United States President Donald Trump said Monday (Tuesday AEST) he has postponed a planned military strike on Iran after requests from key Middle Eastern allies seeking more time for negotiations aimed at ending the conflict. In a post on Truth Social, Trump said he had instructed U.S. military leaders that “we will NOT be doing the scheduled attack of Iran tomorrow” following appeals from Qata
New Yorkers dealt with massive travel disruptions amid a historic strike of rail workers, but it appears there may be a light at the end of the tunnel. “It’s much more promising today than it was yesterday,” James Louis, vice president of the Brotherhood of Locomotive Engineers, told CNN about the state of the talks Monday. The BLET is one of five unions with members on strike. The strike st
OpenAI has cleared another hurdle in its path toward a possible US$1 trillion initial public offering (IPO) with a jury ruling against Elon Musk in his lawsuit against the artificial intelligence (AI) company he jointly founded in 2015. In a unanimous verdict, a federal court jury in California found Musk filed his claims too late under the statute of limitations, ending a three-week trial that
Kevin Warsh will be sworn in to lead the Federal Reserve by President Donald Trump on Friday. Warsh was Trump’s top pick for the job and will succeed Jerome Powell, whose term expires Friday. Powell intends to remain on the Board of Governors until he is satisfied that a Trump administration criminal probe of him is fully wound down. Powell was sworn in as temporary chair on Friday to b
The return on a median growth superannuation fund return so far in the 2026 financial year (FY26) was 6.4% after a rebound in global share markets in April, Chant West said. The research, data and analytics provider said the balance of a median growth fund (61–80% invested in growth assets) rose 2.6% in April, recouping a significant portion of the 3.2% loss in March. Chant West said interna
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United States Treasury yields were little changed on Monday as investors paused following last week’s sharp global bond selloff that pushed borrowing costs significantly higher across major economies. The benchmark 10-year U.S. Treasury yield, a key measure for government borrowing costs and broader financial markets, ticked 0.3% lower to 4.585% after earlier touching its highest level in 15 mo
Gold shed another leg as rising bond yields and a stronger dollar erased the safe-haven bid, copper pulled back from its COMEX record to US$12,000 per tonne, and the Hormuz oil shock quietly crossed a milestone markets have been slow to price - cumulative output losses closing in on one billion barrels. Energy and base metals kept absorbing the Gulf conflict's fallout, with the Strait closure h
Finance ministers from the Group of Seven developed economies are set to meet in Paris this week as the world grapples with the economic consequences of the war in Iran. President of the Eurogroup, Kyriakos Pierrakakis, is among those travelling to the meeting and said the situation in the Middle East highlights how exposed our interconnected economies are to external shocks. “Opening the St
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
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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