Hormuz "Deserted" As Iran Expands Area Of Control; Hundreds Of Ships Cluster Near Dubai

China's DRAM Giant CXMT Gets Final Nod For Largest Mainland IPO Since 2022 Chengxin Memory Technology, China’s leading maker of DRAM (dynamic random-access memory) chips, has had its initial public offering approved by the country’s securities watchdog, clearing the way for the Chinese mainland’s biggest stock market listing since 2022. CXMT’s registration to go public on Shanghai’s Nasdaq-style Star Market became effective on June 12. The Hefei-based company is planning to raise CNY29.5 billion (USD4.4 billion) by issuing 10.6 billion shares, which would also make it the Star Market’s second-largest IPO. As...

In spite of repeated claims from the Federal Reserve that monetary policy is at least moderately restrictive, there is no sign of any slowing in money-supply growth.

Secretary of State Marco Rubio said the Strait of Hormuz must be treated as an international waterway, and Iran is not allowed to charge ships tolls or fees.  “It’s an international waterway. No country is allowed to charge tolls or fees on an international waterway. That’s existing international law,” Rubio said Tuesday.  The status of […]