Economy

McKinsey to contribute $125 million to Purdue bankruptcy over opioid sales advice

Consulting firm McKinsey & Co has agreed to contribute $125 million to Purdue Pharma's bankruptcy settlement, resolving potential legal claims over

Dollar struggles to rebound as fragile US-Iran ceasefire keeps markets wary

A fragile calm reigned across currency markets on Thursday as traders kept their eyes fixed on whether the ceasefire between the U.S. and Iran would hold,

Panama president seeks to calm China tensions

Panamanian President Jose Raul Mulino on Thursday sought to calm tensions with China, striking a conciliatory tone a day after his foreign minister

US Postal Service seeks to hike stamp prices to 82 cents

The cash-strapped U.S.

US Treasury yield forecasts creep up, but strategists cling to benign inflation view: Reuters poll

U.S.

Oil pares gains to close up 1% as Israel plans peace talks with Lebanon

Oil prices closed up 1% but settled below $100 for the second straight session on Thursday in volatile trading as a fragile Middle East ceasefire held

SiFive raises $400 million from Atreides, Nvidia for data-center chip technology 

American Airlines, Alaska Air hike checked baggage fees amid soaring fuel prices

American Airlines and Alaska Air said on Thursday they are hiking checked baggage fees, as carriers seek to pass on soaring jet fuel costs linked to escalating tensions in the

OpenAI pauses UK data centre project over regulation, costs

ChatGPT-maker OpenAI is pausing its main data centre project in Britain over an unfavourable regulatory environment and high energy costs, dealing a blow to the

USTR's Greer sees no changes in data rules that bar Chinese vehicles from US

U.S.

Equities turn around on renewed Middle East hopes, oil pares gains 

MSCI's global equities gauge gained modestly on Thursday while the dollar lost ground and oil's rally narrowed, after Israel sought

CarMax settles with activist Starboard with two new board appointments

CarMax said on Thursday it would add Bill Cobb and Jim Kessler to its board in connection with its 2026 annual shareholder meeting, after activist investor Starboard Value pushed

StubHub to pay $10 million to settle FTC ticket price case

StubHub Holdings on Thursday agreed to pay $10 million to settle U.S.

US-Iran ceasefire: what we know

Here is what we know following Tuesday evening's dramatic reversal by U.S. President Donald Trump of his threats to attack Iran's civilian infrastructure. 

Trading Day: Ceasefire sends stocks higher

U.S. stocks rallied on Thursday, with the S&P 500 and Nasdaq clocking their seventh daily gain, as investors shrugged off a rise in oil prices

Wall Street flirts with a record after its big rally the last 2 weeks

U.S. stocks are flirting with a record following their big rally over the last two weeks

Ukraine's Zelenskyy pursues more arms deals with allies to help check Russia's invasion

Ukrainian President Volodymyr Zelenskyy says his country's top priority is securing help to buy and build more air defense systems

USA Rare Earth considers building French magnet plant

USA Rare Earth is considering building a magnet plant in France, its CEO said on Thursday, after agreeing to pay 40 million euros ($47 million) for a stake

How a retired cranberry bog helped change the game for wetland restoration

The largest restored wetlands in Massachusetts now cover hundreds of acres of what used to be cranberry farms

World Bank could mobilize at least $20 billion in post-war support, Bloomberg news reports

The World Bank Group could mobilize $20 billion to $25 billion in rapid financing to countries grappling with the economic fallout of the war in Iran, Bloomberg News reported on

Trump says Iran should not charge fees to tankers going through Strait of Hormuz

President Donald Trump said on Thursday Iran should not charge fees to tankers going through the Strait of Hormuz, which has been blockaded since the

Israel seeks Lebanon talks after bombardments threaten Iran truce

Israeli Prime Minister Benjamin Netanyahu said on Thursday he is seeking direct talks

Wall Street ends higher as Middle East peace talks lift sentiment

U.S. stocks advanced on Thursday, as ongoing negotiations toward a peaceful resolution to the six-week Middle East conflict helped ease

Wall Street sank on Iran war fears. Now it’s surging. Here’s why

Wall Street sank on Iran war fears. Now it’s surging. Here’s why

Fitch cuts FS KKR Capital rating to junk territory as asset quality weakens

Fitch Ratings on Thursday downgraded its rating on a private credit fund jointly run by Future Standard and KKR to junk territory, citing continued deterioration in its asset

Banker's payments to big names in Brasilia stoke election tensions

A Brazilian banker arrested last month on fraud allegations had paid millions to powerful figures across the political spectrum,

Prosecutors seek access to Federal Reserve building as Trump threatens to fire Powell

Federal prosecutors made an unannounced visit this week to a construction site at Federal Reserve headquarters that is the focus of an investigation into a $2.5 billion renovation project, according to two people familiar with the visit

Senate committee delays Fed nominee's hearing, Punchbowl reports

The U.S. Senate Banking Committee is no longer planning to hold a confirmation hearing for Kevin Warsh, U.S.

Pakistani delegation arrives in Tehran in move to ease tensions and arrange more US-Iran talks

Pakistan’s army chief has arrived for talks in Tehran in the latest diplomatic move to ease tensions in the region and arrange a second round of negotiations between the United States and Iran

US PCE inflation picks up in February; consumer spending solid

U.S. inflation increased as expected in February and likely rose further in March amid the war with Iran, a trend that is expected to discourage the Federal Reserve

SpaceX posted nearly $5 billion loss in 2025, The Information reports

Elon Musk's IPO-bound SpaceX posted a loss of nearly $5 billion in 2025 on revenue of more than $18.5 billion, The Information reported on Thursday, citing sources.

South Korean central bank stands pat as Middle East war fuels inflation, growth risks

South Korea's central bank kept its policy interest rate steady on Friday, maintaining a cautious stance as the conflict in Iran threatens to heat up domestic inflation and

US Republicans block bid to rein in Trump Iran war powers

U.S.

Ecuador raises tariffs on Colombia to 100% from 50% as tensions escalate

Ecuador's government on Thursday said it was raising tariffs on imports from its larger neighbor Colombia to 100% from a prior level of 50%,

UK's Starmer says Iran conflict shows Britain must take a new path

Prime Minister Keir Starmer on Thursday said the Iran war must become a turning point for Britain after two decades of crises, and he promised to

Russian diplomat: Moscow will not abandon Cuba, help with energy

Russia will never abandon or betray Cuba and plans to help the Communist island tackle energy issues linked to a U.S. embargo, a Russian deputy foreign minister was quoted as

BOJ will set policy with eye on scale, length of Iran war shock, deputy governor says

Bank of Japan Deputy Governor Ryozo Himino said on Friday the central bank will guide monetary policy with an eye on the scale and length of the economic shock caused by

China sees first producer inflation in over three years

China's factory-gate prices in March turned positive for the first time in more than three years, official data showed on Friday, pointing to rising import cost pressures

Japan rules out major domestic risks from private credit for now

Japanese Finance Minister Satsuki Katayama said on Friday private credit does not pose a major issue domestically at present but noted risks linked to

Japan wholesale inflation jumps, BOJ vows vigilance to stagflation risk

Japanese wholesale inflation jumped in March and the central bank's deputy governor called for vigilance to the risk of stagflation, highlighting mounting

Apple to shutter its first unionized US store in Maryland

Apple said on Thursday that it will shut down its retail store in Towson, Maryland, the first of its U.S. locations where retail employees successfully unionized in 2022.

Asia Pacific faces weaker growth and higher inflation from Middle East crisis, ADB warns  

Growth in developing Asia and the Pacific is expected to slow this year as the conflict in the Middle East disrupts trade and energy markets, the Asian Development Bank

Pakistan's high-stakes Iran peace bid is fraught with risk

Pakistan is under huge pressure to pull off what some diplomats regard as mission impossible: broker a peace deal between Iran and the

Trump says he’ll fire Powell next month if he stays in his role at the Fed

Trump says he’ll fire Powell next month if he stays in his role at the Fed

South Korea holds rates steady as Iran war fans inflation, growth risks

South Korea's central bank kept its policy interest rate steady on Friday and warned of a highly uncertain path ahead as a broadening conflict

Saudi Arabia says attacks cut oil output and East-West Pipeline flow

Attacks on Saudi energy facilities have cut the kingdom's oil production capacity by around 600,000 barrels per day and

US Justice Department opens probe into NFL over anticompetitive practices, source says

The U.S.

China's factories snap years-long deflation spell on Iran war price shock

China's factory-gate prices rose for the first time in more than three years in March, in an early sign that the war in Iran is feeding cost pressures into the world’s

Ukraine faces months of diplomatic and military pressure, Zelenskiy says

President Volodymyr Zelenskiy said the spring and summer months would be difficult for Ukraine as it would face pressure on the battlefield and also