NEWS

SYDNEY — Australia's fuel supply situation showed modest improvement Thursday as the number of service stations without diesel continued to fall and petrol reserves climbed to 46 days, but premiers gathered in a national cabinet meeting remained deeply concerned about the lingering impacts of disruptions in the Strait of Hormuz and the risk of renewed volatility.

SYDNEY — The S&P/ASX 200 index closed lower Thursday, shedding more than 50 points as renewed uncertainty over the Strait of Hormuz, a sharp drop in a major healthcare stock and broad sector rotation left investors cautious despite some resilience in energy and gold-related names.

Iranian Parliament Speaker Mohammad Bagher Ghalibaf said that it would be impossible to reopen the Strait of Hormuz due to the actions of the US.

NEW YORK — GameStop Corp. shares jumped more than 4.7% in midday trading Wednesday, climbing to $25.61 as renewed retail investor enthusiasm and speculation around CEO Ryan Cohen's ambitious turnaround plans fueled the latest surge in the iconic meme stock.

NEW YORK — The Dow Jones Industrial Average climbed sharply in early trading Wednesday, rising 0.76 percent or 375.78 points to 49,525.16 as investors welcomed President Donald Trump's decision to extend the U.S. ceasefire with Iran indefinitely, easing immediate fears of renewed escalation in the Middle East and supporting risk appetite across global markets.

DETROIT — General Motors Co. has indefinitely delayed development of its next-generation full-size electric trucks, including refreshed versions of the Chevrolet Silverado EV, GMC Sierra EV, Cadillac Escalade IQ and GMC Hummer EV models, as the automaker shifts resources toward internal combustion engines and hybrid technology in response to softening demand for battery-electric pickups.

AUCKLAND, New Zealand — Air New Zealand announced Wednesday that Chief Financial Officer Richard Thomson has resigned and will depart the national carrier on Aug. 28, prompting the airline to immediately begin searching for his successor amid ongoing operational and financial challenges.

LONDON — The FTSE 100 index climbed modestly in early trading Wednesday, rising about 0.11 percent to around 10,510 as investors weighed ongoing geopolitical developments in the Middle East and mixed signals from global markets following a sharp drop the previous day.

US President Donald Trump has extended its ceasefire with Iran indefinitely in an effort to bring both parties back to the negotiating table.

SYDNEY — Australian investors are grappling with the question of whether to buy or sell Bitcoin in 2026 as the cryptocurrency trades near all-time highs above US$94,000 while facing a complex mix of institutional adoption, regulatory clarity, and macroeconomic risks that could shape its trajectory for the rest of the year.

SYDNEY — Cochlear Limited shares plunged as much as 41% on Wednesday, trading as low as $101.60 after the world's largest cochlear implant maker reported disappointing first-half 2026 results, lowered full-year profit guidance and highlighted slower-than-expected adoption of its flagship Nucleus Nexa system.

SYDNEY — Cochlear Limited shares plunged as much as 41% on Wednesday, trading as low as $101.60 after the world's leading cochlear implant maker reported disappointing first-half 2026 results, lowered full-year profit guidance and highlighted slower-than-expected adoption of its new Nucleus Nexa system.

SYDNEY — The S&P/ASX 200 index fell sharply on Wednesday, closing down 81.7 points or 0.91% at 8,867.7 as renewed concerns over the U.S.-Iran standoff in the Middle East and a surge in oil prices pressured energy and materials stocks while broader risk sentiment remained cautious.

NEW YORK — Starbucks Corp. shares slipped in midday trading Tuesday, falling 1.62% to $97.35 as investors grew cautious ahead of the coffee giant's fiscal second-quarter 2026 earnings report scheduled for April 28, with concerns over slowing same-store sales growth and ongoing challenges in China weighing on sentiment.

SEOUL, South Korea — POSCO Holdings Inc. shares surged more than 8% Tuesday on the Korea Exchange, closing at 421,500 won after gaining 32,000 won, as investors cheered approval for a major low-carbon iron plant in Western Australia and positive technical signals ahead of the company's upcoming first-quarter 2026 earnings and business plan presentation.

ARLINGTON, Texas — D.R. Horton Inc. shares jumped sharply in morning trading Tuesday after the nation's largest homebuilder reported fiscal second-quarter 2026 results that exceeded earnings expectations and showed resilient demand through higher net sales orders, despite ongoing affordability challenges in the housing market.

OMAHA, Neb. — Valmont Industries Inc. shares rocketed more than 13% in early trading Tuesday after the infrastructure and agriculture products maker posted stronger-than-expected first-quarter results and raised its full-year 2026 earnings guidance, highlighting robust demand in North American utility markets and effective pricing strategies.

NEW YORK — GameStop Corp. shares rose modestly in early trading Tuesday, climbing to $25.21 as the video game retailer continued to draw attention following its recent launch of Power Packs, a digital trading card platform that lets collectors buy packs to unlock real PSA-graded physical cards stored securely in a vault.

NEW YORK — Avis Budget Group Inc. shares continued their meteoric rise Tuesday, surging more than 15% in early trading to $700.51 as one of the most intense short squeezes in recent memory showed no signs of easing, with short interest exceeding 50% of the float and hedge funds scrambling to cover positions.

NEW YORK — Tesla Inc. shares edged lower in morning trading Tuesday, dipping 0.42% to $390.86 as Wall Street positioned for the electric vehicle maker's first-quarter earnings report due after the bell on Wednesday, with focus squarely on robotaxi progress, capital spending plans and the outlook for autonomy amid slowing vehicle delivery growth.

NEW YORK — The Dow Jones Industrial Average climbed more than 210 points in early trading Tuesday, pushing the blue-chip index above 49,653 as investors brushed aside lingering Middle East tensions and focused on corporate earnings momentum and signs of diplomatic progress in U.S.-Iran talks.

CANBERRA, Australia — In a surprise move that could ease pressure on Australian beef exporters amid tightening quotas, China has granted export licences to eight new Australian meat facilities, including two abattoirs and six cold storage distribution centres, just months after imposing safeguard tariffs aimed at protecting its domestic cattle industry.

World oil prices slipped modestly Tuesday amid tentative optimism over U.S.-Iran diplomatic efforts, with Brent crude hovering near $94.70 per barrel as traders weighed mixed signals from the Middle East against lingering threats to global energy supplies.

LONDON — The FTSE 100 index rose modestly Tuesday, climbing 0.14% to 10,623.74 by mid-morning trading as cautious optimism over potential U.S.-Iran diplomatic progress helped steady investor nerves following weeks of geopolitical volatility in the Middle East.

OMAHA, Neb. — Warren Buffett, the legendary investor who built Berkshire Hathaway Inc. into a trillion-dollar powerhouse over six decades, continues to wield influence at the conglomerate even after stepping down as CEO at the end of 2025.

SYDNEY — The S&P/ASX 200 index closed slightly lower Tuesday, but a handful of standout stocks defied the broader market weakness, posting solid gains on the back of company-specific developments and sector tailwinds.

SYDNEY — Australia's fuel crisis, triggered by disruptions from the ongoing Middle East conflict involving the United States, Israel and Iran, showed tentative signs of stabilization Tuesday as national petrol stockpiles climbed to 46 days of emergency supplies, yet diesel shortages continued to hammer rural communities, transport operators and food supply chains.

SYDNEY — The S&P/ASX 200 index closed fractionally lower Tuesday, shedding 3.9 points or 0.04 percent to finish at 8,949.4 as investors adopted a wait-and-see stance ahead of a critical Middle East ceasefire deadline and weighed mixed signals from commodity prices and domestic sectors.

King Charles III led the tributes to his mother, the late Queen Elizabeth II, on what would have been her 100th birthday if she was still around.