Australia Breaking News

Microsoft Corp.'s Xbox plans to eliminate 3,200 jobs, or around 20% of its staff over the next year, as part of a massive reorganization to spur growth in the struggling gaming division. Jason Schreier reports on "Bloomberg Open Interest."

Max Kettner, chief multi-asset strategist at HSBC, says the ``melt-up'' moment in tech stocks is set to swing momentum back to the hyperscalers. He speaks on Bloomberg Television's ``Surveillance.''

Morgan Stanley Chief US Equity Strategist Mike Wilson says investors are rotating out of some of the year's biggest winning technology trades. He says hyperscalers will stabilize and semiconductors stocks will correct. He speaks on "Bloomberg Surveillance."

Kelsey Berro, Fixed Income Portfolio Manager at JPMorgan Asset Management, discussed the Federal Reserve's monetary policy outlook, indicating that a rate hike in July is probably off the table and she expects the Fed to stay on hold for the year. Berro also says while the recent payrolls report suggests the labor market is stable, it's not going to decisively influence Fed decisions. She speaks on "Bloomberg Surveillance."

More than $2 trillion is being poured into the global arms race as nations attempt to be the first to master drones, hypersonic weapons, AI and other emerging technologies that may dominate future battlefields. Bloomberg's Gerry Doyle reports.

Ireland's technology sector, heavily exposed to US multinationals, is facing widespread AI-driven labor market disruption and declines in its high tech employment rates. Bloomberg's Olivia Fletcher has more.

Amundi Investment Institute Head Monica Defend explains where she sees value in the AI supply chain. "Industrial is going to be a key sector because of its weight on on the market and because this is the sector where we have the AI enablers," Defend tells Bloomberg Television. "This is where we think the value and the performance might come from."

Oil swung in a narrow range as flows through the Strait of Hormuz persisted and OPEC+ signaled higher supplies. Bloomberg's Stephen Stapczynski reports.

Businesses in South Africa are investing in renewable energy to protect against rolling blackouts and steep price increases from state-owned power utility Eskom Holdings. Bloomberg's Jennifer Zabasajja reports.

Anna Edwards, Guy Johnson, Tom Mackenzie and Paul Dobson break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade."

Wilson Asset Management (ASX:WAM) appointed Catriona Burns as CEO to replace Kate Thorley after 15 years in the position.

Venus Metals (ASX:VMC) discovered an anomalous gold target zone measuring 1600m by 450m at its Henderson Project.