A South Korean appeal court increased the corruption sentence for former first lady Kim Keon-hee on Tuesday to four years in jail, up from 20 months, after finding her guilty of stock manipulation and bribery. “The court sentences the defendant to four years in prison and imposes a 50 million won (US$34,000) fine,” the Seoul High Court said in a verdict televised live. More to follow …
A South Korean appeal court increased the corruption sentence for former first lady Kim Keon-hee on Tuesday to four years in jail, up from 20 months, after finding her guilty of stock manipulation and bribery. “The court sentences the defendant to four years in prison and imposes a 50 million won (US$34,000) fine,” the Seoul High Court said in a verdict televised live. More to follow …
OpenAI recently failed to meet its own goals for new user acquisition and sales, fueling internal concerns that the company may struggle to support its spending on AI infrastructure, according to a Wall Street Journal report. Bloomberg's Neil Campling has the details. (Source: Bloomberg)
OpenAI recently failed to meet its own goals for new user acquisition and sales, fueling internal concerns that the company may struggle to support its spending on AI infrastructure, according to a Wall Street Journal report. Bloomberg's Neil Campling has the details. (Source: Bloomberg)
Donny DBM/iStock via Getty Images Is the barrel of crude oil half full or half empty? As we write this update, the conflict in Iran continues to limit the amount of crude oil and other byproducts that can exit the Persian Gulf via the Strait of Hormuz. As roughly 20% of global oil supply flows through the strait under normal conditions, its effective closure has significantly eroded global invento...
Donny DBM/iStock via Getty Images Is the barrel of crude oil half full or half empty? As we write this update, the conflict in Iran continues to limit the amount of crude oil and other byproducts that can exit the Persian Gulf via the Strait of Hormuz. As roughly 20% of global oil supply flows through the strait under normal conditions, its effective closure has significantly eroded global inventories and crude prices have risen significantly. Entering 2026, most were anticipating a meaningful supply glut for at least the first half of the year, however, that expectation has shifted toward a significant shortage. As critically, in terms of the potential for a rebound once the shooting stops, attacks on energy infrastructure such as refineries and liquified natural gas ( LNG ) facilities has taken 11 million barrels per day of productive capacity off-line. That's over 10% of global supply. If oil fields have nowhere to send their oil because shipping lanes are closed or local refineries are damaged or destroyed, the oil fields are shut-in and take time to reopen. At best, there is no quick fix even under the rosiest scenario. The U.S. market has been relatively sanguine despite what could end up being the largest oil supply shock in history. Clearly, investors believe the disruption will only be a short-term affair. The S&P 500 lost only 4.3% during the first quarter. The biggest swing occurred from the all-time market high in late January through the second-to-last day in March, with a 9.1% decline. The first part of that decline had little to do with war in Iran as the missiles started flying in late February. It had more to do with a market leadership change away from Artificial Intelligence ( AI ) infrastructure related mega-cap growth stocks and toward real asset investments such as commodity related companies. Investors rightly determined that valuations in the AI infrastructure area had grown extremely expensive and instead began focusing on companies that cou...