Business
ASX set to fall as oil plunges and Nvidia drops 5%
Australian equities face a lower open following a sharp slip in crude oil prices and a tech sell-off that stripped Nvidia of its top market cap ranking.
Wall Street ends mixed as investors await major tech earnings
U.S. equities closed mixed with the S&P 500 staying above 7,400 while technology shares lagged as investors braced for upcoming earnings and a Federal Reserve decision.
Brookfield raises $2bn for Middle East fund backed by Saudi PIF
Brookfield Asset Management has secured $2 billion for its Brookfield Middle East Partners fund, with capital backed by Saudi Arabia's Public Investment Fund.
ASML shares tumble as China reports first mass‑produced immersion DUV tools
ASML's share price plunged following a report that a state-backed Chinese consortium has begun mass-producing immersion DUV lithography machines.
Elon Musk warns AI will surpass human intelligence within five years
Elon Musk claims artificial intelligence will surpass the sum of human intelligence within five years and potentially make money irrelevant by 2036.
HDFC Bank penalises CEO and CFO over MSRDC deposit divergence
HDFC Bank's board has penalised top executives including CEO Sashidhar Jagdishan and CFO Srinivasan Vaidyanathan following an investigation into MSRDC deposit practices.
Nvidia slips 4% as blockbuster AI spending spree triggers balance sheet jitters
Nvidia shares dropped 4% following a weekend of massive AI infrastructure commitments totaling over $750 billion that sparked balance sheet concerns on Wall Street.
Middle East tensions push oil above $100, stoking inflation fears
Brent crude has breached the $100-a-barrel threshold as US-Iran conflicts and Red Sea shipping disruptions strain global petroleum supplies.
CXMT could rally over 1,200% as Nomura sees market-share gain
Analyst forecasts diverge sharply on newly listed memory firm CXMT, with Nomura predicting massive gains and Morningstar citing technology constraints.
Nvidia in talks to provide $250bn financing guarantee for OpenAI data center
Nvidia is in advanced talks to provide a $250 billion financing guarantee to support OpenAI's massive 10-gigawatt data center campus in southern Ohio.
Sir Ian Wood, North Sea oil pioneer, dies aged 84
Sir Ian Wood transformed a modest family fishing-boat repair yard into the global oil-service powerhouse Wood Group, leaving a legacy in business and philanthropy.
China's Six Networks programme worth S$5tn to wire economy for AI
Beijing has unveiled a 26-trillion-yuan infrastructure strategy to unify transport, energy, and computing under a single coordinated AI-focused plan.
UK attractions question impact of government summer VAT cut for families
A temporary government VAT reduction on family attraction tickets, cinema visits, and children's meals aims to ease summer holiday costs, though parents and operators remain divided on its true impact.
Nvidia Eyes 250 Billion Financing Guarantee For OpenAis Mega Data Centre
Nvidia is in advanced talks to provide a $250 billion financing guarantee to help OpenAI lease a sprawling data centre campus in southern Ohio.
Oil prices tumble 5% as US and Iran pause military strikes
Crude prices fell sharply in early trading after Washington and Tehran agreed to a temporary pause in military strikes, easing major supply fears.
Perth homeowners balk at soaring renovation costs before selling
Exploding renovation costs across Perth are forcing owners who once relied on fix-up-and-flip strategies to rethink whether facelifts will pay off.
Big Tech share buybacks drop as AI infrastructure spending surges
Major U.S. technology companies have reduced share repurchases by 17% over the past year to fund a massive surge in artificial intelligence spending.
Water supply issue affects Gatwick Airport
A major water supply issue left Gatwick Airport's terminals without running water following an infrastructure failure at SES Water, causing disruption for travelers.
Sainsbury's signs decade-long deals to boost British salad production
Sainsbury's has secured decade-long supply agreements with domestic producers to increase British salad production and insulate shelves from import disruptions.
Tour de France final stage cut short due to wildfires
Wildfires forced race organizers to shorten the final stage of the Tour de France from 133 to 89 kilometers, shifting emergency resources while Tadej Pogačar claimed his fifth title.