Strait Shutdown Oil Shock, Big Tech’s Big Job Cuts, Italy’s Stock Buying Fear
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Strait Shutdown Oil Shock, Big Tech’s Big Job Cuts, Italy’s Stock Buying Fear
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On today's podcast:
(1) Oil rose for a fifth day as concerns grew that the US and Iran were making little progress toward resuming talks on de-escalation, keeping the Strait of Hormuz effectively closed.
(2) President Donald Trump said Israel and Lebanon will extend their ceasefire by three weeks, a move that creates space to work on a long-term deal and removes a roadblock to ending the US war with Iran.
(3) The European Union warned member states that efforts to strengthen safeguards in the bloc’s trade agreement with the US may cause the deal to unravel.
(4) European Union leaders signaled that preliminary conditions are in place for Ukraine to begin the first stage of the membership process, a boost for Ukrainian President Volodymyr Zelenskiy’s efforts to join the bloc.
(5) Meta Platforms Inc. and Microsoft Corp. are planning cuts or announcing buyouts that could affect as many as 23,000 jobs, part of an effort to streamline operations and offset heavy spending on artificial intelligence.
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