Lucy Baldwin, global head of research at Citi, sees the US-Iran ceasefire deal letting markets return to the themes that were in focus before the start of the war. (Source: Bloomberg)
Lucy Baldwin, global head of research at Citi, sees the US-Iran ceasefire deal letting markets return to the themes that were in focus before the start of the war. (Source: Bloomberg)
The Trump administration is expected to significantly scale back its plan to seek additional funding for the war in Iran ahead of what is likely to be a contentious fight over the request in Congress, The Washington Post reported, citing U.S. officials and others familiar with the matter. The eventual ask of Congress is likely to fall between $80 billion and $100 billion, officials said, less than...
The Trump administration is expected to significantly scale back its plan to seek additional funding for the war in Iran ahead of what is likely to be a contentious fight over the request in Congress, The Washington Post reported, citing U.S. officials and others familiar with the matter. The eventual ask of Congress is likely to fall between $80 billion and $100 billion, officials said, less than half the amount of an earlier proposal to offset costs of the conflict. President Donald Trump said on Tuesday the attacks would be paused after the two sides agreed to a two-week ceasefire. He welcomes NATO chief Mark Rutte to the White House on Wednesday, as the war with Iran has pushed U.S. relations with other members of the military alliance to a crisis point. Trump on Friday requested a 10% cut in non-defense spending for the 2027 fiscal year and a massive $500 billion increase in the military budget. Notable defense stocks: Lockheed Martin ( LMT ), RTX ( RTX ), Northrop Grumman ( NOC ), Boeing ( BA ), Honeywell ( HON ), General Dynamics ( GD ), GEAerospace ( GE ), L3Harris Technologies ( LHX ), TransDigm ( TDG ), and Huntington Ingalls ( HII ). Dear Readers: We recognize that politics often intersect with the financial news of the day, so we invite you to click here to join the separate political discussion. More on markets, etc. AI Already Took 3 Million Jobs Iran Could Be The Tipping Point For The Consumer-Led Economy About Those Orders For Durable Goods That Factories In The U.S. Received AM Markets Need to Know: U.S.-Iran ceasefire updates, Hormuz transit fees, and more Stock futures jump, crude oil slides after Trump suspends Iran attack for two weeks
BUDAPEST, HUNGARY - APRIL 7: U.S. Vice President JD Vance speaks at a joint press conference with Hungarian Prime Minister Viktor Orban on April 7, 2026 in Budapest, Hungary. Vance is supporting Orban's bid for reelection in Hungarian parliamentary elections scheduled for April 12. (Photo by Jonathan Ernst - Pool/Getty Images) Pool | Getty Images News | Getty Images Vice President JD Vance has sai...
BUDAPEST, HUNGARY - APRIL 7: U.S. Vice President JD Vance speaks at a joint press conference with Hungarian Prime Minister Viktor Orban on April 7, 2026 in Budapest, Hungary. Vance is supporting Orban's bid for reelection in Hungarian parliamentary elections scheduled for April 12. (Photo by Jonathan Ernst - Pool/Getty Images) Pool | Getty Images News | Getty Images Vice President JD Vance has said the Iran ceasefire is a "fragile truce." The ceasefire, announced Tuesday, halted attacks on the country for two weeks and triggered a relief rally in global markets. Speaking in Hungary, Vance said Wednesday that Iran's foreign minister had responded well to the ceasefire but others in the country had been "lying" about the agreement. "This is why I say this is a fragile truce," he said. "You have people who clearly want to come to the negotiating table and work with us to find a good deal, and then you have people who are lying about even the fragile truce that we've already struck." Vance, who has been campaigning for Hungarian Prime Minister Viktor Orbán's re-election, said the U.S. had "clear military, diplomatic and, maybe most importantly, we have extraordinary economic leverage" over Iran. "The President has told us not to use those tools. He's told us to come to the negotiating table. But if the Iranians don't do the exact same thing, they're going to find out that the President of the United States is not one to mess around. He's impatient. He's impatient to make progress," Vance added. U.S President Donald Trump threatened earlier this week that a "whole civilization will die" without a deal for a ceasefire. He warned Iran had to either cut a deal or face massive strikes on its civilian infrastructure. This is a developing story. Please check back for updates. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
A German dentist pension fund that’s facing a loss of half its assets sued its ex-managing director for about €50 million ($58 million). The fund, known by its German acronym VZB, filed the case in the Berlin Labor Court earlier this month, a spokeswoman for the tribunal said in an e-mailed statement without disclosing the amount sought. The fund is seeking about €50 million from Ralf Wohltmann, p...
A German dentist pension fund that’s facing a loss of half its assets sued its ex-managing director for about €50 million ($58 million). The fund, known by its German acronym VZB, filed the case in the Berlin Labor Court earlier this month, a spokeswoman for the tribunal said in an e-mailed statement without disclosing the amount sought. The fund is seeking about €50 million from Ralf Wohltmann, people familiar with the lawsuit said. VZB and a lawyer for Wohltmann didn’t immediately reply to requests for comment. VZB, which caters to more than 10,000 dentists in the wider Berlin area and the city of Bremen, said it’s facing losses of about €1.1 billion after many of its investments — including backing a shrimp farm — soured. It had about €2.2 billion in assets under management by the end of 2024. The loss is the starkest example yet of a slow-burning crisis engulfing several German pension funds that poured money into opaque and risky corners of finance to prop up returns eroded by years of ultra-low interest rates. Some of those strategies have suffered large losses since rates have risen. Wohltmann was VZB’s managing director for 25 years until he was suspended in early 2025 and later dismissed. VZB claimed he violated his contract because he was invested in a company that in turn did business with VZB. The fund has blamed some of its losses on him and has also sued former officers and advisers. The Berlin Labor Court in January threw out a suit for wrongful dismissal from Wohltmann. He has appealed that ruling. Read More: German Dentists’ Fund Sues Advisers Over €1.1 Billion Loss
You know how much you have saved up in your 401(k) account. But how much does everyone else have? Mutual fund giant and retirement plan administrator Fidelity offers up this very information. Here are the average 401(k) balances for every age group participating in its plans as o
You know how much you have saved up in your 401(k) account. But how much does everyone else have? Mutual fund giant and retirement plan administrator Fidelity offers up this very information. Here are the average 401(k) balances for every age group participating in its plans as o
US President Donald Trump during a news conference in the James S. Brady Press Briefing Room of the White House in Washington, DC, US, on Monday, April 6, 2026. President Donald Trump said talks with Iran are "going well" ahead of a Tuesday night deadline to agree to a deal, even as he insisted that freedom of navigation through the Strait of Hormuz must be part of any agreement. Photographer: Aar...
US President Donald Trump during a news conference in the James S. Brady Press Briefing Room of the White House in Washington, DC, US, on Monday, April 6, 2026. President Donald Trump said talks with Iran are "going well" ahead of a Tuesday night deadline to agree to a deal, even as he insisted that freedom of navigation through the Strait of Hormuz must be part of any agreement. Photographer: Aaron Schwartz/CNP/Bloomberg