Business
AI spending boom cushions global economy against multiple shocks
A surge in spending on artificial intelligence infrastructure is helping the global economy absorb shocks from trade conflicts, energy disruptions, and rising borrowing costs, according to analysis from the Wall Street Journal and economists.
U.S. banking regulator grants conditional approval to crypto-backed bank
US and UK Sign Pact on Cryptocurrency Investment Fraud
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Oil surges past $90 as US and Iran escalate military strikes
Oil prices rose sharply after US forces struck Iranian targets near the Strait of Hormuz and Iran responded with missile attacks on US military bases in Jordan.
Bessent's claim that Hormuz will lose value faces skeptical analysts
U.S. Treasury Secretary Scott Bessent predicted the Strait of Hormuz would become "worthless" within two years as new pipelines divert energy exports, but energy analysts say the critical waterway will retain strategic importance for container shipping and liquefied natural gas.
Venezuela's Oil Output Unlikely to Surge Past 1.3m Barrels Daily by Decade's End
Venezuela is unlikely to add more than 300,000 barrels per day of output by 2030 despite $100 billion in planned investments, with most new projects not arriving until the mid-2030s.
Dubai regulator and tokenization platform sign cooperation agreement
Dubai's virtual-assets regulator and the institutional tokenization platform Securitize have signed a memorandum of understanding to develop infrastructure for regulated digital-asset markets.
