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Real-time News
US Treasury Secretary Bessant: The Federal Reserve has a long way to go before returning to quantitative easing.On March 13, Irans Nokyo News Agency reported on March 12 that the Iranian Islamic Revolutionary Guard Corps (IRGC) announced that its navy had launched a fierce attack on the U.S. Navys Fifth Fleet base in Bahrain. According to a statement released by the IRGC, the navy conducted two rounds of operations that morning, using missiles and drones to launch a heavy attack on the U.S. Navys Fifth Fleet base in Salman, Bahrain. The bases anti-drone systems, unmanned surface vessel center, logistics and equipment center, fuel storage facilities, and areas where U.S. soldiers were concentrated were all subjected to "precision strikes."On March 13, Adobe (ADBE.O) announced that its CEO, Shantanu Narayen, will step down as head of the creative software giant. This move comes amid deep market skepticism about the companys ability to thrive in the age of artificial intelligence. The company also provided its sales forecast for the current quarter, which, while slightly above expectations, failed to alleviate investor concerns that the software maker is being overtaken by new competitors. The company said on Thursday that revenue for the quarter ending in May would be between $6.43 billion and $6.48 billion. Analysts average expectation was $6.43 billion. Excluding certain items, earnings per share would be between $5.80 and $5.85, while analysts average expectation was $5.70. Adobe (ADBE.O) shares fell about 6% in after-hours trading.On March 13, U.S. Treasury Secretary Bessant, when asked in an interview on Thursday whether there was a "price" that would prompt him to confront Trump and declare that the war with Iran was unsustainable, firmly replied, "Absolutely not." Earlier reports indicated that Trump administration officials estimated at least $11.3 billion had been spent in the first six days of the war with Iran during a congressional briefing this week.Market news: Meta Platforms (META.O)s large submarine fiber optic cable project in the Persian Gulf has been stalled due to the conflict with Iran.
