Business

The dollar climbed and 2-year Treasury yields rose after Fed Chair Kevin Warsh's Friday speech emphasized delivering stable prices, lifting rate-hike bets.

Business Khaled Ayoub -

Iran Ties Strait of Hormuz Reopening to End of Regional Wars

Iran said on Thursday it would set conditions to reopen the Strait of Hormuz, linking the move to an end to fighting in Gaza, Lebanon and Syria.

Middle East Aarav Shen -

Marvell Shares Fall 8% as AI Outlook Disappoints Despite 37% Revenue Jump

Marvell shares dropped 8% Friday after its fiscal 2028 outlook underwhelmed, despite 37% revenue growth, as investors questioned timing of a Google AI deal

Business Lynn Hatem -

Nvidia Earnings Beat Fails to Lift Broader Chip Sector This Week

Nvidia posted blockbuster results on August 28, but the wider chip sector closed mixed across the US, Europe and Asia, exposing a narrowing AI trade.

Business Lynn Hatem -

Nepal-Tibet Flood Kills 469, Leaves 39 Australians Missing and Rebuild Nearing $5 Billion

A glacier collapse on the China-Nepal border killed at least 469 people, left 39 Australians missing and could cost $5 billion to rebuild.

Asia-Pacific Lynn Hatem -

Latest

Home Depot Beats Q2 Estimates and Backs Outlook Amid Frozen Housing Market

Home Depot topped Wall Street forecasts with $47.86 billion in Q2 revenue as customers focused on smaller projects, reaffirming its full-year guidance.

Meta Faces Trial as States Allege Facebook, Instagram Addicted Children

U.S. states allege Meta designed Facebook and Instagram to addict children as a landmark trial begins, with the company warning of trillion-dollar exposure

Brent Crude Tops $90 as US-Iran Ceasefire Expires, Trump Threatens Oman

Brent crude climbed above $90 a barrel after the US-Iran ceasefire window expired and Trump threatened Oman, reversing weeks of market calm.

Serve Robotics Stock Swings as Delivery Expansion Meets 400% Revenue Jump

Serve Robotics shares swung sharply as a DoorDash and Grubhub fleet expansion met a 400% revenue jump and widening quarterly losses.

Russian Firm Asks Kremlin to Place Nestlé’s Local Units Under State Control

A Russian company has asked the Kremlin to place Nestlé's local operations under temporary state management, the latest bid to seize Western corporate asse

Shein Slashes Hong Kong IPO Valuation to $25 Billion

Shein has slashed its Hong Kong IPO valuation target to as low as $25 billion, down sharply from earlier ambitions of $30-40 billion.

Treasury Yields Climb as Investors Brace for Fed Minutes and Jackson Hole

U.S. Treasury yields climbed as investors awaited Federal Reserve meeting minutes and the Jackson Hole symposium for clues on the interest rate path.

Alibaba Sells Gaming Arm Lingxi to Trustar Capital in $2 Billion Deal

Alibaba has agreed to sell gaming arm Lingxi Games to Trustar Capital in a deal reportedly worth over $2 billion as it prioritizes AI and e-commerce.

China Retail Sales Grow Just 0.6% in July as Investment Slump Deepens

China's retail sales rose just 0.6% in July, missing forecasts, while industrial output slowed and fixed-asset investment fell, underscoring economic weakn

Ferrari’s First Electric Car, the Luce, Sells for Record $40 Million

Ferrari's first fully electric car, the polarizing Luce, has sold for $40 million at auction, far exceeding its original $640,000 list price.

Workday Surges on Report of $51 Billion Silver Lake Buyout Talks

Workday shares posted their best day in a decade on reports Silver Lake is in talks for a buyout valued at up to $51 billion, reviving the software trade.