AusNet’s Compulsory Land Bid Puts Farmers On Collision Course With Victoria’s Western Renewables Link

AusNet’s Compulsory Land Bid Puts Farmers On Collision Course With Victoria’s Western Renewables Link

AusNet has asked the Victorian government for powers to compulsorily acquire land easements for the Western Renewables Link, escalating tensions with farmers. The request follows a March law change allowing such applications during the ongoing Environment Effects Statement process. Farm groups and local councils have condemned the move, saying it undermines voluntary negotiations. The Victorian Coalition pledged to pause the project if elected in November.
May 8, 2026

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Pentagon’s $500 Million Scale AI Deal Puts Big Tech’s War Work Back in the Spotlight

Pentagon’s $500 Million Scale AI Deal Puts Big Tech’s War Work Back in the Spotlight

The Pentagon has raised Scale AI’s contract ceiling to $500 million, expanding the startup’s role in military data sorting and decision support. The agreement, five times larger than the previous $100 million award, covers computer vision and generative AI tools. Scale’s systems will operate on both classified and unclassified networks. The move follows new classified-network deals with Google, OpenAI, and Microsoft.
Geely-Ford Spain Plant Deal Could Give Chinese EVs a Faster Route Into Europe

Geely-Ford Spain Plant Deal Could Give Chinese EVs a Faster Route Into Europe

Geely has agreed to buy Ford’s idle Body 3 assembly hall at the Almussafes plant near Valencia, according to La Tribuna de Automoción, giving the Chinese automaker a European production base. Ford has not confirmed the deal. The hall previously built Mondeo, S-Max, and Galaxy models, but now sits unused as Valencia output fell 18% last year. EU tariffs on Chinese EVs reach up to 35.3%.
Nvidia Bubble Question Returns After AI Chip Rally Sends Nikkei To Record High

Nvidia Bubble Question Returns After AI Chip Rally Sends Nikkei To Record High

May 7, 2026
Japan’s Nikkei closed at a record 62,833 on Thursday, jumping 3,320 points as investors poured into AI and semiconductor stocks after the Golden Week break. The surge revived debate in Japanese media over whether Nvidia’s valuation and the broader AI-chip rally are sustainable. Local reports flagged risks of overheating and market concentration. Economist Emin Yilmaz warned that Nvidia’s market cap surpassing Japan’s GDP signals bubble-like conditions.
RTL Stock Slump Puts Sky Deal and Streaming Bet Under the Microscope

RTL Stock Slump Puts Sky Deal and Streaming Bet Under the Microscope

RTL Group shares fell 0.46% to 32.68 euros late Thursday, extending a 13.56% five-day slide amid questions over the broadcaster’s outlook. The stock dropped after RTL paid a 5.50 euro dividend linked to the RTL Nederland sale. The company will report first-quarter results May 13 and plans to close its Sky Deutschland acquisition June 1. EU regulators cleared the deal, which will create a group with 12.3 million subscribers.
DNO Tawke Restart Stalls: Kurdistan Oil Output Still Shut as Genel and ShaMaran Feel Iran War Hit

DNO Tawke Restart Stalls: Kurdistan Oil Output Still Shut as Genel and ShaMaran Feel Iran War Hit

DNO has restarted limited field work at the Tawke license in Iraqi Kurdistan, but oil production remains halted due to security concerns after U.S.-Israeli strikes on Iran. Genel Energy reported first-quarter Tawke output fell to 52,800 bpd, with its shares down 3.77% in London. DNO’s net profit for the quarter was $51 million, with North Sea output offsetting lower Kurdistan volumes.
France Fuel Prices Shift Before May 8 Long Weekend As Diesel Falls And Gasoline Edges Higher

France Fuel Prices Shift Before May 8 Long Weekend As Diesel Falls And Gasoline Edges Higher

Diesel prices in France fell 1.1 cents to €2.216 per litre on Thursday but stayed above €2.20, according to official data. TotalEnergies capped holiday weekend prices at €2.09 for diesel and €1.99 for gasoline across its network. Government figures showed 96% of stations had no supply issues, though local queues were possible. Brent crude traded at $101.98 a barrel after reports of tensions over the Strait of Hormuz.
Why Rheinmetall Stock Sold Off Even as Its Order Book Hit €73 Billion

Why Rheinmetall Stock Sold Off Even as Its Order Book Hit €73 Billion

Rheinmetall shares dropped 6.94% in Xetra trading after first-quarter results showed slower sales growth, despite operating profit rising 17% to €224 million. The company kept its 2026 guidance and reported an order book of €73 billion, but order intake fell 55% from last year’s surge. Naval Systems contributed €77 million in March sales after the NVL acquisition. CEO Armin Papperger expects stronger second-quarter sales and orders.
Greenland Ice Melt Is Surging Sixfold — Why Scientists Say Sea-Level Risk Is Rising

Greenland Ice Melt Is Surging Sixfold — Why Scientists Say Sea-Level Risk Is Rising

Greenland’s ice sheet meltwater production has increased sixfold since 1990, with seven of the 10 most extreme melt events occurring after 2000, a University of Barcelona-led study reports. The area affected by extreme melt expanded by 2.8 million square kilometers per decade, and meltwater volume rose from 12.7 to 82.4 gigatons per decade. NASA data show Greenland lost about 264 billion metric tons of ice annually between 2002 and 2025.
New Cork-France Ferry Route Opens In June As Hibernia Line Bets On Six Weekly Sailings

New Cork-France Ferry Route Opens In June As Hibernia Line Bets On Six Weekly Sailings

Hibernia Line has opened bookings for a new Cork-to-Boulogne ferry service starting June 12, with six weekly sailings each way for passengers and freight. The company expects to carry over 250,000 passengers a year using two vessels, St Patrick and MV Akka. The €20 million investment creates up to 250 jobs in Ireland and France, including 200 crew roles. Crossings will take about 21.5 hours.
Bitcoin Price Holds $80,000 As Tom Lee Says Rare Signal Points To Crypto Bull Market

Bitcoin Price Holds $80,000 As Tom Lee Says Rare Signal Points To Crypto Bull Market

Bitcoin traded near $80,134 Thursday, down 1.6% after hitting $81,670, as spot bitcoin ETFs drew $1.68 billion in inflows from May 1–6, Farside data showed. Fundstrat’s Tom Lee told MarketWatch institutional buyers are returning, while John Bollinger said his trend model turned positive. Ether traded at $2,301.31, down 2%. Lee’s Bitmine may slow Ethereum purchases, he said at Consensus Miami.
Oil Prices Are Falling. Germany’s Cars And Buses Still Face A Hidden Supply Shock

Oil Prices Are Falling. Germany’s Cars And Buses Still Face A Hidden Supply Shock

Some German automakers face shortages of Group III base oils used in synthetic motor oils, as supplies remain stuck in the Mideast Gulf amid continued closure of the Strait of Hormuz, Argus Media reported. European spot prices for a key Group III grade have risen 70% since the war began. Brent crude swung sharply on Thursday, dropping to $96.44 before rebounding above $101 as traders reacted to mixed signals on a U.S.-Iran deal.
UK Stock Market Today: FTSE 100 Slides as Shell, BP and BAE Drag London Lower

UK Stock Market Today: FTSE 100 Slides as Shell, BP and BAE Drag London Lower

London’s FTSE 100 fell 1.6% to 10,276.95 on Thursday, led lower by Shell, BP and BAE Systems as oil prices dropped and investors unwound gains. Shell slid 2.9% despite strong earnings and a dividend hike; BP lost 2.6% as Brent crude fell below $100. BAE Systems dropped 4.7%. The FTSE 250 rose 0.2%, helped by Helios Towers, which jumped 14.3% after raising its profit outlook.
Suncor’s C$2.1 Billion Profit Reveals Canada’s Jet-Fuel Opening

Suncor’s C$2.1 Billion Profit Reveals Canada’s Jet-Fuel Opening

May 7, 2026
Suncor Energy reported C$2.1 billion in first-quarter net earnings, driven by record refined product sales of 680,900 barrels a day and strong exports to markets including Puerto Rico and the Philippines. Net earnings rose from C$1.69 billion a year earlier. The company shipped 14 diesel cargoes from Vancouver in the quarter, up sharply from last year. Upstream production reached 875,200 barrels a day.
Bank of Nova Scotia Stock Hits 52-Week High: Why the BNS Rally Faces a Harder Test

Bank of Nova Scotia Stock Hits 52-Week High: Why the BNS Rally Faces a Harder Test

Bank of Nova Scotia’s U.S.-listed shares hit a 52-week high Thursday, trading up to $78.98 before closing near $78.48 on 1.68 million shares. The stock’s rally follows stronger-than-expected quarterly results, with adjusted net income of C$2.695 billion and EPS of C$2.05. Analysts remain mixed, with recent upgrades and downgrades, as the stock trades near fair value and at a premium to peers.
Google’s $99 Fitbit Air Takes Aim At Whoop As Fitbit App Gets Replaced

Google’s $99 Fitbit Air Takes Aim At Whoop As Fitbit App Gets Replaced

May 7, 2026
Google began U.S. pre-orders Thursday for the $99.99 Fitbit Air, a screenless fitness tracker arriving in stores May 26. The Fitbit app will rebrand as Google Health starting May 19, with expanded device support and medical record syncing. Google Health Coach, powered by Gemini AI, launches May 19 at $9.99 per month. A Stephen Curry edition Fitbit Air is also available for $129.99.
Disney Stock Rises as Josh D’Amaro’s First Earnings Report Beats Wall Street

Disney Stock Rises as Josh D’Amaro’s First Earnings Report Beats Wall Street

Disney shares rose 1.7% after reporting fiscal Q2 revenue of $25.17 billion, up 7% and above estimates. Streaming posted $582 million in operating income, up 88% year-over-year, and delivered its first double-digit margin. Parks revenue hit a record $9.49 billion despite a 1% drop in domestic attendance. New CEO Josh D’Amaro outlined a growth plan centered on streaming, ESPN, and theme parks.
IREN Earnings Today: Why the AI Cloud Stock Faces Its First Big Test After Mirantis Deal

IREN Earnings Today: Why the AI Cloud Stock Faces Its First Big Test After Mirantis Deal

May 7, 2026
IREN shares fell $1.48 to $59.50 ahead of its fiscal Q3 results, due after Thursday’s close. Analysts expect a $213 million revenue and a loss of 18 cents per share, with Zacks noting IREN has missed consensus for four straight quarters. The report follows IREN’s $625 million all-stock deal to acquire Mirantis and the activation of its 1.4-gigawatt Texas data center.
Warren Buffett’s Japan Bet Just Crossed a Line as Berkshire Tops 10% in Sumitomo and Marubeni

Warren Buffett’s Japan Bet Just Crossed a Line as Berkshire Tops 10% in Sumitomo and Marubeni

Berkshire Hathaway’s National Indemnity raised its voting stakes in Sumitomo and Marubeni above 10%, according to company notices. Sumitomo shares jumped 8.2% in Tokyo after the disclosure. Berkshire’s Class B shares also rose early in New York trading. The filings follow CEO Greg Abel’s remarks on maintaining patience with Berkshire’s large cash reserves.
Star Health’s Cheaper Insurance Bet Meets Claims Scrutiny as Payouts Jump

Star Health’s Cheaper Insurance Bet Meets Claims Scrutiny as Payouts Jump

May 7, 2026
Star Health will launch two low-cost health insurance products for smaller Indian cities this fiscal year, aiming for Rs 24,000 crore in gross written premium by FY27. Claim payouts in Andhra Pradesh and Telangana rose 24% in FY26. The company reported Rs 911 crore profit after tax for FY26, with a combined ratio of 98.8%. A Kerala consumer panel faulted Star Health over a COVID-era claim denial.
Binance Online May 13 Agenda Revealed: CZ, BlackRock COO And Crypto Leaders Join Global Livestream

Binance Online May 13 Agenda Revealed: CZ, BlackRock COO And Crypto Leaders Join Global Livestream

Binance will host a four-hour “Binance Online” event on May 13, featuring co-CEOs Yi He and Richard Teng, founder Changpeng Zhao, and executives from BlackRock, Ripple, and Solana. The program starts at 11:00 UTC on Binance Square. The event highlights Binance’s shift toward institutional finance, AI, and tokenization, and will offer $10,000 in crypto rewards to participants.