Rubio Says Iran Cannot ‘Normalize’ Its Control of the Strait of Hormuz

Saudi Arabia's Most Critical Pipeline Restored After Drone Attack A key Saudi oil pipeline to the Red Sea was restored on Sunday and is now pumping at full capacity after an Iranian drone attack last week damaged a pumping station. The East-West pipeline is back at full capacity, moving about 7 million barrels per day and restoring critical energy flows from Saudi's Persian Gulf oil fields to the Red Sea port of Yanbu, bypassing the turmoil in the Strait of Hormuz. Bloomberg quoted the Saudi energy ministry as saying that Saudi...

SaaSpocalypse Is Back: IBM Crashes Most Since 1987 As Customers Abruptly "Shift CapEx Spending" IBM shares plunged almost 20% in premarket trading, putting the stock on track for its worst intra-day collapse since Oct. 19, 1987. Worse than the Dot Com crash... The catalyst for the selloff was IBM CEO Arvind Krishna's letter to investors outlining preliminary second-quarter results. Here is what's key: IBM CEO: DID NOT ANTICIPATE MAGNITUDE OF CAPEX REPRIORITIZATION Traders were likely caught off guard by a 7% decline in infrastructure revenue, raising new concerns about demand across one of IBM's key...