Revolut Ltd. is shuttering its commodities business for trading precious metals in parts of Europe. “We regularly review our products and services. Following a recent review of our local offerings, we have made the decision to wind down our commodities service in some European markets,” a Revolut spokesperson said in an emailed statement to Bloomberg. The decision is limited to the commodities bus...
Revolut Ltd. is shuttering its commodities business for trading precious metals in parts of Europe. “We regularly review our products and services. Following a recent review of our local offerings, we have made the decision to wind down our commodities service in some European markets,” a Revolut spokesperson said in an emailed statement to Bloomberg. The decision is limited to the commodities business, which allows customers to trade palladium, silver, gold, and platinum, and does not impact other banking or investment services, the spokesperson added. The change relates to a “small group” of Revolut customers, and the firm will refund commission on their final sales, according to the statement. Customers in nine countries in the European Economic Area will be affected, out of 30 where Revolut operates. People on social media shared screenshots of the notifications they’d received earlier this month about the closure, giving them a two-month window to sell their existing holdings. Revolut is known for its aggressive product development strategy known as “new bets,” where the firm will incubate, launch, and ruthlessly evaluate new products — and close them if they fail to meet performance targets. Commodities launched in 2020 with gold trading, before expanding to more countries and metals. Revenues from the firm’s wealth business, which includes commodities, increased 31% to $876 million (£663 million) in 2025. This business previously made a significant portion of its revenue from cryptocurrency offerings, though that growth plateaued last year, Chief Financial Officer Victor Stinga said on a call with media in March. Revolut, which has over 70 million users, offers trading of US and European equities on its app, and rolled out British blue-chips after gaining its UK trading license in November 2024.
winhorse Chinese EV company XPeng ( XPEV ) is in discussions with overseas automakers for potential partnerships while evaluating plans to build new production facilities outside China. Chairman He Xiaopeng said that the company is exploring joint ventures or production partnerships with foreign automakers, eyeing new or upgraded EV plants starting from 2026, according to a Bloomberg report. The t...
winhorse Chinese EV company XPeng ( XPEV ) is in discussions with overseas automakers for potential partnerships while evaluating plans to build new production facilities outside China. Chairman He Xiaopeng said that the company is exploring joint ventures or production partnerships with foreign automakers, eyeing new or upgraded EV plants starting from 2026, according to a Bloomberg report. The tech EV company is looking at Europe, Southeast Asia, and Latin America, where local assembly would help meet demand and reduce logistics and tariff friction. The move comes as overseas demand, particularly in European markets such as France and Germany, prompting the need for localized manufacturing. XPeng ( XPEV ) is joining hands with overseas automakers to commercialize its advanced driver-assistance systems (ADAS). The company's autonomous driving solutions have global adaptability and enhanced safety features, attracting interest from domestic Chinese automakers, Tier 1 suppliers, and European companies, He added. He also confirmed a meeting with the CEO of Volkswagen ( VWAGY ) to discuss their ongoing collaboration, which has progressed smoothly over the past three years. The carmaker is targeting over 50% of its total revenue from international sales within the next decade as it transforms into a global AI technology company. Beyond manufacturing, XPeng ( XPEV ) is expanding as a global AI and mobility company, investing in autonomous driving, robotaxis, humanoid robots, and flying cars . More on XPeng XPeng: Looks Like A Tesla That Keeps Its Promises, Long-Term Strong Buy XPeng: Margin Inflection Point Reached XPeng: Q4 Net Profit, Leading Gross Margins, Cheap Xpeng targets mass production of flying cars next year, humanoid robots by Q4 2026 XPeng March deliveries surge 80% M/M to 27,415; Q1 total hits 62.68K
An internal watchdog will review the agency’s handling of records related to Jeffrey Epstein, including whether relevant documents were properly redacted Sign up for the Breaking News US email to get newsletter alerts in your inbox A majority of Americans blame Donald Trump for surging gasoline prices, which is weighing on his Republican party ahead of November’s congressional midterm elections, a...
An internal watchdog will review the agency’s handling of records related to Jeffrey Epstein, including whether relevant documents were properly redacted Sign up for the Breaking News US email to get newsletter alerts in your inbox A majority of Americans blame Donald Trump for surging gasoline prices, which is weighing on his Republican party ahead of November’s congressional midterm elections, according to a Reuters/Ipsos poll. Some 77% of registered voters in the poll, which concluded early this week, said Trump bears at least a fair amount of responsibility for the recent rise in gas prices, which was sparked by his decision to launch a war on Iran along with US ally Israel. Our preliminary objective is to evaluate the DOJ’s processes for identifying, redacting, and releasing records in its possession as required by the Act. Alleged victims of sexual abuse by Epstein have complained that DOJ repeatedly failed to redact photos and other details that could reveal their identities and did not make public all the information prosecutors have about Epstein associates who were allegedly aware of his crimes or conspired with him but were never charged. Lawmakers have made similar complaints and have said they suspect DOJ has not released some relevant documents. The Trump administration has moved to reclassify marijuana, more than four months after Trump signed an executive order directing the attorney general to move it from schedule I to schedule III under the Controlled Substances Act. Trump, apparently abandoning his attempt to frighten Iran’s leaders into negotiating by channeling Richard Nixon’s “madman” theory , ruled out the use of nuclear weapons in his conflict with Iran. Trump has decided to invite wanted war criminal Vladimir Putin to the G20 summit in December at Trump’s Doral golf resort, the Washington Post reports. Trump confirmed that the government is considering a plan to bail out or ‘“just buy” Spirit Airlines, but confused Barack Obama with Joe Bid...
small smiles/iStock via Getty Images Markets generally price in the impact of geopolitical events relatively quickly and then look past the short-run effects to focus on the future. 1 Through World Wars, Cold Wars, and nuclear crises, the global economy has continued to grow and evolve. Markets respond accordingly. The big question investors face today: Does the Iran conflict disrupt economic tren...
small smiles/iStock via Getty Images Markets generally price in the impact of geopolitical events relatively quickly and then look past the short-run effects to focus on the future. 1 Through World Wars, Cold Wars, and nuclear crises, the global economy has continued to grow and evolve. Markets respond accordingly. The big question investors face today: Does the Iran conflict disrupt economic trends, delay economic activity, distract investors, or results in some combination thereof? Prior to the start of the conflict, the U.S. economy was on a rather healthy glidepath, having largely absorbed the tariff shock. 2 The global economy’s temperature: not too hot, not too cold, probably just right. There are, however, major geopolitical shifts at play, and we look to Hamilton’s King George for some advice. Global relations increasingly resemble mercantilist systems of the past, where countries focused on improving economic strength through all manner of policy levers. At the same time, the unipolar peace dividend of the post-Cold War 1990s seems like a bygone era with rapid increases in military spending and the transition to a version of decentralized deterrence. That leaves investors to chart a path through a new world of geopolitical coordinates. What Comes Next? Blockade, perhaps. Negotiations on one week. Maybe negotiations off by the next week. While the diplomatic path remains uncertain, the physical degradation of Iran’s strategic assets provides a more objective baseline for expectations. At the end of March, intelligence reports suggested that at least one-third of Iran’s missile stock and approximately 90% of its production capabilities had been destroyed. 3 The final offensive operations that targeted Kharg Island and other strategic assets may have degraded that capability further. The Iranian regime’s ability to project force outside their borders is likely a shadow of what it was before Operation Epic Fury, putting the country’s position as a regional hege...