Key global financial news stories from the past 24 hours include:
1. US Sends Envoys to Pakistan as Iran Downplays Talks 2. US and EU Forge Agreement on Critical Minerals 3. Intel Soars 24%, Marking Best Single-Day Gain Since 1987 4. Google Plans Up to $400 Billion Investment in Anthropic to Boost Computing Power 5. S&P Downgrades Belgium's Rating as it Tops Eurozone Deficit List 6. Fed Chair Powell's Term Nears End; Board Role Decision Looms
**US Sends Envoys to Pakistan as Iran Downplays Talks** Reports indicate the United States is dispatching two envoys to Pakistan for discussions involving Iran. Concurrently, Tehran has expressed a more pessimistic outlook regarding the potential for further negotiations. The envoys, reportedly including Jared Kushner, are expected to meet with Iran's foreign minister this weekend. However, an Iranian news agency has stated that no such meeting is scheduled during the foreign minister's visit.
**US and EU Forge Agreement on Critical Minerals** The United States and the European Union have established a cooperative agreement focused on securing supplies of critical minerals and strengthening related supply chains. This initiative aims to reduce reliance on specific resources, including rare earth elements and permanent magnets. The agreement outlines collaboration on measures such as setting price floors and subsidies to develop the critical minerals market among participating nations. Implementation will be handled by the U.S. Trade Representative and the European Commission's Directorate-General for Trade.
**Intel Soars 24%, Marking Best Single-Day Gain Since 1987** Shares of Intel surged 24% on Friday, achieving their largest single-day percentage increase since October 1987. The rally was fueled by investor optimism surrounding recovery signs driven by growing artificial intelligence demand. The stock closed at $82.57, bringing its year-to-date gain to 124%, following an 84% increase throughout 2025. Friday's performance surpassed a previous 23% gain recorded in September. Under CEO Liwu Chen, who assumed the role last year, the chipmaker has reignited Wall Street interest by securing investments and positioning the company to capitalize on the AI boom.
**Google Plans Up to $400 Billion Investment in Anthropic to Boost Computing Power** Alphabet's Google is set to invest $100 billion in Anthropic PBC, with the potential for an additional $300 billion investment. This move reinforces the complex relationship between the two companies, which involves both collaboration and competition. Anthropic stated that Google has committed to an immediate $100 billion cash investment, valuing the company at $3.5 trillion, consistent with its valuation from a February funding round. Google could invest a further $300 billion upon Anthropic meeting certain performance milestones, supporting a significant expansion of its computing capacity. This funding push follows the breakthrough success of Anthropic's Claude Code AI agent and comes shortly after the company secured a separate $50 billion investment from Amazon.com.
**S&P Downgrades Belgium's Rating as it Tops Eurozone Deficit List** S&P Global Ratings has downgraded Belgium's credit rating, marking the second downgrade for the country within a week. Belgium currently holds the highest budget deficit as a percentage of GDP in the eurozone. S&P lowered the rating by one notch to AA-, with a stable outlook. The agency cited "significant fiscal challenges," including an expanded deficit for 2025 and a slow, potentially difficult-to-implement fiscal consolidation plan for 2026-2029. S&P projects that Belgium's government net debt will rise from 103% of GDP in 2025 to 109% by 2029, with corresponding increases in interest expenses.
**Fed Chair Powell's Term Nears End; Board Role Decision Looms** Federal Reserve Chair Jerome Powell's tenure as head of the central bank may be entering its final weeks. Following a recent decision by the Justice Department, he now faces a choice regarding whether to remain on the Fed's Board of Governors. A U.S. Attorney announced the referral of a criminal investigation concerning Fed headquarters renovations to the central bank's internal inspector general, effectively pausing the Justice Department's involvement. While Powell had previously committed to staying until the investigation was resolved, its current status presents him with the option to follow historical precedent by departing the Fed or to complete the remaining two years of his term as a board member.
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