Money
Why the ship that blocked the Suez Canal is still stuck
A court in Egypt is preventing the container ship that blocked the Suez Canal from leaving the country.
Authorities are seeking over $900 million in compensation for damages caused by the ship that became stuck in the Suez Canal in March.
Although the court is moving to resolve the matter as quickly as possible, for now, the vessel isn’t going anywhere.
The Suez Canal Authority (SCA) lodged the $1.2 billion dispute against the Japanese owner for compensation.
The Japanese ship at the centre of the drama
The Japanese company that owns the ship, Ever Given, that is at the centre of the investigation.
The 400-metre ship was on its way to the Dutch port of Rotterdam when it slammed into the bank of the Suez Canal.
The ship had over 18,300 containers on board at the time of the collision.
It became lodged in the southern end of the busy shipping passage and remains in a lake between two stretches of the canal.
Money
U.S. and China approve TikTok sale to American investors
US and China approve TikTok’s sale to Oracle and Silver Lake amid regulatory scrutiny, with ByteDance retaining 20%.
US and China approve TikTok’s sale to Oracle and Silver Lake amid regulatory scrutiny, with ByteDance retaining 20%.
The United States and China have officially approved a deal for TikTok’s US operations to be sold to American investors, led by Oracle and Silver Lake.
This marks a major shift in the social media landscape as the platform navigates increasing regulatory scrutiny.
Under the new agreement, ByteDance will retain just under 20% of TikTok US, while Oracle and Silver Lake will each take 15% stakes. Other investors will also participate, forming a structure designed to satisfy both commercial and regulatory demands.
The new US-based entity will have a majority American board tasked with overseeing data protection and content moderation. Despite these safeguards, concerns remain about ByteDance’s influence and whether the deal fully complies with recent legislation.
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Money
Markets tumble as Trump tariffs, Greenland rhetoric and Europe backlash collide
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. equities took a sharp hit as markets reacted to renewed tariff threats and heightened political rhetoric from President Donald Trump. The Dow plunged more than 800 points, with the S&P 500 and Nasdaq also sliding as investor nerves rattled risk assets.
The sell-off highlights growing concern around global trade tensions and geopolitical uncertainty, with markets struggling to price in what comes next for U.S. economic leadership and policy direction.
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Money
Gold hits record highs as investors flee risk
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold is shining brighter than ever as investors flock to safe-haven assets amid global uncertainty. U.S. gold futures for February delivery jumped 1.71% to $4,674.20 per ounce, while spot gold rose 1.6% to $4,668.14.
The surge comes as geopolitical tensions continue to worry traders, prompting a rush into metals perceived as stable and secure. Analysts say gold is proving its status as the ultimate hedge during turbulent times.
Investors are closely watching markets as gold sets new benchmarks, signalling growing caution across the financial landscape.
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