Gas prices surge amid Strait of Hormuz closure The global economy is at risk of recession due to the closure of the Strait of Hormuz, with gas prices jumping from $2.98 to $4.39. The Strait's closure has resulted in a significant disruption to global energy markets, w
US skips Taiwan discussion with China despite $11 billion arms sales The US has avoided discussing Taiwan with China, despite a record $11 billion in arms sales to the island. The US had announced the arms sales in December, against Beijing's wishes. The topic wa
CFTC has one commissioner amid crypto regulation debate The CFTC currently has only one commissioner, Michael Selig, after the resignation of acting chair Caroline Pham in December 2025. Selig has taken many positions aligning with the administration’s policies, inclu
Ministers suggest Keir Starmer may resign if Andy Burnham secures victory in the Makerfield by-election, citing private discussions. Speculation over UK Prime Minister Keir Starmer’s leadership has intensified amid reports he may step down if Andy Burnham wins the Makerfie
XAU/USD falls to $4,551 as rising US yields and delayed Fed cuts weigh on bullion amid geopolitical risks. Gold prices slid more than 2% on Friday, with XAU/USD trading at $4,551 after hitting a low near $4,511. The decline follows concerns that escalating US-Iran tensions
The new fund tracks HYPE token amid rising institutional demand and $5 billion USDC growth on Hyperliquid’s decentralized exchange. Bitwise Asset Management launched a US-listed Hyperliquid fund offering staking rewards, targeting institutional investors. The fund tracks H
"Rich Dad Poor Dad" author Robert Kiyosaki is once again warning about the future of the global economy, this time while pointing to silver as one of his strongest investments during rising inflation fears. In a May 11 post shared on X, Kiyosaki said strong investors are a
First-quarter US ethanol shipments rose 20% year-on-year, while Brazil’s exports may double in the new trading season. US ethanol exports reached 638 million gallons in the first quarter, a 20% increase from the same period last year, driven by heightened global fuel deman
Costco plans to pass on any tariff refunds to shoppers through lower prices, citing member-first policy amid ongoing trade uncertainty. Costco CEO Ron Vachris stated the company will return any tariff refunds to members via lower prices, aligning with its long-standing pol
Utilities report a 25x increase in data center interconnection requests, exposing grid vulnerabilities amid surging electricity demand projections. U.S. electricity demand is projected to grow 5.7% annually through 2030, a sharp rise from decades of sub-1% growth. Utilitie
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