Business
Global Market Today: Asian stocks drop as AI rally pauses, oil dips
The MSCI Asia Pacific Index declined 0.2%, with South Korea’s Kospi Index falling 1%. Earlier, the S&P 500 Index pulled back from a record high while an index of semiconductor stocks lost more than 1%, even as Nvidia Corp. advanced. SpaceX tumbled 14% despite strong earnings, ahead of the release of about $101 billion of shares for trading Thursday.
Sentiment improved in early Asian trading, with S&P 500 Index futures rising 0.1%. However, a cautious tone lingered as memory makers Sandisk Corp. slid 7.5% and Western Digital Corp. plunged 11% in post-market trading after reporting earnings.
US crude edged lower on Thursday after Iran said it had reached an agreement with Oman on a proposed shipping route through the Strait of Hormuz, a potential step toward reopening the critical waterway. West Texas Intermediate fell 0.4% to below $75 per barrel. The dollar held its losses from the previous session, while gold hovered around $4,270 an ounce after posting its biggest gain since February.
Wednesday’s pause in the US stock rally came as investors reassessed valuations after AI-related shares rebounded sharply from last month’s bruising selloff, which hit several hedge funds. Traders are now focused on developments in the Middle East for clues on the direction of oil prices, with knock-on effects for inflation and central bank policy.
“AI-related results and commentary have sparked some profit taking,” said Colin Cieszynski, chief market strategist and portfolio manager at SIA Wealth Management Inc.
Meanwhile, Treasury yields were little changed on Wednesday after data showed the US services sector expanded at a steady pace in July, even as higher costs for labor and materials continued to weigh on businesses. Hiring slowed, with companies adding fewer workers than expected.If Friday’s monthly payrolls report confirms signs of a cooling labor market, it may give Federal Reserve officials room to keep their focus on stubborn inflation, rather than employment.
Even so, policymakers continued to signal they are prepared to tighten policy further if price pressures persist. Minneapolis Fed President Neel Kashkari told CNBC the central bank should begin raising interest rates incrementally now, while Governor Lisa Cook said she was prepared to act if inflation failed to keep slowing.
“If I do not see signs of continued disinflation soon, I am prepared to act,” Cook said Wednesday in a speech at an event in Alaska. “With five years of above-target inflation, the risk grows that higher inflation may become entrenched in price- and wage-setting behavior, leading to persistence that would be much harder for us to attack.”
Business
AMP expands profit by a third as super fund outperforms
Shares in AMP have climbed nearly six per cent after the financial services company increased its dividends due to a strong half-year.
Business
Opportunity Across Beta In Emerging Markets Debt
William Blair is committed to building enduring relationships with our clients and providing expertise and solutions to meet their evolving needs. We work closely with the most sophisticated investors globally across institutional and intermediary channels. We are 100% active-employee-owned with broad-based ownership. Our investment teams are solely focused on active management and employ disciplined, analytical research processes across a wide range of strategies. We are based in Chicago with resources in New York, London, Zurich, Sydney, Stockholm, and The Hague, and dedicated coverage for Canada.
Business
trivago: High Upside Left After Impressive Q2
trivago: High Upside Left After Impressive Q2
Business
EV secures binding ore supply deal
Shares in Subiaco-based EV Resources rose by more than 10 per cent on Thursday morning, following successful conversion of an existing MOU.
Business
TV Channel, Kickoff Time and Full Details Now
Chelsea and Juventus meet Wednesday in one of the summer’s most closely watched preseason friendlies, with both European giants using the match at Kai Tak Sports Park in Hong Kong to fine-tune their squads ahead of the 2026-27 season.
The match, part of the Hong Kong Football Festival 2026, kicks off at 7:30 p.m. local time in Hong Kong, which translates to 8 a.m. UTC. That puts the start time at roughly 4 a.m. Eastern time in the United States, giving American fans an early wake-up call if they want to catch the match live.
How to Watch in the United States
Fans in the United States have multiple ways to follow the match. The game will be shown live on Prime Video, Paramount+ and CBS Sports Golazo, giving viewers a choice between several major streaming platforms depending on existing subscriptions. Paramount+ carries CBS Sports’ soccer coverage broadly, including UEFA Champions League matches, in addition to a wide slate of other sports and entertainment programming, while CBS Sports Golazo offers dedicated soccer coverage as part of its programming lineup.
How to Watch in the UK and Elsewhere
For fans in the United Kingdom, the match will not be shown on traditional television. Instead, Chelsea is streaming the game live through the club’s own CFC+ subscription service, available via the Chelsea Official App and the club’s website. Supporters should note that the CFC+ stream will not be available in Hong Kong, Macau or Italy, meaning fans in those specific markets will need to seek alternative broadcast options where available.
For those without access to a CFC+ subscription or one of the U.S. streaming platforms, Chelsea’s Matchday Live service offers minute-by-minute updates throughout the match via the club’s official app and website, including confirmed starting lineups as soon as they are announced, along with live text commentary, statistics and imagery throughout the game. Juventus has also indicated the match will be available to watch for free through its own club channels as part of coverage of what the Italian club is calling the first fixture of its Summer Tour.
A Big Test for Both Sides
Wednesday’s match represents a significant challenge for both clubs as they continue building toward the new season. Chelsea enter the fixture off the back of a disappointing 2-1 defeat to rivals Tottenham Hotspur on Saturday in Sydney, a result that saw manager Xabi Alonso continuing to experiment with his tactical setup as his first full season in charge of the Premier League side approaches. Alonso’s side also faced 10-man Tottenham during the Australian leg of their preseason tour before moving on to face Juventus and, subsequently, AC Milan in Hong Kong and Jakarta.
Juventus, meanwhile, arrive in strong defensive form, having yet to concede a goal across their preseason warmup matches so far, most recently claiming a 2-0 win over Nice. Manager Igor Tudor is using the club’s preseason schedule to continue establishing his tactical identity with the Serie A side ahead of the new campaign, and is expected to field a strong lineup against Chelsea given the profile of the opponent.
Squad News and Returning Players
Among the storylines surrounding Chelsea’s squad ahead of the match is the potential involvement of winger Mykhailo Mudryk, who could make his return to competitive football after a 20-month suspension following an adverse finding for a banned substance in 2024. Alonso has confirmed that the 25-year-old, who joined Chelsea for $115 million in January 2023, is available for selection as the club continues preparing for the new season. Chelsea has been using its preseason friendlies broadly to build squad chemistry, improve match fitness, and integrate several new signings, while also providing valuable minutes to players returning from injury or international duty over the offseason.
What Comes Next
Wednesday’s match against Juventus is not Chelsea’s final preseason test. The club is scheduled to continue its Asia tour with a subsequent friendly against AC Milan in Hong Kong before wrapping up preparations with a match in Jakarta, Indonesia. Once the squad returns to London, Chelsea will host Real Sociedad at Stamford Bridge on Saturday, Aug. 15, in what is expected to be their final home tune-up before officially opening the 2026-27 Premier League season away to Fulham on Monday, Aug. 24.
For Juventus, Wednesday’s fixture against Chelsea is similarly positioned as one of the tougher tests of their preseason slate, with the Italian club continuing preparations for their own return to competitive football as the new Serie A campaign approaches.
A Marquee Preseason Matchup
While no trophy or competition points are on the line, Wednesday’s friendly carries added significance given the profile of both clubs and the timing within their respective preseason schedules. With Chelsea working to sharpen its form under Alonso following back-to-back tour matches, and Juventus looking to extend a clean defensive record under Tudor, the match offers both managers a valuable opportunity to assess squad depth and tactical cohesion against high-level opposition before facing the pressures of the regular season.
Fans looking to follow the match across any platform are advised to confirm regional streaming availability ahead of kickoff, given the blackout restrictions in place for Hong Kong, Macau and Italy on Chelsea’s own CFC+ service, as well as the early morning start time facing viewers across North America.
Business
Braveheart Bio prices $382.5M IPO at $18 per share

Braveheart Bio prices $382.5M IPO at $18 per share
Business
Ken Griffin proceeds with Citadel skyscraper despite Mamdani feud
FOX Business Madison Alworth reports on Citadel CEO Ken Griffin reaffirming plans to move his firm to Miami from New York City, driven by a desire for a state that embraces business on Varney & Co.
The development of a skyscraper in New York City that will house Ken Griffin’s Citadel is moving forward despite his feud with New York City Mayor Zohran Mamdani.
The skyscraper project at 350 Park Avenue is being developed by Griffin’s Citadel in partnership with Vornado Realty Trust and Rudin, and will see two of Griffin’s firms being anchor tenants.
Steven Roth, CEO of Vornado Realty Trust, said on the company’s earnings call on Tuesday that the project is underway and that the REIT will maximize its stake in the venture.
“If you drive or walk past Park Avenue at 52nd Street, you will see that our 350 Park Avenue site is now under construction, actually under demolition. We intend to shortly exercise our investment option to participate in this deal at our maximum ownership alongside Ken Griffin as our 60% partner and with Citadel as our 1-million-square-foot anchor tenant.”
HEDGE FUND BILLIONAIRE EXPANDS MIAMI DEVELOPMENT PLANS AFTER MAMDANI FEUD

The new skyscraper being built by Citadel, Vornado and Rudin will be at 350 Park Ave. in New York City. (Fox Business)
Roth said on the call that Citadel holds a 60% stake in the partnership, while Vornado’s will top out at 36%.
The project is moving forward after Mamdani specifically criticized Griffin for owning a penthouse on Central Park South in a video detailing his new pied-a-terre tax, which is levied on high-value residential properties whose owners don’t live in the city full-time.
Mamdani spurred the controversy with an April 15 video the mayor recorded in front of Griffin’s penthouse, calling him out as a wealthy hedge fund owner who would be subject to the new luxury property tax.
NEW YORK’S WEALTHY RUSH TO AVOID MAMDANI’S SECOND-HOME TAX

New York City Mayor Zohran Mamdani stands outside of Citadel CEO Ken Griffin’s Park Avenue penthouse in an April 15, 2026, video. (NYC Mayor’s Office)
“When I ran for mayor, I said I was going to tax the rich. Well, today we’re taxing the rich… This is an annual fee on luxury properties worth more than $5 million whose owners do not live full-time in the city – like this penthouse, which hedge fund CEO Ken Griffin bought for $238 million,” Mamdani said in his video.
Griffin responded, calling the personal attack “creepy and weird,” worrying that it put him in harm’s way and demonstrated a “profound lack of judgment,” on Mamdani’s part.

Citadel CEO and founder Ken Griffin said Mamdani’s video was “creepy and weird.” (Aaron Schwartz/Bloomberg via Getty Images)
Citadel executives went on to suggest that the new office space could become a casualty of Mamdani’s not-so-business-friendly policies.
Gerald Beeson, the firm’s COO, wrote in an April 23 memo to employees that the firm’s development of 350 Park Avenue was about to begin and would create “6,000 highly paid construction jobs” as well as support the “creation of more than 15,000 permanent jobs in Midtown New York.”
“The project – if we move forward – will entail more than $6 billion dollars of spending,” Beeson wrote.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Mamdani eventually softened his rhetoric and thanked Griffin for his contributions to the city, including funding a memorial wall for police officers killed in the September 11 attacks and those who died of illnesses related to the recovery from the attacks that will open later this year in NYC Police Headquarters.
FOX Business’ Robert McGreevey contributed to this report.
Business
Meta says AI model accessed the internet and hacked another firm
Facebook owner Meta says an error during an evaluation by an independent testing company allowed one of its artificial intelligence (AI) models to connect to the internet and hack another organisation’s system.
The announcement follows recent incidents across the AI industry, including breaches by OpenAI and Anthropic models, that have raised cyber-security concerns.
A Meta spokesperson told the BBC that it was investigating the hack that was caused by a “misconfiguration”, which it described as similar to previously reported incidents at other firms.
The incidents have prompted researchers and governments to call for tougher safeguards and more rigorous testing.
Meta said the tests were conducted by Irregular, an AI security vendor, which notified it about the breach.
The BBC has contacted Irregular for comment.
Meta also said it will publish more information on the incident “once we have all the facts.”
In the past two weeks, AI leaders OpenAI and Anthropic have also reported incidents in which their models hacked into other organisation’s systems during testing.
ChatGPT-maker OpenAI said in a series of announcements that its agents attacked several publicly available services, including AI tools hub Hugging Face.
OpenAI’s disclosure prompted rival Anthropic to conduct its own checks, leading to the discovery that its Claude AI model had carried out similar attacks on several firms after a “misconfiguration” gave it access to the internet.
Some commentators have questioned the timing of disclosures about the incidents as tech firms wrestle for dominance in AI development.
OpenAI and Anthropic are preparing blockbuster stock market listings that are expected to value each firm at around $1tn (£740bn).
This week, the UK’s AI Security Institute (AISI) said that its testing had found that some models tried to carry out cyber-attacks by creating fake human profiles to try and trick people.
In the most serious case, the AISI said Anthropic’s Mythos AI tried to gain access to a service by sending private messages using fake accounts mimicking real people.
Anthropic said AISI’s tests were not “representative of any of our production models”. OpenAI, whose models were also tested, said AISI’s evaluations did not reflect ordinary use.
Business
Why is Beach Energy stock sliding today?

Why is Beach Energy stock sliding today?
Business
Nationwide recall issued for dog and horse medication over fiberglass
Check out what’s clicking on FoxBusiness.com.
A nationwide recall has been issued for dog and horse medication after fiberglass was found floating in injection vials.
American Regent, Inc. announced that select lots of Adequan Canine Injection and Adequan i.m. Injection joint medication are affected by the recall.
The recall includes two lots of Adequan Canine Injection, which is used to treat joint dysfunction in dogs, and two lots of Adequan i.m. Injection, which is for treating joint dysfunction and lameness in horses.
SOME OLDER FORD VEHICLES POSE ‘UNREASONABLE’ SAFETY RISKS, REGULATORS WARN

American Regent, Inc. announced that select lots of Adequan Canine Injection and Adequan i.m. Injection joint medication are affected by the recall. (FDA)
Both products are clear and colorless to slightly yellow solutions administered by intramuscular injection.
The company said the glass fibers were found during routine testing.
American Regent, Inc. said it has not received any reports of an injury related to the recall.
POPULAR WALMART NUT BUTTER RECALLED AFTER TESTING DETECTS SALMONELLA

Both products are clear and colorless to slightly yellow solutions administered by intramuscular injection. (FDA)
Consumers are urged to stop using the recalled product lots and to throw them away or return them to the manufacturer. Consumers should also contact a veterinarian if their pets have experienced any problems that may be linked to using the medication.
“The administration of an intramuscular injectable product containing particulate matter, such as glass fibers, may result in local irritation, swelling, inflammation, injection site pain, infection, or abscesses,” the company said in its recall notice.

American Regent, Inc. said it has not received any reports of an injury related to the recall. (Getty Images / Getty Images)
CLICK HERE TO GET FOX BUSINESS ON THE GO
Veterinary hospitals, distributors and retailers are also instructed to return any unused product to the manufacturer or discard the item.
“American Regent, Inc. is committed to the safety of patients who rely on its products and is taking this precautionary action to protect public health,” the company said.
-
Fashion5 days agoWeekend Open Thread: Wit & Wisdom
-
Politics5 days agoMeta enters AI-training agreement with far-right ‘propaganda rag’ Newsmax
-
Politics3 days agoZack Polanski: an incitement to murder Nigel Farage?
-
Crypto World5 days agoMicroStrategy Post-Earnings CLARITY Act Push Could Add New Catalyst for Its Stock
-
Crypto World5 days agoXRP Ledger v3.3.0 brings five institutional features
-
News Videos7 days agoBitcoin Enters the 3rd Stage of the Bear Market
-
Politics6 days agoLuke Littler’s dominance sparks GOAT debate
-
Sports6 days agoSeema Kaliramna Wins Discus Throw Bronze, Takes India’s CWG Medals Tally To 17
-
Crypto World5 days agoNew York sues Kalshi over prediction market gambling
-
Crypto World4 days agoCrypto PAC spending tops $2M in Michigan House race
-
Business3 days agoDTCR: Deleveraging And A Hedge Fund Collapse Point To A Possible AI Bottom
-
Business6 days agoTrump Announces Hamas Disarmament Agreement as Iran Strikes Kuwait Air Base and US Attacks Pause Overnight
-
Crypto World5 days ago3 Fed Officials Just Explained Their Rate Hike Vote: Is Inflation Winning?
-
Tech4 days agoESET tracks rise in malicious AI skills and adaptable malware
-
Sports5 days agoFrance Cricket implodes: letters hidden in a drawer and a board at war
-
NewsBeat7 days agoFour people die trying to cross Channel in small boats
-
Tech6 days agoGemini Spark can now use Chrome logins and saved passwords to run errands on your behalf
-
Tech6 days agoBuilding A Reproduction PlayStation Motherboard
-
Crypto World3 days agoXRP Ledger urges node upgrade after manifest flood
-
Crypto World5 days agoMoneyflip CEO charged in $40K murder-for-hire plot

You must be logged in to post a comment Login