Australia Breaking News

SpaceX shares are looking to bounce back on Tuesday after a three-day selloff wiped off more than $600 billion from the Elon Musk-led rocket and satellite company's market value. Shares are still up roughly 10% from its $135 initial public offering price. Pierre Ferragu of New Street Research says a cautious AI trade could be weighing on the stock. He speaks on "Bloomberg Surveillance."

President Donald Trump said funds released to Iran from frozen accounts will be "controlled by the U.S.A." and only to be used to purchase food and medical supplies from the US. Trump made the statement in a post on Truth Social on Tuesday. Tyler Kendall reports on Bloomberg Television.

"If you want to be longer risk, you can't wait too long," says Kate Moore, CIO at Citi Wealth, as she sees market pullbacks creating an opportunity to deploy capital during inflationary periods.

Andy Burnham is under pressure to outline an economic plan for the UK following his sudden and spectacular rise toward the pinnacle of British politics. Bloomberg understands the Labour leadership hopeful will give a set-piece speech on the economy next week as he seeks to lay out his stall ahead of that contest. Former Bank of England Governor Mervyn King was asked by Caroline Hepker and Lizzy Burden how the potential next Prime Minister should be thinking about the economy.

Jayati Bharadwaj, head of FX strategy at TD Securities, discusses the potential for yen intervention as the currency trades near its weakest level in four decades against the dollar. She speaks on "Bloomberg Surveillance."

Julian Emanuel, chief equity and quantitative strategist at Evercore ISI, says earnings and price have simply caught up to each other in some of the Mag 7 stocks as he explains why he remains bullish amid a global tech selloff.

SoftBank founder Masayoshi Son predicted that the AI race will be clinched by computing resources on Earth as he said there's little merit to building data centers in space, as championed by Elon Musk. Neil Campling reports on Bloomberg Television.

Oracle Corp. reduced its workforce by a wider scale than previously known, cutting 21,000 employees in the past 12 months. The reductions include jobs that were eliminated by the use of artificial intelligence. Neil Campling reports on Bloomberg Television.

Less than two weeks after the year's most hotly anticipated IPO, investors are questioning the remaining upside of a company that seeks to raise billions in investor-grade debt as the AI trade stalls and other major offerings from OpenAI and Anthropic loom. Bloomberg's Charlie Wells discusses on "The Pulse with Francine Lacqua."

Ludovic Subran, chief investment officer and chief economist at Allianz, discusses the outlook for technology stocks, inflation and central bank policy. He speaks on Bloomberg Television.

South Korean stocks tumbled from a record high as investors sold off chip heavyweights on renewed concern that the rally has become overstretched. The Kospi closed down 10%, with losses extending after a 20-minute trading suspension by the Korea Exchange. Bloomberg's Neil Campling has the latest.

Oil steadied after falling more than 3% in previous sessions following early progress in peace talks over the Iran war. A US waiver allows some sales from Iran, offering them a crucial economic lifeline. Rachel Ziemba, Founder of Ziemba Insights spoke to Bloomberg's Abeer Abu Omar on Horizons Middle East and Africa on the energy markets response to the US-Iran talks.