Browsing: Business

Oil prices surged to multi-month highs as US crude stockpiles fell for the sixth straight week, boosting WTI and Brent amid tightening supplies and bullish technical trends.

FedEx announces plans to spin off FedEx Freight into a new public company within 18 months, creating North America’s largest LTL carrier and boosting operational efficiency.

Honda and Nissan are reportedly in early-stage talks to merge, aiming to compete with dominant EV makers like BYD in a rapidly evolving global market.

Pfizer forecasts 2025 revenue of up to $64 billion and adjusted earnings growth, navigating cost challenges amid Medicare changes and advancing promising drug pipeline assets, including its weight-loss candidate.

Drydocks World, in partnership with GE Vernova and 50Hertz, will deliver Germany’s Ostwind 4 project, connecting Baltic Sea wind farms to the grid with 2GW of renewable energy.

Global trade will hit $33 trillion in 2024, driven by services sector growth, while goods trade lags behind, UNCTAD reports. Opportunities exist for diversification despite challenges.

U.S. Treasury yields dropped as markets await key inflation data from the Fed. PCE inflation is expected to guide future monetary policy and determine December rate cuts.

Boeing announces layoffs for 438 employees amid financial challenges, citing overstaffing. The move is part of a broader 10% workforce reduction plan impacting 17,000 positions.

Korean domestic firms see first sales decline in four years, impacted by weak consumer spending and sluggish investment, raising concerns about the country’s economic recovery.

ADNOC L&S posts AED643 million Q3 profit, rising 18% YoY as it expands logistics and shipping operations, fueling overall nine-month revenue growth by 38% in a solid 2024 performance.