Oil prices rose sharply as Brent crude touched $98.20 per barrel on Wednesday, fueled by rising tensions between the United States and Iran. Recent missile activity in the Gulf region and disrupted shipping routes have intensified concerns about energy supply. Although strategic oil reserves remain untapped for now, the market is reacting to potential risks in the Strait of Hormuz. August contracts have jumped over 2% since early June and more than 5% in just the past week.

The San Francisco budget plan proposed by Mayor Daniel Lurie seeks to protect core city services while addressing a $642 million deficit over the next two fiscal years. Lurie announced the proposal in San Francisco on Monday, June 1, 2026, presenting it as a spending plan built around fiscal discipline, service protection and preparation for possible federal funding cuts. San Francisco Budget Plan Focuses on Services and Deficit Control The pro

Credit Card Swipe Fees Raise Costs for U.S. Shoppers and Stores Credit card swipe fees are adding pressure on U.S. shoppers and small businesses as more purchases move away from cash. Retailers say the fees charged on card transactions are becoming a larger cost of doing business, with some of that burden reflected in everyday prices. At a Tiger Fuel gas station and convenience store near the Blue Ridge Mountains in Ruckersville, Virginia, managers say t

The Delhi High Court has rejected Pernod Ricard’s appeal to resume sales of its popular brands, Absolut Vodka and Chivas Regal, keeping the ban in place for the third consecutive year. The ruling comes amid ongoing corporate investigations and a $314 million tax dispute, intensifying pressure on the French liquor giant. Delhi is a critical market for Pernod Ricard, representing nearly 5% of its nationwide sales. B

Recent developments in Iran have sent shockwaves through global financial markets. Investors are recalibrating portfolios as oil prices climb, geopolitical uncertainty rises, and economic pressures mount. While energy producers, defense companies, and AI-driven technology firms see gains, sectors like airlines and energy-importing economies face increasing strain. The US dollar and other safe-haven assets are also attracting attention amid market volatility.

US Pushes Tariffs Into Mexico Trade Talks The United States expects tariffs to be part of trade negotiations with Mexico this week as Washington prepares for talks tied to the future of the U.S.-Mexico-Canada Agreement. U.S. Trade Representative Jamieson Greer said President Donald Trump remains concerned about the trade deficit with Mexico and indicated that tariffs are likely to remain a tool in the administration’s broader trade strategy, even with close regional partners. Rules Of Origin Face Fresh Scrutiny Greer said officials are expected to discuss changes to USMCA rules of origin, including requirements that could increase the share of American-made content in goods produced across North America. The issue is especially important for manufacturing and supply chains, as the United States seeks to reduce dependence on Asia and bring more production closer to home. Greer said Mexico has benefited from American efforts to diversify away from China, but Washington wants a more balanced distribution of production. Mexico Talks Seen As Productive The United States views Mexico as a major part of its regional supply chain strategy because it competes with Asian economies for access to the US market. Greer said the administration wants supply chains sourced from the Western Hemisphere wherever possible, pointing to pandemic-era disruptions that limited access to goods from Asia. The goal, he said, is to strengthen North American manufacturing while reducing the deficit with Mexico. Canada Negotiations Look More Difficult Trade talks with Canada appear more complicated. Greer said the United States has significant trade challenges with Canada and noted that Ottawa’s response to tariffs has differed from that of many other partners. Canada has argued that USMCA remains a strong agreement and does not require major renegotiation. The disagreement sets up a difficult review process as Washington seeks tariff-related changes while Canada pushes to preserve the existing framework.

The UK GCC trade deal could add an estimated £3.7 billion a year to Britain’s economy in the long run, while cutting tariffs for exporters selling into Gulf markets. The U.K. Department for Business and Trade announced the agreement on Wednesday, May 20, 2026, calling it a major step in economic ties with the Gulf Cooperation Council, which includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. The gove

India’s 1991 gold pledge remains one of the clearest examples of how a financial crisis reshaped the country’s economic direction. The episode matters again in 2026 as India holds larger foreign exchange and gold reserves, signaling preparation rather than panic. India’s 1991 gold pledge and the Gulf shock India’s balance-of-payments crisis deepened after Iraq invaded Kuwait on Thursday, August 2, 1990, triggering a Gulf crisis that added pressur

Royal Enfield is preparing for its next major growth phase with a proposed Rs 2,500 crore investment in a new greenfield manufacturing facility in Andhra Pradesh. The Chennai-based motorcycle maker has announced plans to acquire land in Tada, near Tirupati, as it looks to expand production capacity and strengthen its manufacturing base in southern India. The investment is subject to approval from the board of Eicher Motors, Royal Enfield’s parent company, and the project is expected to be deve

California gas prices remain above $6 a gallon, and state energy officials are warning that pump prices could rise further if fuel supply pressure worsens in the coming weeks. As of Saturday, May 16, 2026, AAA listed California’s average regular gas price at $6.140 per gallon, far above the national average of $4.517. In the Bay Area, AAA showed regular gas averaging $6.315 in San Francisco, $6.205 in Oakland and $6.130 in San Jose. California Gas Prices Stay Ab

On May 15, 2026, President Donald Trump was accused of corruption after disclosures revealed major stock trades in his name. Reports focused on purchases of Nvidia shares, a leading company in AI chip technology, and raised concerns over national security. Critics argued that Trump allowed Nvidia to sell products to China, boosting stock value while personally buying millions in shares, creat

The Indian rupee has reached a historic low of 96 against the US dollar, affecting household budgets, imported goods, and fuel prices. With each dollar costing more in rupees, daily expenses are rising for families across India. Why the Rupee Is Weak Today Several factors are driving the rupee’s decline: Rising Oil Prices Global tensions near key oil routes have pushed crude prices above $

WASHINGTON — Do senators get paid during government shutdowns? A new Senate rule would delay their salaries during future federal funding lapses, but the money would still be released after the shutdown ends. The U.S. Senate voted unanimously on Thursday, May 14, 2026, to withhold senators’ pay whenever a government shutdown affects one or more federal agencies. Senate Shutdown Pay Rule Explained The measure, sponsored by Sen. John Kennedy,

Bay Area gas prices eased slightly during the week ending Thursday, May 14, 2026, but drivers across Northern California were still paying some of the highest fuel costs in the United States. AAA data showed California’s average regular gasoline price at $6.147 per gallon on Thursday, compared with the national average of $4.534. California remained the most expensive state for regular gasoline in AAA’s state price data.

An OCI card, or Overseas Citizen of India card, gives eligible foreign citizens of Indian origin long-term access to India. For Indian-origin Americans, the OCI card is especially useful after U.S. citizenship. It helps eligible former Indian citizens and people of Indian origin visit India frequently, stay for longer periods and maintain family, cultural, property and business ties with India. However, OCI is not Indian citizenship. OCI cardholders cannot vote in India, ho

Kevin Warsh was confirmed as Federal Reserve chair on Wednesday, May 13, 2026, placing President Donald Trump’s nominee at the center of a high-stakes debate over inflation, interest rates and the independence of the U.S. central bank. The Senate approved Warsh in a 54–45 largely party-line vote, clearing the way for the former Federal Reserve official to succeed Jerome Powell. The confirmation followed uncertainty tied to a Justice Department investigation involving Powell, whi

President Donald Trump is backing a temporary federal gas tax suspension as US drivers face sharply higher fuel prices linked to the Iran conflict. The proposal could cut up to 18.4 cents per gallon from gasoline and 24.4 cents per gallon from diesel, but it cannot take effect without approval from Congress. How Much Could Drivers Save? Trump said on Monday, May 11, 2026, that he wants to remove the federal gas tax “for a period of time” and restore it once prices ease. The White House has not confirmed whether formal legislation has already been sent to lawmakers. The relief would be limited compared with the wider rise in pump prices. US gasoline prices have climbed sharply since the Iran conflict intensified, leaving many households paying more for commuting, deliveries and daily transportation. Congress Holds The Key The federal gas tax helps fund highways, bridges and public transit through the Highway Trust Fund. Any suspension could give drivers short-term relief but may raise concerns over road funding. Energy Secretary Chris Wright said the administration supports steps to lower fuel costs. Some lawmakers have also backed a temporary gas tax holiday, while critics argue the savings may not fully reach consumers. For American families already dealing with inflation, even a small reduction at the pump could matter. But the plan’s real impact depends on Congress, fuel markets and whether gas stations pass the full tax cut to drivers.

JPMorgan Chase is facing renewed scrutiny after former banker Chirayu Rana rejected a reported $1 million settlement offer tied to allegations of sexual assault, racial harassment, and workplace misconduct in New York City. The refiled lawsuit, submitted this week, includes new witness statements

EU-India FTA May Begin Within A Year The EU-India FTA could come into force within a year, potentially by early 2027, after both sides concluded negotiations on January 27, 2026. European Union Ambassador to India Hervé Delphin said the landmark free trade agreement is now moving through legal and procedural steps before ratification. The process includes legal vetting of the final text, followed by approvals in India and the European Union.

MS Dhoni Leads Taxpayer List In Jharkhand-Bihar MS Dhoni has emerged as the highest individual taxpayer from the Jharkhand-Bihar region as income tax collection touched around ₹20,000 crore in FY26, officials said. The Income Tax Department’s collection from Jharkhand and Bihar during the 2025–26 financial year marks a strong revenue signal from eastern India, a region often overshadowed by larger metro-driven tax zones. ₹20,00