The United Arab Emirates (UAE) and Saudi Arabia reported separate drone incidents over the weekend, as United States President Donald Trump warned Iran that the “clock is ticking” after talks aimed at ending the regional conflict stalled. A drone strike caused a fire at the Barakah Nuclear Power Plant in the UAE, officials said in a post on X, while Saudi Arabia reported intercepting three dron
United States industrial production rose by the most in more than a year in April, signalling growing momentum in the sector despite mounting cost pressures linked to tariffs and the Iran conflict. Output at factories, mines and utilities increased 0.7% in April, following a revised 0.3% decline in March, according to Federal Reserve data released Friday. The result exceeded market expectati
The world's largest asset manager, BlackRock, is reportedly in discussions to commit as much as US$10 billion (A$13.99 billion) to what would become the largest stock market listing on record. BlackRock has discussed investing between $5-10 billion in SpaceX's initial public offering (IPO), according to a report published Saturday by The Information, citing people familiar with the matter. T
New York’s rail network is facing significant disruption as workers on the Long Island Rail Road (LIRR) continue their strike into a third day, affecting hundreds of thousands of commuters ahead of the Monday morning rush. Unions representing New York’s LIRR launched the strike over the weekend after failing to reach a deal with rail management over pay and work rules. The strike has already
Publicis Groupe SA has agreed to buy United States data collaboration company LiveRamp Holdings Inc for an enterprise value of about US$2.2 billion (A$3.08 billion). The global advertising, public relations and technology communications company will pay $38.50 in cash per share, representing a 29.8% premium to LiveRamp’s closing share price on 15 May. Publicis said the acquisition expanded i
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When Nine Entertainment secured the broadcast rights for National Rugby League (NRL) matches in 2021, the company was valued at A$5 billion (US$3.6 billion). Fast forward more than five years and the media group’s market capitalisation has plunged to $1.55 billion and it is being warned not to overpay in the next round of bidding for one of Australia’s marquee sports rights packages. Austral
Donald Trump arrived in Beijing on Thursday for his first China visit since 2017, accompanied by 17 chief executives, including Tesla's Elon Musk, Nvidia's Jensen Huang, Apple's Tim Cook and Boeing chief Kelly Ortberg. Xi Jinping told the assembled execs that China's door would "open wider" to U.S. companies, with Xinhua reporting American firms stood to "enjoy even broader prospects in China",
The U.K. economy grew 0.6% in the first quarter of 2026, according to figures from the Office for National Statistics. This matches Reuters’ expectations for the period and follows revised growth of 0.2% in the fourth quarter. Director of economic statistics Liz McKeown said wholesale, computer programming and advertising performed particularly well, and that production also grew slightly.
Honda has posted an annual loss for the first time in its nearly 70-year history and has scrapped its long-term EV sales target. This comes after the automaker was hit by more than US$9 billion in costs to restructure its electric-vehicle business. It also marks its worst financial report since Honda was listed on the stock market in 1957, underscoring how risky an aggressive bet on EVs can
United States retail sales increased for a third consecutive month in April, supported by larger tax refunds and strong stock market gains, although economists warned rising inflation pressures could weaken consumer spending later in the quarter. Data released on Thursday showed part of the increase in spending reflected higher prices following the escalation of the U.S.-Israel conflict involvi
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