Ford Motor Co. has reached a tentative three-year labor contract with Canada's Unifor union, covering over 5,000 workers and potentially setting a precedent for talks with GM and Stellantis.
Fitch Ratings has affirmed BlackRock TCP Capital Corp.'s 'BB' rating but revised its outlook to Negative, citing elevated non-accrual loans and leverage despite recent stabilization in the BDC's credit metrics.
Shale producer Occidental Petroleum reported a 38.4% sequential increase in its second-quarter realized oil prices, driven by a geopolitical risk premium from the U.S.-Iran conflict, according to a company filing.
The U.S. military conducted retaliatory strikes against Iran after its forces attacked a Cyprus-flagged container ship, according to U.S. Central Command. The escalation in the critical Strait of Hormuz raises concerns for global energy markets and shipping.
Meta has discontinued its new 'Muse Image' AI feature, which used public Instagram photos for image generation, following significant criticism over its automatic opt-in policy from users and the SAG-AFTRA union.
Iran's Islamic Revolutionary Guard Corps Navy has closed the critical Strait of Hormuz after striking a vessel, threatening global oil supplies and intensifying a standoff with the United States.
Russia's benchmark stock index, the MOEX, fell 2.13% to its lowest point in three years, dragged down by significant losses in the mining, oil, and gas sectors. The decline was accompanied by a spike in market volatility and a weaker ruble.
The navy of Iran's Islamic Revolutionary Guard Corps has reportedly closed the critical Strait of Hormuz shipping lane until further notice following an incident where a warning shot was fired at a vessel.
Angola's central bank has authorized commercial banks to use the Chinese yuan to meet mandatory foreign-currency reserve requirements, a move that underscores the growing economic influence of Beijing in the African nation.
