U.S. Secretary of State Marco Rubio arrived in Qatar on Tuesday, shortly after he cautioned that a “short window” remains to secure a ceasefire in Gaza. His visit coincided with Israel’s announcement that it had initiated the main phase of its ground assault on Gaza City. Rubio’s visit follows days after Israeli airstrikes in Doha targeted Hamas leaders, which Qatar condemned as “cowardly and treacherous.” The attacks drew widespread international criticism and intensified concerns about a broader regional conflict. During his flight to Doha, Rubio told reporters that Qatar remains the sole credible mediator capable of ending the conflict. “If…
Author: Raja Zahid Khanzada
Sky, the British pay-TV group owned by Comcast, is set to cut around 600 jobs as it concludes a three-year period of investment in its products and platforms. A source familiar with the matter stated on Tuesday that the company will now focus on making its services faster, simpler, and more reliable. A Sky spokesperson confirmed in an email statement, “As we look ahead, we are shifting our approach to bring customers the next generation of experience by investing in digital-first service, unbeatable content, and even better performance from our products.” The company, which employs approximately 23,000 workers in Britain,…
Citigroup has set a year-end price target of $4,300 for ether, the world’s second-largest cryptocurrency. This target is based on rising investor demand and growing interest in ethereum-based use cases such as stablecoins and tokenization. The Wall Street brokerage’s target is still below ether’s record high of $4,955.14, which it reached last month. Citi noted that ether’s recent price strength may be driven more by sentiment than fundamental value. In a note released on Monday, Citi stated, “Current prices are above activity estimates, potentially driven by recent buying pressure and excitement over use-cases.” Ether has become a preferred token for…
Tencent Holdings, a leading Chinese gaming and social media company, is looking to raise the equivalent of $1 billion through a three-tranche offshore yuan bond deal, according to two sources with direct knowledge of the matter. The information has not yet been made public, and Tencent has declined to comment on the transaction. A term sheet seen by Reuters on Tuesday reveals that Tencent plans to issue five-, 10-, and 30-year offshore yuan bonds. The “dim sum bonds” have an initial price guidance of approximately 2.6% for the five-year tranche, 3% for the 10-year, and 3.6% for the 30-year. The…
U.S. Treasury Secretary Scott Bessent announced on Tuesday that he anticipates a final deal on the popular short-video app TikTok when President Donald Trump speaks with Chinese leader Xi Jinping this Friday. Bessent stated that China had a “long list of asks” during this week’s negotiations in Madrid. He described the talks as comprehensive and conducted with mutual respect. The two nations had announced a framework agreement on Monday to de-escalate their ongoing trade war, which has unsettled global markets. According to Bessent, President Trump has made it clear that he would allow TikTok, which has 170 million U.S. users,…
U.S. companies are increasingly turning to the euro for their borrowing needs, with bond sales reaching a record $100 billion so far this year. This trend is a result of favorable funding conditions in Europe and a growing willingness among issuers and investors to move away from the dollar. Major U.S. corporations such as Alphabet, Visa, PepsiCo, Fiserv, and Verizon have recently issued bonds denominated in euros. This offshore fundraising, known as “reverse Yankees,” has surged from just over $78 billion for all of 2024, according to LSEG data. This shift is seen as a positive sign for the euro,…
Google announced a new £5 billion (approximately $6.80 billion) investment in Britain on Tuesday, ahead of U.S. President Donald Trump’s state visit. The visit is expected to highlight numerous business deals and partnerships between the two countries. The U.S. tech company also revealed the opening of a new data center near London. This facility is specifically designed to handle the growing demand for its AI-powered services, including Google Cloud, Search, Maps, and Workspace. In a statement released by the company, UK Finance Minister Rachel Reeves called the investment “a powerful vote of confidence in the UK economy and the strength…
Malta’s financial watchdog has voiced its opposition to a push by other countries to grant the European Union’s securities regulator, the European Securities and Markets Authority (ESMA), more supervisory powers over crypto companies. A spokesperson for the Malta Financial Services Authority (MFSA) stated their position on Tuesday. This comes after France, Italy, and Austria called for ESMA to take over the supervision of major crypto firms on Monday. Their concern is that different EU countries are applying the new crypto rules inconsistently. While the MFSA supports ESMA’s efforts to create “supervisory convergence” among regulators, it does not endorse centralization. In…
Cybersecurity firm Netskope is now targeting a valuation of up to $7.26 billion in its U.S. initial public offering (IPO), after it raised its proposed price range. This move highlights a strong investor appetite for high-growth tech stocks. Netskope’s offering is the second significant cybersecurity IPO in New York this year, following Thoma Bravo-backed SailPoint’s listing in February. It comes at a time when a combination of stricter data privacy regulations and the rise of AI-driven threats is providing tailwinds for the secure access service edge (SASE) market. The company, based in Santa Clara, California, now plans to raise as…
Nvidia’s attempt to capture the Chinese AI market with its new RTX6000D chip is facing a setback, as major technology companies show limited interest. Sources familiar with the matter revealed that the chip, specifically designed for China, is viewed as expensive and underwhelming in terms of performance. Testing has shown that the RTX6000D performs worse than the RTX5090, a chip banned by the U.S. for use in China but still easily available through grey market channels at less than half the price. Chinese tech giants, including Alibaba, Tencent, and ByteDance, are also waiting for the resumption of shipments for Nvidia’s…
