United States President Donald Trump has declared that the Iran war is “very close to over”, expressing confidence that Tehran is eager to reach a peace agreement and predicting a strong rally in financial markets once the conflict concludes. Speaking in a prerecorded interview on Fox Business Network’s Mornings with Maria, Trump said: “We’ve beaten them militarily, totally. I think it’s close
United States Treasury Secretary Scott Bessent said the economy will be slower this quarter due to the war in Iran, but it is in good shape to rebound. In an interview with CNBC, Bessent said while oil prices have risen, he doesn’t expect the war to greatly impact inflation. He also said he expects gas prices to decline. “I think the gas prices will start coming down pretty quickly,” he s
Semiconductor equipment supplier ASML beat earnings and revenue estimates last quarter, but shares fell amid newly-proposed export controls on chip sales to China. Net sales were EU€8.77 billion, up from €7.74 billion year-over-year and above LSEG consensus estimates of €8.5 billion. Net income was €2.76 billion, rising from €2.36 billion and surpassing estimates of €2.5 billion. “The semico
Bank of America surpassed earnings and revenue estimates last quarter, buoyed by surging equities trading activity. Earnings per share increased 25% year-over-year to US$1.11, above LSEG consensus estimates of $1.01. Revenue rose 7% to $30.43 billion, beating estimates of $29.93 billion. “Earnings per share rose 25% year-over-year, starting 2026 with strong momentum. Net income of $8.6 billi
Australia’s unemployment rate remained at 4.3% in March as full-time employment rebounded, the Australian Bureau of Statistics (ABS) said today. The unemployment rate matched Westpac estimates. The total number of employed Australians climbed to 14,762,800 during the month. “The number of employed people rose by 18,000 and the number of unemployed people fell by 4,000 in March,” said ABS hea
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A Manhattan federal jury found Ticketmaster owner Live Nation guilty of having a harmful monopoly over big concert venues. The jury deliberated for four days before reaching a decision that dealt a loss to the company over claims brought by dozens of U.S. states. Live Nation Entertainment owns, operates, controls booking for or has an equity interest in hundreds of venues, with its booking p
United Kingdom finance minister Rachel Reeves slammed United States President Donald Trump’s war on Iran, describing it as a “mistake” that has had significant negative impacts on the global economy and living standards around the world. Reeves criticised Trump’s handling of the conflict, saying that the aims of the war were “not clear: and had shifted between regime change, protecting partners
Australian’s wealthiest person, Gina Rinehart, has claimed victory in a long-running court case over the rights to hundreds of millions of dollars of iron ore in Western Australia that ensnared mining giant Rio Tinto and other parties. Rinehart, through her privately-owned Hancock Prospecting Pty Ltd (HPPL), said the Western Australian Supreme Court decision decisively confirmed its rightful ow
Hermes shares tanked following an earnings report that disappointed investors amid the conflict in the Middle East, hitting luxury sales. The group's consolidated revenue amounted to EU€4.07 billion in Q1, increasing 6% from the same time last year. Despite the growth, this still fell short of analysts' €4.15 billion expectations. While the company’s sales were stronger than those of its
The Washington D.C.-based World Bank could mobilise between US$80 billion and $100 billion in financing over the next 15 months to support countries hit hardest by the war in the Middle East, outlining a response that would exceed the institution’s $70 billion deployment during the covid crisis. Proposed funding, announced on the sidelines of the spring meetings of the International Monetary Fu
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