A renewed wave of geopolitical uncertainty in the Middle East has reignited concerns of an energy price shock, with Brent crude and WTI crude both seeing upward pressure. Historically, such price spikes tend to hit oil-importing economies hardest, especially when accompanied by a strong U.S. dollar (USD). However, a rare window of USD weakness is offering temporary relief to countries outside the U.S., mitigating the inflationary and fiscal stress typically associated with surging oil prices.
One of Australia’s largest online electronics and PC retailers, Mwave, has entered voluntary administration, according to filings with the Australian Securities and Investments Commission (ASIC). The development raises concerns over the company’s liquidity and long-term viability in an increasingly competitive e-commerce and consumer tech environment.
WestJet Airlines Ltd., one of Canada’s largest carriers, reported a cybersecurity breach that disrupted access to its mobile application and internal systems. The incident, disclosed in an official statement on Friday, has affected an undisclosed number of users and prompted an immediate internal investigation, with assistance from law enforcement and Transport Canada. While flight operations continue, the digital disruption raises concerns over airline cybersecurity resilience and customer data protection.
Alphabet Inc. $GOOGL, the parent company of Google, has formalized a historic agreement with the Chilean government to construct a 14,800-kilometer (9,196-mile) submarine data cable across the Pacific Ocean. Announced on Wednesday, this infrastructure project aims to connect Chile with Australia and Asia, with an operational target set for 2027.
Hewlett Packard Enterprise $HPE reported better-than-expected revenue and earnings for the second quarter, fueled by a surge in demand for servers tailored to artificial intelligence (AI) workloads and growth in its hybrid cloud segment. The company’s results underscore the increasing importance of advanced data center infrastructure in supporting generative AI (GenAI) applications, reflecting a broader industry shift towards AI-driven computing solutions.
Leading U.S. airlines, including American Airlines $AAL, United Airlines $UAL, and Southwest Airlines $LUV, have voiced strong opposition to a renewed legislative push that seeks to cap interchange fees charged by credit card giants Visa $V and Mastercard $MA. In a formal letter to U.S. senators, the aviation industry warned that the proposed legislation could undermine the economic foundation of rewards-based credit cards, potentially leading to the end of frequent flyer miles programs that are crucial to customer loyalty and airline revenues.
