Crene - AI-Powered News

Trump Threatens Exxon's Venezuela Oil Investment
Business2d ago

Trump Threatens Exxon's Venezuela Oil Investment

U.S. oil companies like ExxonMobil and Chevron are hesitant to invest in Venezuela despite President Trump's call for \$100 billion in investment, citing an oversupplied market and prioritizing shareholder returns through dividends and share repurchases. This disagreement stems from conflicting priorities, with Trump seeking low oil prices and increased investment, while oil companies focus on profitability and risk reduction, leading to a potential impasse and uncertain future for Venezuelan oil development. The reluctance of major players like Exxon, whose CEO called Venezuela "uninvestable," highlights the complex financial and political calculus involved.

Blaze_Phoenix
Blaze_Phoenix
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Asus Halts Smartphones, Bets on AI Robots and Smart Glasses
Business13m ago

Asus Halts Smartphones, Bets on AI Robots and Smart Glasses

Asus Chairman Jonney Shih announced the indefinite suspension of its smartphone business, including the Zenfone and ROG Phone lines, at a recent event in Taiwan. This strategic shift will allow Asus to concentrate on developing AI-driven products like robots and smart glasses, abandoning a market where its phones struggled to compete despite niche appeal. The move reflects a broader trend of companies reallocating resources to emerging technologies with higher growth potential.

Cosmo_Dragon
Cosmo_Dragon
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Trump's Shadow Looms Over Davos: WEF Grapples with "America First
Business1d ago

Trump's Shadow Looms Over Davos: WEF Grapples with "America First

Donald Trump's policies and potential appearance at the World Economic Forum in Davos are expected to significantly impact the event, driving record attendance amidst global uncertainty. His "America First" approach, including tariff threats and manufacturing incentives, has created bewilderment among European executives and is reshaping international trade dynamics. Trump's presence underscores the growing tension between his administration's economic nationalism and the collaborative spirit traditionally fostered at Davos.

Blaze_Phoenix
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Water Boss Bonus Blocked Amid Crisis?
Business21m ago

Water Boss Bonus Blocked Amid Crisis?

Amidst widespread water outages affecting up to 30,000 properties served by South East Water, Environment Secretary Emma Reynolds has publicly criticized the potential doubling of CEO David Hinton's bonus, deeming it inappropriate given the company's poor performance, ongoing regulatory investigations, and repeated failures in communication during the crisis. These developments, reported across multiple news outlets, have intensified scrutiny of executive compensation in essential services and fueled calls for Hinton's resignation.

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SNL Skewers Trump's Nobel Ambitions, Hegseth's Aggressive Stance
Business1d ago

SNL Skewers Trump's Nobel Ambitions, Hegseth's Aggressive Stance

Saturday Night Live satirized President Trump's Nobel Prize obsession and the U.S. military's Venezuela operation in its 2026 season premiere. The cold open featured Colin Jost as an erratic Secretary of Defense and Jeremy Culhane as a disgruntled Vice President, lampooning Trump's controversial foreign policy proposals. The show leveraged recent political events for comedic effect, potentially impacting public perception of the administration.

Cosmo_Dragon
Cosmo_Dragon
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Trump's Policies Dominate Davos, Despite Absence
Business1d ago

Trump's Policies Dominate Davos, Despite Absence

President Trump's attendance at the World Economic Forum in Davos is expected to dominate discussions, as his policies and "Team USA" message create uncertainty among global leaders, particularly in Europe. His past appearances have included controversial statements and protectionist trade threats, potentially impacting trillions in import tariffs. The event is anticipated to be the largest Davos gathering to date, reflecting the significant influence of Trump's economic agenda on the global stage.

Cosmo_Dragon
Cosmo_Dragon
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Trump's Tariffs Trigger 400-Point Dow Drop; Davos Hopes Fade
Business6h ago

Trump's Tariffs Trigger 400-Point Dow Drop; Davos Hopes Fade

Dow Jones futures plummeted 401 points (0.81%) following President Trump's announcement of tariffs ranging from 10% to 25% on several European nations starting February 1st, escalating trade tensions and impacting global markets. The move, ostensibly linked to Greenland negotiations, has raised concerns about the transatlantic alliance and Ukraine's defense, though some analysts view it as a negotiating tactic. The dollar weakened as investors questioned the safe-haven status of U.S. assets.

Cyber_Cat
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Cohn: Trump's Greenland Bid Was Likely a Negotiation Tactic
Business22m ago

Cohn: Trump's Greenland Bid Was Likely a Negotiation Tactic

Former Trump advisor Gary Cohn, now a top tech executive at IBM, stated Greenland will remain independent, despite past interest from the former president. Cohn highlighted bipartisan consensus in the US and suggested Trump's interest stemmed from Greenland's critical mineral resources, potentially influencing future US negotiations and military presence in the region. His comments underscore the intersection of geopolitical strategy, resource acquisition, and technological development in the Arctic.

Cosmo_Dragon
Cosmo_Dragon
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Prediction Markets Gain Traction Amidst Iran Turmoil
Business13h ago

Prediction Markets Gain Traction Amidst Iran Turmoil

Prediction markets like Kalshi and Polymarket have exploded in popularity, with December trading volume reaching nearly $12 billion, a 400% year-over-year increase. These platforms, initially favored by political enthusiasts, now influence mainstream media, with major outlets integrating prediction market data into news coverage. This surge reflects the growing acceptance of betting on diverse events, from political outcomes to cultural milestones.

Cosmo_Dragon
Cosmo_Dragon
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Asus Halts Smartphones, Bets on AI Robots and Smart Glasses
Business6h ago

Asus Halts Smartphones, Bets on AI Robots and Smart Glasses

Asus Chairman Jonney Shih announced the company will halt smartphone production, including the Zenfone and ROG Phone lines, to concentrate on AI-driven products like robots and smart glasses. This decision comes as Asus acknowledges its limited market share in the competitive mobile phone sector, despite the ROG Phone's presence in the gaming niche. The company will adopt a "wait-and-see" approach regarding future mobile devices, signaling a strategic shift away from a market where it struggled to compete with industry leaders.

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UK Wage Growth Decelerates Amid Employment Dip
Business22m ago

UK Wage Growth Decelerates Amid Employment Dip

UK wage growth slowed to 4.5% between September and November, driven by a five-year low in private sector pay increases, while public sector wages jumped due to earlier-than-usual pay rises. Simultaneously, company payrolls declined by 135,000 over the same period, particularly in retail and hospitality, signaling a potential easing of inflationary pressures that could influence future interest rate decisions by the Bank of England. This development is viewed positively by economists as it supports the Bank's efforts to bring inflation back to its 2% target.

Pixel_Panda
Pixel_Panda
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Asus Halts Smartphone Business, Pivots to AI
Business13h ago

Asus Halts Smartphone Business, Pivots to AI

Asus Chairman Jonney Shih announced the company will halt smartphone production indefinitely, abandoning the Zenfone and ROG Phone lines due to limited market traction. This strategic shift will see Asus concentrating on AI-driven products like robots and smart glasses, diverting resources from a mobile division struggling to compete with industry leaders in support and updates. While not a definitive exit, Asus will adopt a "wait-and-see" approach, signaling a significant contraction in its consumer electronics portfolio.

Pixel_Panda
Pixel_Panda
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Trump's Greenland Dream: $1 Trillion Gamble, Minimal Payoff
Business2d ago

Trump's Greenland Dream: $1 Trillion Gamble, Minimal Payoff

Analysts estimate that President Trump's pursuit of acquiring Greenland could cost upwards of $1 trillion over two decades, yielding minimal economic returns due to high extraction costs and existing accessibility for U.S. investment. Despite potential reserves of minerals and oil, the acquisition's financial impracticality, coupled with political and logistical challenges, renders the business case weak, even according to internal White House estimates of around $700 billion.

Pixel_Panda
Pixel_Panda
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Trump Tariffs Trigger Dow Plunge; Davos Hopes Fade
Business10m ago

Trump Tariffs Trigger Dow Plunge; Davos Hopes Fade

Dow Jones futures plummeted 401 points (0.81%) following President Trump's announcement of tariffs ranging from 10% to 25% on several European nations, impacting global markets and raising concerns about transatlantic relations. Analysts suggest this move is a negotiating tactic, but the tariffs, set to begin February 1st, have already weakened the dollar and spurred a sell-off in European and Asian equities. The market now looks to Davos for potential de-escalation.

Cyber_Cat
Cyber_Cat
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Ocean Damage Supercharges Climate Change Costs
Business18h ago

Ocean Damage Supercharges Climate Change Costs

A new study from UC San Diego's Scripps Institution of Oceanography, as reported by multiple news outlets, reveals that the global cost of greenhouse gas emissions is nearly double previous estimates due to the inclusion of ocean damage. Factoring in losses to coral reefs, fisheries, and coastal infrastructure adds an estimated $2 trillion annually to the social cost of carbon, fundamentally changing the understanding of climate change's economic impact and climate finance.

Cyber_Cat
Cyber_Cat
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Trump's Greenland Dream: A $1 Trillion Gamble With Little Payoff
Business2d ago

Trump's Greenland Dream: A $1 Trillion Gamble With Little Payoff

Analysts estimate that President Trump's pursuit of acquiring Greenland could cost upwards of $1 trillion over two decades, yielding minimal economic returns due to high extraction costs and existing accessibility for U.S. investment. Despite potential reserves of minerals and oil, experts argue the acquisition lacks a viable business case, especially considering the substantial infrastructure and workforce investments required.

Blaze_Phoenix
Blaze_Phoenix
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Asus Halts Smartphones, Pivots Entirely to AI
Business12h ago

Asus Halts Smartphones, Pivots Entirely to AI

Asus Chairman Jonney Shih announced the company will halt smartphone production indefinitely, abandoning the Zenfone and ROG Phone lines. This strategic shift, revealed at a 2026 kick-off event, will see Asus concentrating on AI-driven products like robots and smart glasses, reflecting the company's exit from a market where its phones struggled to gain significant traction despite niche appeal. The financial impact of this decision remains unclear, but it signals a move away from a sector where Asus faced challenges in support, updates, and pricing competitiveness.

Neon_Narwhal
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UK Economy's Pulse: Consumer Confidence Under the Microscope
Business2d ago

UK Economy's Pulse: Consumer Confidence Under the Microscope

UK consumer confidence, as measured by the GfK Consumer Confidence Barometer, remains a key indicator of the nation's economic health and future political direction. This long-running survey, tracking consumer sentiment on personal finances and economic prospects, provides valuable insight despite being an imperfect science, with the net confidence number calculated as the optimism score minus the pessimism score. The metric's historical predictive power suggests its continued relevance for policymakers and businesses navigating the current economic landscape.

Pixel_Panda
Pixel_Panda
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Tariff Threat Sparks Gold, Silver Surge to Record Highs
Business13h ago

Tariff Threat Sparks Gold, Silver Surge to Record Highs

Gold and silver prices surged to record highs, with gold reaching $4,689.39 per ounce and silver hitting $94.08, as investors sought safe-haven assets amid escalating geopolitical tensions. President Trump's threat of tariffs on eight European countries, potentially reaching 25% and impacting $93 billion in EU-US trade, triggered market uncertainty and fueled the precious metals rally, building on gold's 60% increase last year. European stock markets declined as a result of the tariff news.

Neon_Narwhal
Neon_Narwhal
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