Zohran Mamdani has won the New York City mayoral election, against veteran politician Andrew Cuomo and Republican candidate Curtis Sliwa. While there were three candidates, it was widely considered a battle between Mamdani, a Democratic socialist, and the disgraced former New York governor Cuomo, who Mamdani beat in the primary as well. Despite running as a Democrat, Cuomo received endorseme
Re-live our live blog coverage of earnings season! This is the time of year when publicly traded companies report their financial results, giving investors and analysts a glimpse into their performance and future outlook. We'll bring you real-time updates, analysis, and commentary on the latest earnings reports from major companies across various sectors. Stay tuned as we break down the numbers
Two senior Wall Street bankers have sounded a warning that United States stock markets may be overvalued. The comments attributed to Morgan Stanley CEO Ted Pick and Goldman Sachs CEO David Solomon indicated they were concerned the ongoing rally in U.S. stocks may result in ‘drawdowns’. They were speaking at the Global Financial Leaders' Investment Summit in Hong Kong on Tuesday. “We shoul
The Australian sharemarket extended losses on Wednesday, weighed down by sharp declines in mining and technology stocks as investors grappled with renewed inflation concerns and an overnight tech selloff on Wall Street. Traders continued to pare back bets on further interest rate cuts this cycle after Reserve Bank of Australia Governor Michele Bullock cautioned on Tuesday that inflationary pres
AMD posted a record third-quarter revenue of US$9.25 billion, climbing 36% year-over-year on surging demand for its EPYC server processors and Instinct AI accelerators. The chipmaker reported diluted earnings per share of $1.20 on a GAAP basis, a beat of 3 cents, while revenue also comprehensively exceeded the $8.74 billion expected by Wall Street. GAAP net income jumped 61% to $1.24 billion
Qantas is celebrating the launch of its newest aircraft today, with its first two next-generation Airbus A321XLR aircraft taking off this morning for their first commercial flights. The two A321XLR aircraft, 'Great Ocean Road' (VH-OGA) and 'Outback Way' (VH-OGB), are operating their inaugural commercial services between Sydney and Melbourne and Sydney and Perth respectively. Qantas is the first airline in the Asia Pacific region to fly the new aircraft type, and the fourth airline globally. The A321XLR features a wider and longer cabin than previous generation narrowbody aircraft, with wider seats, higher ceilings, larger windows, fast and free Wi-Fi and space for around 60 per cent more bags than Qantas' Boeing 737s. The A321XLR use less fuel per seat than the 737 it replaces
QANTAS
Mascot, AustraliaThe latest CommBank View examines the shifting forces and underlying tensions shaping Australia’s economy, global markets, and the outlook for 2026. The Australian economy is at a crossroads heading towards 2026. There are a range of potential domestic and international scenarios that could rapidly shift the outlook. But CBA economists are still predicting a final RBA interest rate cut early in the year.
Commonwealth Bank of Australia
AustraliaThe Australian Prudential Regulation Authority (APRA) has determined that Westpac Banking Corporation (Westpac) has completed a multi-year risk transformation program required by APRA and, consequently, APRA will remove the remaining $500 million capital add-on applied to Westpac. Following an APRA investigation in 2020, Westpac entered a Court Enforceable Undertaking (CEU) with APRA in December 2020 where it committed to remediating specific prudential weaknesses identified by APRA in its culture, governance and accountability, and address the root causes of these issues. In response, Westpac established the Customer Outcomes and Risk Excellence (CORE) Program and appointed an independent reviewer.
Australian Prudential Regulation Authority
Canberra, Australian Capital TerritorySQC quantum reservoir delivers deep learning performance with reduced training time and hardware demands. Telstra and Silicon Quantum Computing (SQC) today announced results from a joint initiative taking quantum computing out of the lab and into the telecommunications industry – marking a new milestone in Australia’s journey towards quantum-enabled digital infrastructure. Over 12 months a Telstra-SQC team explored how quantum machine learning could enhance Telstra’s response to a complex challenge in connectivity: predictive analytics. Advances in predictive network analytics have the potential to reshape customer experiences, from pre-empting and resolving network issues, to powering personalised services like dynamic bandwidth upgrades responding to real-time demand. Today, Telstra uses a combination of machine learning and AI to help predict network performance and detect changes in network patterns. These systems analyse metrics like latency and bandwidth to predict potential variances.
Telstra
Melbourne, Victoria
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Food aid benefits will resume partially in the United States, but with delays of weeks or even months expected for some states. The food aid program known as Supplemental Nutrition Assistance Program (SNAP) was halted for the first time ever by the Trump administration last week, leaving millions of Americans with serious concerns about their ability to access groceries. The U.S. Department
Amazon-backed electric aircraft company, Beta Technologies, closed up 6% at US$36 per share in its NYSE debut. The company priced shares in its IPO at $34, surpassing expectations of $27 to $33. In its stock market debut, the company managed to sell 29.9 million shares, raising more than $1 billion at a valuation of $7.4 billion. Beta Technologies' public debut is an achievement for found
Housing values growth in Australia has surged to its fastest pace in over two years. National dwelling values have surged 1.1% in October, marking the fastest monthly gain since June 2023 and pushing the annual growth rate to 6.1%. This comes as momentum has been growing since the first interest rate cut in February. Cotaility research director, Tim Lawless, said prior to the February rat
Coinciding with the ongoing United States government shutdown, which has disrupted the release of key labour data, the latest update from job search platform Indeed reveals that employment prospects fell sharply in October, reaching their weakest point since February 2021. Typically, the Bureau of Labor Statistics (BLS) would have released its Job Openings and Labor Turnover Survey (JOLTS) this
Whether it’s a byproduct of geopolitical tensions, macroeconomic instability, or simply reflects the frazzled state of investors groping for greater portfolio resilience amid unprecedented market uncertainty, hedge funds are again on the rise. After a period of muted flows, hedge funds have witnessed a resurgence of investor interest, with global assets under management (AUM) recently reaching
