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Chevron to invest $7 billion in Venezuela over five years to double oil output
Business News

Chevron to invest $7 billion in Venezuela over five years to double oil output

American Chevron will invest $7 billion over the next five years to double its oil production in Venezuela.
Uber cuts 3,300 jobs, about 10% of workforce
Business News

Uber cuts 3,300 jobs, about 10% of workforce

Taxi service Uber will cut 3,300 jobs, which is about 10 percent of the company's total workforce.
Anthropic signs $35 billion cloud deal with Nvidia-backed Lambda amid capacity shortage
Business News

Anthropic signs $35 billion cloud deal with Nvidia-backed Lambda amid capacity shortage

Two oil tankers hit in Strait of Hormuz as Brent prices rise
World News

Two oil tankers hit in Strait of Hormuz as Brent prices rise

Two large oil tankers heading out of the Persian Gulf via the Strait of Hormuz have been hit by unknown projectiles, Bloomberg reports, citing maritime security consultant Mariks.
German inflation rises to highest level since last spring as ECB rate hike bets grow
Business News

German inflation rises to highest level since last spring as ECB rate hike bets grow

German inflation is now rising to its highest level since last spring. The likelihood of an interest rate hike by the European Central Bank (ECB) is now growing
Swedish krona weakest among G10 currencies against dollar this year
Business News

Swedish krona weakest among G10 currencies against dollar this year

After strong gains last year, the Swedish krona has instead performed worst against the US dollar among the world's most traded currencies.
US secures 100-year deal for control of Venezuela oil reserves, report says
Business NewsTop News

US secures 100-year deal for control of Venezuela oil reserves, report says

The United States has reached a deal that will give it “majority American control” for a century over at least 65 billion barrels of Venezuela’s oil reserves. Venezuela has confirmed that a deal has been reached, calling it “historic
Strong growth raises risk of Swedish central bank rate hike this year
Business News

Strong growth raises risk of Swedish central bank rate hike this year

Strong GDP figures, positive household sentiment and a buoyant economy increase the risk that the Swedish Central Bank will raise the key interest rate already this year, according to Nordea. State-owned SBAB, in turn, predicts a hike in the key interest rate in November this year
Amazon secures wind power for Swedish data centres from four farms
Business News

Amazon secures wind power for Swedish data centres from four farms

The American e-commerce giant Amazon has reached an agreement to supply electricity from four Swedish wind farms to secure more power for its data centers in the country. The agreement concerns almost 200 megawatts, Amazon writes in an emailed comment to Bloomberg
French inflation rises to 2.7% in August, above forecast
Business News

French inflation rises to 2.7% in August, above forecast

Preliminary estimates show that inflation in France rose to 2. 7 percent in August, up from 2
Swedish confidence improves as growth beats expectations, price hikes loom
Business News

Swedish confidence improves as growth beats expectations, price hikes loom

Sentiment is stronger than normal among Swedish households, according to a barometer from the National Institute of Economic Research (KI). And more companies than normal expect to be able to raise prices
Intrum profit falls more than expected in second quarter
Business News

Intrum profit falls more than expected in second quarter

Credit management company Intrum reports an adjusted operating profit of SEK 1. 15 billion for the second quarter of this year
Venezuela considers leaving OPEC as U.S. influence over oil resources grows, Bloomberg says
Business News

Venezuela considers leaving OPEC as U.S. influence over oil resources grows, Bloomberg says

Venezuela is considering leaving OPEC as the United States increases its influence over the country's oil resources, Bloomberg reports, citing sources.
Oil prices pressured as Gulf oil traffic through Strait of Hormuz rises
Business News

Oil prices pressured as Gulf oil traffic through Strait of Hormuz rises

The world market price of crude oil is being dampened as oil traffic through the Strait of Hormuz has increased. Kuwait and Qatar have followed the United Arab Emirates, which has for some time been exporting large volumes of oil using shuttle traffic near the coast of Oman
Pernod Ricard profit falls more than expected as annual sales drop 14%
Business News

Pernod Ricard profit falls more than expected as annual sales drop 14%

Pernod Ricard, which includes Absolut Vodka, reported sales of €9. 4 billion for the recently concluded financial year, in line with expectations, despite a 14 percent decline from a year earlier
Nvidia beats expectations as revenue more than doubles, stock rises after hours
Business News

Nvidia beats expectations as revenue more than doubles, stock rises after hours

The American semiconductor giant Nvidia beat analysts' expectations with its quarterly report. The stock rose in after-hours trading
US economy grew 1.5% in the second quarter, Commerce Department says
Business News

US economy grew 1.5% in the second quarter, Commerce Department says

The US economy grew by 1. 5 percent in the second quarter, according to statistics from the US Department of Commerce
US core inflation rises in line with forecasts, monthly price gains top expectations
Business News

US core inflation rises in line with forecasts, monthly price gains top expectations

Core inflation in the United States rose to 3. 3 percent in July, according to the so-called PCE measure
Huawei bids for major AI data center deal in Egypt, report says
Business News

Huawei bids for major AI data center deal in Egypt, report says

Tech giant Huawei Technologies - Nvidia’s biggest Chinese competitor - has offered to build a new large AI data center in Egypt, as the Trump administration tries to get American companies to come up with a better offer.
Canada to unveil tariff response to protect businesses and workers
Business News

Canada to unveil tariff response to protect businesses and workers

The tariff dispute between Canada and the United States continues to escalate. The Canadian government will announce measures on Tuesday to “protect and support” businesses and workers in the country
Nvidia to raise prices on AI chip servers by 15%, report says
Business News

Nvidia to raise prices on AI chip servers by 15%, report says

Norway fears further US tariff increases after trade talks in Washington
Business News

Norway fears further US tariff increases after trade talks in Washington

Norway says it expects further tariff increases from the Trump administration after a new round of trade talks in Washington.
Massive AI investments push up long-term interest rates
Business News

Massive AI investments push up long-term interest rates

Nearly four years of massive investments in AI infrastructure around the world are about to become an interest-rate shock for highly leveraged households and companies in Sweden. Gigantic loans are needed to keep pace with the investments
Wall Street edges higher after U.S. inflation falls to 3.4% in July
Business News

Wall Street edges higher after U.S. inflation falls to 3.4% in July

Two of the three leading indexes on Wall Street rose after a report showed that inflation in the United States fell to 3. 4 percent in July - in line with expectations
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