Tag: USA

The U.S. has issued a sweeping rollback of sanctions on Iranian oil, allowing dollar-denominated trade for the first time in more than four decades, as Washington and Tehran press on with fragile talks toward a permanent peace deal.

Oil prices fell early Monday, reversing earlier gains, as mediators stepped in to ease tensions between the U.S. and Iran over the weekend.

The Federal Energy Regulatory Commission (FERC) told grid operators on Thursday to fast-track interconnection requests from data centers and other large electricity users.

The U.S. and Iran said they had agreed terms to end ​their war and reopen the Strait of Hormuz, news that brought relief to markets although the pact may hinge on an end to hostilities in Lebanon and defers talks on Tehran’s ‌nuclear programme.

A memorandum between the United States and Iran to halt the war in ​the Gulf could be signed as soon as Sunday, a Western source told Reuters on Friday, with Geneva emerging as the likeliest venue.

Oil extended a slide from the previous session on Friday, as hopes grew that a peace deal between the U.S. and Iran which would reopen the Strait of Hormuz may be signed soon.

U.S. President Donald Trump repeated the claim that a deal to end the war in Iran could be reached in “two or three days,” and that the critical Strait of Hormuz would reopen “immediately” after such a deal.

U.S. President Donald Trump told reporters on Friday that his team is looking into the idea of AI companies giving the American public a ​stake in their firms, adding that he planned to host a ‌meeting with AI executives as soon as next week.

Job growth unexpectedly surged in May as the U.S. labor market continued a solid year of expansion, the Bureau of Labor Statistics reported Friday.

Fitch Ratings has cut its global growth forecast and raised its crude price outlook, warning that the oil shock stemming from the U.S.-Iran conflict is inflicting broad damage on the world economy.

The war in the Middle East has dented economic growth prospects worldwide, with a more severe shock likely if no effective ceasefire is agreed before 2027, the OECD warned Wednesday.

The Office of the U.S. Trade Representative has proposed additional tariffs of up to 12.5% on imports from 60 economies over their failure to ban goods made with forced labor, in a sweeping action that would hurt most trading partners, including China, the European Union and Japan.

US President Donald Trump said talks with Iran over an interim peace deal will “work out well,” even as the countries’ forces clashed again near the Strait of Hormuz.

Inflation continued to hit consumer wallets in April, likely keeping the Federal Reserve on the sidelines until the current wave subsides, fresh pricing data released Thursday showed.

There is an “elevated” risk of a market correction, European Central Bank vice president Luis De Guindos told CNBC on Wednesday, as stock indices notch fresh record highs despite a combination of geopolitical turmoil, fiscal challenges and outsized valuations.

Mortgage costs across Europe and North America have risen sharply as the economic impact of the Middle East war spills into housing markets, piling pressure on borrowers wanting to buy a new home or refinance.

U.S. President Donald Trump departed Beijing Friday after two days of talks with Chinese President Xi Jinping that ran the gamut from Iran and Taiwan to trade, oil and Boeing.

The U.S. can talk to China about AI because “we are in the lead,” U.S. Treasury Secretary Scott Bessent told CNBC, as the countries unveiled a protocol on best practices for the rapidly improving technology.

Sales at U.S. retailers rose more modestly last month. Retail sales rose 0.5% in April from March, the Census Bureau reported Thursday. That’s a touch below consensus forecasts for a 0.6% increase in April and a pullback from the revised 1.6% surge in March. April sales rose 4.9% from a year ago.

Prices that consumers pay for a wide range of goods and services increased at a faster-than-expected pace in April, raising further concerns about the inflationary impact on the U.S. economy.