News
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Commodities
Europe Gasoline/Naphtha-Gasoline margins edge higher in busy trading
LONDON, May 16 (Reuters) - Northwest European gasoline profit margins rose slightly on Friday to $14.54 a barrel on brisk trading activity and lower regional inventories. A total of 16,500 metric tons of Eurobob E5 barges traded in the Argus window on Friday, an increase of more than twofold on the ...Reuters
Fri, May 16
Other
UAE partners with Italian startup for AI supercomputer
By Elvira Pollina MILAN, May 16 (Reuters) - United Arab Emirates tech firm G42 agreed on Friday to partner with Italian artificial intelligence startup iGenius to develop a major AI supercomputer in Italy, the companies said in a joint statement.The deal is part of a broader framework announced a...Reuters
Fri, May 16
Stocks
US STOCKS-Wall Street set for weekly gains on trade deal, weak data curbs enthusiasm
Indexes up: Dow 0.04%, S&P 500 0.17%, Nasdaq 0.12%Charter Communications rises after co to buy Cox CommunicationsU. Mitch Consumer Sentiment Index at 50.8 vs 53.4 estimateApplied Materials falls after Q2 revenue miss By Pranav Kashyap and Shashwat Chauhan May 16 (Reuters) - Wall Street's ...Reuters
Fri, May 16
Commodities
Gold retreats below $3,200 as safe-haven demand fades, down over $300 from record high
Gold (XAU/USD) continues to decline on Friday, falling toward $3,180 and marking a sharp weekly loss of over 4%, its biggest since November 2024. The precious metal has now shed over $300 from its record high of $3,500 set in April, as safe-haven demand weakens and technical selling accelerates.
Fxstreet
Fri, May 16
Other
'Big Short' investor Michael Burry doubles stake in cosmetics maker Estee Lauder
By Anuja Bharat Mistry May 16 (Reuters) - Michael Burry's Scion Asset Management has doubled its stake in Estee Lauder EL.N, at a time when the beauty giant's new CEO is steering the company through a transformation to overcome weak demand in key markets such as North America and China. T...Reuters
Fri, May 16
Stocks
Pioneer Power Solutions Inc reports results for the quarter ended March 31 - Earnings Summary
Pioneer Power Solutions Inc PPSI.OQ reported a quarterly adjusted loss of 9 cents per share for the quarter ended March 31, higher than the same quarter last year, when the company reported EPS of -10 cents. The mean expectation of two analysts for the quarter was for a loss of 4 cents per share....Reuters
Fri, May 16
Stocks
Acadia Pharma soars after favorable court ruling in patent dispute
** Shares of drug developer Acadia Pharmaceuticals ACAD.O rise 34.2% to over 1-year high of $23.61** U.S. District Court for the District of Delaware has ruled that India's Aurobindo Pharma infringes on two of Acadia Pharmaceuticals' patent claims ** The court has rejected Aurobindo's ar...Reuters
Fri, May 16
Stocks
LIVE MARKETS-Treasury yields may fall with more clarity on US budget
Main US indexes edge higher; S&P 500 up ~0.2%Healthcare leads S&P 500 sector gainers; Energy, tech dipDollar rallies; bitcoin up ~1%; crude up ~1.5%; gold down >1.5%U.S. 10-Year Treasury yield edges down to ~4.44%Welcome to the home for real-time coverage of markets brought to you by Reut...Reuters
Fri, May 16
Other
EXCLUSIVE-Boeing nears deal to avoid guilty plea, prosecution in 737 MAX crashes case, sources say
By Mike Spector, David Shepardson, Allison Lampert and Chris PrenticeNEW YORK/WASHINGTON, May 16 (Reuters) - Boeing has reached a tentative nonprosecution agreement with the U.S. Department of Justice in a fraud case stemming from two fatal 737 MAX plane crashes that killed 346 people, people famili...Reuters
Fri, May 16
Stocks
UBS downgrades Iovance on sluggish uptake of skin cancer drug
** Brokerage UBS downgrades drugmaker Iovance Biotherapeutics IOVA.O to "neutral" from "buy", trims PT to $2 from $17** New PT still implies a 13.6% upside to the stock's last close** Iovance's sales of its skin cancer drug, Amtagvi, were lower-than-expected in the first quar...Reuters
Fri, May 16
Other
INSTANT VIEW-Novo Nordisk CEO's surprise exit after setbacks in weight-loss market
LONDON, May 16 (Reuters) - Wegovy-maker Novo Nordisk NOVOb.CO said on Friday its CEO Lars Fruergaard Jorgensen will step down over concerns the company is losing its first-mover advantage in the highly competitive obesity drug market.Here are reactions to the news from analysts and investors in alph...Reuters
Fri, May 16
Other
US SEC buyouts hit legal, investment divisions hardest, data shows
By Douglas Gillison, Chris Prentice May 15 (Reuters) - Wall Street's top regulator saw the biggest drop in staff numbers at divisions handling legal affairs, investment management and trading and markets following buyout programs offered by the Trump administration, data showed on Thursday.Th...Reuters
Fri, May 16
Other
Exclusive: Allied World the latest carrier to mandate five in-office days for employees
By Isha MaratheMay 16 - (The Insurer) - Allied World has become the latest carrier to mandate its employees go back to a five-day in-office work week, with the action taking effect from September 29, based on an internal memo the company sent to its U.S. and Canada employees.Sources with knowledge ...Reuters
Fri, May 16
Other
Iran says it has not received proposal from US over nuclear deal
May 16 (Reuters) - Iran has not received any written proposals from the United States over a possible nuclear deal, Iran's Foreign Minister Abbas Araqchi Friday, a few hours after President Donald Trump said Iran had a proposal. Araqchi said on X there were no proposals "whether directly or ...Reuters
Fri, May 16
Cryptocurrencies
Ethereum Looks Ready To Break Out Of 4-Year Consolidation, Analyst Says Price Will ‘Go Insane’
Ethereum is again looking bullish following its gains of over 17% in the last seven days and the break above $2,500. Analysts have provided a positive outlook for the second-largest crypto by market cap, predicting that its price could soon go parabolic after an extended consolidation period. Ethere...NewsBTC
Fri, May 16
