Economy coverage

SpaceX, Elon Musk's company, has announced plans for the world's largest IPO, potentially raising $80 billion and valuing the company at $1.75 trillion, with the share sale expected as early as June. Experts say the success hinges largely on Musk's personal influence, as most of SpaceX's divisions remain unprofitable.

Euro zone economic activity contracted at the fastest pace in over two years in May, according to the latest PMI data.

AMD announces a $10 billion investment in Taiwan's AI sector to advance high-end semiconductor production.

Global oil stockpiles are being depleted at a record pace due to the ongoing Middle East war, according to Goldman Sachs.

Iran proposes charging tech giants for using undersea cables in Strait of Hormuz to pressure West.

Russia's oil and gas revenue seen up 39% year-on-year in May thanks to Iran war.

Federal Reserve minutes show majority of officials believe rate hikes may be necessary if inflation remains elevated.

Turkey liquidated nearly all of its US Treasury holdings in March, according to financial data.

Ralph Lauren shares rise after strong earnings report despite tariff uncertainty

Some shipping companies are paying up to $150,000 for safe passage through the Strait of Hormuz, according to Devjyot Ghoshal on the Reuters World News podcast.

Greece's largest power company, Public Power Corp, hits record high after raising €4.5 billion to fund international expansion

Stocks in quantum computing companies surge as the Trump administration is reportedly purchasing shares.