Business

Hormuz traffic slows to two-month low as renewed US, Iran strikes raise safety risk

Monday, July 13 by SRN News

By Jonathan Saul and Florence Tan LONDON/SINGAPORE, July 13 (Reuters) - The number of tankers transiting the Strait of Hormuz fell in the past day to the lowest level in two months, shipping data showed on Monday, as renewed strikes between the U.S. and Iran... Read More.

Ferguson to buy FloWorks from Wynnchurch Capital for $1.6 billion

Monday, July 13 by SRN News

July 13 (Reuters) - Plumbing supplies distributor Ferguson Enterprises said on Monday it has agreed to acquire FloWorks from private equity firm Wynnchurch Capital for about $1.6 billion in cash, strengthening its portfolio of industrial flow-control products and services. Demand for industrial maintenance, repair and... Read More.

Exclusive-Watches of Switzerland held talks over potential takeover offers, sources say

Monday, July 13 by SRN News

By Amy-Jo Crowley and Anousha Sakoui LONDON, July 13 (Reuters) - London-listed Watches of Switzerland Group has held talks in recent months over potential offers to take the luxury watch retailer private, said three people close to the matter. Shares in the FTSE 250 company,... Read More.

Trump says the US should control the Strait of Hormuz and get paid for it

Monday, July 13 by SRN News

WASHINGTON, July 13 (Reuters) - President Donald Trump said on Monday that the United States would probably take over the Strait of Hormuz and should be reimbursed for controlling the vital waterway. "We're going to keep the strait, and we'll probably run it. We'll become... Read More.

Global smartphone shipments in second quarter hit lowest in 13 years on memory chip crunch

Monday, July 13 by SRN News

July 13 (Reuters) - Global smartphone shipments fell 11% in the second quarter to their lowest level for the period since 2013, as a prolonged memory chip shortage drove up handset prices and dampened demand, according to early estimates from Counterpoint Research. Apple bucked... Read More.

Meta expands Louisiana data center to 5 gigawatts compute capacity

Monday, July 13 by SRN News

July 13 (Reuters) - Meta said on Monday its data center in Richland Parish, Louisiana will expand to 5 gigawatts of compute capacity, in a bid to support the social media company's AI ambitions. Since breaking ground in December 2024, local Louisiana businesses have... Read More.

S&P 500, Nasdaq futures decline as US-Iran escalation rattles sentiment

Monday, July 13 by SRN News

July 13 (Reuters) - Futures tied to the S&P 500 and the Nasdaq fell on Monday, as a fresh escalation between Iran and the U.S. in the Gulf rattled investors' sentiment, drove oil prices higher and knocked chip stocks. Markets started the week on shaky... Read More.

Strategy bitcoin sales shine light on faltering crypto hoarding companies

Monday, July 13 by SRN News

By Hannah Lang NEW YORK, July 13 (Reuters) - A move by Michael Saylor's bitcoin stockpiling company Strategy to authorize more bitcoin sales has once again shone a spotlight on a clutch of public crypto hoarding companies, which have been buffeted by falling token prices.... Read More.

Chip stocks hit rocky patch. What’s next?

Monday, July 13 by SRN News

July 13 (Reuters) - The rough start for U.S. chip stocks in July likely points to further volatility as investors wrestle with high valuations and questions about the longevity of the AI capex boom. The Philadelphia Semiconductor index has shed more than 11% since hitting... Read More.

Massive AI buildout poses latest inflation threat as consumers pay more for laptops and electricity

Monday, July 13 by SRN News

WASHINGTON (AP) - American consumers - and the Federal Reserve - are being hit with another high-cost headache. The gusher of investment in data centers - likely topping $700 billion this year - to power artificial intelligence has made memory chips, computer processors, and... Read More.

Current Weather

Hormuz traffic slows to two-month low as renewed US, Iran strikes raise safety risk

Ferguson to buy FloWorks from Wynnchurch Capital for $1.6 billion

Exclusive-Watches of Switzerland held talks over potential takeover offers, sources say

Trump says the US should control the Strait of Hormuz and get paid for it

Global smartphone shipments in second quarter hit lowest in 13 years on memory chip crunch

Meta expands Louisiana data center to 5 gigawatts compute capacity

S&P 500, Nasdaq futures decline as US-Iran escalation rattles sentiment

Strategy bitcoin sales shine light on faltering crypto hoarding companies

Chip stocks hit rocky patch. What’s next?

Massive AI buildout poses latest inflation threat as consumers pay more for laptops and electricity

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