The eight OPEC+ nations consented to a third straight rapid rise in oil output by 411,000 bpd, citing the prospects for global economic sustainability and current robust market conditions, as indicated by low commercial oil stocks, OPEC stated in a press announcement after the meeting. The alliance points out that these plans could be delayed or terminated based on how market conditions evolve....

US President Donald Trump has given green light for the merger between US Steel and Japan's Nippon Steel, according to CNBC. ‘This will be a strategic alliance between United States Steel and Nippon Steel that is expected to generate at least 70,000 jobs and invest $14 billion into the American economy,’ he wrote on his Truth Social platform.  According to Trump, US Steel will stay in...

JPMorgan Chase & Co., the biggest bank in the U.S. by assets, will further enhance its involvement with China's capital markets and improve support for international firms operating in China as well as Chinese companies seeking opportunities abroad, stated Jamie Dimon, the bank's head, during a meeting with China’s Vice Premier He Lifeng in Beijing, writes Xinhua. Dimon also expressed...

Bloomberg reports that the price of bitcoin has surpassed $111,000 for the first time ever. The value at its peak hit $111,878. The increase in the bitcoin rate was driven by traders' positive sentiment about the cryptocurrency's future due to demand from institutional investors and backing from the Donald Trump administration. Positive sentiment was driven by the progress of the stablecoin bill...

On Wednesday, the European Commission (EC) initiated an investigation into tires for cars and light trucks imported from China after a formal complaint was submitted by representatives of the European Union tire sector. The EC stated that it claims Chinese tires are being sold at an unjust price, which is damaging to European producers.  If the investigation determines that tire imports...

On May 21, a malfunction in the Bloomberg terminal interrupted bond trading throughout Europe, as reported by the agency itself, along with Reuters and The Wall Street Journal, referencing Bloomberg officials and traders. Bloomberg announced that its systems were returning to normal following the short disruption and that terminal operations had been reinstated. The support service explained that...

The Finance Ministry reported that in April, foreign investors allocated 8.21 trillion yen ($56.6 billion) to Japanese stocks and long-term bonds. According to CNBC, referencing Morningstar calculations, this marks the highest figure ever recorded for a calendar month since monthly data collection began in 1996. “The tariffs introduced by the U.S. President Donald Trump have probably altered...

Luis de Guindos, Deputy Chairman of the European Central Bank (ECB), stated that recent developments in global trade could disrupt Europe's financial system, which is still effectively handling the repercussions of shifts in U.S. policy. He pointed out that the European financial system is stable, yet there are risks tied to the currency area's extensive integration into global supply chains....

The leaders of 17 major UK pension funds have declared their plan to invest 50bn pounds ($66bn) in the nation's economy by 2030, with half of this sum directed towards UK assets, particularly in the green energy sector, according to The Guardian. Investment companies such as Aviva and Legal & General intend to allocate about 10 percent of the assets managed in their pension funds. The funds...