The Dutch bank expands its private banking footprint by taking a minority stake in the Spanish wealth manager. ING announced the acquisition of a 40% stake in Singular Bank, a Spanish wealth management firm, from private equity group Warburg Pincus. The move aims to bolste
May data shows a rebound in manufacturing demand, driven by vehicle construction and capital goods orders, offsetting April’s decline. German factory orders increased 1.9% month-over-month in May, surpassing the 1.5% consensus forecast. The rise follows a revised 3.2% drop
Refiners charged with collusion causing $17 billion harm South Korean prosecutors have charged all four refiners in the country with collusion on fuel prices. The alleged collusion resulted in $17 billion in harm and involved coordinating fuel price increases after
Holders of Trump’s self-branded memecoin and World Liberty Financial token face collective losses exceeding $3.8 billion after sharp declines. Investors in Donald Trump’s self-branded memecoin have lost over $3.8 billion as the token’s value collapsed by 97% from its peak
OECD inventories fell by 163 million barrels to their lowest level since 1990, delaying Iran's leverage over Hormuz despite recovering prices. OECD oil inventories dropped to their lowest level since December 1990, declining by 163 million barrels between March and May. Th
Tehran announces new fees for vessels in the Strait of Hormuz, citing territorial rights, while dismissing third-party involvement in mine clearance. Iran will introduce service fees for ships transiting the Strait of Hormuz, its ambassador to China said, framing the charg
Apple, Microsoft, and Amazon struggle to secure electricity for AI-driven data centers amid surging demand. Big Tech firms including Apple, Microsoft, and Amazon confront a $3 trillion challenge securing sufficient electricity for expanding data centers. Demand for power h
Iran and Japanese buyers discuss resuming crude sales for the first time since 2019 under a temporary US sanctions waiver expiring August 21. Iran has initiated discussions with Japanese refiners to resume oil sales under a US sanctions waiver granted June 22, set to expir
At least eight vessels U-turned over the weekend as Iran enforced its transit route, disrupting oil flows and lifting freight costs. At least eight ships, including oil tankers and bulk carriers, reversed course in the Strait of Hormuz over the weekend after Iran asserted
Regulatory concerns over single-stock leveraged ETFs may trigger new restrictions, amplifying volatility in Korea’s largest tech stocks. The Bank of Korea warned that leveraged ETFs tied to Samsung Electronics and SK Hynix could deepen market concentration and amplify intr
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