A ceasefire that had held for barely three weeks effectively collapsed this week, with Iran striking commercial tankers in the Strait of Hormuz and Washington hitting back with fresh air strikes. Brent crude jumped more than 5% in a single session, just as Tehran buried its assassinated Supreme Leader - market ructions that landed in the middle of a second, equally consequential story in tech.
Federal Reserve Chair Kevin Warsh on Thursday announced the members of five new task forces that will review key aspects of the United States central bank's monetary policy framework, bringing together leading economists, business executives and former central bank officials. Warsh first revealed plans for the review last month, saying the task forces would assess the Federal Reserve's communic
China spent the trade truce quietly building an enforcement machine - a bounty hotline, detained foreign nationals and a company chairman in custody - just as a November deadline that could reactivate its export controls draws closer. On 1 July, with little fanfare, China's commerce ministry switched on a mechanism that pays informants to report anyone smuggling strategic minerals or dodging it
Iran launched attacks on United States military infrastructure across the Gulf on Thursday following American strikes on Iranian territory, further undermining a fragile three-week-old ceasefire and raising fears of a renewed regional conflict. Iranian state media later reported multiple explosions in southern Iran, including in Bushehr, home to one of the country's nuclear power plants, as wel
The state of New York has sued some of the world's largest chemical manufacturers for allegedly exposing consumers to toxic "forever chemicals" for decades while concealing the risks and contributing to widespread environmental contamination. New York Attorney General Letitia James filed the lawsuit in the New York State Supreme Court, naming 3M (NYSE: MMM), DuPont de Nemours (NYSE: DD), Chemou
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Levi Strauss shares fell sharply in after-hours trading on Wednesday (Thursday AEST) despite the denim retailer delivering better-than-expected quarterly results, raising its full-year outlook and increasing its dividend. The company reported adjusted earnings per share (EPS) of $0.28, beating market expectations of $0.24, while revenue came in at $1.56 billion compared with forecasts of $1.52
A bipartisan housing affordability bills remains in limbo in the United States. President Donald Trump is refusing to sign the 21st Century ROAD to Housing Act, which is looking to increase residential development and bring new affordability to the housing market. The bill passed both the Senate and House of Representatives with an overwhelming majority and was the first significant housing
Australian superannuation funds have delivered strong returns for the fourth consecutive year despite month-to-month volatility and due mainly to the United States and other international sharemarkets, according to SuperRatings. The superannuation research house estimated the balance of a median balanced option in the accumulation phase delivered a return of 9.1% in the year to 30 June 2026 aft
Apple Inc has unveiled a new multiyear agreement with longtime chip supplier Broadcom Inc worth more than US$30 billion (A$43 billion). The deal deepens the iPhone maker’s investment in U.S. semiconductor manufacturing and is the largest commitment under its American Manufacturing Program (AMP) initiative to lift production in the United States of key Apple components. Under the agreement an
Federal Reserve officials were divided over the direction of United States interest rates at their June policy meeting, with policymakers debating whether easing inflation could justify rate cuts or whether persistent price pressures would require further tightening, according to minutes released on Wednesday (Thursday AEST). The 16-17 June meeting was the first chaired by Federal Reserve Chair
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