Two oil tankers carrying Saudi crude to Asia reversed course in the Red Sea on Tuesday after threats from Yemen's Iran-aligned Houthis, as the widening conflict in the Middle East disrupted shipping through two of the world's most important energy chokepoints. Overnight, United States forces struck targets in southern and western Iran, while Tehran launched attacks on U.S. facilities in Bahrain
General Motors lifted several of its key 2026 financial forecasts on Tuesday after reporting stronger-than-expected second-quarter earnings, with robust North American operations continuing to underpin the automaker's performance. The company attributed its improved outlook to stable vehicle transaction prices, lower warranty costs and narrowing losses in its electric vehicle business as it com
Super Micro Computer (NASDAQ: SMCI) surged 7.0% to close at US$25.50 during Tuesday's United States deals, before rallying a further 19% in extended trade after disclosing it collected more than $60 billion in new orders during Q4, a haul that dwarfs the backlog investors had priced in ahead of formal earnings. The company also lifted its gross margin outlook to a range of 15% to 17%, nearly do
Wall Street's major indexes closed higher on Tuesday (Wednesday AEST), led by the Nasdaq, as a rebound in semiconductor stocks helped investors look beyond the latest Middle East tensions and renewed tariff concerns ahead of a pivotal week of technology earnings. The Dow Jones Industrial Average rose 385.4 points, or 0.7%, to 52,224.6. The S&P 500 gained 65.9 points, or 0.9%, to 7,509.2, while
OpenAI has appointed two veteran financial services executives to its nonprofit and for-profit boards of directors, strengthening its leadership as the artificial intelligence company moves closer to a potential initial public offering. David Vélez, chief executive of Latin America's largest digital bank Nubank, and Robin Vince, chief executive of financial services company BNY, have joined the
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Paramount's multibillion-dollar deal to take over Warner Brothers has been put on pause by a federal judge. The acquisition, valued at US$110 billion, has been halted until 3 August, following the ruling from U.S. District Judge Araceli Martínez-Olguín. It comes as a result of a multi-state coalition, led by California, that the deal would cause irreversible harm to the media landscape, comp
Andy Burnham was formally appointed as Britain's prime minister on Monday, meeting King Charles III hours after Sir Keir Starmer resigned at the same palace. The handover made Burnham, the former mayor of Greater Manchester, the United Kingdom's seventh prime minister in a decade, extending a churn that has defined British politics since 2016. Speaking outside 10 Downing Street without the l
Domino's Pizza reported second-quarter revenue that narrowly exceeded Wall Street expectations on Monday, as strong growth in its supply chain business helped offset weaker restaurant demand amid cautious consumer spending. Shares of the pizza chain, which had fallen about 23% so far this year, closed 2.1% higher following the results. Quarterly revenue increased 4.3% from a year earlier to
United States consumer sentiment climbed to a five-month high in July, though the improvement may prove short-lived as renewed conflict in the Middle East pushes fuel prices higher and threatens to weigh on household confidence. The University of Michigan's Surveys of Consumers said its Consumer Sentiment Index rose to 54.4 in July, the highest reading since February, from a final reading of 49
Beijing-based Moonshot AI unveiled Kimi K3 on 17 July, a 2.8 trillion-parameter open-weight model the company says matches or beats several leading American systems, at a fraction of the price. The release landed on the eve of Shanghai's World Artificial Intelligence Conference. Moonshot, backed by Alibaba Group Holding and Tencent Holdings, built K3 as the flagship of a three-tier lineup th
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