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Featured

Houthis say targeted Saudi oil giant Aramco, vow more attacks

Yemen's Houthis said Wednesday they had targeted facilities belonging to Saudi Aramco, after Saudi officials reported a strike on a building in an area housing the energy giant's operations centre.

FIFA to offer members $6.35-billion development fund windfall

Football's world governing body FIFA is planning to set up a $6.35-billion development fund for the next four years, AFP learned Wednesday from a source close to the matter.

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French mobile operators agree 20.4-bn-euro joint bid for SFR

Three of France's mobile operators have agreed a joint bid worth 20.4 billion euros ($23.5 billion) for rival SFR, owned by indebted French-Luxembourg telco group Altice.

US says shot down Iran drones as war reaches 100th day

The United States said it shot down a pair of Iranian drones threatening the Strait of Hormuz, as the Middle East war reached its 100th day on Sunday with no end in sight.

US says shot down Iran drones in fresh escalation

The United States said it shot down a pair of Iranian drones threatening the Strait of Hormuz, the latest escalation of violence as the war crept into its 100th day on Sunday with no end in sight.

Dubai luxury hotels woo staycationers as tourists flee

Once reserved for wealthy travellers, Dubai's top-notch hotels have become almost exclusively reliant on residents, drawn in by dizzying staycation offers as war drives tourists away.

India flyover school offers lifeline to street children

Beneath a busy flyover in India's financial capital Mumbai, a row of pastel-coloured shipping containers houses an unlikely school serving some of the city's most marginalised children.

As OPEC+ meets, Iran war hobbles power to shape oil market

OPEC+ ministers meet Sunday to weigh higher production quotas in a bid to cap oil prices that have surged since the Iran war effectively choked off Gulf crude shipments.

In the Knicks, New Yorkers see their own resilience reflected

As New York prepares to host the World Cup, the city is instead awash in Knicks blue and orange, reflecting a deep love for the gritty, unifying team chasing a historic NBA Finals victory.

Brian Ferdinand: Driving Performance Through Disciplined Trading and Portfolio Management at EverForward

LAS VEGAS, NV / ACCESS Newswire / June 7, 2026 / In today's increasingly complex financial markets, successful investing requires more than identifying opportunities-it demands discipline, risk awareness, and the ability to adapt to constantly changing conditions. For Brian Ferdinand, Portfolio Manager and Trader at EverForward, these principles form the foundation of a trading philosophy centered on consistency, accountability, and long-term performance.

Kanye West draws crowd in Netherlands despite antisemitic tirades

Tens of thousands of fans flocked to see US rapper Kanye West perform in the Netherlands on Saturday, despite controversy over his antisemitic tirades that have prompted the cancellation of several European concerts.

LA stadium workers threaten strike ahead of World Cup

Workers at SoFi Stadium in Los Angeles have overwhelmingly voted to authorize a potential strike during the World Cup, just days before football's global showpiece begins.

Hegseth urges Europe on D-Day to counter present-day 'invasion'

US Defense Secretary Pete Hegseth on Saturday urged Europe to counter what he termed an "invasion" of its coastline by migration, as he marked the 82nd anniversary of the World War II D-Day landings in France.

Iran targets Bahrain and Kuwait after new US strikes

Iran launched a salvo of missiles at US allies Bahrain and Kuwait on Saturday after fresh American strikes, drawing a furious response from the Gulf monarchies and further straining a fragile truce.

Turkey probes billionaire businessman, 95 over Kurdish woman joke

Prosecutors on Saturday opened a probe into a 95-year-old billionaire and honorary head of Koc Holdings, Turkey's biggest conglomerate, over a joke about a Kurdish woman widely denounced as sexist and racist.

Lay loving life as first lady of Lord's turf

Meg Lay has swapped harvesting peas in New Zealand for tending the hallowed turf at Lord's as one of the few women in the groundskeeping industry.

Bitcoin and the Daily Illusion of Selling Investors a Bag of Air

In early June 2026 the world’s largest cryptocurrency suffered a dramatic sell‑off. Bitcoin plunged from roughly $71,000 to an intra‑week low near $60,028. This 17 % decline marked the lowest level since February and meant the price had dropped about a quarter since the beginning of the month. News agency Reuters reported on 3 June that Bitcoin had fallen to $64,721.39, its weakest level since 28 February.The sudden drop unsettled investors and triggered debates about whether Bitcoin – often touted as “digital gold” – is really nothing more than a speculative bubble. The following analysis explains the key drivers behind the decline and asks how long investors can still be sold an stupid empty bag of hot air.Reasons for the DropRecord ETF Outflows and Corporate SellingOne major reason for the downturn was persistent outflows from U.S. spot Bitcoin exchange‑traded funds (ETFs). Data from Farside Investors showed that in the 13 trading days through 4 June, funds shed about $4.33 billion – roughly 60,000 BTC. On a 20‑day rolling basis the outflows rose to $5.42 billion (about 73,000 BTC), the largest disposition ever recorded. Such redemptions signal that institutional investors are cutting exposure, removing a significant support for the price.Sentiment was further dented by a sale from corporate Bitcoin cheerleader Strategy. The software company sold 32 BTC between 26 May and 31 May, raising about $2.5 million. Although tiny relative to its huge treasury, the transaction broke Strategy’s long‑standing “never sell” narrative and raised fears that large holders might become forced sellers.Leveraged LiquidationsThe steep price move triggered a major deleveraging known as a “leverage flush.” Within a single day between $1.6 billion and $1.8 billion of crypto positions were liquidated, including $735–800 million tied to Bitcoin long positions. Over the full week, liquidations reached about $2.1 billion. Because most were bullish bets, forced selling accelerated the downward spiral.Macro Headwinds and Risk AversionThe sell‑off unfolded against a broader risk‑off mood in financial markets. U.S. stock indices like the Nasdaq slumped as investors rotated from high‑growth stocks into safer assets. Rising rate expectations and geopolitical tensions added uncertainty. Bitcoin fell below its 200‑day moving average, a technical break that signals weakening momentum. Crypto fear‑and‑greed gauges plunged into “extreme fear” territory (13 points), while futures open interest dropped almost 16 % to $45.38 billion.Media Narratives and Loss of any ConfidenceMedia commentary magnified the perception of a bubble. A Forbes report noted that Bitcoin was down roughly 5.5 % on the week and that Strategy’s sale shattered the “never sell” meme. Nic Puckrin of Coin Bureau warned that $2.8 billion of cumulative ETF outflows and the actions of major holders left Bitcoin in an extremely weak setup. Such narratives eroded confidence and prompted more selling.Is Bitcoin Just stupid Hot Air?Bitcoin is often marketed as a store of value akin to gold, yet unlike gold it generates no cash flows or dividends and relies purely on investors’ faith. The abrupt end of the rally therefore raises a fundamental question: how long can investors be sold an empty bag of hot air?Critics argue that the price is driven chiefly by FOMO (fear of missing out), scarcity and a compelling story. Once institutional inflows dry up and leveraged bets unwind, the price may collapse quickly. Proponents counter that the blockchain technology underpinning Bitcoin is revolutionary and that long‑term use cases could emerge. For now, however, the fundamentals look weak and investor sentiment is decisive.

In New York, waiting in line becomes a social scene

In front of L'industrie Pizzeria, as at many other New York restaurants and shops, customers line up behind barriers -- in this case, all to grab a prized pizza slice.

Airlines gather in Rio to chart course as horizon darkens

Airline executives descend on Rio this weekend to weigh the prospects for an industry grappling with geopolitical turbulence, soaring fuel costs and travellers wary of chasing sky-high ticket prices.

Tech sell-off, rate-hike fears drive Wall Street plunge

Wall Street's key indices closed heavily in the red on Friday, hit by a massive sell-off in technology stocks following a recent surge driven by AI investment, and fears of US Fed rate hikes on the horizon.

Argentine rock legend Carlos 'Indio' Solari dies at 77

Carlos 'Indio' Solari, a towering figure in Argentine music known for his blend of hard rock and punk, died Friday at the age of 77, according to a police report seen by AFP.

Irish slump drags eurozone economy into red

The eurozone economy recorded an unexpected contraction in the first quarter, dragged down by a sharp fall in Irish gross domestic product -- a recurring distortion linked to the accounting practices of the many multinationals based in the country.

MEXC "Pizza Day: Urban Run" Draws Over 82,000 Participants and Rewards Nearly 75,000 Users

MEXC, a pioneer in 0-fee digital asset trading, has announced the conclusion of the "Pizza Day: Urban Run" event, which drew 82,398 participants and distributed rewards to 74,912 users. As the first featured experience under MEXC's "One Pizza, Infinite Opportunities" campaign, the initiative reflects MEXC's ongoing commitment to lowering barriers to crypto participation and delivering tangible value for users.

MEXC Lists YOM (YOM) with 200,000 YOM and 40,000 USDT in Airdrop+ Rewards

MEXC, a pioneer in 0-fee digital asset trading, has announced the listing of YOM (YOM) in the Innovation Zone. Spot trading for the YOM/USDT pair is now open as of June 5, 2026, at 10:00 (UTC). To celebrate the listing, MEXC has launched an Airdrop+ event with a reward pool of 200,000 YOM and 40,000 USDT.

Blockbuster US job gains ruffle Wall Street

Forecast-beating US jobs data rattled Wall Street on Friday as investors saw increased chances of an interest rate hike.

Strong US job growth beats expectations in May, firming recent gains

US job growth surged past expectations in May with the unemployment rate remaining steady, as the labor market in the world's largest economy showed signs of firming after months of turbulence.

Nvidia's Huang arrives in South Korea with 'surprises', bets on robotics

Nvidia chief executive Jensen Huang arrived in Seoul Friday for a packed schedule of meetings with tech leaders, promising "some surprises" for South Korea while predicting robotics will be the country's next major growth sector.

Irish slump drags eurozone economy into red in first quarter

The eurozone recorded an unexpected contraction in the first three months of 2026 due to a steep slump in Ireland's economic figures, according to revised data issued on Friday.

Oil dips, equities diverge on MIdeast, AI trades

Oil prices slipped and stock markets were mixed Friday as traders reacted to Mideast war developments and concerns over the AI sector.

Crypto scammers prey on French victims from Albania

Despite facing up to 10 years in jail on fraud charges for allegedly luring people into putting their savings into an Albania-based cryptocurrency investment scam, Jon shows zero remorse.

Asian stocks take another hit from AI, Mideast worries

Asian equities went into reverse Friday on continued worries about the AI trade after disappointing forecasts from chip titan Broadcom, while investors were also keeping a wary eye on stuttering Middle East peace efforts.

Patterson-UTI Reports Drilling Activity for May 2026

HOUSTON, TX / ACCESS Newswire / June 5, 2026 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of May 2026, the Company had an average of 92 drilling rigs operating in the United States. For the two months ended May 31, 2026, the Company had an average of 90 drilling rigs operating in the United States.

ACG Announces Results of Extraordinary General Meeting of Shareholders

BEIJING, CHINA / ACCESS Newswire / June 5, 2026 / ATA Creativity Global ("ACG" or the "Company", Nasdaq:AACG), an international educational services company focused on providing quality learning experiences that cultivate and enhance students' creativity, today announced that its 2026 Extraordinary General Meeting of Shareholders ("EGM") was held on Friday, June 5, 2026.

As the Looming Crisis Takes Hold, Jet Fuel Inventories Hit a 63-Year Low and Europe Faces Imminent Supply Failure, Genoil Inc. Offers the Only Viable Solution That Can Close the Gap

Proprietary Deep Conversion Upstream Specialized Refinery delivers up to 400%+ more transportation fuel per barrel - no new pipelines, no additional infrastructure required.

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