Saudi Aramco is expanding its partnership with China by investing in petrochemicals and low-carbon technologies, aligning with China's energy security and sustainability goals.
Industry
European Shares Gain While Dollar Weaken as Fed Signals Rate Cuts Ahead
European and US share prices rose on August 22 following Federal Reserve signals of potential interest rate cuts, while the dollar remained weak and oil prices stabilized after a recent decline.
Red Sea Oil Tanker Attack to Possibly Increase Insurance Costs and Cause Trade Disputes
A Greek oil tanker, the Sounion, was set on fire and left drifting in the Red Sea after an attack by gunfire from small boats off Yemen, raising environmental and insurance concerns.
Canadian Company Proposes to Buy 7-Eleven for $37.5 Billion
Canada's Alimentation Couche-Tard has made a $37.5 billion bid to acquire 7-Eleven, valuing 7-Eleven at twice its previous Tokyo listing.
Gold Hits Record Highs of $2,540.8 per Ounce, Analysts Predict $3,000 by 2025
As of August 19, gold prices have hit new highs, with spot gold at $2,508.14 per ounce and U.S. futures at $2,540.8 per ounce, amid rising expectations that prices could reach $3,000 by mid-2025.
Latest News
Walmart's Q2 revenue hit $169.34 billion, exceeding expectations, with a 4.8% increase from last year and a 9.8% rise in adjusted earnings per share.
Huawei is set to launch its Ascend 910C AI chip, designed to rival Nvidia’s restricted H100, with initial orders expected to top $2 billion.
As markets await crucial inflation data this week, investors hope it will allow the Federal Reserve to implement its anticipated interest rate cut next month amid recent market stability.
Yum Brands fell short of revenue expectations in the second quarter as Pizza Hut and KFC struggled with declining same-store sales, while Taco Bell saw a 5% increase.
World's largest oil company, Saudi Aramco, reported a 3% decline in second-quarter profits to $29.1 billion due to lower crude production but still plans to pay $124.2 billion in dividends this year.
The Blackwell B200 AI chips will now take at least three more months to produce. Nvidia Corp. 's upcoming artificial intelligence chips are now facing production delays due to a design flaw, according to a report.
Groq was originally looking to raise $300 million at a slightly lower valuation. Groq, an artificial intelligence chipmaking startup, has secured more than $600 million in a recent funding round, the company announced Monday.
The ruling could force Google to allow users to choose which search engine to use. A federal judge on Monday ruled that Alphabet's Google broke antitrust laws and held an illegal monopoly in the United States in a landmark ruling against the tech giant.
The move came after Musk slammed California's SAFETY Act last month. X, the social media company formerly known as Twitter and owned by Elon Musk, is now preparing to shut its San Francisco office and move to Texas, according to an internal email sent to employees on Monday.
