Reported 3 months ago
The Australian central bank has lowered its benchmark interest rate to 3.85%, marking the second quarter-point cut of the year.
Source: YAHOO
Reported 3 months ago
Australia's central bank has warned that a global trade war poses significant risks to the economy, potentially leading to lower inflation and higher unemployment. In its quarterly update, the Reserve Bank of Australia noted that global trade tensions, including U.S. tariffs, could drag down growth and impact Australia negatively. It is expected that interest rates will be cut in response to cooling inflation and weaker consumer demand, with new forecasts suggesting unemployment might rise to 4.3% by year-end.
Source: YAHOO
Reported 3 months ago
MediaTek's CEO Rick Tsai announced that the company intends to tape out its new 2 nanometer chip at TSMC in September 2025 during the Computex forum in Taipei.
Source: YAHOO
Reported 3 months ago
JPMorgan Chase CEO Jamie Dimon cautions that investors are overly complacent, as the effects of recently imposed tariffs and other economic threats are yet to be fully realized. Speaking in Paris, he raised concerns about rising inflation and potential stagflation, highlighting that the transition to domestic production takes years. Dimon's comments come in light of recent changes in U.S. tariffs and a downgrade of America's debt rating by Moody's, indicating increasing credit risks for investors.
Source: YAHOO
Reported 3 months ago
Shares of CATL, the world's leading EV battery manufacturer, rose approximately 17% during its debut on the Hong Kong market after raising $4.6 billion in an IPO, the largest for the year. Despite ongoing U.S.-China trade tensions, international investors showed strong interest in the company, which holds a 38% market share in EV batteries globally and supplies major automakers. The proceeds from the IPO are set to fund a new battery factory in Hungary as CATL aims to enhance its role in the global zero-carbon economy.
Source: YAHOO
Reported 3 months ago
TechnologyOne, an Australian enterprise software company, saw its shares surge to an all-time high after reporting first-half earnings that exceeded analyst estimates. The stock rose 12.7% to A$37.2 per share, leading gains on the ASX200 index. The company reported a pre-tax profit of A$81.9 million for the first six months, significantly higher than the expected A$77 million, with a forecast for continued profit growth in the coming fiscal year.
Source: YAHOO
Reported 3 months ago
On May 20, significant events to monitor include Home Depot's first-quarter earnings anticipated to reflect a shaky sales outlook due to a weak housing market, commentary from Federal Reserve officials post-inflation data, and the kickoff of Google's I/O developer conference where insights on product developments and AI updates are expected.
Source: YAHOO
Reported 3 months ago
Stord, a fast-growing e-commerce logistics provider, has acquired Ware2Go, a subsidiary of UPS, enhancing its operational capacity with an additional 21 warehouses totaling 2.5 million square feet. This strategic move allows Stord to better meet the growing demand from e-commerce brands while deepening its partnership with UPS. The acquisition follows Stord's significant funding round that valued the company at $1.5 billion, positioning it as a major player in North America's fulfillment network.
Source: YAHOO
Reported 3 months ago
The Bank for International Settlements (BIS) has raised concerns about a potential scramble for dollars, which could occur if investors begin to unwind large positions in the $113 trillion FX swap market, exacerbated by recent U.S. market volatility. With over $80 trillion in FX swaps held by non-bank financial entities, a rush to exit these positions may lead to a sharp increase in the dollar's value, particularly affecting those who have hedged their investments in other currencies. Recent market unrest and changing investor sentiments towards U.S. assets further amplify these concerns.
Source: YAHOO
Reported 3 months ago
UnitedHealth's stock rallied over 8% on Monday after several insiders, including new CEO Stephen Hemsley, bought shares following a steep decline to five-year lows due to concerns over leadership changes and a federal investigation into possible Medicare fraud. Hemsley's purchase of 86,700 shares at approximately $288.57 came after former CEO Andrew Witty's resignation, alongside other significant insider purchases. Despite this rally, the stock has still lost nearly half its value in the past five weeks.
Source: YAHOO
Reported 3 months ago
A federal judge has dismissed Vanguard Group's proposed $40 million settlement with mutual fund investors, stating that it offers no real benefit due to a larger $135 million settlement with the SEC that already compensates investors without deducting attorneys' fees. Judge John Murphy criticized the settlement as unfair and inadequate, emphasizing that it would ultimately leave investors worse off.
Source: YAHOO
Reported 3 months ago
Striking Pratt & Whitney workers, represented by the International Association of Machinists, will resume negotiations with RTX on Thursday as their strike enters its third week. Approximately 3,000 workers are seeking improved job security and higher wages, impacting production at Pratt's Connecticut sites, which are essential for manufacturing geared turbofan engines used in Airbus A320 neo aircraft and the F-35 fighter jet. The strike's continuation could further strain an already challenged aerospace supply chain.
Source: YAHOO
Reported 3 months ago
The U.S. Department of Justice has initiated an investigation into a recent cyberattack on Coinbase, the world's largest cryptocurrency exchange. Coinbase confirmed that it is cooperating with law enforcement agencies regarding the breach, which involved an unknown actor claiming to have sensitive customer information. The company anticipates financial losses ranging from $180 million to $400 million due to the attack, although the attackers did not obtain login credentials.
Source: YAHOO
Reported 3 months ago
On May 19, 2025, the S&P 500 recorded a slight increase of 0.1%, driven by gains in the biotech and healthcare sectors despite concerns over Moody's downgrade of U.S. credit ratings. UnitedHealth saw an 8.2% rise in its stock as its new CEO purchased shares, while renewable energy stocks fell due to discussions on phasing out clean energy tax credits. Solar stocks like First Solar and Enphase Energy experienced significant declines amidst an uncertain policy environment.
Source: YAHOO
Reported 3 months ago
Dollar Tree has named Duncan MacNaughton as the new CEO of Family Dollar, which is set to be acquired by private-equity investors for approximately $1 billion. MacNaughton, who has a background in retail and previously served as Family Dollar's finance chief, will assume his role following the completion of the sale, anticipated in the second quarter of 2025. Family Dollar, spun off from Dollar Tree after struggling against competition from larger retailers and e-commerce, was originally acquired by Dollar Tree in 2015.
Source: YAHOO
Reported 3 months ago
FedEx has appointed John Smith, a long-time insider and current COO of the company's U.S. and Canada operations, as CEO of its freight trucking spin-off, FedEx Freight. Smith previously led FedEx Freight from 2018 to 2021, where he significantly contributed to the company's growth during the pandemic. The separation of the freight trucking segment was announced in December 2024, with the divestiture expected to be completed by June 2026, projected to value the independent entity at $30-35 billion.
Source: YAHOO
Reported 3 months ago
During the first-quarter earnings season, 84% of S&P 500 companies referenced 'uncertainty,' a trend reminiscent of the Covid-19 crisis. The prominence of 'tariff' discussions reached a decade high on earnings calls, attributed to concerns over trade policies from the Trump administration. Despite these uncertainties, earnings have surpassed expectations, leading to strong growth, while many companies reported minimal tariff impact for this quarter. The upcoming earnings calls may continue to reflect these themes as companies seek clarity amidst ongoing trade negotiations.
Source: YAHOO
Reported 3 months ago
The Supreme Court has lifted a lower court's order, permitting the Trump administration to terminate Temporary Protected Status (TPS) for 350,000 Venezuelans, thereby exposing them to potential deportation. This decision marks a significant change in the immigration status for many and has raised concerns about the risk of returning to a crisis-stricken Venezuela. While government officials argue it enhances immigration integrity, critics describe it as a shocking action stripping essential rights from migrants.
Source: YAHOO
Reported 3 months ago
The recent downgrade of the U.S. credit rating by Moody's caused significant movements in global markets, with long-dated Treasury yields rising and the dollar weakening. Despite initial losses, U.S. stocks rebounded, and optimism remains around U.S.-China trade relations, putting the S&P 500 close to its all-time high. The downgrade highlights ongoing concerns about U.S. fiscal health as lawmakers debate a tax bill amid increasing national debt.
Source: YAHOO
Reported 3 months ago
Canadian National (CN) is actively working to enhance capacity and fluidity at the Port of Vancouver, the busiest port in Canada, amidst challenges in expansion due to geographical constraints. CEO Tracy Robinson emphasizes the importance of coordination to optimize operations, as CN operates about 70% of the trains in and out of the port. Recent improvements include upgrades to the ventilation system in the Thornton Tunnel and the construction of additional infrastructure to support train movements. While growth in Vancouver is challenging, CN is also exploring development opportunities at the Port of Prince Rupert to complement its operations.
Source: YAHOO
Reported 3 months ago
Wall Street stocks ended flat as investor sentiment was dampened by Moody's downgrade of the U.S. sovereign credit rating from 'Aaa' to 'Aa1' due to the government's significant debt. Despite the downgrade, the S&P 500 achieved its sixth consecutive daily gain, led by advances in healthcare and consumer staples. The Dow Jones increased by 137.33 points while the Nasdaq showed minor gains. Concerns about a potential tax bill also affected Treasury yields, with a slight increase noted.
Source: YAHOO
Reported 3 months ago
Regeneron Pharmaceuticals has successfully acquired the genetics business of 23andMe for $256 million, pulling the company out of bankruptcy. This strategic move aims to enhance Regeneron's drug discovery capabilities by utilizing DNA data. The acquisition focuses solely on 23andMe's genetics business, not its telehealth or pharmacy operations, and emphasizes a commitment to data privacy following recent concerns.
Source: YAHOO
Reported 3 months ago
Reddit's shares dropped nearly 5% after Wells Fargo downgraded the stock and cut its price target from $168 to $115, expressing concerns that Google's new AI search tools may disrupt traffic to the platform, thereby affecting advertising revenue. CEO Steve Huffman acknowledged potential challenges from Google's developments while some analysts still maintain a positive outlook on Reddit's growth prospects.
Source: YAHOO
Reported 3 months ago
U.S. stocks, bonds, and the dollar experienced a slight drift following Moody's downgrade of the U.S. government's credit rating, citing unsustainable debt levels and political gridlock. Initially, markets saw sharp declines but later recovered, with the S&P 500 ending up slightly as investors adjusted to the news. The downgrade raises concerns about potential increases in borrowing costs and its impact on the economy, alongside ongoing worries about trade policies and corporate outlooks.
Source: YAHOO
Reported 3 months ago
The 'Choose France' summit has successfully attracted 20 billion euros (approximately $22.47 billion) in new investments across various sectors, including defense, energy, and artificial intelligence, as announced by French President Emmanuel Macron. This annual event, held at the Palace of Versailles, has helped reshape global perceptions of France's economy, drawing significant commitments from international corporations. Notably, U.S. logistics giant Prologis plans to invest 6.4 billion euros in data centers, while fintech company Revolut seeks 1 billion euros for expansion in France. Macron emphasized the need for increased investment in emerging technologies and defense to strengthen France's economic position.
Source: YAHOO