Monday, August 24
Oil prices settled more than 2% lower on Friday as investors weighed a looming global supply glut, while also keeping an eye on a potential Ukraine peace deal ahead of talks this weekend between Ukrainian President Volodymyr Zelenskiy and U.S. President Donald Trump. Brent crude futures settled down $1.60 or 2.57% to $60.64 per barrel. U.S. West Texas Intermediate (WTI) crude settled down $1.61 or 2.76% to $56.74. While supply disruptions have helped oil prices rebound in recent sessions from their near five-year low on December 16, they are on track for their steepest annual decline since 2020. Brent and WTI are down 19% and 21% respectively on the year, as rising crude output caused concerns of an oil glut heading into next year. "Geopolitical premiums have provided near-term
Heatwaves, wildfires, droughts, and storms cost the world more than USD 120 billion in 2025, according to a new report analysing the escalating cost of climate change. The report by UK-based NGO Christian Aid underscores the cost with fossil fuel companies playing a central role in driving the crisis. The report noted that cost of climate inaction is equally clear, as communities continue to bear the brunt of a crisis that could have been averted with urgent action to reduce greenhouse gas emissions. "These disasters are not natural - they are the predictable result of continued fossil fuel expansion and political delay," said Emeritus Professor Joanna Haigh, at Imperial College London. The ten most financially costly events all had an impact of more than USD billion with the combined tota
Investors have piled into climate-friendly assets this year despite policy and regulatory rollbacks in the US and Europe, as artificial intelligence drives a boom in energy infrastructure demand.Global green bond and loan issuance has reached a record $947 billion so far this year, according to data compiled by Bloomberg Intelligence. That’s as stock market gauges for renewables are set for their first annual gains since 2020, outperforming the S&P 500 by a wide margin, while shares of power-grid technology companies remain in favor.The flows are notable in a year when US President Donald Trump backed fossil fuels and dismantled clean-energy subsidies and legislation. Europe also has rolled back some of its toughest environmental rules amid concerns about growth and competitiveness.S
Twenty years ago, India’s skies were crowded with competition. Multiple airlines battled for every passenger, every route and every fare. Jet Airways, Indian Airlines, Kingfisher, Sahara—each fought to survive on price, service, and network strength.Today, that noise has faded. IndiGo and Air India together control nearly 90% of the domestic aviation market. Something fundamental has changed in India’s markets and not for the better.Let me be direct about what concerns me most. It’s not market volatility. It’s not even global headwinds. It’s the slow, silent consolidation of Indian markets into what economists call duopolies—structures where just two players control everything that matters.After navigating multiple market cycles, I’ve learned one enduring truth: competition
Coinbase Global Inc. Chief Executive Officer Brian Armstrong said that a former customer service agent for the largest US crypto exchange was arrested in India, months after hackers bribed customer service representatives to gain access to customer information.In May, the company said hackers bribed contractors or employees outside the US to steal sensitive customer data and demanded a $20 million ransom, in one of the most high-profile security breaches of a crypto trading platform. At the time, San Francisco-based Coinbase estimated the incident could cost up to $400 million to remedy. "We have zero tolerance for bad behavior and will continue to work with law enforcement to bring bad actors to justice. Thanks to the Hyderabad Police in India, an ex-Coinbase customer service agent was ju
Investors are looking for the U.S. stock market to end 2025 on a high note next week, with equities at record peaks and nearing further bullish milestones to close out another strong year. Major U.S. indexes were on course to end December higher after stocks shook off turbulence earlier in the month driven by weakness in technology shares over worries tied to spending on artificial intelligence. The S&P 500 posted a record close on Wednesday, ahead of the Christmas holiday on Thursday, and was about 1% from reaching the 7,000 level for the first time. The benchmark index was on track for its eighth straight month of gains, which would be its longest monthly winning streak since 2017-2018. "Momentum is certainly on the side of the bulls," said Paul Nolte, senior wealth advis
