Business
Houthi Attacks Cause BP to Stop Shipments Through Red Sea
Oil and gas giant BP Plc said it will pause all shipments through the Red Sea following an escalation in attacks on merchant vessels by Houthi militants. Bloomberg’s Annmarie Hordern reports.
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The US and Canada appear to be headed for a prolonged trade standoff, with no current negotiations and Canadian officials expecting serious talks may not resume until after the US midterm elections. Bloomberg News White House Correspondent Jeff Mason and Bloomberg News Executive Editor for Canada Derek Decloet are on Bloomberg This Weekend with Christina Ruffini and Bailey Lipschultz to discuss the economic pain on both sides of the border, Canada’s push to diversify its trade and whether Prime Minister Mark Carney’s resistance to President Donald Trump could influence how other US allies respond.
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Canadian officials said Tuesday they would match new tariffs imposed by President Donald Trump “dollar-for-dollar, rate-for-rate.” Canada will double its existing counter-tariffs on US steel and aluminum to 50% and levy new 15% to 50% tariffs on about $20 million worth of American products.
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The Iran war has transformed how cooking gas reaches millions across Asia and Africa. India has kept LPG flowing by redrawing supply routes and boosting domestic output, but the disruption has come at a cost. Akriti Sharma explains.
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Iran and Oman move toward a new arrangement for shipping through the Strait of Hormuz, with the IRGC saying the two countries have agreed to share fees. Tehran says US actions are delaying the process, while US allies question whether the Strait is fully clear of mines. Trump says the mines have been removed and Hormuz is open.
Oil remains under pressure as markets assess the outlook for Hormuz and global supply.
Nvidia reports $89 billion in data-center revenue, ahead of expectations, while its CFO sees revenue growth of around 70% into fiscal 2028. Supply remains a key constraint, and margins are expected to settle around 72% to 73% as higher memory costs weigh on profitability. Jensen Huang says the AI infrastructure buildout remains at full speed.
Asian chip stocks gain following Nvidia’s outlook, with SK Hynix and Samsung leading the advance. South Korea raises its policy rate to 3% from 2.75% as inflation risks build, while markets prepare for central bankers to discuss inflation at Jackson Hole and watch Warsh’s first speech there. The BOJ also keeps the possibility of a September rate hike open, while Australian bonds fall as RBA hike expectations increase.
Meta agrees to pay up to $18 billion to settle social-media claims. Salesforce rises on its growth outlook and partnership with Anthropic, while Anthropic plans to spend $45 billion on AI computing capacity from Nscale. China’s Z.AI develops its OX Alpha model, and MiniMax reports a sharp increase in first-half sales.
Saudi Arabia pushes deeper capital-market reforms, focusing on derivatives, liquidity and improving market infrastructure as part of Vision 2030. Tadawul gains following the latest measures.
CNOOC reports higher first-half profit as oil prices benefit from the Iran conflict, while Shein prepares a $1.7 billion Hong Kong share sale.
Russia signals a possible escalation in Ukraine as Moscow sees peace talks at a dead end. Flooding along the Nepal-China border leaves around 100 people dead.
In Africa, Next Africa sits down with the Dangote family to discuss plans for an IPO of the refinery arm, the expansion of the family office in 2027 and its strategy for building businesses and investments across generations. Guests include Rajeev Sibal, Morgan Stanley Senior Global Economist, Maribel Lopez, Lopez Research Founder & Enterprise AI Lead and Eric Swats, Rascal Investment Bank Senior Executive Officer.
Horizons Middle East & Africa is your daily spotlight on one of the world’s fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg.
Chapters:
00:00:00 – Introduction
00:04:56 – Nvidia Sees Strong Revenue Growth
00:09:57 – Iran, Oman Agree to Share Hormuz Fees
00:17:26 – Rajeev Sibal, Morgan Stanley Senior Global Economist
00:28:27 – Maribel Lopez, Lopez Research Founder & Enterprise AI Lead
00:34:36 – Eric Swats, Rascal Investment Bank Senior Executive Officer
00:41:46 – Next Africa Sits Down With Dangote Family
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Business
Takeaways from the Google I/O conference#shorts #google #googleai #googleio #artificialintelligence
AI Mode in Google Search is now available to all US users. It’s just one of the AI announcements from the company’s annual Google I/O conference this week. Jackie Davalos shares the key takeaways from the event http://bloom.bg/4doXUUB
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@kellyschueman5649
December 25, 2023 at 2:07 pm
Stop the Palestinians Holocaust. My God! How evil can the US and Israel be.
@JoBlack-dg6ey
December 25, 2023 at 2:07 pm
The consequences of the UK whimping out at the UN. Get a backbone & make a stand against genocide
@yudhihartadi6636
December 25, 2023 at 2:07 pm
the israel afiliated ships in the red sea was promised to houthi since 3000 years ago, they have right to defend it
@KY-te4mn
December 25, 2023 at 2:07 pm
What the Houthi’s said is vey simple.They said if you lift the blockade on Gaza and allow food and medicine to flow into Gaza there will be no targeted ships, is that a lot to ask for? Food and medicine for the innocent children and people, I mean how cruel can you be and the lack of respect for human life is showing
@isal79
December 25, 2023 at 2:07 pm
Stop Genocide in gaza
@giganoob1968
December 25, 2023 at 2:07 pm
That's why we spend 184 billion dollars on the military, so they can sit on the sidelines. Wouldn't want to bust all that stuff, after all it's just for show.
@carterconstant5674
December 25, 2023 at 2:07 pm
This won't make China or the Asian market happy. Prices will be going up and shipments will be slower.
@ajolleyduck2933
December 25, 2023 at 2:07 pm
Is it hoo tee or hoo thee?
@GerardCarouge
December 25, 2023 at 2:07 pm
The West (except the UK) does not have the balls to stop the Yemeni terrorist army assisted by Iran. The US and the French talk a lot but do nothing. Good that the Brits do react, but this won't suffice to put an end to the muslim terrorists war on the West, now limited to that region but potentiallybsoon spreading to Europe.
@mikkybozzy-my2vk
December 25, 2023 at 2:07 pm
Hahaha all part of the plan. Now every country is going to rip off their citizens with putting fuel up. They will do anything now to get people to go electric
@chrisb4419
December 25, 2023 at 2:07 pm
This is objectively because of the Zionist occupation of Palestine.
@shakes772
December 25, 2023 at 2:07 pm
They will not get Saudi and UAE on board this time. The UAE brought more than 50 Arab and Muslim nations together and brought a vote triggered by article 99 to the security council and US proudly and in total isolation vetoed a (humanitarian ceasefire), France and UK will sail with them but forget launching from the middle east basis. The so called "war" comes at a time of peace between Saudi and Iran, Yemen & Turkey has designated the IOF as a terrorist entity.
@richardmann3396
December 25, 2023 at 2:07 pm
Any excuse to implement a rise in prices
@myelectricmagneticimpuls
December 25, 2023 at 2:07 pm
Learn walk… fatsoes
@over07ful
December 25, 2023 at 2:07 pm
Keep voting Dem geniuses
@sjenkins91812
December 25, 2023 at 2:07 pm
I dont want to hear any BS excuse from BP about how they are being inconvenienced.
@dflowers1477
December 25, 2023 at 2:07 pm
Obama said we would necessarily have to raise the costs of oil to get the public to choose sustainability. Democrats are probably supporting the anti-Isreal Houthis now as well.
@mopthermopther
December 25, 2023 at 2:07 pm
BP says we don’t need any help spilling oil 😃
@ricohernandezjr.2874
December 25, 2023 at 2:07 pm
No No No No!!
@abtreeguy
December 25, 2023 at 2:07 pm
Don’t worry, Biden took them off the terror watch list🤨
@jameswindsor7780
December 25, 2023 at 2:07 pm
China inports a lot of oil, lets see if they can step up and help stop
@dirkaminimo4836
December 25, 2023 at 2:07 pm
Biden better not go at this alone. All the countries need to join or just ignore it. Iran is really pissing me off. This is them. Iran tankers should be stopped!
@solinvictus7115
December 25, 2023 at 2:07 pm
The day the world stops being dependent on government and all these big companies that control our natural resources is the day WE empower ourselves… but that'll will nevee happen 🤷🏾♂️
@jheadley3333
December 25, 2023 at 2:07 pm
The Hon. Lloyd Austin
@mirsadzimic7519
December 25, 2023 at 2:07 pm
FREE FREE PALESTINA ❤❤❤❤
@richarddean2532
December 25, 2023 at 2:07 pm
Thank you Joe Biden!
@VggYdx-bw2np
December 25, 2023 at 2:07 pm
So people stopped this terrorists company let's call facts now
@safiul1930
December 25, 2023 at 2:07 pm
Blockade on israhell.
@daveindiego06
December 25, 2023 at 2:07 pm
great… now gas prices in california are going to double again.
@clickbaitcabaret8208
December 25, 2023 at 2:07 pm
The US isn't a fan of oil supply routes being screwed with. The Iranians found that out the hard way in 1988. The White House is trying to avoid a widening conflict in the region, so we'll see if the US Navy gets "proportional" on the Houthis.
@daviecrocket9160
December 25, 2023 at 2:07 pm
Wahoo more price hikes
@EddieFlores-si9hd
December 25, 2023 at 2:07 pm
BP the company of the pirates who is stealing oil 🛢 from Iraq 🇮🇶
@Davidjohnson-zd3bk
December 25, 2023 at 2:07 pm
Just an excuse to raise prices!!! Why don't they hire security????
@jimdoe3288
December 25, 2023 at 2:07 pm
Lots of oil under Palestine, ask the uk PM's daddy
@jimdoe3288
December 25, 2023 at 2:07 pm
We must support all companies and not the people in countries
@jamesschneider3828
December 25, 2023 at 2:07 pm
The problem is that NATO and the EU want the Americans to be the leader but mostly, these days, want our money. It's once again time that America concentrate on our own problems such as stupid immigration policies by championing open borders.
@user-nr5bw5uo4e
December 25, 2023 at 2:07 pm
Sleepy joe has his own gas and oil
@GARRY3754
December 25, 2023 at 2:07 pm
What are these war mongering oil dictators cooking up?
@ssebugwawoismael1033
December 25, 2023 at 2:07 pm
Stop supporting Israel Huouth will not attack maritime
@user-nc1tg5no7l
December 25, 2023 at 2:07 pm
houthis hamas hezbollah. They are just making up funny names now and calling them a terrorist gruoup. The reality though is much different. These are just resistance groups. If you are talking muslims any armed groups are terrorists. If it is an armed group of jews they are called brave soldiers. Our pathetic world.
@Joe-ff1oh
December 25, 2023 at 2:07 pm
So how the oil prices don’t go up ?
@user-nc1tg5no7l
December 25, 2023 at 2:07 pm
The only reason this story exists is to raise gas prices. This is going to be a war. The united states completely changes it's stance when Jews, or oil are involved. America is a disgrace.
@JayBreeze890
December 25, 2023 at 2:07 pm
Pretty sure that the Houthi’s announced that any ship not porting in Israel will be safe. Why should we care again?