Michelle Davenport Business Editor 
A high-stakes bidding war has broken out for Banca Monte dei Paschi di Siena (MPS), recognized as the world’s oldest bank, after two rival Italian lenders stepped forward with competing proposals. Founded in 1472 in Siena by the Republic of Siena to extend credit to impoverished citizens, the Tuscan institution has grown over more than … Read more
President Donald Trump has struggled to secure interest rate cuts despite his public pressure on the Federal Reserve, as rising borrowing costs and economic challenges complicate his re-election strategy. President Donald Trump has faced mounting challenges in his push to lower U.S. interest rates, a key pillar of his economic messaging that has clashed with … Read more
Chancellor John Healey will deliver his first Budget on Wednesday, October 28, under Prime Minister Andy Burnham. The Treasury chief pledged a package built on fiscal discipline designed to move money and power out of Westminster and into local communities across Britain. Chancellor John Healey Sets 28 October Date for First Budget Chancellor John Healey … Read more
Major oil companies posted surging profits in the spring as U.S. and Israeli military conflict with Iran restricted shipping through the Strait of Hormuz, driving global Brent crude past $100 a barrel and pushing U.S. gasoline to $4.11 per gallon by late July. American oil and gas producers booked massive financial gains during the spring … Read more
South Korea’s Kospi index jumped nearly 18% on Friday, leading a sharp rebound across Asian markets as artificial intelligence stocks recovered from earlier losses. The dramatic rally followed strong quarterly earnings from Microsoft and a suspected coordinated currency intervention by U.S. and Japanese regulators to stabilize the yen. Global financial markets experienced a violent swing … Read more
The dramatic reversal was driven by a powerful wave of buying in heavy-hitting chipmaking stocks, tracking global market relief over strong artificial intelligence earnings. Samsung and SK Hynix Lead a Massive Market Rebound in Seoul South Korea’s benchmark Kospi index clawed back lost ground on Friday, jumping more than 16% in early trading before settling … Read more
Tesla executives have been instructed to prepare for a potential separation of the company’s China business as part of preparations for a potential merger with Reuters, according to a report by the WSJ. Advisers have discussed several options for separating the operation, including a spinoff, a sale, or a complete closure, though sources noted that … Read more
Microsoft soared over 15% on Thursday, July 30, 2026, logging its biggest daily percentage gain in 18 years after forecasting upbeat sales and cloud growth. The tech giant’s stellar report eased investor anxiety over massive artificial intelligence infrastructure spending, helping Wall Street’s S&P 500 rally 1.7% and recover from its worst drop in seven weeks. … Read more
U.S. stocks rebounded sharply on Thursday, driven by a 15% surge in Microsoft following strong Azure results and a broader recovery in semiconductor shares. The gains followed a severe Federal Reserve-induced selloff, while the 30-year Treasury yield climbed to a 19-year peak amid ongoing inflation concerns. U.S. equities clawed back ground after the prior day’s … Read more
Federal Reserve Chairman Kevin Warsh faced an immediate market backlash on Wednesday, as the central bank held benchmark interest rates steady at 3.50%–3.75%. Equities tumbled globally, with the S&P 500 dropping 2.4% intra-day, after Warsh signaled a hawkish stance focused on combating persistent inflation. The Federal Reserve left its benchmark fed funds rate range unchanged … Read more