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Tech 5: OpenAI/Microsoft Talks Get Tense, SoftBank Floats Arizona Robotics Hub

5 Mins Read

This week, Microsoft (NASDAQ:MSFT) and OpenAI’s once tight alliance showed signs of strain, while Meta Platforms (NASDAQ:META) continued to source artificial intelligence (AI) talent from rival companies.

Meanwhile, SoftBank’s (TSE:9434) CEO is considering a new chip and robotics venture in Arizona, and Google (NASDAQ:GOOGL) is looking to bring AI solutions to American cities.

Read on to dive deeper into this week’s top tech stories.

1. OpenAI and Microsoft partnership faces tension

Microsoft and OpenAI’s once-close partnership is reportedly entering a tense period of renegotiation as OpenAI restructures into a public-benefit company and seeks more autonomy.

According to sources for The Information, recent negotiations have centered on reducing Microsoft’s long-term revenue share in exchange for a 33 percent stake in the newly formed entity. Additionally, OpenAI would like to limit Microsoft’s access to future models such as Windsurf, which OpenAI acquired in May.

The company has competitive concerns with Microsoft’s GitHub Copilot, according to the people.

Tensions have risen enough that some OpenAI executives are even weighing antitrust action against Microsoft, according to sources for the Wall Street Journal. In a joint statement, both companies maintained they want to continue working together; however, the Financial Times reported on Wednesday (June 18) that if they can’t reach an agreement, Microsoft is prepared to walk away and rely on its existing contract with the startup, which extends until 2030.

2. SoftBank floats trillion-dollar robotics hub in Arizona

SoftBank is reportedly interested in a trillion-dollar infrastructure project and has reached out to Taiwan Semiconductor Manufacturing Company (NYSE:TSM) as a potential collaborative partner.

Sources for Bloomberg revealed on Friday (June 20) that SoftBank founder Masayoshi Son has approached the Taiwanese chipmaker to play a “prominent role” in a manufacturing park in Arizona codenamed “Project Crystal Land,” which may serve as a major production facility for AI-powered industrial robots.

The sources said SoftBank has also approached Samsung Electronics (KRX:005930) and other companies with the idea. SoftBank officials have reportedly engaged in discussions with federal and state government officials, including US Secretary of Commerce Howard Lutnick, to explore potential tax incentives for companies onshoring high-tech manufacturing.

In other semiconductor news, Texas Instruments (NASDAQ:TXN) said on Wednesday that it will spend more than US$60 billion building seven new semiconductor facilities across the US. Meanwhile, Amazon (NASDAQ:AMZN) announced over the weekend that it will invest AU$20 billion to expand data center infrastructure in Australia by 2029.

3. Intel reportedly planning sizeable layoffs

Intel (NASDAQ:INTC) is reportedly set to implement substantial layoffs, impacting 15 to 20 percent of its factory workforce, according to an internal memo distributed on Saturday (June 14) and obtained by the Oregonian.

This move comes amidst continuing efforts to overhaul a company lagging behind its peers.

For some time, Intel’s offerings have struggled to compete effectively against those of key rivals in the highly competitive market of AI products and chip divisions. In a concerted effort to address this gap and reinvigorate its innovation pipeline, Intel has also been actively recruiting top-tier engineering talent.

On Wednesday, Intel expanded its sales and engineering leadership team to include experienced professionals from Cadence Design Systems (NASDAQ:CDNS), Apple (NASDAQ:AAPL) and Google.

These strategic hires are intended to inject fresh perspectives and expertise into crucial engineering departments, directly contributing to the company’s ambitious plans to develop more competitive and advanced AI solutions.

4. Google partners with Conference of Mayors for city AI strategies

On Friday, Google announced that it has partnered with the US Conference of Mayors to help speed the adoption of city-wide AI strategies. With the announcement, the company released a playbook titled A Roadmap for America’s Mayor that provides a framework for city leaders to develop and host an “AI Adoption Workshop,’ which would be structured to help cities identify and explore how AI can support specific needs, drawing on experiences from other communities.

The roadmap suggests cities conduct a general survey to tailor workshop content by gathering information on current AI usage, as well as concerns and ideas for AI applications. Various approaches are suggested for drafting the strategy document, including a dedicated working group, an appointed lead drafter, a hybrid model or engaging external expertise, with a recommended deadline of four to six weeks post-workshop for the first draft.

5. Meta hires top AI talent

Sources for the Information indicated on Wednesday that Meta CEO Mark Zuckerberg is bringing Daniel Gross, CEO of Ilya Sutskever’s startup Safe Superintelligence, and former GitHub CEO Nat Friedman onboard.

According to the report, Gross and Friedman will both join Meta, with Gross leaving his startup to focus on AI products at Meta and Friedman taking on a broader role. Both are expected to work directly with Zuckerberg and Scale AI CEO Alexandr Wang, who signed a US$14.3 billion deal to join Meta last week.

In exchange, Meta will get a stake in NFDG, the venture capital firm co-owned by Gross and Friedman that has backed companies such as Coinbase Global (NASDAQ:COIN), Figma, CoreWeave (NASDAQ:CRWV), Perplexity and Character.ai.

On the most recent episode of his brother’s “Uncapped” podcast, OpenAI CEO Sam Altman said that Meta has also offered signing bonuses as high as US$100 million and large compensation packages to OpenAI employees.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Oil prices rise more than 1% as Israel vows to intensify attacks on Iran

2 Mins Read

Crude oil futures rose more than 1% on Thursday, after Prime Minister Benjamin Netanyahu ordered Israel’s military to intensify attacks against Iran.

U.S. crude oil was last up $1.36, or 1.81%, to $76.50 per barrel by 9:38 a.m. ET, while global benchmark Brent added $1.10, or 1.43%, to $77.80 per barrel. Prices have gained more than 11% over the seven days since Israel began pounding Iran’s nuclear and missile programs.

Follow along for live coverage

Netanyahu ordered Israel’s military to intensify attacks on “strategic targets” in Iran and “government targets” in the country’s capital, Tehran, Israel Defense Minister Israel Katz said in a social media post. The goal of the strikes is to “undermine the ayatollah’s regime,” Katz said.

Israel’s decision to escalate its military operation against the Islamic Republic comes after an Iranian missile reportedly struck a major hospital in the southern city of Beersheba. Katz threatened Iran’s leader Ayatollah Ali Khamenei in the wake of the hospital strike.

Katz said Israel’s military “has been instructed and knows that in order to achieve all of its goals, this man absolutely should not continue to exist,” referring to Khamenei.

President Donald Trump is still considering whether to order a U.S. strike on Iran’s nuclear program. “I may do it, I may not do it, I mean nobody knows what I’m going to do,” Trump told reporters Wednesday.

JPMorgan warned on Wednesday that regime change in a major oil producing country like Iran could have a profound impact on global oil prices. Iran is one of the top producers in OPEC.

“If history serves as a guide, further destabilization of Iran could lead to significantly higher oil prices sustained over extended periods,” Natasha Kaneva, head of global commodities research at JPMorgan, told clients in a note.

Supply losses in the wake of a regime change “are challenging to recover quickly, further supporting elevated prices,” Kaneva said.

This post appeared first on NBC NEWS

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‘Not constitutional’: Congress invokes new War Powers Resolution to reject Trump’s strikes on Iran

5 Mins Read

Co-sponsors of the War Powers Resolution, Reps. Ro Khanna, D-Calif, and Thomas Massie, R-Ky., were quick to criticize President Donald Trump for greenlighting attacks on three nuclear sites in Iran Saturday night. 

‘This is not constitutional,’ Massie said, responding to Trump’s Truth Social post announcing the strikes on Fordow, Natanz and Isfahan in Iran. 

The bipartisan War Powers Resolution was introduced in the House of Representatives this week as strikes between Israel and Iran raged on, and the world stood by to see if Trump would strike. 

Sources familiar told Fox News Digital that both House Speaker Mike Johnson, R-La., and Senate Majority Leader John Thune, R-S.D., were briefed on the strikes ahead of time. 

‘Trump struck Iran without any authorization of Congress. We need to immediately return to DC and vote on @RepThomasMassie and my War Powers Resolution to prevent America from being dragged into another endless Middle East war,’ Khanna said. 

This week, lawmakers sounded off on the unconstitutionality of Trump striking Iran without congressional approval. Congress has the sole power to declare war under Article I of the Constitution. 

The War Powers Resolution seeks to ‘remove United States Armed Forces from unauthorized hostilities in the Islamic State of Iran’ and directs Trump to ‘terminate’ the deployment of American troops against Iran without an ‘authorized declaration of war or specific authorization for use of military forces against Iran.’

As Trump announced his strikes against Iran – without congressional approval – Khanna said representatives should return to Capitol Hill to prevent further escalation.

And in the upper chamber, Sen. Tim Kaine, D-Va., introduced his own war powers resolution ahead of the bipartisan duo in the House. While the resolution had been gaining steam with his colleagues, momentum could be stalled due to the strikes. His resolution is privileged, meaning that lawmakers will have to consider it. The earliest it could be voted on is Friday.

Kaine argued in a statement that ‘the American public is overwhelmingly opposed to the U.S. waging war on Iran.’

‘And the Israeli Foreign Minister admitted yesterday that Israeli bombing had set the Iranian nuclear program back ‘at least 2 or 3 years,” he said. ‘So, what made Trump recklessly decide to rush and bomb today? Horrible judgment. I will push for all senators to vote on whether they are for this third idiotic Middle East war.’

This week on Capitol Hill, Massie, the conservative fiscal hawk who refused to sign onto Trump’s ‘big, beautiful bill,’ built an unlikely bipartisan coalition of lawmakers resisting the U.S.’ involvement in the Middle East conflict. 

‘This is not our war. But if it were, Congress must decide such matters according to our Constitution,’ Massie said. 

Massie, whom Trump threatened to primary during the House GOP megabill negotiations, invited ‘all members of Congress to cosponsor this resolution.’ By Tuesday night, the bipartisan bill had picked up 27 cosponsors, including progressive ‘Squad’ members Reps. Alexandria Ocasio-Cortez and Ilhan Omar.

Across the political aisle, Rep. Marjorie Taylor Greene, R-Ga., signaled her support, writing that Americans want an affordable cost of living, safe communities and quality education ‘not going into another foreign war.’

‘This is not our fight,’ Greene doubled down on Saturday night, before Trump’s Truth Social announcement. 

The bill’s original co-sponsors also include progressive Democrat Reps.Pramila Jayapal, Summer Lee, Ayanna Pressley and Rashida Tlaib, who called it unconstitutional for ‘Trump to go to war without a vote in Congress.’

White House Press Secretary Karoline Leavitt said Thursday that Trump would make his decision about whether to bomb Iran within two weeks. 

‘We have completed our very successful attack on the three Nuclear sites in Iran, including Fordow, Natanz, and Esfahan. All planes are now outside of Iran air space. A full payload of BOMBS was dropped on the primary site, Fordow. All planes are safely on their way home. Congratulations to our great American Warriors. There is not another military in the World that could have done this. NOW IS THE TIME FOR PEACE! Thank you for your attention to this matter,’ Trump said Saturday night. 

Israel launched preemptive strikes on Iran’s nuclear facilities and military leaders last week, which the Islamic Republic considered a ‘declaration of war.’ Strikes between Israel and Iran have raged on since, as Trump said he was considering whether to sign off on U.S. strikes against Iran. 

The Jewish State targeted Iran’s nuclear capabilities after months of failed negotiations in the region and heightened concern over Iran developing nuclear weapons. 

But Ali Bahreini, Iran’s ambassador to Geneva, said Iran ‘will continue to produce the enriched uranium as far as we need for peaceful purposes,’ as Israel, and now the U.S., have issued strikes against Iran’s nuclear capabilities. 

This post appeared first on FOX NEWS

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Why First Solar stock remains a raging buy despite Trump’s spending bill

3 Mins Read

Investors have bailed on First Solar Inc (NASDAQ: FSLR) in recent sessions after the US Senate backed removal of subsidies for solar companies that President Trump proposed last month in his “One Big Beautiful Bill Act”.

Still, RBC analysts led by Christopher Dendrinos remain convinced that FSLR may actually prove a bright spot in an industry that’s otherwise “toast” after the upper chamber’s recent nod on cutting incentives.

Following a massive decline over the past month, First Solar stock is down more than 25% versus its year-to-date high.

Why is First Solar stock insulated from Trump’s spending bill?

Dendrinos is confident that FSLR shares will prove resilient and more insulated than other renewable energy stocks from the potential impact of the Senate’s recent decision on the solar industry, primarily because it’s a utility-scale operator.

“We believe utility solar will be more resilient [since] these projects are not limited by the leasing restrictions,” he told clients in a research note on Friday.

First Solar drives most of its business from large-cap companies like Amazon and Meta Platforms, instead of households.

In 2025, these names rely rather aggressively on solar farms to power their artificial intelligence data centres. So, the demand outlook for FSLR remains strong as ever since subsidies and discounts don’t matter much for its multi-billion-dollar customers.

“If you [build] a data center, energy power is like 7% of the cost. If 7% of the cost [becomes] 9% of the cost, do you think they will stop this project? I do not think so,” argued Per Lekander, the founder of Clean Energy Transition, in a recent interview with CNBC.  

That’s actually part of the reason why First Solar shares, despite the recent crash, are still up more than 20% versus their year-to-date low in early April.

Is it worth buying FSLR shares at current levels?

Lekander sees the recent pullback in FSLR stock as a raging “buying opportunity” as there aren’t any practical alternatives for the Tempe headquartered manufacturer of solar panels.

“If you were to go and try to do a gas turbine, you’d probably get it delivered in 2033. If you want to build a nuclear plant, it’s 2040. A solar plant, you can do it one year,” he told CNBC this week.

Lekander sees the company’s utility-scale operations as such a massive advantage that he’s convinced First Solar stock could as much as double from current levels.  

What’s also worth mentioning here is that solar power, even without tax credits, arguably retains its value proposition compared to fossil fuels.

That’s partly why the rest of Wall Street hasn’t thrown in the towel on First Solar stock either. The consensus rating on FSLR shares remains at “overweight” with the mean target of $202, indicating potential upside of nearly 40% from current levels.

The post Why First Solar stock remains a raging buy despite Trump’s spending bill appeared first on Invezz

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Crypto Market Recap: Bitcoin Price Stalls as Fed Holds Rates Steady, Circle Shares Jump

6 Mins Read

Here’s a quick recap of the crypto landscape for Friday (June 20) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) is priced at US$103,366, a decrease of 0.9 percent in the last 24 hours. The day’s range for the cryptocurrency brought a low of US$102,624 and a high of US$106,042 as the market opened.

Bitcoin price performance, June 20, 2025.

Chart via TradingView.

The Bitcoin price stalled after reaching around US$106,500, then sank below US$104,000 as an unusually large expiry of options and futures contracts worth US$6.8 trillion occurred on US stock indexes.

The US Federal Reserve held interest rates steady on Wednesday (June 18), but Christopher Waller, a member of the Federal Reserve Board of Governors, said a cut is possible next month if inflation remains controlled.

Cuts typically boost risk assets like Bitcoin. Markets have already pushed the US dollar index to a three year low, so a surprise rate cut could further weaken the dollar and propel Bitcoin forward.

Ethereum (ETH) is currently priced at US$2,415.98, a 3.5 percent decrease over the past 24 hours. Its lowest valuation on Friday was US$2,396.50, and its highest valuation was US$2,556.46 as trading commenced.

Altcoin price update

  • Solana (SOL) was priced at US$139.45, down 4.1 percent over 24 hours. SOL experienced a low of US$136.98 after peaking at its opening price of US$147.68.
  • XRP pulled back from its opening price of US$2.17, its highest valuation of the day, to trade at US$2.12 as the markets wrapped, a 2.1 percent decrease in 24 hours. Its lowest valuation on Friday was US$2.09.
  • Sui (SUI) closed at US$2.72, a declineof 3.9 percent over the past 24 hours. Its price also peaked this morning at US$2.85 and its lowest valuation was US$2.66.
  • Cardano (ADA) is priced at US$0.5783, down 3.6 percent in 24 hours. Its lowest valuation on Friday was US$0.5636, and its highest valuation was US$0.6044.

Today’s crypto news to know

Coinbase launches Stablecoin payments platform for e-commerce

Coinbase Global (NASDAQ:COIN) has unveiled a new product called Coinbase Payments, designed to help online retailers accept stablecoins like USDC with minimal friction. The system is built to mirror traditional card infrastructure so that merchants can plug it in without having deep cryptocurrency knowledge.

The platform targets marketplaces such as Shopify (TSX:SHOP,NYSE:SHOP) and eBay (NASDAQ:EBAY), giving small to medium businesses a cost-effective alternative to credit card fees.

Shopify is the first to integrate the system, allowing merchants to accept USDC payments through Coinbase’s Layer 2 Base network. The platform supports crypto wallets like Coinbase Wallet, MetaMask and Phantom and includes features for transaction authorization, refunds and recurring payments.

Circle surges as Senate approves Stablecoin Bill

Circle (NYSE:CRCL) shares continued to rally on Friday, jumping another 11 percent after a 34 percent surge the day before, as momentum builds behind a Senate-approved bill to regulate stablecoins.

The GENIUS Act, a bipartisan effort, could bring long-awaited legal clarity to stablecoin issuers like Circle, which manages the US$32 billion USDC token. Although the bill still needs approval from the House and requires a signature from US President Donald Trump, investors are already optimistic.

Circle shares are now trading at US$221, up from an initial public offering price of just US$31 — signaling massive investor confidence amid a changing regulatory climate.

South Korea’s central bank weighs in on stablecoins

Bank of Korea Governor Rhee Chang-yong said at a press conference this week that the central bank is not opposed to a won-based stablecoin, but is concerned about managing the FX of the token, according to Reuters report.

‘Issuing won-based stablecoin could make it easier to exchange them with a dollar stablecoin rather than working to reduce the use of a dollar stablecoin. That in turn could increase demand for dollar stablecoin and make it difficult for us to manage forex,’ Chang-yong told reporters in Seoul.

Earlier this month, South Korea’s Democratic Party proposed the Digital Asset Basic Act, which aims to establish a regulatory framework to enable local companies to issue won-denominated stablecoins.

Parataxis to launch institutional Bitcoin treasury company

Parataxis Holdings, an affiliate of digital asset-focused investment company Parataxis Capital Management, announced Friday that it has entered a definitive agreement to acquire a controlling interest in biotech company Bridge Biotherapeutics (KOSDAQ:288330) for an investment of 25 billion South Korean won, roughly US$18.5 million.

Following the closing of the deal, Parataxis will become Parataxis Korea and be repurposed as a treasury vehicle for institutional Bitcoin exposure, joining a growing list of companies holding Bitcoin on their balance sheet.

“Inspired by the growing interest in BTC treasury strategies seen in companies like Strategy in the US and Metaplanet in Japan, we believe institutional interest in this space is increasing globally,” said Andrew Kim, a partner at Parataxis Capital. “We see South Korea as an important market in the evolution of BTC adoption.”

“We are incredibly excited to create the first BTC treasury company in South Korea backed by an institutional-grade platform. Given the strategic nature of BTC on the global stage and its finite supply, we believe that building and growing a company like Parataxis Korea and accumulating a BTC treasury will benefit our shareholders as well as the country over the long run,” echoed founder Edward Chin.

Kraken introduces Bitcoin staking with Babylon partnership

Kraken, a leading cryptocurrency exchange, made a landmark announcement on Thursday (June 19), revealing a strategic partnership with Bitcoin staking protocol Babylon to introduce a staking product that allows Kraken users to earn interest on their Bitcoin holdings without the need for bridging, wrapping or lending.

These traditional methods, while enabling some forms of yield generation, can introduce additional risks and technical hurdles for users. Kraken and Babylon aim to provide a more streamlined, secure and accessible way for Bitcoin holders to generate passive income. The interest earned through this new product will come in the form of BABY tokens, the native cryptocurrency of the Babylon protocol.

Arizona advances bill to create state Bitcoin reserve

Arizona is one step closer to becoming the second US state with an official Bitcoin reserve, after its Senate narrowly passed House Bill 2324. The bill allows the state to hold abandoned digital assets as unclaimed property and establishes a Bitcoin and digital assets reserve fund for those holdings. The news comes on the heels of House Bill 2749, which was signed into law in April and amended Arizona’s forfeiture laws to recognize digital assets.

HB2324 will now return to the House for final approval before heading to the governor’s desk. Earlier efforts to invest seized funds directly into BTC were vetoed by Governor Katie Hobbs, who cited concerns over crypto’s volatility.

If passed, Arizona would join New Hampshire in formalizing a state-level Bitcoin reserve.

Similar legislation is pending in Texas.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Apple looking to make ‘premium’-priced folding iPhones starting next year, analyst says

2 Mins Read

Apple has plans to make a folding iPhone starting next year, reliable analyst Ming-Chi Kuo said on Wednesday.

Kuo said Apple’s folding phone could have a display made by Samsung Display, which is planning to produce as many as eight million foldable panels for the device next year. However, other components haven’t been finalized, including the device’s hinge, Kuo wrote. He expects it to have “premium pricing.”

Kuo is an analyst for TF International Securities, and focuses on the Asian electronics supply chain and often discusses Apple products before they’re launched.

He wrote in a post on social media site X that Apple’s plans for the foldable iPhone aren’t locked in yet and are subject to change. Apple did not respond to CNBC’s request for comment.

Apple’s iPhone makes up over half of Apple’s business and remains an incredibly profitable product, accounting for $201 billion in sales in the company’s fiscal 2024. But iPhone revenue peaked in 2022, and Apple is constantly looking for ways to attract new customers and convince its current customers to upgrade to more expensive devices.

Several of Apple’s rivals, including Huawei and Samsung, have been releasing folding smartphones since 2019.

The devices promise the screen size of a tablet in a format that can be stored in pants pockets. But folding phones still have hardware issues, including creases in the display where it is folded.

Folding phones also have yet to prove they drive significant demand after the novelty wears off.

Research firm TrendForce said last year that only 1.5% of all smartphones sold can fold. Counterpoint, another research firm tracking smartphone sales, said earlier this year that the folding market only grew about 3% in 2024 and is expected to shrink in 2025.

This post appeared first on NBC NEWS

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State Department says it has provided guidance to more than 25,000 people in Israel, West Bank and Iran

2 Mins Read

The State Department said Friday it had provided ‘information and support’ to over 25,000 people in Israel, the West Bank or Iran seeking guidance on what to do and how to get out.

When pressed on the matter during a State Department briefing Friday afternoon, State Department spokeswoman Tammy Bruce declined to go into further detail about how many of those 25,000 people are American citizens or any other breakdown of the number. 

News of the number of people the State Department has assisted comes after the agency announced the formation of a task force to assist Americans looking to leave Israel or other Middle Eastern countries.  

Bruce said during a press briefing Friday that the United States does not intend to help transport American citizens directly from Iran, and they will have to make it out first before they can be assisted by the government. 

United States Ambassador to Israel Mike Huckabee said earlier this week the embassy in Jerusalem was ‘working on evacuation flights & cruise ship departures’ for Americans trying to leave Israel.

Huckabee released his statement hours after the U.S. Embassy in Jerusalem wrote in its own X post that there was ‘no announcement about assisting private U.S. citizens to depart at this time,’ but it simultaneously acknowledged ‘the Department of State is always planning for contingencies to assist with private U.S. citizens’ departure from crisis areas.’

So far, the U.S. has not engaged in a large-scale effort to help Americans get out of Israel. But, according to ABC News, the military did assist in flying some American diplomats and family members from the U.S. Embassy this week. 

Private flights for American citizens did begin landing in Florida Thursday after Florida Gov. Ron DeSantis dispatched four planes to pick up U.S. citizens stuck in Israel during the ongoing violence. Other private options to get out of Israel are also available.

On Monday, the State Department raised its travel warning for Israel to the highest level possible.

This post appeared first on FOX NEWS

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Allianz share price analysis: is it a buy, sell, or hold?

3 Mins Read

Allianz share price has pulled back from its highest point this year, aligning with most German companies. After plunging to a low of €274.8 in April following Donald Trump’s “Liberation Day” tariffs, the stock jumped by 34%, reaching a high of €368. It has now retreated to €335 as investors watch the crisis in the Middle East. 

Alianz business is growing and facing challenges

Allianz Holdings is the third publicly-listed insurance company globally after UnitedHealth Holdings and Progressive, with a market capitalization of about $150 billion.

The company operates across continents, providing diverse insurance solutions across its segments like Allianz Life, Allianz Partners, and others It is also a large asset manager through its PIMCO business, which has over $1.5 trillion in assets.

Allianz’s business is doing well as insurance costs jump in most countries. However, the company is also facing challenges as the cost to service claims soar. Also, it is seeing higher climate-related risks in key countries. 

The most recent results showed that Allianz’s total business volume rose by 11% in the first quarter to €54 billion. This growth was mostly because of its Life and Health segment, whose business grew by 18% to €25 billion. It was followed by property and casualty, which grew by 7% to €27 billion, and asset management, which grew by 3% to €2 billion. 

Read more: Up 180% in 2025, can the Rheinmetall share price climb further?

Allianz’s profitability also continued, with the net income rising by 1.5% to €2.5 billion. The growth was impacted by its restructuring provisions as it sells its Indian joint venture. 

The property and casualty recorded an operating profit of €2.17 billion, a 5% increase, and the best quarter ever. Life and Health’s operating profit rose by 8% to €1.42 billion.

Its asset management, which includes PIMCO and AllianzGI had a higher operating profit of €811 million, a 5% increase even as its assets under management assets dipped slightly to €1.9 billion. 

Allianz’s management believes that the company has more room to grow despite the rising challenges. It expects that its full-year operating profit will be about €16 billion, and going by its past performance, there is a likelihood that it will do better than estimates. 

Allianz is also buying back substantial shares, a move intended to boost its earnings per share. It is buying shares worth €2 billion this year. The company also has a high dividend yield of about 4.50%.

Allianz share price analysis

Allianz stock chart | Source: TradingView

Technical analysis can help one identify potential targets of a company’s stock. In this case, the daily chart shows that the Allianz stock price peaked at €368 in May and then pulled back to the current €337, its lowest level since April 22. 

The stock has moved below the 50-day Exponential Moving Average (EMA), while the Relative Strength Index (RSI) and the MACD have all pointed downwards. 

On the positive side, Allianz stock price remains above the 200-day Exponential Moving Average. Therefore, the stock’s outlook is neutral for now. A break below the 200 average at €311 will confirm the bearish outlook. On the other hand, a move above the key resistance level at €368 will point to more upside, potentially to €400.

Read more: Here’s why SAP share price may crash to €208 soon

The post Allianz share price analysis: is it a buy, sell, or hold? appeared first on Invezz

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Critical Metals Secures US$120 Million Loan LOI for Tanbreez Rare Earths Project

2 Mins Read

Critical Metals (NASDAQ:CRML) got a boost on Monday (June 16), landing a letter of interest (LOI) for a non-dilutive US$120 million funding package from the Export-Import Bank of the US (EXIM).

The funds would be used to advance its Tanbreez rare earths project in Southern Greenland.

Touted as one of the world’s largest rare earths deposits, Tanbreez is expected to produce up to 85,000 metric tons of rare earth material annually, with more than 27 percent classified as heavy rare earth elements.

“This is a tremendous milestone for Critical Metals Corp which highlights to the rare earths supply chain, Western Governments and investors that Tanbreez is a world-class asset that will provide mission-critical rare earth metals to counter China’s continued dominance,” said Critical Metals CEO and Chairman Tony Sage.

The funding would support pre-production, technical studies and early mining activities. EXIM’s financing falls under its new Supply Chain Resiliency Initiative and comes with a 15 year repayment term.

Critical Metals acquired a controlling stake in Tanbreez in June 2024 in a transaction valued at up to US$211 million. It expects the asset to require US$290 million in capital expenditure to advance to initial commercial production.

The US$120 million from EXIM would support key early stage work at Tanbreez, including technical and economic studies, pre-production activities and the start of mining operations.

The company is aiming to complete a definitive feasibility study by late 2025.

Critical Metals also plans to invest an additional US$10 million in exploration this year, giving it the option to increase its ownership in the project to 92.5 percent through the acquisition of a further 50.5 percent stake.

“We are now razor focused to put Tanbreez into production as soon as possible,’ said Sage.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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DOJ seizes record $225 million in crypto tied to global ‘pig butchering’ scams

2 Mins Read

The Justice Department announced Wednesday the largest-ever U.S. seizure of cryptocurrency linked to so-called “pig butchering” scams that have cost victims billions globally.

Federal prosecutors filed a civil forfeiture action targeting more than $225 million in cryptocurrency traced to a sprawling web of fraudulent investment platforms. Victims were tricked into believing they were investing in legitimate crypto ventures, only to be scammed by criminal networks often operating overseas.

“This seizure of $225.3 million in funds linked to cryptocurrency investment scams marks the largest cryptocurrency seizure in U.S. Secret Service history,” said Shawn Bradstreet, special agent in charge of the U.S. Secret Service’s San Francisco Field Office, in a statement.

Authorities said the network was connected to at least 400 suspected victims worldwide, including dozens in the U.S. Crypto fraud was responsible for more than $5.8 billion in reported losses last year, according to FBI data.

The seized funds are now subject to forfeiture proceedings aimed at eventually returning money to victims.

The U.S. Secret Service and FBI used blockchain analysis and other tools to trace the cryptocurrency back to stolen assets. The DOJ credited Tether, the world’s largest stablecoin issuer, for assisting in the operation.

According to the complaint, the funds were linked to the theft and laundering of money from victims of cryptocurrency investment fraud schemes, commonly known as confidence scams that often involve romance.

The network relied on hundreds of thousands of transactions to obscure the origin of the funds, using sophisticated blockchain maneuvers to conceal the flow of stolen assets.

This post appeared first on NBC NEWS

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