The Iran War has proven to Tehran that its most feared weapon is its ability to close the Strait of Hormuz, and the country’s new leadership will not ever give up its rule over the strategic waterway, according to a report in the Financial Times.
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ECONOMIC UPDATE
As the Ukraine and Iran Wars ramp up, the world is on the precipice of World War III becoming “official.”
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BIG STOCK SALES OVERWHELM INVESTORS, THREATEN THE BULL MARKET
In the last few weeks, equity markets have been swamped by deals of a size rarely seen.
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COMPANIES SCRAMBLE TO COPE WITH WAR’S FALLOUT
For businesses, the Iran War’s twin legacies will be higher prices and lingering uncertainty.
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CHINA IS VIEWED MORE POSITIVELY THAN U.S. IN 25 OF 36 COUNTRIES, ACCORDING TO SURVEY
A newly released survey found that China is viewed more positively in 25 out of 36 countries, which is the first time in 20 years that Beijing is more popular than Washington in the majority of countries involved in the survey.
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U.S. IS PAYING $23.8 BILLION A WEEK IN INTEREST ON NATIONAL DEBT
During this fiscal year that began on 1 October, the U.S. government has been borrowing an average of $39 billion a week, running up a budget deficit so far of almost $1.4 trillion, and is now paying $23.8 billion a week in interest on that debt, Fortune magazine reported.
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SPECIAL REPORT: IRAN WAR THREATENS GLOBAL FUEL SUPPLIES
U.S. oil reserves increased by three million barrels during the week of 3 July but that was a proverbial drop in the bucket.
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GLOBAL INFLATION WILL ACCELERATE, IMF FORECASTS
The renewed hostilities along the Persian Gulf are likely to accelerate global inflation, roil supply chains, and bog down financial markets, the International Monetary Fund (IMF) warned in an 8 July report.
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SPOTLIGHT: AI STRAINS THE U.S. UTILITY INDUSTRY
AI’s surging power demand will continue for years.
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FED OFFICIAL URGES AN END TO FORWARD GUIDANCE
The U.S. Federal Reserve’s Open Market Committee routinely offers “forward guidance” – an indication of how interest rates might change in the future – after its meetings.