United States President Donald Trump said he will temporarily pause a military operation aimed at escorting commercial vessels through the Strait of Hormuz, citing progress in negotiations with Iran. In a post on Truth Social on Tuesday (Wednesday AEST), Trump announced that “Project Freedom”, launched just one day earlier, would be halted as diplomatic efforts advance. The operation had bee
Super Micro Computer missed sales estimates last quarter amid customer readiness issues, though its shares spiked 18% due to strong earnings guidance. Net sales were US$10.24 billion, up from $4.60 billion one year ago but under LSEG consensus estimates of $12.33 billion. Earnings per share were $0.84, rising from $0.31 and passing estimates of $0.62. “Supermicro's transformation into a tota
Advanced Micro Devices beat estimates last quarter due to surging revenue from data centre products, with shares jumping 16.5%. Earnings per share were US$1.37, up from $0.96 and passing LSEG consensus estimates of $1.29. Revenue grew 38% to $10.25 billion, above estimates of $9.89 billion. “We delivered an outstanding first quarter, driven by accelerating demand for AI infrastructure, with
Strategy, the largest corporate holder of bitcoin, saw earnings sink below estimates amid a major cryptocurrency sell-off last quarter. Its loss per share was US$38.25, below its loss of $16.49 one year ago and well below the Zacks consensus estimate of a $3.41 loss. Revenue increased 11.9% to $124.30 million, missing estimates by 0.24%. “Adoption of Bitcoin continues to grow in 2026,” said
United States Defence Secretary Pete Hegseth said the fragile ceasefire between the United States and Iran remains in effect, despite renewed exchanges of fire and escalating tensions in the Strait of Hormuz. Speaking at a Pentagon briefing on Tuesday, Hegseth insisted that recent incidents did not signal a breakdown in the truce. “The ceasefire is not over,” he said, addressing reporters follo
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Germany is encouraging other European nations to increase military spending, as the United States withdraws the support traditionally offered to the continent. German Defence Minister Boris Pistorius made the comments over the weekend, following an announcement from the Pentagon that 5000 soldiers will be withdrawn from Germany. Germany has served as the largest European base for the U.S., b
The Australian Federal government will spend A$10 billion on national fuel stockpiles, as well as setting up a fuel reserve. Prime Minister Anthony Albanese made the announcement today and confirmed that the fuel reserve would be a permanent, government-owned operation. According to a statement, “This will support an overall expansion of Australia’s onshore fuel reserves to ensure at least 5
United States job openings edged lower in March, while a sharp increase in hiring signalled improving momentum in the labour market after a period of weakness last year. According to the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS), vacancies fell by 56,000 to 6.866 million at the end of March, slightly above expectations of 6.84 million. The job openings rate eased to 4
E-commerce platform Shopify beat revenue and earnings estimates last quarter, but shares fell 15.6% after it issued weak guidance. Earnings per share were US$0.36, up from $0.35 one year ago and above the Zacks consensus estimate of $0.32. Revenue rose 34% to $3.17 billion, surpassing estimates by 2.79%. “Shopify has entered the AI era with a clear edge: strong, durable growth and two decade
United States home sales in March grew more than expected as the median selling price slid to a more than 4-year low. According to the United States Census Bureau, new single-family sales increased 7.4% from February to an annualised pace of 682,000, the fastest pace of the year. The median estimate from Bloomberg was 652,000. The median price of new houses also dropped 5.3% below the Feb
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