News

Rich Gulf states desperately try to stop Iran-Israel war

Published

2 years ago

April 15, 2024

Reuters

Gulf states are pushing to stop a full-blown regional war after Iran’s unprecedented retaliatory strikes on Israel.

Saudi Arabia and the United Arab Emirates in particular may be well placed to triangulate between Iran, Israel and the United States after diplomatic advances in recent years that benefited all those countries.

Allies of Washington, Gulf monarchies have sought to stabilise ties with Iran and Israel to resolve longstanding security concerns and allow them to focus on national projects.

The UAE and Bahrain signed a normalisation deal with Israel in 2020 and Saudi Arabia was considering a similar agreement also involving a U.S. defence pact until the Gaza war torpedoed diplomacy. Riyadh also buried the hatchet with Iran last year after years of feuding.

Bad diplomacy

However, the policy of detente now faces its greatest ever threat as the risk to wider regional peace raised by Israel’s conflict with Iran-backed Hamas in Gaza since Oct. 7 comes to a head.

A direct war between Israel and Iran could swiftly expand to Gulf states whose air space lies between the pair, and which host several military bases of the United States, which has vowed to defend its ally Israel.

Further escalation

At the same time, the United States was using Gulf countries to convey messages to Iran not to escalate any further, the source with knowledge of official thinking added.

“It is clear that America is using Gulf Arab allies to convey messages between Iran and the Americans. Saudi Arabia is maintaining contacts with Iran and there is an understanding to contain things,” the source said.

Reuters has requested comment from both Saudi Arabia and the UAE on how they are handling the crisis.

Still, both the sources as well as analysts in the Gulf believed the most dangerous moment may have passed.

“The Iranians took their shot,” said Abdulaziz al-Sager, head of the Gulf Research Centre close to government circles, indicating that for Tehran, the escalatory phase was over, and adding that Washington did not want an escalation from Israel.

News

This may be the AI market correction, according to traders

US stocks tumble as tech giants report uneven earnings, prompting fears of a looming market correction.

Published

1 hour ago

November 5, 2025

Ahron Young

US stocks tumble as tech giants report uneven earnings, prompting fears of a looming market correction.

US stocks have taken a sharp dive as investors grow nervous about stretched valuations and uneven earnings reports from tech giants. Major Wall Street banks, including Morgan Stanley and Goldman Sachs, are warning that the rally could be nearing a 10% correction – a wake-up call for traders betting on unstoppable market momentum.

Nvidia, the world’s most valuable public company, dropped nearly 4%, wiping out around $200 billion in market value. Meanwhile, Palantir slid 6%, dragging other AI and semiconductor names lower. Even gold — a traditional safe haven — dipped 1.6%, signaling widespread investor anxiety.

Bitcoin also broke below the $100,000 mark for the first time since June, underscoring how jittery markets have become. As earnings season unfolds and the US government shutdown looms, investors are questioning whether the bull run that lifted the S&P 35% since April has finally run out of steam.

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News

Dick Cheney dies at 84: The end of an era in American power

Former Vice President Dick Cheney dies at 84, leaving a controversial legacy in American politics and national security.

Published

1 hour ago

November 5, 2025

Ahron Young

Former Vice President Dick Cheney dies at 84, leaving a controversial legacy in American politics and national security.

Former U.S. Vice President Dick Cheney has died at the age of 84, marking the end of one of the most influential — and controversial — political careers in modern American history. Cheney served under four Republican presidents, most notably George W. Bush, where he became known as one of the most powerful vice presidents in U.S. history.

His family confirmed he passed away from complications related to pneumonia and heart disease. Cheney’s decades in Washington were defined by his hardline approach to national security and his role in shaping America’s response to the September 11 attacks.

Even after leaving office, Cheney remained a strong defender of his policies, particularly the 2003 invasion of Iraq. His passing leaves behind a complicated legacy — one that reshaped U.S. foreign policy and continues to influence Republican politics today.

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News

Nasdaq sell-off deepens amid AI stock concerns

Nasdaq sell-off worsens as AI stock valuations spark investor concerns and Palantir shares plummet despite strong earnings

Published

4 hours ago

November 5, 2025

Ahron Young

Nasdaq sell-off worsens as AI stock valuations spark investor concerns and Palantir shares plummet despite strong earnings

In Short:
– Stocks fell due to concerns over AI valuations; S&P 500 down 1.2%, Nasdaq down 1.9%.
– Palantir shares dropped 9% despite strong performance, raising questions about sustainability of high valuations.

Stocks fell on Tuesday as investor concerns regarding artificial intelligence valuations impacted major indices.

The S&P 500 declined by 1.2%, and the Nasdaq Composite dropped by 1.9%, while the Dow Jones Industrial Average lost 304 points, equating to a 0.6% decrease.Palantir shares dropped 9%, despite the company’s strong third-quarter performance and positive forecasts attributed to its AI sector growth. The stock has surged over 150% this year, yet trades at over 200 times its forward earnings, leading investors to question whether such valuations can be sustained.

Other tech stocks also faced declines, including Oracle and AMD, which saw drops of 4% and more than 3%, respectively.

Gains in AI stocks have inflated the S&P 500’s price-earnings ratio above 23, raising concerns about stock valuations. Ameriprise market strategist Anthony Saglimbene highlighted potential risks, stating that investors are questioning if future profit growth will support high capital expenditures.

Market Outlook

Comments from executives at Goldman Sachs and Morgan Stanley further added to market worries.

Both firms predicted potential market pullbacks, with drawdowns of 10% to 20% possible within the next two years. Saglimbene noted a narrow market breadth in recent months, suggesting limited alternatives if a downturn occurs in the tech sector.