Author: Jack Mulligan

Tariff warnings and supply increases unsettle energy markets Oil prices dipped on Monday as investors weighed fresh supply news from OPEC+ alongside geopolitical tensions sparked by U.S. President Donald Trump’s threats to penalize India for continuing to import Russian crude. West Texas Intermediate crude hovered near $66 per barrel after sliding to its lowest level in a week. The Organization of the Petroleum Exporting Countries and its allies (OPEC+) announced an additional output hike of 547,000 barrels per day for the upcoming month. This increase effectively reverses a cut implemented in 2023 by eight member states, including Saudi Arabia and…

New rates start in September amid push for profitability Spotify announced that its Premium individual subscription rates will increase globally beginning in September. The move comes as part of the company’s broader effort to improve profit margins and offset rising operational costs. Customers in Europe will see monthly fees rise from €10.99 to €11.99, with similar hikes planned for subscribers in Latin America, the Middle East, Africa, South Asia, and the Asia-Pacific region. Spotify has begun notifying users, stating that affected subscribers will receive official emails detailing the price adjustments within the coming weeks. Stock rebounds after earnings stumble The…

New contract streamlines Army tech under one enterprise framework Palantir has landed a landmark contract with the U.S. Army valued at up to $10 billion, reinforcing its role as a central player in military artificial intelligence and defense modernization. The agreement spans ten years and consolidates 75 separate contracts into a single enterprise deal, dramatically simplifying procurement and reducing bureaucratic delays. According to an official release, the deal establishes a long-term framework for meeting the Army’s evolving software and data needs. It allows for flexible purchasing without incurring additional contract fees or extended procurement timelines. The move reflects the government’s…

President demands aggressive policy shift amid weak job data President Donald Trump has publicly called for the Federal Reserve’s board of governors to override Chair Jerome Powell and impose immediate interest rate cuts, escalating months of criticism against the central bank’s leadership. In a Truth Social post on Friday, Trump labeled Powell as “stubborn” for resisting calls to slash rates amid mounting economic pressure. Trump’s remarks followed a weak July jobs report, which showed only 73,000 new jobs added, with significant downward revisions to prior months. The president framed rate cuts as essential for fueling growth and easing debt burdens,…

Central bank keeps interest rate at 2.75 percent The Bank of Canada (BoC) left its overnight interest rate unchanged at 2.75 percent on Wednesday, reflecting ongoing concerns about global trade tensions, particularly those involving the United States. The hold was widely anticipated by economists, who cited both domestic economic resilience and persistent external risks as influencing the decision. Governor Tiff Macklem emphasized the unpredictability of U.S. tariffs, noting that the BoC would continue to provide multiple economic outlooks rather than a singular forecast. “U.S. policy remains too uncertain to offer a single economic projection,” he said. The Monetary Policy Report…

Shares surge 49% YTD as AI chips boost sentiment Advanced Micro Devices, Inc. (NASDAQ:AMD) is seeing a strong rebound in 2025, with its stock up 49% year-to-date. The gains come as investors grow more confident in AMD’s ability to compete in the artificial intelligence (AI) chip market. After initially trailing Nvidia due to the latter’s early dominance in AI accelerators, AMD is now viewed as a credible challenger, particularly with the rollout of its own AI-focused GPUs and CPUs. Investor sentiment has been supported by comments from market observers and analysts who believe AMD could gain meaningful market share in…

Economists Expect Hiring to Hit 10-Month Low The upcoming U.S. jobs report is forecast to show a marked slowdown in hiring, with economists predicting that only 100,000 jobs were added in July. This would represent the weakest employment growth since October and a decline from the 147,000 jobs reported in June. The unemployment rate is expected to edge up to 4.2%, slightly above the previous 4.1% figure, continuing the narrow range observed since mid-2024. The Bureau of Labor Statistics is scheduled to release the report on Friday. If confirmed, the data may signal mounting pressure on the labor market stemming…

Fed Keeps Rates Steady, Avoids September Guidance U.S. stocks ended mixed on Wednesday following the Federal Reserve’s decision to maintain interest rates. The central bank acknowledged moderate economic growth and left room for future policy adjustments, but gave no clear signals about a potential rate cut in September. While the decision to hold was expected, two Fed governors opposed it, favoring an immediate cut. During the press conference, Chair Jerome Powell emphasized that any future rate decisions will depend on incoming data. He noted that it remains too early to assess the full impact of ongoing trade policies on economic…

Maggie Gauger to Lead Brand Amid Sales Decline Athleta, Gap Inc.’s women-focused activewear brand, has appointed Maggie Gauger — Nike’s head of North America women’s business — as its new CEO. Gauger, who spent over two decades at Nike, becomes Athleta’s third chief executive in just two years. She replaces Chris Blakeslee, who will stay on temporarily to ensure a smooth leadership transition. Gauger steps in during a pivotal period for Athleta, which has seen a series of quarterly sales declines despite recent partnerships with high-profile athletes and new product lines. The brand’s performance has weighed heavily on Gap’s overall…

Finance Minister Pushes for Copper Deal Inclusion Chile’s Finance Minister Mario Marcel said Monday that copper tariffs will be a key topic in this week’s U.S.-Chile trade negotiations in Washington. Speaking on Chilean radio, Marcel emphasized the need for copper to be part of a broader trade agreement, rather than a separate issue. This comes as President Donald Trump’s administration prepares to enforce 50% tariffs on copper imports starting August 1. Chile, the world’s largest producer of copper and the top supplier of refined copper to the U.S., fears the tariffs could significantly impact its trade flow. Although the majority…