Trump Rules Out Iran Strikes Before Midterms, Oil Rises as Hormuz Attacks Continue
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Oil rises as attacks in the Strait of Hormuz continue, even as Donald Trump says the US will not attack Iran before the midterm elections. Asian stocks slip amid US tech jitters, while Bahrain’s borrowing costs surge to a six-year high. OpenAI expects annualized revenue to reach $70 billion by the end of 2026, up from a $50 billion run rate in September, as it discusses a new funding round of more than $30 billion. France’s fiscal concerns remain in focus, with investors watching for potential contagion to Italian bond spreads and the euro. Ecobank opens its first office in Beijing as commercial ties between China and Africa deepen. Meanwhile, SpaceX announces a spectrum deal for Starlink’s mobile-phone service, and Starbucks is reported to have explored a takeover of Chipotle. The US tightens restrictions on tech visas, barring Microsoft and Indian firms from a key visa program that has served as an important talent pipeline for Silicon Valley and Wall Street. Airtel Money begins trad
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