BlackRock Inc. is trimming its bet on stocks across its $220 billion model-portfolio business as US equities surge to record highs following a strong earnings season. The world’s largest asset manager cut its overweight position in equities from 3% to 1%, according to...

Emirates Global Aluminium, the Middle East’s top producer of the metal, halted operations at its Al Taweelah smelter after the site was struck by Iranian missiles and drones over the weekend, according to a person familiar with the matter. The smelter on the outskirts...

London’s unsettled family office economy has drawn rising investment from wealthy Middle Eastern families in the past 18 months, providing a boost as other rich investors pull back. Firms managing multi-billion-dollar fortunes from the United Arab Emirates to Saudi...

Nike Inc. shares tumbled after the retailer gave a surprisingly gloomy outlook for the year ahead, complicating Chief Executive Officer Elliott Hill’s efforts to turn around the business. Revenue is expected to decline 2% to 4% in the current quarter and will be down...

Deirdre Dunn has been reading up about fertilizer markets. Since the US attacks on Iran began roiling oil markets, the Citigroup Inc. rates-trading chief has been looking to other commodities to monitor the knock-on effects of the military action on inflation and how...

The world economy is being held hostage by the de facto closure of the Strait of Hormuz. Gasoline, jet fuel and diesel prices have skyrocketed. Stock markets have tumbled, and recession odds have climbed. After weeks of trying and failing to reopen the critical...

Emirates Global Aluminium has moved to sell large volumes of alumina — the key raw material needed to make aluminum — following a strike on a smelter it runs on the outskirts of Abu Dhabi, according to people familiar with the matter. EGA this week offered to sell...

Christine Lagarde used an audience of high-level Group of Seven officials to challenge Treasury Secretary Scott Bessent’s optimism that the Iran war’s economic fallout will be short-lived, according to people familiar with the matter. Bessent played down the damage...

One of the world’s largest petrochemical facilities in Saudi Arabia halted production as the Middle East conflict disrupts supply chains and energy operations in the region. Sadara Chemical Co. said the temporary shutdown had been completed at its plant in the...

SpaceX is preparing to launch the largest IPO of all time — with expectations that it could raise more than all U.S. listings in 2024 and 2025. Why it matters: Wall Street is understandably giddy. But what it's about to pitch investors is unprecedented, and could...

On March 19, Ras Laffan, the largest liquified natural gas (LNG) terminal in the world, supplying one-fifth of the world’s super-chilled fuel, was hit by Iranian missiles and drones. The Qatari terminal suffered substantial damage in the strikes – fires were raging...