Intel Appoints Lip-Bu Tan As CEO | Oil Falls As Tariff Fears Hit Demand Outlook | The World Report
Intel has appointed chip industry veteran Lip-Bu Tan as its new CEO, effective March 18. The decision comes three months after the company ousted Pat Gelsinger amid concerns over its turnaround strategy. Tan, a former board member and longtime tech investor, aims to restore Intel’s global standing. Following the announcement, Intel’s stock surged 12% in extended trading. In another development, Oil prices edged lower on Thursday as worries over escalating tariff wars dampened investor sentiment, outweighing the impact of a larger-than-expected draw in U.S. gasoline stocks. Brent crude slipped to $70.88 per barrel, while U.S. crude futures fell to $67.57. The drop follows a brief rally after U.S. data showed tighter-than-expected oil and fuel inventories. Watch The World Report for the latest updates.
