Bridgewater founder Ray Dalio says the global economy is teetering on the edge of capital warfare, with money set to become the next geopolitical weapon. Speaking at the World Governments Summit in Dubai, the billionaire investor warned that escalating tensions over Trump's Greenland ambitions have pushed nations dangerously close to weaponising their financial systems. "We are on the brink,
Walmart has crossed the US$1 trillion (A$1.426 trillion) market cap threshold, joining an exclusive club typically occupied by big tech firms like Nvidia and Alphabet. At the end of Tuesday, the largest grocer in the United States reached a market cap of US$1.02 trillion while shares closed 3% higher at US$121.71. According to TradingView, shares for the company have risen 31.97% over the pa
Super Micro Computer issued stronger-than-expected guidance after its revenue surged last quarter, sending shares up 6.9% in after-hours trading. Net sales were US$12.68 billion, up from $5.68 billion year-over-year and passing Zacks estimates by 21.4%. Earnings per share were $0.69, rising from $0.61 and above estimates of $0.49. “With our leading AI server and storage technology foundation
Disney has named Josh D'Amaro as it's new CEO, as Robert ‘Bob’ Iger steps down to retire after nearly 20 years in the role. D'Amaro currently serves as Disney Experiences Chairman, overseeing theme parks, resort hotels and cruise ships, and has worked for the company for 28 years. He will step into his new role at the helm of the mega successful, multibillion dollar company, with 185,000 emp
United States President Donald Trump has signed a roughly US$1.2 trillion (A$1.711 trillion) spending package to end the partial U.S. government shutdown, hours after the House of Representatives passed the measure in a bipartisan vote. The House narrowly approved the bill 217–214 earlier on Tuesday, following Senate passage last week. Much of the federal government had been shuttered since Sat
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The United States military has shot down an Iranian drone that flew towards the USS Abraham Lincoln in the Arabian Sea, according to U.S. Central Command. The U.S. military said the Iranian Shahed-139 drone approached the USS Abraham Lincoln “aggressively” and “with unclear intent”. "An F-35C fighter jet from Abraham Lincoln shot down the Iranian drone in self-defence and to protect the airc
The federal government has agreed to sell off A$3 billion in defence properties around the country, in the largest military sell-off in Australian history. Some of the sites up for grabs include Victoria Barracks in Sydney, Melbourne and Brisbane, along with dozens of inner-city training depots and barracks across the country. This followed a multi-year audit that was tasked with identifying
Nintendo recorded a massive rise in revenue on Tuesday as the Nintendo Switch 2 became the fastest-selling console it ever released. The gaming giant’s revenue rose 86% year-over-year to 806.32 billion Japanese yen (US$5.2 million). Despite this jump, it still fell short of the 847.73 billion yen expected by analysts. However, net profit managed to jump 24% year-over-year to 159.93 yen an
Electronic Arts reported lower profit during its third quarter, despite a rise in revenue. The gaming company reported net income of US$88 million, or 35 cents per share, which was a drop from last year’s $293 million or $1.11 per share. This was driven by a rise in net bookings, which rose 38% to US$3.046 billion. Despite the drop in income, the company reported a 1% increase in revenue
PepsiCo beat earnings and revenue estimates last quarter, and plans to lower prices this year to boost its growth. Revenue was up 5.6% to US$29.34 billion, and above LSEG estimates of $28.97 billion. Earnings per share rose 11% to $2.26, besting estimates of $2.24. “PepsiCo’s fourth quarter results reflected a sequential acceleration in reported and organic revenue growth, with improvements
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