TIANJIN, CHINA - SEPTEMBER 01: Indian Prime Minister Narendra Modi talks with Russian President Vladimir Putin(L) and Chinese President Xi jinping ahead of the Shanghai Cooperation Organization (SCO) Summit 2025 at the Meijiang Convention and Exhibition Centre on September 1, 2025 in Tianjin, China. (Photo by Suo Takekuma - Pool/Getty Images) Pool | Getty Images News | Getty Images India and China...
TIANJIN, CHINA - SEPTEMBER 01: Indian Prime Minister Narendra Modi talks with Russian President Vladimir Putin(L) and Chinese President Xi jinping ahead of the Shanghai Cooperation Organization (SCO) Summit 2025 at the Meijiang Convention and Exhibition Centre on September 1, 2025 in Tianjin, China. (Photo by Suo Takekuma - Pool/Getty Images) Pool | Getty Images News | Getty Images India and China , two of the world's major oil importers , are competing for scarce global crude supplies as disruptions in the Strait of Hormuz and stalled peace talks between the U.S. and Iran tighten the market. The two economic powerhouses are now locked in a fierce scramble over limited available supplies, mainly from Russia and, to a lesser extent, Saudi Arabia. "The competition for Russian crude between India and China has been intense and will continue to be so for June-loading cargoes," Muyu Xu, a senior analyst at Kpler, told CNBC. On April 18, the U.S. renewed a waiver allowing countries to buy sanctioned Russian oil at sea for about a month, easing pressure on global prices. However, it did not ease sanctions on Iranian crude, of which almost 98% is bound for China , with smaller volumes reaching India . Iranian attacks on energy infrastructure in the Middle East have also disrupted oil supplies from Gulf countries, increasing demand for Russian oil. According to Kpler, Chinese imports through the critical waterway fell to about 222,000 barrels per day in April, a sharp dip from 4.45 million barrels per day (mbd) before the start of the Iran war. India's supplies through this route plunged to 247,000 barrels per day so far this month from 2.8 million in February. Both countries are now seeking alternative supplies to fill the gap. "The de facto closure of the Strait of Hormuz is prompting Asian countries to seek cheap crude that is readily available, and Russian crude falls into this category," said Xu of Kpler. India appears more vulnerable to supply shocks. Its oil imports f...
Boca Raton, Florida--(Newsfile Corp. - April 23, 2026) - MarginBusiness, an Amazon growth partner specializing in European marketplaces, today released new insights explaining why many U.S.-based Amazon brands struggle to replicate their domestic success across Europe, highlighting fundamental differences in customer behavior, search intent, and conversion dynamics. To view the full announcement, ...
Boca Raton, Florida--(Newsfile Corp. - April 23, 2026) - MarginBusiness, an Amazon growth partner specializing in European marketplaces, today released new insights explaining why many U.S.-based Amazon brands struggle to replicate their domestic success across Europe, highlighting fundamental differences in customer behavior, search intent, and conversion dynamics. To view the full announcement, including downloadable images, bios, and more, click here. Key Takeaways: ...
Iranian state television has released video of what it says is Iran's Navy seizing two ships in Hormuz. The footage, broadcast on April 23, is the latest escalation in the battle for control of the strait. (Source: Bloomberg)
Iranian state television has released video of what it says is Iran's Navy seizing two ships in Hormuz. The footage, broadcast on April 23, is the latest escalation in the battle for control of the strait. (Source: Bloomberg)
Shareholders in a UK Bitcoin accumulator are pushing it to sell all its tokens and wind down operations, one of the most dramatic examples of how the once-hot trade has fallen out of favor. Pantera Capital Management , one of the most prolific crypto venture capital funds, is among investors pushing London-listed Satsuma Technology Plc to divest its remaining $50 million of Bitcoin and return capi...
Shareholders in a UK Bitcoin accumulator are pushing it to sell all its tokens and wind down operations, one of the most dramatic examples of how the once-hot trade has fallen out of favor. Pantera Capital Management , one of the most prolific crypto venture capital funds, is among investors pushing London-listed Satsuma Technology Plc to divest its remaining $50 million of Bitcoin and return capital to shareholders, according to people familiar with the matter. Satsuma confirmed that some shareholders “have requested a return of capital,” without naming them. “We are exploring options to facilitate these requests while protecting the interests of all shareholders,” Satsuma Executive Chairman Ranald McGregor-Smith said in an emailed statement to Bloomberg News. A Pantera spokesperson didn’t respond to a request for comment. Satsuma in August last year said it raised £164 million ($221 million) through a convertible loan note to pursue what it called an “AI-powered” Bitcoin treasury strategy. In early October, Bitcoin hit an all-time high above $126,000 before beginning a months-long swoon that shaved almost 40% off the price. The crypto bear market has ravaged the so-called digital-asset treasury model Satsuma and hundreds of other companies pivoted to in the months after Donald Trump , an industry champion, returned to the White House. Bitcoin hoarders that traded at many times the value of their holdings at the height of the DAT craze have seen those premiums evaporate, and some — including Satsuma — have sold tokens. Satsuma’s share price illustrates the strategy’s pitfalls. The stock has fallen more than 99% from a June 2025 peak to trade around 24 pence. Its market capitalization is well below the value of its Bitcoin hoard. Satsuma ranks 57th among Bitcoin treasury firms with 646 tokens on its balance sheet, according to Bitcointreasuries.net, a database tracking such outfits. It is far smaller than the giants of the trade, led by Michael Saylor ’s Strategy In...
Hong Kong’s fire services declined to activate an emergency alert during the city’s deadliest inferno in decades, citing concerns that it might have caused confusion among trapped residents, a public inquiry has heard. An independent committee investigating last year’s disaster at Wang Fuk Court was also told on Thursday that the system, which would have triggered a loud, high-pitched alarm on mob...
Hong Kong’s fire services declined to activate an emergency alert during the city’s deadliest inferno in decades, citing concerns that it might have caused confusion among trapped residents, a public inquiry has heard. An independent committee investigating last year’s disaster at Wang Fuk Court was also told on Thursday that the system, which would have triggered a loud, high-pitched alarm on mobile phones, would have offered little help to the Fire Services Department’s evacuation efforts, as...
London ( UKX ) -0.48% to 10,425. Germany ( DAX:IND ) -0.16% to 24,157. Germany's manufacturing and service sectors deteriorate in April . France ( CAC:IND ) +0.55% to 8,200. France's manufacturing sector improves in April . Euro Area composite PMI falls to 48.6 as services slip, manufacturing edges higher in April . In other parts of Europe, r etail sales in Poland rose 8.7% Y/Y in March. The pan-...
London ( UKX ) -0.48% to 10,425. Germany ( DAX:IND ) -0.16% to 24,157. Germany's manufacturing and service sectors deteriorate in April . France ( CAC:IND ) +0.55% to 8,200. France's manufacturing sector improves in April . Euro Area composite PMI falls to 48.6 as services slip, manufacturing edges higher in April . In other parts of Europe, r etail sales in Poland rose 8.7% Y/Y in March. The pan-European Stoxx 600 ( STOXX) traded 0.22% lower to 612.5, as escalating tensions in the Strait of Hormuz drove oil prices higher and reignited inflation fears. Investors also digested fresh PMI data and corporate earnings. Sanofi advanced 1.7% after a 6.2% increase in Q1 net sales. Roche held steady, while Nestlé rose 6% despite both companies reporting declines in Q1 sales. The euro held steady at $1.17 against the dollar, its weakest level in two weeks, as tensions in the Strait of Hormuz persisted and diplomatic efforts stalled. In the bond market, the yield on the US 10-year Treasury was up 1 basis point to 4.32%. UK's 10-year yield was up 3 basis points to 4.94%. Germany's 10-year yield was up 3 basis points to 3.03%. Currencies: ( EUR:USD ) ( GBP:USD ) ( CHF:USD ) ETFs: (NYSEARCA: EWG ), (NYSE: GF ), (NYSEARCA: EWI ), (NYSEARCA: EWQ ), (NASDAQ: FGM ), (NASDAQ: DAX ), (NYSEARCA: FLGR ), (NYSEARCA: FXB ), (NYSEARCA: EWU ), (NASDAQ: FKU ), (BATS: EWUS ), (NYSEARCA: FLGB ), (NYSEARCA: GREK ) More on Europe EUR/USD Remains Driven By Geopolitics The Dollar Is Forecasting Tougher Times Ahead - EUR/USD, AUD/USD And Dollar Index Overview British Equities Are A Smart Way To Play The Rebound European equities mixed as geopolitical tensions linger UK's inflation rose to 3.3% in March
South Africa is boosting oil-product imports from the US to help replace lost supplies from the Middle East, in another example of how the conflict is reshaping trade and threatening higher costs for consumers. Before the war, Africa’s top oil products importer sourced the bulk of its diesel, petrol and jet fuel from Gulf states — namely Oman, Saudi Arabia and the United Arab Emirates. But with fl...
South Africa is boosting oil-product imports from the US to help replace lost supplies from the Middle East, in another example of how the conflict is reshaping trade and threatening higher costs for consumers. Before the war, Africa’s top oil products importer sourced the bulk of its diesel, petrol and jet fuel from Gulf states — namely Oman, Saudi Arabia and the United Arab Emirates. But with flows through the key Strait of Hormuz choked off and oil prices now much higher, the nation has been forced to turn elsewhere. At least four tankers unloaded about 165,000 tons of refined fuels from the US this month in Durban, where most of South Africa’s imports land, ship-tracking data compiled by Bloomberg show. That’s roughly twice the amount of American crude and fuel imports the country received in January, according to the US Energy Information Administration. Another tanker has arrived in Durban and at least three more laden with American fuel are headed to the port before month-end, the data show. Switching to suppliers that are farther away can further add to import costs that have risen because of higher fuel prices and freight rates. Countries and industries are trying to secure fuel following the severe hit on Middle East supplies. Asia’s emerging economies have borne the brunt of the energy crisis, with India, for example suffering liquefied petroleum gas shortages . Fuel crunches have also spread to other parts of the world, with Europe facing a deficit of jet fuel . This week, the world’s largest oil traders warned that the rewiring of the oil market would take months even if a peace deal is agreed soon, and that flows through Hormuz may never return to normal. Read More: The Strait of Hormuz Oil Shock Is Now Heading West “Product is available, albeit at a price, from alternative international supply sources,” Avhapfani Tshifularo, chief executive of the Fuels Industry Association of South Africa, said. “The US has been identified as one such source, and the...
The TPU 8t and TPU 8i, Google’s eighth-generation chips, will be available later this year. Nvidia shares fell 0.8% to $200.97 in premarket trading Thursday after closing up 1.3% during Wednesday’s session. Although Google’s TPUs have posed the biggest challenge to Nvidia’s AI processor dominance so far, the rivalry is still a largely amicable one.
The TPU 8t and TPU 8i, Google’s eighth-generation chips, will be available later this year. Nvidia shares fell 0.8% to $200.97 in premarket trading Thursday after closing up 1.3% during Wednesday’s session. Although Google’s TPUs have posed the biggest challenge to Nvidia’s AI processor dominance so far, the rivalry is still a largely amicable one.
We want to hear from you about the rise of child skincare trends Children as young as two are appearing in TikTok videos demonstrating their skincare routines, a Guardian investigation has found , raising concerns about the beauty industry’s reach. Dermatologists say children do not need multi-step skincare and warn the trend may be fuelling anxiety about appearance from an early age. We want to h...
We want to hear from you about the rise of child skincare trends Children as young as two are appearing in TikTok videos demonstrating their skincare routines, a Guardian investigation has found , raising concerns about the beauty industry’s reach. Dermatologists say children do not need multi-step skincare and warn the trend may be fuelling anxiety about appearance from an early age. We want to hear from parents of children of primary school children or younger. Have your children asked for skincare products or felt pressure to follow routines they’ve seen online or heard about from friends? Have you noticed changes in how they think about their appearance? Do you have concerns? Continue reading...
(RTTNews) - Galderma Group AG (GDERF, GALD.SW), a Swiss skincare firm, on Thursday reported sales growth for its first quarter, with improved performance in all segments.
(RTTNews) - Galderma Group AG (GDERF, GALD.SW), a Swiss skincare firm, on Thursday reported sales growth for its first quarter, with improved performance in all segments.
PricewaterhouseCoopers LLP agreed to pay HK$1.3 billion ($166 million) in compensation and fines in Hong Kong over its auditing work of China Evergrande Group . The firm was also suspended for six months from accepting, performing, or issuing reports in respect to new clients of listed companies, according to the Accounting and Financial Reporting Council. It was fined HK$300 million. In a separat...
PricewaterhouseCoopers LLP agreed to pay HK$1.3 billion ($166 million) in compensation and fines in Hong Kong over its auditing work of China Evergrande Group . The firm was also suspended for six months from accepting, performing, or issuing reports in respect to new clients of listed companies, according to the Accounting and Financial Reporting Council. It was fined HK$300 million. In a separate agreement with the Securities and Futures Commission, the firm agreed to pay HK$1 billion. The cash will be set aside to compensate eligible independent minority shareholders of China Evergrande, according to a statement from the SFC. The SFC and PwC HK also “agreed that the matter will be fully and finally resolved without admission of liability, and that the SFC will take no further action against PwC HK, provided that PwC HK fulfills the terms of the agreement,” the regulator said. The measures come as the firm attempts to rebuild in the wake of Beijing’s earlier record fine over its audit work on China Evergrande. That triggered an exodus of state‑owned enterprise clients, major Chinese companies and even Hong Kong regulators, along with staff departures . PwC China, which covers Hong Kong, audited Evergrande, while its mainland partnership, known as PwC Zhong Tian, worked with Hengda Real Estate Group, Evergrande’s mainland unit. PwC was Evergrande’s auditor for more than a decade until it resigned in January 2023, due to what the developer said were audit-related disagreements. While Evergrande is based in China, it’s regulated in Hong Kong because its stock used to trade in the financial hub. The regulatory climate has shifted significantly following the collapse of China Evergrande Group. Its founder, Hui Ka Yan, pleaded guilty to bribery, embezzlement, and fraud in April. In 2024, Beijing accused the developer of inflating revenue by more than 560 billion yuan ($82 billion), in one of the nation’s biggest accounting frauds. PwC was subsequently fined 441 million ...
Walter Cicchetti SpaceX ( SPACE ) may be planning to manufacture its own graphics processing units, or GPUs, as part of a broader push into AI infrastructure, Reuters reported on Thursday, citing excerpts of the company’s draft IPO filing reviewed by the news agency. In its S-1 registration ahead of an expected summer IPO , SpaceX listed “manufacturing our own GPUs” among substantial capital expen...
Walter Cicchetti SpaceX ( SPACE ) may be planning to manufacture its own graphics processing units, or GPUs, as part of a broader push into AI infrastructure, Reuters reported on Thursday, citing excerpts of the company’s draft IPO filing reviewed by the news agency. In its S-1 registration ahead of an expected summer IPO , SpaceX listed “manufacturing our own GPUs” among substantial capital expenditures tied to AI and other technologies, according to Reuters . The move would expand work by SpaceX, xAI, and Tesla ( TSLA ) on Terafab, an advanced AI chip manufacturing complex planned in Austin, Texas. The report says details on the types of chips to be produced had not previously been disclosed. SpaceX did not immediately respond to Seeking Alpha's request for comment. Elon Musk said his companies will adopt Intel ’s ( INTC ) latest technology for its “Terafab” project SpaceX also warned prospective investors about supply risks, saying it lacks long-term contracts with many direct chip suppliers and may continue relying on third-party compute hardware. "We do not have long-term contracts with many of our direct chip suppliers," SpaceX said in the S-1 registration. "We expect to continue sourcing a significant portion of our compute hardware from third-party suppliers, and there can be no assurance that we will be able to achieve our objectives with respect to TERAFAB within the expected timeframes, or at all." There is a global shortage of GPUs, which are critical for AI workloads. NVIDIA ( NVDA ) designs many of the leading chips, while manufacturing is concentrated at TSMC ( TSM ) , where capacity constraints have tightened supply and increased production costs, contributing to industrywide shortages. More on SpaceX SpaceX: $1.75T IPO And 220x EV/EBITDA Could Trigger Surge In Aerospace And Defense SpaceX 600x Earnings: I'm Calling It A Strong Buy Anyway Can Any Investor Actually Value SpaceX? Musk says Tesla, SpaceX to use Intel’s 14A tech in Terafab, lifting I...
In this article AIR-FR Follow your favorite stocks CREATE FREE ACCOUNT Former Canadian Prime Minister Justin Trudeau speaks at CNBC CONVERGE LIVE in Singapore on April 23, 2026. CNBC Canadian companies are turning towards making deals with China because of economic coercion from the U.S., according to former Canadian Prime Minister Justin Trudeau. Speaking at CNBC's CONVERGE LIVE in Singapore on T...
In this article AIR-FR Follow your favorite stocks CREATE FREE ACCOUNT Former Canadian Prime Minister Justin Trudeau speaks at CNBC CONVERGE LIVE in Singapore on April 23, 2026. CNBC Canadian companies are turning towards making deals with China because of economic coercion from the U.S., according to former Canadian Prime Minister Justin Trudeau. Speaking at CNBC's CONVERGE LIVE in Singapore on Thursday, Trudeau described a time when he said the U.S. and Europe "almost drove" Canada "into China's arms." Canadian company Bombardier, which makes private jets, began building a commercial jet known as the C Series in 2008. But it was unable to sell the model to airlines because of pressure from Airbus , a European company and Boeing , a U.S. firm, Trudeau said. Bombardier was approached by Chinese investors, who offered a "dump truck full of money" to buy the business, according to Trudeau. "Boeing and Airbus — that were busy trying to put Bombardier out of business because they didn't want Bombardier to be a contest — almost drove us into China's arms," Trudeau said. Chinese investors offered a partnership with Bombardier in 2015 when talks about a potential Airbus merger fell apart. In 2017, Bombardier again turned to China for a deal after negotiations with Boeing over the C Series were unsuccessful. At the G7 Summit in 2017, an annual meeting of the Group of Seven leading industrialized nations, Trudeau intervened, he said. "It took me around the G7 table in Sicily ... in 2017 saying to Macron and Merkel and Trump, you are driving us into Chinese pockets, into Chinese hands to protect jobs. They're willing to pay anything to get this," Trudeau told CONVERGE LIVE. watch now VIDEO 6:33 06:33 Canada was almost driven into 'China’s arms’ by U.S. coercion, Trudeau says Converge In 2018, Airbus took on a "majority stake" in Bombardier's commercial C Series and began manufacturing it as the A220. It bought the remaining stake in 2020, securing more than 3,300 Airbus jobs ...
Canada’s Teck Resources Ltd. warned of higher fuel costs for its flagship Chilean copper mines as the global mining industry grapples with supply-chain disruptions triggered by war in the Middle East. While there’s not a major threat to supply of fuels, “there could be an amplified impact on costs at our Chilean operations due to the requirement for diesel imports,” the Vancouver-based miner said ...
Canada’s Teck Resources Ltd. warned of higher fuel costs for its flagship Chilean copper mines as the global mining industry grapples with supply-chain disruptions triggered by war in the Middle East. While there’s not a major threat to supply of fuels, “there could be an amplified impact on costs at our Chilean operations due to the requirement for diesel imports,” the Vancouver-based miner said as it reported a 125% jump in first-quarter core earnings. Turmoil in the Strait of Hormuz — which has hampered the global flow of oil and key commodities — has heightened concerns over market dislocations and cost inflation eroding mining companies’ margins. The industry relies on high volumes of diesel to power operations, while sulfur is used in processing nearly a fifth of the world’s copper. “We anticipate higher freight costs through Q2 2026, plus a flow-through increase in explosives costs, and we continue to actively monitor the situation for changes that could further disrupt markets, such as product export bans from key supply countries,” Teck’s earnings statement said. The firm’s adjusted earnings before interest, taxes, depreciation and amortization rose to C$2.09 billion ($1.5 billion) in the first quarter — from C$927 million a year earlier — helped by high commodity prices, record sales of copper and stronger revenues from by-products. The company held production guidance for its major Quebrada Blanca mine in Chile at 200,000 to 235,000 tons for this year. Higher output at that operation is a major focus for investors and the company’s management. Teck last year stepped up efforts to stabilize operations at the mine, known as QB, where tailings facility issues have hampered output and driven significant cost overruns. The asset is pivotal to Anglo American Plc and Teck’s planned tie-up , with QB set to be integrated with Anglo’s nearby Collahuasi operation to form a larger asset complex capable of producing an additional 175,000 tons each year from 2030 to 20...
Business activity in the euro area unexpectedly shrank for the first time since late 2024 due to a steep drop in the services sector as the Iran war weighs on consumers. Bloomberg's Zoe Schneeweiss reports. (Source: Bloomberg)
Business activity in the euro area unexpectedly shrank for the first time since late 2024 due to a steep drop in the services sector as the Iran war weighs on consumers. Bloomberg's Zoe Schneeweiss reports. (Source: Bloomberg)