BANKING & FINANCE

X Money, Elon Musk's financial service, offers a 6% yield on deposits, surpassing traditional banks. Regulatory scrutiny arises over sustainability and insurance coverage, as the service expands to select users.

BECU members reported digital banking access issues, with Downdetector noting a spike in complaints. The cause remains unclear, highlighting the importance of outage-tracking services for affected users.

Charles Schwab users experienced access issues during a crucial trading week, with outage-tracking services noting widespread disruptions amid major retail earnings reports. Schwab has yet to confirm the outage.

The FTSE 100 index rebounded on Monday, driven by weaker U.S. retail sales data that reduced rate hike expectations, with mining stocks leading the recovery amid firming industrial metal prices.

L1 Group Ltd's shares rose 6.79% after reporting a 97% profit growth post-merger with Platinum Asset Management, driven by strong investment performance and a one-off gain.

The G. Arete tanker paid a record $4.6 million to bypass Panama Canal congestion, highlighting how Iran conflict and El Niño conditions are disrupting global shipping routes.

The FTSE 100 index closed lower for the fifth consecutive session, driven by declines in mining and pharmaceutical stocks, despite initial gains from positive U.S. inflation data.

The Dow Jones Industrial Average rose slightly after July's inflation report showed a modest cooling, aligning with expectations. Investors now focus on upcoming Federal Reserve policy decisions amid ongoing market uncertainties.

The Dow Jones Industrial Average rose as oil prices surged due to tensions in the Strait of Hormuz, while U.S. markets approached record highs despite geopolitical uncertainties and mixed economic signals.

Oil prices remain volatile due to tensions in the Strait of Hormuz, with conflicting signals from Iran and the U.S. affecting market stability and future energy supply expectations.

Capital One's systems are operational, with no widespread outages detected. Isolated user complaints are likely due to local connectivity issues rather than a systemwide problem.

The Strait of Hormuz remains closed to commercial shipping due to ongoing Iran-U.S. tensions, significantly impacting global energy markets and causing a rise in oil prices.

Restaurant Brands International's earnings exceeded expectations, driven by Burger King's U.S. turnaround, despite challenges at Tim Hortons and Popeyes. The company's diversified portfolio highlights mixed brand performances.

The US economy unexpectedly lost 23,000 jobs in July, altering market expectations for Federal Reserve interest rate decisions, despite a slight drop in the unemployment rate to 4.1%.

Samsung and SK Hynix are testing Chinese chipmaking equipment from AMEC to counter potential U.S. export restrictions, highlighting a strategic shift in the global semiconductor supply chain.

SolarEdge's shares fell 30% due to a disappointing third-quarter revenue forecast, despite improved second-quarter earnings. The outlook affected other solar companies, highlighting ongoing challenges in the U.S. market.

Hecla Mining Company reports a debt-free balance sheet and record silver production, with strong cash flow and exploration results, despite a revenue dip due to lower metal prices.

The FTSE 100 index fell slightly by midday Wednesday, as mixed corporate earnings and geopolitical tensions over the Strait of Hormuz influenced investor sentiment, despite initial optimism in global markets.

President Trump warns Iran to reopen the Strait of Hormuz, as oil prices fall on hopes of a shipping deal. Negotiations show progress, but tensions remain high in the volatile region.

Bellevue Gold Ltd's shares rose 8.08% following record annual production and an upgraded outlook for FY27, reflecting strong operational execution and a favourable gold price environment.

Pinnacle Investment Management reported a 31% increase in net profit and record funds under management, driven by international expansion and strong inflows, despite a sluggish Australian market.

President Trump criticises ExxonMobil and Chevron for high profits amid the Iran conflict, urging them to lower consumer prices. Oil prices have surged, impacting American drivers significantly.

The Powerball jackpot has reached $748 million, prompting financial advisors to offer crucial advice for potential winners on securing their ticket, choosing payout options, and managing sudden wealth.

CoreWeave partners with Leidos to deliver secure AI cloud services to U.S. defense and intelligence agencies, aiming to expand its market beyond commercial AI customers into government sectors.

Chime Financial's stock rose over 4% as it announced a 10% workforce reduction and product expansion, aiming for efficiency and growth ahead of its second-quarter earnings report.

U.S. stocks opened higher after Trump cancelled a military strike on Iran, opting for diplomacy. This decision lowered oil prices and boosted market sentiment amid a busy earnings week.

Toyota shares fell 3.37% due to a stronger yen after a joint intervention by Japan and the U.S., affecting the automaker's earnings outlook ahead of its first-quarter report.

Japan's Nikkei 225 index fell 0.94% after a rare U.S.-Japan currency intervention strengthened the yen, impacting export-dependent manufacturers. The move marks the first coordinated intervention in decades.

The US and Japan have jointly intervened to support the yen, marking the first such action since 1998, aiming to stabilise the currency amid economic pressures and signal diplomatic friendship.