Wall Street pushed the Dow past 53,000 on renewed AI optimism, but the real test sat in Seoul. A record quarter from Samsung has steadied the memory trade, days before a US$29 billion SK Hynix listing puts it under fresh scrutiny. The Dow Jones Industrial Average closed above 53,000 for the first time on Monday, climbing 0.29% to 53,055.91 while the Nasdaq added 1.12% and the S&P 500 rose 0.72%
Lockheed Martin Corp has agreed to acquire naval defence company Ultra Maritime for US$3.45 billion (A$4.95 billion) to bolster its portfolio as global demand for military technology surges. The aerospace and defence contractor said the acquisition would expand its maritime defence portfolio by adding Ultra Maritime’s expertise in sonar systems, acoustic sensing, radar technologies, torpedo de
Crinetics Pharmaceuticals stock surged after it was acquired by Vertex Pharmaceuticals Incorporated for US$10 billion (A$14.4 billion) in one of the biotechnology sector's largest deals this year. Crinetics (NASDAQ: CRNX) shares doubled in after-hours trading to a record high of $84.20 after earlier closing down 20 cents (0.47%) at $42.03, capitalising the company at $4.43 billion (A$6.36 billi
Major United States benchmark indices closed higher on Monday (Tuesday AEST), with the Dow Jones Industrial Average notching a fresh record high as investors piled into artificial intelligence-linked chip stocks ahead of what is expected to be a strong second-quarter earnings season. The Dow Jones Industrial Average gained 155.8 points, or 0.3%, to a record 53,055.9. The S&P 500 advanced 54.2 p
United States services sector activity slowed modestly in June as a surge in business orders linked to the Middle East conflict faded, though employment returned to growth after three consecutive months of contraction, signalling continued resilience in the labour market. The Institute for Supply Management (ISM) said on Monday its Services Purchasing Managers' Index (PMI) edged down to 54.0 in
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The National Rugby League (NRL) has signed a A$5.3 billion (US$3.7 billion) media rights agreement with Foxtel Group, Nine Entertainment and Sky NZ, claiming it as an Australian record for sports. On a revenue-per-year basis, the seven-year agreement just shades the $4.5 billion the rival Australian Football League (AFL) secured for a six-year deal in 2023, albeit the AFL agreement ends three y
The Organization of Petroleum Exporting Countries (OPEC+) has approved a further increase in oil production targets from August, adding more supply to global markets as exports through the Strait of Hormuz gradually recover and crude prices remain under pressure. The producer group announced the decision following its latest meeting on Sunday, saying the move reflects its ongoing commitment to
Foxconn has exceeded market expectations by reporting a 39.8% increase in second-quarter (Q2) revenue but signalled a note of caution about "volatile" global politics. The Taiwanese company, the world's largest contract electronics maker, said revenue jumped to T$2.513 trillion (US$78.71 billion) in the three months ending June 2026. That was more than the T$2.372 trillion estimate from Lond
Three sons of slain Iranian leader Ayatollah Ali Khamenei appeared at funeral prayers in Tehran on Sunday, while his successor and son, Supreme Leader Mojtaba Khamenei, remained absent from public view following reports he was injured in the airstrike that killed his father. Ayatollah Ali Khamenei, along with several relatives, was killed in an airstrike on 28 February after the United States a
A cargo vessel has reported coming under attack in the Red Sea, according to the United Kingdom Maritime Trade Operations (UKMTO), raising fresh concerns over security along one of the world's most important shipping routes despite a fragile ceasefire between the United States and Iran. The UKMTO, a British maritime security monitoring service, said it received a distress report from a vessel l
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