Oil prices took a breather on Friday, reversing course from their three-day rally, as US President Donald Trump hinted at the possibility of reaching a deal with Iran. Meanwhile, Brevan Howard Asset Management disclosed plans to wind down Fash Golchin's hedge fund and focus his attention on managing the firm's flagship strategy.
According to reports, Trump stated that Iran is interested in making a deal, dampening investor sentiment and causing a decline in crude oil prices. This contrasts with the previous stance of imposing additional sanctions against the Middle Eastern country. The West Texas Intermediate (WTI) crude oil futures dropped by 0.3% to settle around $64.87 per barrel, while Brent crude fell 0.4% to close at approximately $70.25 per barrel.
Brevan Howard Asset Management, a London-based hedge fund, revealed that it would return capital from Fash Golchin's hedge fund, which had been underperforming. Golchin will now concentrate on managing the firm's main fund, where he has demonstrated strong results.
In the financial markets, Tether, the world's largest stablecoin issuer, posted a $10 billion profit in 2025, down 23% from the previous year. Despite this decline, the company has initiated a fundraising process, positioning itself as one of the most valuable private companies.
Veradermics Inc., a biopharmaceutical firm specializing in hair restoration, is seeking to raise up to $213.6 million through an initial public offering (IPO). The funds will be utilized to commercialize its hair re-growth pill.
In agricultural news, the weak dollar, coupled with Trump's comments regarding biofuels, bolstered demand for crops. Wheat recorded its largest gain since November, with corn and soybeans also experiencing price increases in Chicago.
Elsewhere, Kuwait Petroleum Corporation expanded the remit of its Dubai-based energy trading arm six months after its creation. The Bank of Canada held interest rates steady but expressed uncertainty about the future rate path.
Unfortunately, some tragic events occurred, including a Russian drone strike on a crowded train in northeastern Ukraine, which resulted in the deaths of five people. Ethan Brown, a geography student, was denied a 2:1 degree due to an administrative error, and he later took his own life.
In the energy sector, Electricite de France SA will repair cracked pipes at its Civaux 1 nuclear reactor during a scheduled maintenance halt next year. A Russia-linked oil tanker lost control in the Mediterranean for the second time in under a week.
Children at a top private school attended by former prime minister Tony Blair in Edinburgh were subjected to decades of sexual and physical abuse, according to reports. Michelle Bowman, Vice Chair for Supervision at the Federal Reserve, expressed her reservations about further rate cuts given the elevated inflation and uncertainty regarding potential distortions in economic data.
Annington Funding faces an escalating dispute with some of its creditors over a potential default on £728 million ($1 billion) worth of debt. The African Export-Import Bank (Afreximbank) had its credit assessment downgraded to 'junk' status by Fitch Ratings following the termination of their relationship. Thomas Hoenig, former President of the Federal Reserve Bank of Kansas City, argued against the Federal Reserve cutting interest rates at the January meeting.
Sources:
Brevan Howard to Shut Golchin's Hedge Fund as Focus Turns to Main Fund
Oil Rally Runs Out of Steam After Trump Says Iran Wants a Deal
Tether’s Annual Profit Drops 23% In Midst of Fundraising
Hair-Loss Pill Maker Veradermics Seeks $213.6 Million in US IPO
When will it stop raining?
Passenger tells BBC of moment of Russian drone strike on crowded train
Crops Gain as Weak Dollar, Trump Biofuel Comments Bolster Demand
Kuwait Petroleum Expands Remit of New Energy Trading Division
Bank of Canada Holds at 2.25% as Uncertainty Binds Rate Path
Mum says university 'failed' son who took his own life after grade error
EDF to Repair Cracked Pipes at Civaux Nuclear Reactor Next Year
Russia-Linked Oil Tanker Loses Control Again in Mediterranean
Top private school 'failed to protect pupils' from sexual and physical abuse
Bowman Says Fed Can 'Afford to Take Time' With Rate Cuts
Kaba family 'devastated' as misconduct case paused
German Watchdog Sees Pension Fund Losses Outside Its Remit
Annington’s $1 Billion Debt Row Over Military Home Sale Deepens
Tielemans out until April as Villa injury woes mount
Fitch Cuts Afreximbank’s Rating to Junk After Lender Severs Ties
Fed Rate Cut Would Hurt Credibility, Thomas Hoenig Says
Oil prices took a breather on Friday, reversing course from their three-day rally, as US President Donald Trump hinted at the possibility of reaching a deal with Iran. Meanwhile, Brevan Howard Asset Management disclosed plans to wind down Fash Golchin's hedge fund and focus his attention on managing the firm's flagship strategy.
According to reports, Trump stated that Iran is interested in making a deal, dampening investor sentiment and causing a decline in crude oil prices. This contrasts with the previous stance of imposing additional sanctions against the Middle Eastern country. The West Texas Intermediate (WTI) crude oil futures dropped by 0.3% to settle around $64.87 per barrel, while Brent crude fell 0.4% to close at approximately $70.25 per barrel.
Brevan Howard Asset Management, a London-based hedge fund, revealed that it would return capital from Fash Golchin's hedge fund, which had been underperforming. Golchin will now concentrate on managing the firm's main fund, where he has demonstrated strong results.
In the financial markets, Tether, the world's largest stablecoin issuer, posted a $10 billion profit in 2025, down 23% from the previous year. Despite this decline, the company has initiated a fundraising process, positioning itself as one of the most valuable private companies.
Veradermics Inc., a biopharmaceutical firm specializing in hair restoration, is seeking to raise up to $213.6 million through an initial public offering (IPO). The funds will be utilized to commercialize its hair re-growth pill.
In agricultural news, the weak dollar, coupled with Trump's comments regarding biofuels, bolstered demand for crops. Wheat recorded its largest gain since November, with corn and soybeans also experiencing price increases in Chicago.
Elsewhere, Kuwait Petroleum Corporation expanded the remit of its Dubai-based energy trading arm six months after its creation. The Bank of Canada held interest rates steady but expressed uncertainty about the future rate path.
Unfortunately, some tragic events occurred, including a Russian drone strike on a crowded train in northeastern Ukraine, which resulted in the deaths of five people. Ethan Brown, a geography student, was denied a 2:1 degree due to an administrative error, and he later took his own life.
In the energy sector, Electricite de France SA will repair cracked pipes at its Civaux 1 nuclear reactor during a scheduled maintenance halt next year. A Russia-linked oil tanker lost control in the Mediterranean for the second time in under a week.
Children at a top private school attended by former prime minister Tony Blair in Edinburgh were subjected to decades of sexual and physical abuse, according to reports. Michelle Bowman, Vice Chair for Supervision at the Federal Reserve, expressed her reservations about further rate cuts given the elevated inflation and uncertainty regarding potential distortions in economic data.
Annington Funding faces an escalating dispute with some of its creditors over a potential default on £728 million ($1 billion) worth of debt. The African Export-Import Bank (Afreximbank) had its credit assessment downgraded to 'junk' status by Fitch Ratings following the termination of their relationship. Thomas Hoenig, former President of the Federal Reserve Bank of Kansas City, argued against the Federal Reserve cutting interest rates at the January meeting.
Sources:
Brevan Howard to Shut Golchin's Hedge Fund as Focus Turns to Main Fund
Oil Rally Runs Out of Steam After Trump Says Iran Wants a Deal
Tether’s Annual Profit Drops 23% In Midst of Fundraising
Hair-Loss Pill Maker Veradermics Seeks $213.6 Million in US IPO
When will it stop raining?
Passenger tells BBC of moment of Russian drone strike on crowded train
Crops Gain as Weak Dollar, Trump Biofuel Comments Bolster Demand
Kuwait Petroleum Expands Remit of New Energy Trading Division
Bank of Canada Holds at 2.25% as Uncertainty Binds Rate Path
Mum says university 'failed' son who took his own life after grade error
EDF to Repair Cracked Pipes at Civaux Nuclear Reactor Next Year
Russia-Linked Oil Tanker Loses Control Again in Mediterranean
Top private school 'failed to protect pupils' from sexual and physical abuse
Bowman Says Fed Can 'Afford to Take Time' With Rate Cuts
Kaba family 'devastated' as misconduct case paused
German Watchdog Sees Pension Fund Losses Outside Its Remit
Annington’s $1 Billion Debt Row Over Military Home Sale Deepens
Tielemans out until April as Villa injury woes mount
Fitch Cuts Afreximbank’s Rating to Junk After Lender Severs Ties
Fed Rate Cut Would Hurt Credibility, Thomas Hoenig Says
