BUSINESS
Anthropic tells judge billions at stake if US shuns AI tool
Michael Mongan, an attorney for Anthropic, argued Tuesday that the federal government’s actions have led to more than 100 enterprise customers contacting the company to express doubt about continuing their work with Anthropic.
BUSINESS
Global LNG hunt intensifies as Middle East conflict cuts supply
The situation is diminishing the odds that a long-awaited LNG supply glut will materialize this year.
BUSINESS
Oil drops on reserve release report, stocks gain
The release would exceed the 182 million barrels of oil that IEA member countries put onto the market in two releases in 2022 when Russia launched its full-scale invasion of Ukraine
BUSINESS
Spiking pump prices dent Trump’s willingness to extend Iran war
Trump’s war with Iran has fueled one of the biggest spikes in gasoline prices in recent decades, lifting pump prices to the highest levels he’s seen as president.
WORLD
China irked by last minute scramble to plan Xi-Trump summit
China’s Foreign Ministry said both sides “maintain communication on the interaction between the two heads of state,” without elaborating.
WORLD
Amazon looks to raise at least $37 billion through bond sale
The tech giant is targeting the equivalent of about $37 billion to $42 billion in a cross-Atlantic offering in dollars and euros, according to people with knowledge of the matter.
WORLD
Dubai sees biggest return of Gulf flights amid Iran missiles
Emirates, the world’s largest international carrier, is operating a reduced flight schedule to about 100 destinations in more than 50 countries
WORLD
G-7 tasks IEA with preparing scenarios for oil-stockpile release
The G-7 wants to be ready to deploy oil reserves if needed, and tasked the International Energy Agency with studying the volumes that could be released
MARKETS
US stocks rise as oil extends rout on stockpile talks
The S&P 500 wiped out losses as US crude tumbled to $83 after the Group of Seven nations tasked the International Energy Agency with studying the volumes that could be released
BUSINESS
Nvidia to invest in Thinking Machines Lab and supply AI chips
Thinking Machines will use Nvidia’s forthcoming Vera Rubin AI accelerators as part of a multiyear agreement, the companies said
WORLD
India snaps up 30 million barrels of Russian oil after US waiver
India had been winding down its purchases of Russian oil since last year in response to US pressure, filling the gap with replacement barrels from Saudi Arabia and Iraq — only to find supplies cut off by a widening conflict in the Middle East.
BUSINESS
Gold rises after Trump signals Iran conflict may be nearing end
Any sign that the White House is prepared to end the war with Iran — now in its second week — could lift some of the pressure that has weighed on gold.
WORLD
Asia’s fuel crunch forces four-day weeks and school closures
Upheaval has spread across the Middle East and beyond since the US and Israel launched strikes on Iran on February 28
BUSINESS
State Bank of India shuns Russian oil payments despite US reprieve
The state-owned bank believes that engaging in such business could expose it to risks as it has a sizable loan portfolio in global markets, and also hurt its reputation
COMPANIES
SpiceJet chairman says crude oil even at $90 is ‘unsustainable’
Indian carriers have hiked prices on long-haul routes by 15%, Bloomberg News reported Monday
INDIA
US told allies further oil sanctions easing would focus on India
The US has already granted a waiver for India to import Russian oil that is at sea
BUSINESS
Vast ship clusters and speeding tankers point to Hormuz jamming
The maritime artery is a key focus for investors at present because its effective closure during the conflict has thrown the global energy market into disarray, forcing Persian Gulf producers to lock-in oil output as storage capacity runs out.
BUSINESS
'Downright panic': Traders tested to limits on oil’s wild Monday
Benchmark contracts for oil — the world’s most traded commodity — surged as much as 29% on Monday following a weekend of unrelentingly negative news from the deepening crisis in the Middle East.
BUSINESS
Gold rises after Trump signals Iran conflict may be nearing end
Bullion rose as much as 0.9% to top $5,180 an ounce, wiping out a decline in the previous session.
BUSINESS
Pentagon official sees little chance to revive Anthropic AI deal
Emil Michael, the under secretary of defense for research and engineering, said Monday that Anthropic’s lawsuit was an “expected reaction” and that the company’s attempt to reverse the supply-chain declaration wouldn’t alter the Pentagon’s decision.
BUSINESS
Apple now makes about 25% of iPhones in India after China pivot
Apple has accelerated its expansion in India in recent years, bolstered by PM Modi’s production-linked incentives (PLI) aimed at turning the country into the world’s factory. Apple currently assembles all versions of iPhone 17 in India, including the high-end Pro and Pro Max models.
WORLD
OpenAI buying AI security startup Promptfoo to safeguard AI agents
OpenAI and its rivals are racing to develop more advanced AI agents that can field complex tasks on a user’s behalf, with limited need for human intervention
BUSINESS
US stocks rebound as oil retreats from $120 spike amid Iran war concerns
Energy markets had earlier shaken investor confidence. Oil surged close to $120 per barrel as escalating tensions in the Middle East raised fears over disruptions to production and shipping routes.
BUSINESS
G-7 ready to release oil stockpiles if needed to help supply
Brent oil futures surged as much as 29% at one stage on Monday before sharply paring their gains when it emerged that the G-7 would discuss a possible stockpile release
