Brazil's government has prolonged a 12% export tax on crude oil for an additional 60 days, citing international market conditions. The revenue is intended to fund domestic fuel subsidies amid volatile energy prices.
Turkey and Iraq are days away from signing a new one-year agreement to ensure the continued operation of a key crude oil pipeline, according to Turkish Energy Minister Alparslan Bayraktar.
Morocco's benchmark stock index, the Moroccan All Shares, closed lower on Thursday, dragged down by losses in the key banking, mining, and utilities sectors. The market saw more declining stocks than advancing ones.
The AI data startup is discussing a new funding round that would double its valuation from less than a year ago, driven by a surge in its annualized revenue run rate to $2 billion, according to Bloomberg.
The clinical-stage biopharmaceutical company received clearance from the European Medicines Agency to use its commercially manufactured GP2 immunotherapy in a pivotal Phase III trial, unifying the drug supply across US and European sites.
The U.S. Commodity Futures Trading Commission has blocked CME Group's plan to introduce round-the-clock trading for crude oil futures, citing procedural issues and an ongoing public comment period.
Meta Platforms has released an upgraded AI model, Muse Spark 1.1, and opened its API to developers with a new pay-as-you-go pricing model, signaling a direct competitive move against the business models of OpenAI and Anthropic.
Analysts at Bernstein have identified Waste Connections and Ferguson as top investment opportunities in the business services sector, citing strong market positioning and growth catalysts. The firm holds a more cautious view on Cintas due to regulatory hurdles in its pending acquisition.
A Q2 survey of 100 IT decision makers by Citi shows Microsoft is the top choice for increased AI spending, while overall IT budget growth expectations have accelerated to 3.3%.
