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FedExin Financial Markets
8 hours ago

FedEx mourns the passing of visionary founder Frederick W. Smith at 80, transitioning leadership to R. Brad Martin as investors weigh UBS's bullish outlook against broader concerns.

Financial Markets
Venezuela's second-largest refinery halted due to power blackout, sources say
negativeFinancial Markets
Venezuela's second-biggest oil refinery, Cardón, has ground to a halt after a major power outage knocked out operations, according to insider sources. This isn't just a temporary hiccup—it’s another blow to the country’s struggling oil industry, which has been plagued by years of underinvestment and mismanagement. With fuel production disrupted, locals could face even tighter supplies in a country already dealing with chronic shortages.
Editor’s Note: Venezuela’s oil industry is barely limping along, and this blackout is another setback. When refineries stop working, it doesn’t just hurt the economy—it hits everyday people who rely on gasoline and other fuels. Given how much Venezuela depends on oil revenue, this kind of disruption makes an already dire situation worse. Keep an eye on this—if power issues keep happening, the ripple effects could spread beyond the energy sector.

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