Oil prices increased in Asian trading on Wednesday, driven by expectations that major producers will sustain output cuts in an upcoming meeting on Sunday, and by the anticipated rise in fuel consumption as the peak summer demand season begins. By 0630 GMT, Brent crude futures for July delivery had gained 18 cents, or 0.2%, […]

  JPMorgan Chase (NYSE) is closely coordinating with local officials following a building explosion in Youngstown, Ohio, a bank spokesperson confirmed. The statement came after a video of the alleged blast was shared on X. The company is currently ensuring the safety of individuals in the building and the surrounding area. The spokesperson added that

  A New York prosecutor told jurors on Tuesday that the hush money payment central to former President Donald Trump’s criminal trial was an attempt to “deceive the American voter” during the 2016 election, as attorneys presented their closing arguments. Prosecutor Joshua Steinglass argued that the $130,000 payment made to ensure porn star Stormy Daniels

  A European private wealth manager in Hong Kong shared with me last week that he recently secured a Taiwanese billionaire’s account, thanks to geopolitics. The billionaire had narrowed down his choices to two major wealth managers—UBS and JPMorgan Chase—after the collapse of Credit Suisse last year. He wanted to add a third bank but

    Bitcoin’s price edged up slightly on Wednesday but remained confined within a recent trading range as caution over U.S. inflation and interest rates kept traders wary of risk-driven assets like cryptocurrencies. However, the world’s largest cryptocurrency saw some relief after media reports suggested that crypto exchange Mt. Gox clarified it had no immediate

  The dollar strengthened on Wednesday due to increasing expectations that the Federal Reserve will delay cutting rates until later this year, ahead of critical inflation reports. Meanwhile, the yen weakened to its lowest point in four weeks. The rise in Treasury yields also bolstered the dollar, following a tepid response to the auction of

  Gold prices steadied in Asian trade on Wednesday as traders focused on upcoming U.S. inflation data and interest rate decisions. A somewhat hawkish outlook on U.S. interest rates kept caution high in metal markets. In industrial metals, copper prices remained rangebound due to cooling optimism over Chinese stimulus measures and anticipation of more economic

  Most Asian currencies weakened on Wednesday, with the Chinese yuan touching its lowest level in six months due to persistent fears of high U.S. interest rates, which kept traders favoring the dollar. Sentiment towards risk-driven regional markets remained weak, especially as hawkish comments from the Federal Reserve continued to emerge. Concerns over sluggish regional

  Most Asian stocks declined on Wednesday due to ongoing concerns that persistent inflation will compel major central banks to maintain high interest rates for an extended period. Chinese markets were a notable exception, posting slight gains after the government introduced additional measures to support the struggling property sector. Regional stocks received mixed signals from