SK Hynix revealed plans to buy back 40 trillion won ($29 billion) of stock and return more of its profits to shareholders. The memory chipmaker will buy back as many as 24 million treasury shares between Aug. 20 and Nov. 19 and cancel them. Neil Campling reports on Bloomberg Television.
Traders remain cautious as concerns over loose fiscal policy and heavy borrowing by the biggest spenders on the buildout of artificial intelligence are expected to keep yields elevated. Bloomberg's Neil Campling reports.
Bloomberg Intelligence data show that Europe needs to spend about $3 trillion through 2035 to reduce its reliance on foreign suppliers for AI and other critical technologies. To achieve full autonomy, much larger investments would be required. Bloomberg's Oliver Crook breaks down the report.
Absa Group is exploring the possibility of converting its representative office in Nigeria into a merchant bank. Chief Executive Officer Kenny Fihla also said he sees opportunities in Uganda, Zambia, Tanzania, Angola. He spoke to Bloomberg's Chief Africa correspondent, Jennifer Zabasajja, to discuss their plans after the group reported net income for the first half-year of 12.58 billion rand vs. 11.23 billion rand y/y.
Oil rose for a fourth day as the US and Iran showed no signs of progress towards a peace deal after almost six months of conflict. While Hormuz remains at stalemate, UAE said it fended off 2 missiles from Iran, but Tehran denies the attack. Karen Young, Senior Research Scholar at the Columbia University Center on Global Energy Policy spoke to Bloomberg's Abeer Abu Omar on Horizons Middle East & Africa as the conflict rages on.
SHAPE Australia (ASX:SHA) reported full-year revenue exceeding $1.2 billion for the financial year ended June 30.
Alphabet (NASDAQ:GOOGL) executed an agreement to raise up to $5.5 billion through a multi-part debt offering in the Australian market.
Service Stream (ASX:SSM) reported a full-year EBITDA of $163.4 million and net profit of $81.1 million for the year ended June 30.
The Trump administration delayed 50% tariffs on billions of dollars of Canadian products for three days, saying the two sides had reached a tentative agreement to resolve a broader trade dispute that had plunged relations to a fresh low. President Donald Trump announced the decision less than two hours before the tariffs were set to take effect. Bloomberg's Derek Wallbank reports.
Bond traders are looking to hedge the risk that the Federal Reserve pivots to cutting rates in 2027. The dovish wagers are at odds with recent moves in the Treasuries market, which saw yields on long-dated bonds climb to multiyear highs as a Fed on hold would keep inflation running above its target for longer. Bloomberg's Ven Ram has more.
Bond traders are looking to hedge the risk that the Federal Reserve pivots to cutting rates in 2027. The dovish wagers are at odds with recent moves in the Treasuries market, which saw yields on long-dated bonds climb to multiyear highs as a Fed on hold would keep inflation running above its target for longer. Bloomberg's Ven Ram has more.
Solvar (ASX:SVR) reported a normalised net profit after tax of $36.1 million alongside total fully franked dividends of 19.5 cents per share.
