Iran's attack on Kuwait tests fragile ceasefire
The fragile ceasefire between Iran and the United States came under renewed strain on Wednesday after an Iranian missile and drone attack struck Kuwait International Airport, killing one person and injuring dozens, while lawmakers in Washington voted to limit President Donald Trump's authority to continue military operations without congressional approval. Kuwaiti authorities said commercial fl
TransAlta buys gas plants from Blackstone for US$1bn
TransAlta Corporation said on Wednesday it has agreed to acquire two power stations in the United States from affiliates of Blackstone Inc for US$1 billion (A$1.4 billion). The Canadian power producer said it would buy Mountain Peak Power LLC and Canyon Peak Power LLC, which own two new natural gas peaking facilities near Denver, Colorado, with a combined generating capacity of 318 megawatts.
US proposes tariffs on 60 economies over forced labour
The Office of the United States Trade Representative has proposed new tariffs of up to 12.5% on imports from 60 economies, citing their failure to effectively ban goods linked to forced labour in what it describes as a widening imbalance in global trade practices. The determination, made under Section 301 of the Trade Act of 1974, found that all 60 economies had failed to adequately prohibit or
SpaceX prices IPO at US$135 as valuation hits $1.77tn
Elon Musk's Space Exploration Technologies Corp has set a fixed price of US$135 per share for its initial public offering, with terms confirmed in an amended prospectus filed with the SEC on Wednesday. The company plans to sell 555.6 million shares for a $75 billion fundraise, with underwriters holding an option to purchase a further 83.33 million shares at the offering price, adding up to $11.
US ISM services PMI accelerates; costs surge
The United States services sector expanded at a faster pace in May as businesses increased orders and replenished inventories in anticipation of supply shortages and higher costs linked to the ongoing conflict in the Middle East. Data released by the Institute for Supply Management (ISM) on Wednesday showed the non-manufacturing purchasing managers' index (PMI) rose to 54.5 in May from 53.6 in
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