Add a month at sea and $2.5 million – what it costs oil tankers to flee Hormuz and Bab el-Mandeb

Nonbank mortgage giant Rocket Cos. closed on a multibillion-dollar credit agreement with JPMorgan Chase on Thursday that will replace the facility it took out while two of its large acquisitions were pending last year. Processing Content The new credit line Rocket will use for general corporate purposes has an initial $2.5 billion capacity and allows…

Shares of IT services company HCL Tech slipped 3.1% to Rs 1,183 on the BSE on Tuesday despite reporting a 20% year-on-year (YoY) growth in consolidated net profit to Rs 4,624 crore for the first quarter. The figure stood at Rs 3,843 crore in the year-ago quarter. Revenue from operations for the June quarter increased…

Financial stocks have been among the market’s best performers this month. The Fed’s next move, however, may determine how much further the rotation can run.

UK annual house price growth remained broadly stable in August at 1.6%, with house prices up 0.2% month on month, according to the latest house price index from Nationwide. Commenting on the figures, Nationwide’s chief economist   Robert Gardner said market activity and house prices had remained subdued in recent months, in part reflecting the uncertain…

The S&P 500 Index ($SPX) (SPY) on Friday closed down -1.01%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.77%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.49%.  September E-mini S&P futures (ESU26) fell -1.02%, and September E-mini Nasdaq futures (NQU26) fell -1.51%.  Stock indexes settled sharply lower on Friday, with the S&P 500 posting a…

(Bloomberg) — Executives at some of Wall Street’s biggest names have faced a barrage of recent questions about whether artificial intelligence has crippled the value of their software investments. Their answers have a common refrain: There’s nothing to see here.  But public data from mutual funds, which invest in many of these same companies, show…