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Oil slump as Trump's higher-than-expected tariffs expected to crimp demand

SINGAPORE (Reuters) -Oil prices fell by as much as 3% on Thursday after U.S. President Donald Trump announced sweeping new tariffs that investors worry will spark a global trade war that will curtail economic growth and limit fuel demand. Brent futures were down $1.60, or 2.13%, to $73.35 a barrel by 0331 GMT after dropping by as much as 3.2% earlier, its biggest daily percentage decline since March 5. Trump on Wednesday unveiled a 10% minimum tariff on most goods imported to the United States, the world's biggest oil consumer, with much higher duties on products from dozens of countries, kicking into high gear a global trade war that threatens to drive up inflation and stall U.S. and worldwide economic growth.

Reuters 3 hours ago

I sent hundreds of cold emails to find a US VC firm that would hire me as an immigrant. I'm glad I ended up at a small company.

Tejas Vijh, who works at a small VC firm, said that layoffs and visa anxiety makes him grateful he didn't choose to work at a Big Tech company.

Oil imports exempted from Trump’s sweeping tariffs

Imports of oil, gas and refined products were exempted from U.S. President Donald Trump’s sweeping new tariffs, the White House said on Wednesday. The exemption will come as a relief to the U.S. oil industry, which had expressed concerns that new levies could disrupt flows and raise costs on everything from Canadian crude oil serving Midwest refineries to European cargoes of gasoline and diesel to the eastern seaboard. Trump on Wednesday announced he would impose a 10% baseline tariff on all imports to the United States and higher duties on dozens of the country's biggest trading partners, deepening a trade war that he kicked off on his return to the White House.

‘Vibecoding’ Leader Replit in Talks for $3 Billion Valuation

(Bloomberg) -- Artificial intelligence coding startup Replit Inc. is in talks with investors for a new funding round that would almost triple its valuation to $3 billion, according to people familiar with the matter, underscoring Silicon Valley investors’ appetite for companies using AI for software development. Most Read from BloombergMetro-North Is Faster Than Acela on NYC-New Haven Route After Signal UpdatesLondon Clears Final Hurdle for More High-Speed Trains to EuropeWhat Frank Lloyd Wright

Boeing working with DOJ on revised plea deal in 737 MAX fraud case, CEO says

Boeing is in discussions with the U.S. Department of Justice to reach a revised plea agreement in a criminal fraud case stemming from the planemaker's alleged misrepresentations to regulators about a key system on the 737 MAX, company CEO Kelly Ortberg said on Wednesday. Ortberg said at a Senate hearing Boeing is in discussions with the Justice Department to come up with an alternate agreement after the initial deal was not accepted by a judge.

CoreWeave stock rips higher after muted IPO

CoreWeave's stock finds its footing after a muted IPO.

Nintendo to launch Switch 2 on June 5 for $449, hoping to recapture success of the original

Nintendo announces it will launch its highly anticipated Switch 2 June 5.

Intel's new CEO Lip-Bu Tan makes his case for a revived Intel

Intel's new CEO Lip-Bu Tan is looking to reinvigorate the company's growth. It won't be easy.

What 'Magnificent 7' stocks need to show to revive the trade

Is it time to buy the Magnificent Seven after a rough quarter?

Why Microsoft stock is getting a top-pick stamp from this analyst

The sell-off in Microsoft looks overdone, one Wall Street analyst contends.

AMD CEO Lisa Su: Trump tariffs could have 'short term' impact on chips

AMD CEO Lisa Su sends a mild warning on the impact of tariffs on semiconductors.

AMD CEO Lisa Su to Yahoo Finance: Demand for AI infrastructure is 'immense'

AMD CEO Lisa Su pushes back on the AI slowdown narrative.

TikTok's days are numbered as ban nears

TikTok will go offline on April 5 unless it's sold.

Nvidia stock drops, tech leads markets lower after Trump backs broader reciprocal tariffs

Nvidia stock fell more than 4% premarket Monday after US President Trump said he won’t be granting any countries softer treatment when it comes to reciprocal tariffs.

How Trump tariffs would push Big Tech's AI data center costs higher

Big Tech is set to spend hundreds of billions of dollars in capital expenditures and investments this year, much of which will be directed toward building giant data centers around the US to power artificial intelligence. But Trump's tariffs would push those costs higher, analysts told Yahoo Finance.

GE Vernova to supply turbines by 2026 for planned natgas power plant in Pennsylvania

The project is expected to begin producing power by 2027. Once complete, it would be the largest natural gas power plant in the U.S., surpassing NextEra Energy's main utility, Florida Power & Light's West County Energy Center, which has a capacity of nearly 3.8 GW, according to data from the U.S. Energy Information Administration.

What to know about TikTok’s uncertain future in the US and the people who want to buy it

TikTok, owned by the Chinese company ByteDance, has been at the center of controversy in the U.S. for four years now due to concerns about user data potentially being accessed by the Chinese government. Earlier this year, the app experienced a temporary outage in the U.S. that left millions of users in suspense before it was quickly restored. TikTok returned to the App Store and Google Play Store in February. Nonetheless, TikTok's future remains uncertain, and a potential second ban on April 5 i

Canada's Trans Mountain pipeline lowers forecasts for amount of oil it ships

Canada's Trans Mountain oil pipeline has downgraded forecasts for the amount of oil expected to flow through its system over the next three years, documents filed by the operator show, as use of the newly expanded pipeline increases more slowly than expected. The lower forecasts, filed by Trans Mountain with the Canada Energy Regulator last month, have not been previously reported. They said 20% of the pipeline's capacity that is reserved for spot shipments is being underutilized because shipping costs are higher than the Enbridge Mainline system, the largest crude pipeline system in North America, which moves oil from western Canada to markets in Eastern Canada and the U.S. Midwest.

Tesla's vehicle deliveries data is out — and it's much worse than expected

Tesla reported almost 336,700 Q1 vehicle deliveries, missing analyst expectations. That's 13% lower YoY and the worst quarterly data since 2022.

FERC suspends Colonial Pipeline's proposed gasoline shipment changes

NEW YORK (Reuters) -The Federal Energy Regulatory Commission (FERC) on Wednesday suspended Colonial Pipeline's proposal to overhaul its gasoline shipments for seven months to hear additional arguments from the company and shippers that have protested the changes. Colonial Pipeline last month filed a revised tariff record for FERC approval, seeking to end overlapping shipments of different gasoline grades, while also ending shipments of so-called "Grade 5" gasoline sold in some Northeastern states during the winter. FERC said its review of the filing failed to show the changes were just and reasonable, and that they may be unduly discriminatory to shippers or otherwise unlawful.

Exclusive-Safran to win EU approval for $1.8 billion Collins deal, sources say

BRUSSELS (Reuters) -French engine and aircraft equipment maker Safran is set to secure conditional EU antitrust approval for its $1.8 billion bid for Collins Aerospace's flight controls business, people with direct knowledge of the matter said on Wednesday. The deal, which Safran announced in July 2023 and its largest since its 2018 acquisition of seat maker Zodiac seven years ago, will help it better prepare for the next generation of increasingly computerised aircraft, it has said. The European Commission's decision is conditional on Safran selling its electromechanical actuation business in North America to address competition concerns, the people said.