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Oil prices climbed for a second consecutive session on Tuesday after OPEC+ announced a smaller than expected production increase for November, easing investor concerns over a potential supply glut. The restrained output decision suggests the coalition remains wary of oversupplying the global market amid mixed economic signals and ongoing geopolitical tensions. By 0623 GMT, Brent … Read more
TOKYO — Microsoft Corp. has entered a new solar deal in Japan, purchasing 100 megawatts of capacity from local developer Shizen Energy to supply its growing data center operations with clean power. Announced late last week, the 20 year agreement covers four solar projects across Japan one already operational and three under construction. The deal … Read more
NEW YORK — Verizon Communications on Monday named Dan Schulman, the former chief executive officer of PayPal, as its new CEO, replacing Hans Vestberg in a leadership transition designed to steer the telecommunications giant through a period of slowing growth and rising competition in the US wireless market. The move marks one of the most … Read more
CINCINNATI — In a major move signaling continued consolidation among regional lenders, Fifth Third Bancorp announced Monday it will acquire Comerica Inc. in an all stock deal valued at $10.9 billion. The Fifth Third Comerica deal will create the ninth largest US bank, with combined assets of approximately $288 billion, expanding the institution’s footprint across … Read more
SAN FRANCISCO — Shares of Advanced Micro Devices (AMD) surged more than 25% in premarket trading Monday after OpenAI announced plans to acquire up to a 10% stake in the semiconductor company as part of a sweeping partnership to deploy AMD’s high performance Instinct GPUs for artificial intelligence infrastructure. The agreement one of the largest … Read more
LONDON — OPEC+ has agreed to raise oil production by a modest 137,000 barrels per day (bpd) beginning in November, maintaining the same gradual pace as October, according to three sources familiar with the decision. The move underscores the group’s cautious approach amid competing pressures from leading members Saudi Arabia and Russia, fluctuating global demand, … Read more
The S&P 500 edged slightly higher Friday, retreating from record territory but capping a strong week as investors looked past the third day of a US government shutdown and weighed a murky economic outlook clouded by missing labor data. The benchmark index closed nearly flat, up 0.01% at 6,715.79, while the Nasdaq Composite slipped 0.28% … Read more
OMAHA, Neb. — Warren Buffett’s Berkshire Hathaway announced Thursday it reached an agreement to purchase Occidental Petroleum’s petrochemical division, OxyChem, for $9.7 billion in cash marking the conglomerate’s largest acquisition since 2022 and one of Buffett’s final major deals before stepping down as CEO. The transaction reflects Berkshire’s confidence in the industrial and chemical sectors … Read more
BEAVERTON, Ore. — Nike Inc. reported Tuesday that its quarterly profit dropped 31 percent despite a modest increase in revenue, as the sportswear giant continues to navigate rising costs and execute a broad turnaround strategy under its relatively new leadership. The footwear and apparel company said net income for the quarter ended Aug. 31 fell … Read more
NEW YORK — Stock futures fell Tuesday as investors braced for a potential US government shutdown, even as Wall Street’s major indexes remained on track to close out September with solid gains. The pullback comes amid heightened political uncertainty and cautious optimism about the broader economy. The S&P 500, which typically struggles in September, has … Read more
