The Federal Reserve Bank of New York has warned that lower- and middle-income households are facing mounting financial strain and a “remarkable increase in food insecurity” as the divide within the United States economy continues to widen. In a recent blog post, New York Fed researchers said the increasingly pronounced “K-shaped” economy has left many lower-income Americans struggling with risi
The United States and Iran have reportedly reached an agreement on a memorandum of understanding to extend their ceasefire for 60 days, although U.S. President Donald Trump has yet to approve the proposal, according to four sources familiar with the matter cited by Reuters. Under the proposed agreement, the truce would be extended for another 60 days while negotiations continue over key issues,
Costco Wholesale reported third-quarter results after the U.S. market close on Thursday (Friday AEST), with rising fuel prices driving record demand at its petrol stations, helping the retailer outperform expectations for comparable sales growth. The wholesale retailer reported earnings per share (EPS) of US$4.93, in line with market expectations, while revenue came in at $70.53 billion; an inc
Silver's historic 2025 surge is now working against the metal, with analysts at three major banks warning that elevated prices are eroding demand across key industrial end-markets and leaving the metal exposed to further selling. Spot silver fell 3.7% to around US$72.13 per ounce (oz) on Thursday, extending a retreat that has seen prices shed roughly 40% from the January record high of $121.60/
Anthropic has become the world’s most valuable private artificial intelligence (AI) company after raising money at prices that capitalise it at US$965 billion (A$1.3 trillion). The company best known for developing the Claude AI assistants surpassed the $852 billion valuation of rival OpenAI when it raised $65 billion in its Series H funding round led by Altimeter Capital, Dragoneer Investment
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The value of Australian superannuation funds fell by 1% in the three months ended 31 March 2026 but rose 7.9% over 12 months, according to data from the Australian Prudential Regulation Authority (APRA). Releasing its Quarterly Superannuation Performance publication for the March 2026 quarter, APRA said sector assets were A$4.44 trillion at 31 March 2026, down from $4.49 trillion at 31 December
Software giant Salesforce cleared analyst expectations on earnings and revenue for its first quarter of fiscal 2027, with Agentforce's annualised recurring revenue crossing US$1 billion for the first time. However, a marginally soft full-year forecast and a miss on contracted backlog left shares little changed in after-hours trade on Wednesday. Salesforce (NYSE: CRM) reported Q1 FY27 revenue of
Super Nation is a fortnightly column that examines, explains and analyses key issues in one of Australia's largest, fastest-growing and most important industries: superannuation. The Federal Budget handed down by Australian Treasurer Jim Chalmers has attracted criticism for its ground-breaking tax reforms, but not from the superannuation industry, which escaped relatively unscathed. What sto
The prancing horse Ferrari's long-awaited electric debut drew a sharp market rebuke on Tuesday, wiping more than 8% from the Italian marque's Milan-listed shares as critics questioned whether the car remains true to the brand's identity. Shares in the Italian luxury carmaker plunged more than 8% on Tuesday after investors and critics reacted coolly to the Luce, its first fully electric vehicle,
Qualcomm has struck a deal to supply millions of application-specific integrated circuits (ASICs) to ByteDance, the Beijing-based owner of TikTok, to support the Chinese company's AI agent software running across its data centre network, Bloomberg reported on Tuesday, citing people familiar with the matter. Neither Qualcomm nor ByteDance offered comment when approached by reporters, leaving the
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