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
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
EasyJet plc has agreed in principle to a £5.5 billion (A$10.6 billion) takeover by United States-based investment firm Castlelake, potentially taking the British low-cost airline private after more than two decades on the London stock market. The airline said its board would be prepared to recommend a cash offer of £6.90 per share, describing the revised proposal as reflecting a value that shar
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
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The Bank for International Settlements has used its 2026 Annual Economic Report to warn that AI-related borrowing, leveraged non-bank lenders and shrinking fiscal space are now reinforcing each other's risks. The Basel-based institution's annual economic report, published on 28 June, delivered its bluntest financial-stability warning in years, flagging a system reliant on borrowing, leverage an
Wall Street's artificial intelligence (AI) infrastructure complex just endured its ugliest 48 hours of trading this year, and the trigger was not a missed earnings number but a strategic pivot from one of the sector's biggest customers. An index of semiconductors closed Wednesday 6.3% lower, with technology the weakest of the S&P 500 sectors, before the VanEck Semiconductor ETF surrendered anot
United States job growth slowed significantly in June as employers added fewer workers than expected and payroll figures for the previous two months were revised lower, signalling a cooling labour market and reducing expectations that the Federal Reserve will raise interest rates in the near term. According to the Labor Department's Bureau of Labor Statistics, nonfarm payrolls increased by 57,0
Google has lost its long-running fight against a record €4.1 billion (US$4.8 billion) European Union (EU) antitrust fine over its Android mobile operating system. The verdict on Thursday from the Court of Justice of the European Union was hailed as a major victory for European regulators seeking to curb the market power of large technology companies. “The appeal brought by Google and its par
Tesla has comfortably beaten forecasts with record second-quarter vehicle deliveries, but its shares dropped sharply amid greater focus on its longer-term artificial intelligence (AI) and autonomous driving ambitions. The electric vehicle (EV) and solar energy group said it delivered 480,126 vehicles in the three months to 30 June, up almost 25% from the previous corresponding period and well a