OPEC+, including Saudi Arabia and Russia, agree further hike to their oil production
The 137,000-barrels-per-day hike will apply from December and remain at that level for the following three months, signifying a "pause"...Economy
Iran declares major lender bankrupt
Iran declared one of the country's largest private banks bankrupt with its assets absorbed by the state, official media reported...Economy
Stock markets strike records despite geopolitical unrest
Gains for oil prices were relatively modest, while gas futures were unmoved after Israel's strikes Tuesday against Hamas in gas-rich...Wall Street had notched fresh highs Tuesday as markets digested weak US jobs data that added to expectations that the Fed will lower US interest rates at their next meeting.
Tokyo's stock market ended at an all-time high, as did Seoul where traders were hopeful the government will not implement plans to lower the capital gains tax threshold for stocks.
Europe hyperloop test hits new speed record in Dutch trial
The Hague, Netherlands -- A Dutch tech startup said Wednesday it had set a European speed record for its futuristic...Hardt Hyperloop said its vehicle had reached 85 kph at the 420 meter European Hyperloop Center test track in the Netherlands and had carried out a complex lane switching test.
It said the lane switching maneuver -- essential for networked routes -- showed there were no technical barriers to operating at aircraft-like speeds.
MBZUAI, G42 launch K2 Think: Leading open-source system for advanced AI reasoning
Abu Dhabi, UAE -- The Institute of Foundation Models at Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) and G42...K2 Think embodies a new approach to building smarter, more efficient AI, as with just 32 billion parameters, it outperforms flagship reasoning models that are 20X larger.
This breakthrough in parameter efficiency makes K2 Think a powerful alternative for advanced reasoning, redefining what is possible with compact architectures
Stocks climb eyeing US rate cut, political turbulence
A steep downward revision to US job creation cemented expectations that the Federal Reserve would begin lowering its benchmark rate...US employment growth is likely to be revised down by 911,000 for the 12 months ending in March, official data showed.
Investors are now looking to consumer inflation data coming Thursday, since a hot reading could keep the Fed from cutting further as it looks to curb price increases.
Saudi launches Damascus area reconstruction project
Saudi Arabia announced on Sunday humanitarian projects for Syria including the removal of wartime rubble around Damascus, weeks after inking...The oil-rich Gulf kingdom has been a major backer of the new Syrian government, which came to power after an Islamist-led offensive toppled longtime Syrian ruler Bashar al-Assad
Other agreements inked on Sunday would see Riyadh support the reconstruction of 34 schools in Syria's Aleppo, Idlib and Homs provinces
Key OPEC+ members to boost oil production again
Oil ministers in the V8 grouping -- comprising Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and...Those countries had already increased production by 2.2 million bpd in recent months.
They said that the new incoming cycle could see up to an extra 1.65 million bpd eventually coming onto the market.
AI giant Anthropic to pay $1.5 bn over pirated books
San Francisco, United States - Anthropic will pay at least $1.5 billion to settle a US class action lawsuit over..."This landmark settlement far surpasses any other known copyright recovery," said plaintiffs' attorney Justin Nelson. "It is the first of its kind in the AI era."
San Francisco-based Anthropic announced this week that it raised $13 billion in a funding round valuing the AI startup at $183 billion
Norway experiments with electric plane in real-life test
Oslo, Norway -- An electric plane took to the skies between the Norwegian airports Stavanger and Bergen on Thursday, simulating...The small aircraft -- an Alia built by US aircraft manufacturer Beta -- flew the 160 kilometers in a test run by the Norwegian affiliate of the transport company Bristow.
The flight took 55 minutes and simulated a cargo flight route in southeastern Norway.
Global bond selloff spreads to Japan, gold hits record high
Wall Street stocks opened mostly higher, with shares in Google parent-company Alphabet shooting up nearly seven percent after winning a...Yields on 30-year Japanese government bonds rose to an all-time high of 3.29 percent on Wednesday, while 20-year yields reached their highest since 1999.
The selloff in Japanese debt mirrors widespread moves in the United States and Europe, with investors spooked over substantial piles of government debt globally.
Gold glitters to new high as Asia stocks mixed
Gold climbed to a new record Tuesday as investors sought out safe havens, while Japan's Nikkei and the Hang Seng...The precious metal reached $3,501.59 an ounce during early trading in Asia, soaring past its previous record of $3,500.10 in April
The run in gold prices comes as investors weigh up a weakened US dollar and the prospect of rate cuts by the Federal Reserve
