Global oil demand is set to decline this year for the first time since the height of the COVID-19 pandemic in 2020, according to a report from the International Energy Agency. The drop, which the agency expects to amount to about 1 million barrels per day in 2026,

Global oil demand is set to decline this year for the first time since the height of the COVID-19 pandemic in 2020, according to a report from the International Energy Agency.

The blockade of the Strait of Hormuz has lowered oil demand. In some nations, there is no option or alternative to cut back on use. The question is, will demand ever bounce back? SponsorFind a Vetted

According to the AP report, global oil consumption in May fell by 5.3 million bpd from a year earlier to an average of 97.9 million barrels per day.

The South Korean chip maker is set to list on Nasdaq, after raising $26.51 billion from a sale of American depositary receipts.

Shares of South Korean memory chipmaker SK Hynix rose 12.8% as they made their debut on Wall Street, at a time when demand for chips is surging thanks to the frenzy around artificial intelligence. The company is already one of the largest in South Korea,

Investing in SK Hynix is now easier for U.S. investors, but that doesn't automatically mean it's worth owning a piece of the company.

Shares of South Korean memory chipmaker SK Hynix rose 12.8% as they made their debut on Wall Street, at a time when demand for chips is surging thanks to the frenzy around artificial intelligence.

British airline EasyJet said on Friday it is considering a takeover bid worth $7.7 billion from U.S. investment firm Apollo Global Management.

U.S. investment firm Apollo Global Management announced a £5.7 billion ($7.7 billion) bid for easyJet on Friday, trumping a rival offer from Castlelake and setting up a potential takeover battle for one of Europe's biggest airlines.

British budget airline EasyJet says it's reached an agreement in principle for a £5.7-billion ($7.7-billion) takeover by U.S. private equity firm Apollo, topping a rival offer from fellow American private equity investor Castlelake​.

Shares in EasyJet jumped after the U.K. budget carrier agreed to a $7.6 billion takeover bid from Apollo, withdrawing its backing for an offer from Castlelake. EasyJet shares rose 13%

Circle Internet Group Inc. received approval to start a national digital-currency trust bank to support its stablecoin business, widening its remit to include institutional custody services while consolidating oversight under a single federal trust charter.

Circle said on Friday it has received a final regulatory approval from the U.S. Office of ​the Comptroller of the Currency to establish a ‌national trust bank, sending the stablecoin giant's shares surging 10% in premarket trading.

CNBC's Tanaya Macheel joins 'Closing Bell' with news on Circle.

The company said the bank will initially serve Circle and its affiliates before potentially expanding services to financial institutions.