeks away, the people familiar with the matter said.
BUSINESS
Musk rips Twitter verdict, claims jury's $4.20 'joke' mocked him
The jury found Musk misled the investors in 2022 when he tweeted that Twitter — now called X — had too many fake accounts and then tried to back out of his $44 billion offer to buy the company.
BUSINESS
Claude AI maker Anthropic considers IPO as soon as October
The maker of the popular Claude chatbot has had early discussions with Wall Street banks about taking leading roles on a potential listing.
WORLD
Malaysia says Iran has allowed some of its ships through Hormuz
Malaysia is a significant oil and gas producer, but it also imports crude from the Middle East and is heavily dependent on the Strait.
MARKETS
Oil slips, US stock futures gain on Iran extension
Brent crude oil slipped 1.9% to around $106 a barrel following Trump’s 10-day extension to the deadline for Iran to strike a deal with the US or face more attacks. Even so, oil is up more than 70% this year.
WORLD
Gold pares losses as Trump extends deadline for Iran war talks
Gold rebounds to $4,401 an ounce as Trump delays Iran strikes, easing market jitters after a nearly 17% drop since the war began.
WORLD
Scott Bessent says insurance program for Hormuz ships to start soon
Bessent’s remarks were delivered amid increasing concern about spiking oil and gas prices during the Iran war — and the threat that energy supply shocks will endure even once conflict ends.
WORLD
Maduro appears in court to fight narco-terrorism case
Ousted Venezuelan leader Nicolás Maduro appeared in a Manhattan court as US prosecutors pressed ahead with a major drug-trafficking case that could carry a life sentence if he is convicted.
MARKETS
Institutional sell-off triggers $9.3 billion outflow from US equities
The latest sell-off marks a notable acceleration from the previous week’s $1 billion outflow, taking the cumulative 16-week outflows to $25.5 billion
WORLD
Ukraine says it hit Russia’s major Baltic refinery Kirishi
The facility, which has a design capacity of over 400,000 barrels a day, focuses on producing diesel, gasoline and fuel oil, with a significant proportion of light-product fuels sent for exports.
MARKETS
An 800-year-old math principle may help find bottom to S&P 500’s rout
The bad news for bulls: It signals a long way down before the index finds major support.
WORLD
US continuing jobless claims drop to lowest in almost two years
Continuing claims, a proxy for the number of people receiving benefits, fell by 32,000 to 1.819 million in the week ended March 14, the lowest since May 2024
WORLD
Iran war is pushing consumers to break up with fossil fuels
A shortage of cooking oil in India is driving a run on electric stoves. From Germany to Nigeria, interest in rooftop solar is surging. And in the UK, some homeowners are taking the plunge on expensive heat pumps.
BUSINESS
Gold declines as Trump threatens Iran with military escalation
Bullion fell as much as 2.1% to dip below $4,420 an ounce before paring some losses
MARKETS
US stocks fall and oil rises as Iran war ceasefire hopes wane
Equities fell around the world, driving the S&P 500 down about 1%. Brent climbed to around $107.
BUSINESS
Chip selloff deepens after Google touts memory breakthrough
Four hyperscalers, led by Amazon.com Inc. and Google, plan to spend about $650 billion this year to build data centers, scooping up Nvidia Corp.’s AI accelerators and related memory chips.
WORLD
‘Five Nights at Epstein’s’ game goes viral at US school campuses
Five Nights at Epstein’s is sweeping through classrooms across the country — from Utah to North Carolina — supercharged by videos on social media that show young boys and girls playing in class
WORLD
Iran rakes in millions of dollars as Strait of Hormuz crisis lifts oil revenues
Iran is also bringing in extra income by charging transit fees of as much as $2 million on some commercial ships crossing the strait.
WORLD
Asia braces for worst-case oil scenario as Iran war drags on
PM Modi warned the war could cause unprecedented challenges for the nation
BUSINESS
Vedanta's Cairn targets 1 million barrels a day, looks to US shale to cut import reliance
Cairn executives are in Houston this week looking to spend as much as $5 billion with oilfield contractors who will help the company develop fields at home that include shale formations, Vedanta Chairman Anil Agarwal said during an interview.
BUSINESS
Fed Chair nominee Warsh may need 5 years to really shrink central bank’s balance sheet
Once Warsh is confirmed to the post by the US Senate, he could institute some of the reforms more or less right away, provided he has buy-in from his colleagues. Others could take up to five years, a longtime adviser to the Fed said, which would imply an effort extending beyond Warsh’s four-year term as chair.
WORLD
Gold steadies as investors weigh outlook for US-Iran peace talks
Gold steadied after recent losses as investors weighed mixed US-Iran signals, with prices edging up slightly amid inflation concerns and rate uncertainty.
WORLD
Disney CEO’s first week marred by ‘Fortnite,’ OpenAI woes
A watershed deal Disney struck with OpenAI late last year dissolved suddenly on Tuesday when the artificial intelligence startup announced it was closing down its Sora video generator app in an effort to streamline its product lineup
TECHNOLOGY
Meta, Google found liable in social media addiction case
Jurors said Meta must pay at least $2.1 million in damages, and Google must pay at least $900,000. The jury will hear more arguments on whether to also impose punitive damages on the companies.
