Gold prices struggled to capitalise on gains from earlier in the day as the yellow metal fell below $5,200 per ounce once again. A stronger dollar weighed on gold and silver prices on Wednesday. The dollar’s strength makes commodities priced in the greenback more expensive for overseas buyers, thereby limiting demand. Experts said that the
Oil majors are in the spotlight as the effective closure of the Strait of Hormuz forces traders to reprice supply risk, sending benchmark crude sharply higher and pushing selected energy stocks toward fresh highs. With tankers avoiding one of the world’s most vital chokepoints and maritime traffic reportedly down about 80%, investors are rotating into
US consumer prices rose moderately in February, suggesting inflation remained contained before a recent surge in energy prices triggered by the conflict involving Iran, according to government data released on Wednesday. The Consumer Price Index increased 0.3% in February after rising 0.2% in January, the Labor Department’s Bureau of Labor Statistics said. The reading was
Amazon’s autonomous vehicle company Zoox is preparing to bring its self-driving vehicles to the Uber app in Las Vegas this summer. The partnership allows riders to request Zoox vehicles directly through Uber while the company continues operating its own app. The collaboration reflects growing momentum around autonomous mobility as technology firms and transport platforms compete
The US stocks opened mixed on Wednesday as the Dow Jones edged lower, while the S&P 500 and Nasdaq posted modest gains. The investors continue to weigh the latest developments in the US-Iran war and volatile oil prices while digesting fresh US inflation data. The Dow slipped 82 points, or 0.2%, while the S&P 500
After four years of applications, regulatory back-and-forth, and an extended mobilisation period that has broken UK records for its length, Revolut finally secured a full banking licence in its home market. The development came on Wednesday as a milestone that would end a process that began in 2021 and has been watched closely across Europe’s
The International Energy Agency triggered its largest-ever strategic oil release on Wednesday, flooding the market with 400 million barrels of crude to counter a supply crunch gripping global energy markets. The extraordinary move came as Brent crude hovered near $91 a barrel amid escalating Middle East conflict and tanker disruptions in the Strait of Hormuz.
Artificial intelligence infrastructure spending is accelerating as technology companies race to build the computing backbone required for advanced AI systems. Nvidia strengthened its position in this growing market after announcing a $2 billion investment in AI cloud firm Nebius Group. The announcement sent Nebius shares up 15% on Wednesday and highlighted Nvidia’s strategy of supporting
Stellar (XLM) is the best performer among the top 20 cryptocurrencies by market cap, up 7% in the last 24 hours. The coin is trading around $0.16 after posting a modest rebound on the previous day. However, mixed on-chain and derivatives data indicate traders remain cautious despite the ongoing recovery efforts. The technical indicators suggest
Artificial intelligence infrastructure startup Nexthop AI has raised $500 million. The investment round, led by Lightspeed Venture Partners with participation from Andreessen Horowitz and existing backers Altimeter Capital and Kleiner Perkins, values the company at $4.2 billion. The deal reflects rising tech spending as companies race to expand computing capacity for AI systems and the