Paige McNamee

Plus: UAE to leave OPEC citing need for policy independence; Tech stocks hit by OpenAI growth and funding fears; Musk claims OpenAI leaders “stole a charity” in court.

Kevin Warsh, US President Donald Trump's preferred nominee to lead the Federal Reserve, won the support of the Senate Banking Committee on Wednesday, putting him on track for a final confirmation vote by the Republican-controlled Senate.

Foreign Minister Penny Wong has urged China to resume exports of jet fuel, petrol and fertiliser to Australia, in order to continue receiving supplies of iron ore and gas.

US crude oil exports jumped to a record last week, as global buyers scramble to replace supplies disrupted by the war in Iran and closure of the Strait of Hormuz.

Plus: Outgoing Fed chair warns legal attacks are battering Fed's independence; Oil surges back to USD120 ahead of Big Tech earnings; Tim Ayres eyes more AI deals with tech giants.

Eli Lilly's profits and revenue grew strongly during the first quarter as consumer demand for its weight-loss drugs boosted performance.

The European Central Bank (ECB) and the Bank of England (BoE) held rates steady on Thursday, following the US Federal Reserve's decision to pause rates as rises in global energy prices caused by the US-Iran conflict in the Middle East impacts inflation.

The US economy grew at an annualised rate of 2% during the first three months of the year, coming in below expectations after the extended US government shutdown dampened growth in the tail-end of 2025.

Cotality's national home value index lifted 0.3% in April, marking the gauge's slowest pace of growth since early 2025, as Sydney and Melbourne home prices dragged down the national result.

Plus: Trump announces review of US troop levels in Germany; Canva, Anthropic deliver stark messages at Sunrise '26; US economy seen growing mostly AI as consumers tap brakes.