The sale of American gaming giant theguardian.com (EA) for $55bn (£41bn) to a group of buyers including Saudi Arabia’s Public Investment Fund (PIF) has been finalised. The acquisition was completed on Tuesday evening, according to theguardian.com, following approval from the European Union, which marked the final regulatory clearance needed. News of the deal first broke … Read more
Uber Technologies forecast third-quarter adjusted earnings below Wall Street expectations on Wednesday, August 5, 2026, citing foreign exchange pressures. The ride-hailing giant also reported second-quarter gross bookings of $58.02 billion while reaffirming plans to invest heavily in autonomous vehicles and acquisitions. Investors scrutinized the ride-hailing and delivery platform’s financial trajectory as shares of Uber Technologies … Read more
U.S. Treasury yields declined, following comments from Treasury Secretary Scott Bessent that a deal with Iran to reopen the Strait of Hormuz may be near. The optimism triggered a retreat in oil prices, easing investor concerns over persistent inflation and government borrowing costs. Markets reacted sharply Tuesday as the prospect of a diplomatic breakthrough shifted … Read more
SpaceX reported $7.8bn in revenue, a 92% increase from a year ago, but its $18.3bn in spending and $2bn net loss raised concerns about sustainability, despite Elon Musk’s optimism about Starlink and AI ventures. Elon Musk’s SpaceX revealed its first-ever quarterly financial results, showing a dramatic surge in revenue paired with even steeper spending. The … Read more
SpaceX reported a 92% revenue increase to $7.8bn but faced a $2bn net loss amid $18.3bn in spending, according to a BBC report. A Revenue Surge Paired With Spending SpaceX’s first-ever quarterly earnings report revealed a stark contrast between revenue growth and operational costs. Revenue rose 92% year-over-year to $7.8bn, driven largely by Starlink’s $1.6bn … Read more
FIFA president Gianni Infantino faces mounting pressure after a leaked internal email from secretary general Mattias Grafström condemned his controversial World Cup share-sale plan, while UEFA threatens legal action over the failed initiative. FIFA president Gianni Infantino is under intense scrutiny following a dramatic shift in support from key stakeholders, as internal dissent and external … Read more
The US stock market hit a record high on August 5, 2026, fueled by optimism over potential progress in reopening the Strait of Hormuz and strong corporate earnings, while oil prices fell amid geopolitical tensions. The US stock market surged to a record high on August 5, 2026, as investors bet on a potential resolution … Read more
On August 4, 2026, Federal Reserve Bank of Kansas City President Jeff Schmid urged tighter monetary policy to rein in inflation, stating that current measures are insufficient to meet the Fed’s 2% target. His remarks, delivered ahead of a farming event, mark a hawkish shift amid persistent price pressures and rising energy costs. Jeff Schmid, … Read more
AI stocks drove Wall Street higher on Tuesday, with the Nasdaq composite rising 1.3% and the S&P 500 climbing 0.9%. Gains in chipmakers like Micron Technology and Nvidia offset pressures from rising Brent crude oil prices, which topped $91 per barrel amid ongoing U.S.-Iran attacks, according to AP News. The market is currently locked in … Read more
State-owned Oil and Natural Gas Corporation (ONGC) reported a standalone net profit of Rs 17,033.81 crore for the June quarter ending June 30, 2026. The surge, which more than doubled year-over-year, was driven by a 50% spike in crude oil prices following conflict in West Asia and higher gas realisations. The numbers coming out of … Read more