Chevron and Microsoft have struck a 20-year supply deal to power a massive new AI data center in Texas with natural gas. The agreement underlines how the AI boom is reviving fossil-fuel demand even as the sector pledges decarbonisation.
Alan Greenspan, who chaired the Federal Reserve from 1987 to 2006, has died at 100. He shaped US monetary policy across five presidencies and remained a contested figure over the housing-debt build-up that preceded the 2008 crisis.
China imposed export controls and government procurement bans on dozens of U.S. firms in retaliation for the Pentagon adding Chinese technology companies to its 1260H list. The targeted firms span defence, aerospace and semiconductor supply chains, according to Beijing's commerce ministry. The move marks a fresh front in the bilateral technology dispute.
The United States and Iran agreed a 60-day roadmap toward a final deal in the first round of negotiations under a memorandum of understanding signed last week. The two sides also said they had agreed to end military operations in Lebanon, extending a fragile ceasefire by 60 days. The Geneva talks, mediated by Qatar and Pakistan, mark the most concrete de-escalation step in months.
Goldman Sachs analysts cut their 2026 global smartphone shipment forecast by 2.4 percent, citing a sudden spike in DRAM and NAND prices squeezing manufacturer margins. Apple, Xiaomi and Samsung are flagged as the most exposed brands. HBM prioritisation in supply chains is also feeding through.
President Trump threatened fresh airstrikes on Tehran within hours of Vice President Vance opening the first direct US-Iran talks in Switzerland under a memorandum of understanding signed a week ago. Iranian negotiators briefly walked out before returning to the table. Brent crude pushed above $81 a barrel.
New company-level data compiled at the Bank of England suggests Brexit has cost the UK economy roughly 6% in lost annual output. According to the BBC, the finding links higher trade frictions with the EU and weaker investment directly to lower productivity.
Memory-chip maker Micron's quarterly earnings tomorrow will gauge a memory market reshaped by AI data-centre demand. MarketWatch reports profit growth approaching 1,000%, while HBM (high-bandwidth memory) price tightness has already pushed Goldman Sachs to trim its global smartphone forecasts.
Spirit Airlines's bankruptcy filing landed in the same week United and Delta posted record profits. CNBC writes that in the US airline industry low fares are no longer enough on their own, and the issue is product mix rather than jet-fuel shocks.
Federal Reserve Chair Kevin Warsh has launched task forces to rethink the bank's structure, communications and policy framework. CNBC describes the early steps as a quiet but sweeping internal reform of the US central bank.