Iran's Strait of Hormuz crisis swung from near-collapse on Monday to cautious deal optimism by Thursday, pulling oil, equities, central bank decisions and Australia's trade account through the same violent arc. The AI earnings machine ran hot in parallel, with AMD surging 16.5% after hours on Wednesday, Palantir posting its best-ever growth rate, and Anthropic quietly passing OpenAI on revenue
Airbnb reported mixed results amid regional weakness spurred by the war in Iran. Revenue in the first quarter rose 18% to US$2.68 billion, surpassing expectations of $2.62 billion. Net income grew to $160 million, or 26 cents per share, from $154 million or 24 cents per share, the same time last year. Despite this growth, earnings per share missed estimates of 29 cents per share. The c
Shell has more than doubled its quarterly earnings, posting US$6.9 billion for Q1 2026, as higher realised prices and strong trading results offset a massive working capital outflow. The $11.2 billion working capital drag - tied directly to unprecedented commodity price volatility flowing from the Hormuz crisis - suppressed cash flow from operations to $6.1 billion for the quarter. Upstream
Iran said it is still reviewing a new United States peace proposal delivered through Pakistani mediators, as tensions escalated again in the Strait of Hormuz despite ongoing efforts to negotiate an end to the conflict. Iranian state media on Thursday cited Ministry of Foreign Affairs spokesman Esmaeil Baqaei as saying Tehran was “currently reviewing” messages from Washington but had not yet rea
McDonald’s reported earnings and revenue ahead of market expectations, but warned that consumer spending conditions may be deteriorating further as higher fuel prices linked to the Iran conflict place additional pressure on lower-income households. Adjusted earnings per share (EPS) came in at US$2.83, ahead of analyst estimates of $2.74, while revenue rose 9% to $6.52 billion, surpassing expect
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Blackstone Secured Lending Fund (BXSL) has reported a 2.4% decline in net asset value (NAV) per share to US$26.26 for Q1 2026, while BlackRock TCP Capital Corp recorded a sharper 5% fall to $6.72, with both funds attributing the markdowns to deteriorating loans across their enterprise software holdings. A day earlier, two Blue Owl Capital funds posted their own NAV cuts, and in February Blue Ow
Mortgage rates continued to climb even higher last week, causing current and potential homebuyers to retreat from the market. According to the Mortgage Bankers Association’s seasonally adjusted index, total mortgage application volume fell 4.4% compared to the week before. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $832,750 or less, inc
Nissan is set to cut back its European workforce by 10%, as part of an ongoing restructuring. The job cuts will total around 900, across both warehouse and production roles and white-collar roles. Production will also be combined from two lines into one at the Sunderland, United Kingdom plant, following the 2020 closure of its main factories in Barcelona, which impacted around 3,000 jobs.
Marriott International beat earnings and revenue estimates last quarter, and has lifted its guidance despite travel disruptions in the Middle East. Earnings per share were US$2.72, up from $2.32 one year ago and above the Zacks consensus estimate of $2.58. Revenue increased 6% to $6.65 billion, surpassing estimates by 0.90%. “We delivered excellent first quarter results, reflecting the stren
Australia recorded an unexpected trade deficit in March, marking the country’s first monthly trade gap in more than seven years as exports weakened and imports surged on strong demand for technology equipment and fuel products. Data released by the Australian Bureau of Statistics (ABS) on Thursday showed Australia posted a trade deficit of A$1.84 billion in March, significantly below market exp
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