US energy giant ExxonMobil announced Thursday the resumption of its gas development project in Mozambique, which had been suspended for several years due to a jihadist insurgency. TotalEnergies announced on October 25 that it had lifted the force majeure and resumed its own project in Mozambique after operations were suspended for four years.
Nike reported a drop in quarterly profits Thursday, citing a drag from higher US tariffs and continued weakness in China in results that sent shares sharply lower. But tariffs remained a drag.
Trump Media & Technology Group, the struggling company that owns the US president's Truth Social platform, announced Thursday a $6 billion merger with fusion power company TAE Technologies, in an unexpected pivot into energy technology. TAE Technologies, founded in 1998, says its fusion technology could provide abundant electricity to power AI infrastructure.
The Bank of England cut its key interest rate to 3.75 percent on Thursday after UK inflation eased faster than expected and as the economy weakens. The central bank last cut its key interest rate in August amid concerns over the impact of US tariffs on the UK economy.
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