Economy

Bessent says there may be deal Tuesday or Wednesday to open Strait of Hormuz with 'freedom of movement'

"We are in talks with the Iranians," the Treasury secretary told CNBC's "Squawk Box."

Get Used to High Gas Prices

Even if the Iran war ends tomorrow, don’t expect relief at the pump any time soon.

Takaichi’s fiscal push could lift growth

Japan is giving up revenue now in the hope that stronger consumption and a 370 trillion yen public-private investment will deliver faster growth later.

Treasury yields slide as oil falls on Bessent comments

The move comes as oil prices slid more than 2% on the day after Bessent told CNBC an agreement to open the Strait of Hormuz could come Tuesday or Wednesday.

Fed is laser-focused on inflation drop, Warsh says

Despite the president's desire for the Fed to lower rates, Warsh reiterated that his No. 1 goal is to see inflation return to healthy levels.

Virginia Tops Charts for Job Losses While Ranking in the Top for Businesses

Virginia climbed to the top of CNBC’s annual ranking of America’s “Top States for Business” last week, but the accolade comes as the commonwealth continues to post some of the weakest job growth in the nation.

Trump to impose new tariffs on Canada

The United States is slapping 50% tariffs on Canadian products from wine and hockey sticks to cement, in response to Canada’s retaliatory duties on American cars, alcohol, and cheese as part of the two countries’ trade war.

Gas prices top $4 per gallon on average after brief dip

The average price of a gallon of gas in the United States climbed to over $4 per gallon on Monday morning, reaching its highest price in over a month since the U.S. and Iran resumed consecutive airstrikes.

Asia is producing more IPOs than the U.S., but not the same kind of winners

Asia-Pacific is leading the global IPO market, but its boom is not one story. Hong Kong, Mainland China and India are each powered by a different IPO engine — offshore liquidity, policy-guided capital and domestic retail demand. This CNBC Explains looks at why raising billions is only the first test, and why the harder question is whether that demand lasts after the opening bell.

BP profit more than doubles as Trump blasts Big Oil for ‘making too much money’

The result come after U.S. President Donald Trump lashed out at Big Oil for making "too much money" off higher fuel prices amid the Iran war.

Saudi Aramco profits jump 33% in second quarter as Iran war squeezes oil supply

The results come as oil supermajors have reported blowout quarterly profits, benefitting from higher fossil fuel prices amid the Iran war.

Deutsche Bank says gold’s 'explosive' run isn't over and gives a bullish end-of-year forecast

Deutsche Bank says gold’s explosive price behavior is ongoing, even after spot prices fell from a January record and doubled since August 2024.