Micron sales triple 💾, HSBC job cuts axe ⚒️, Nasdaq tokenized stocks approved 📈

Micron Technology's second-quarter revenue nearly tripled as AI-related demand for memory is outpacing supply. The memory-chip maker on Wednesday posted a profit of $13.79 billion, or $12.07 a share, in the quarter ended in late February, compared with $1.58 billion, or $1.41 a share, a year earlier.

Marketscreener · 1 minute read

HSBC Holdings is weighing a wave of deep job cuts over the coming years as chief executive Georges Elhedery bets on AI to shrink its middle- and back-office footprint, one of the first signs of how the technology could reshape Wall Street workforces.

Straitstimes · 4 minute read

The number of companies suing for tariff refunds has spiked in recent weeks, a sign that many importers aren’t confident yet in the Trump administration’s plans to create a claims process after the US Supreme Court struck down the president’s trade policies.

Msn · 3 minute read

Japan refuted a U.S. intelligence assessment suggesting Prime Minister Sanae Takaichi's recent remarks on a possible Chinese invasion of Taiwan signified a significant policy shift. The controversy sparked tensions with China, leading to a decline in Chinese tourism, while Takaichi prepares for a summit with President Trump in the U.S.

CNBC · 3 minute read

Shares of Fannie Mae and Freddie Mac have fallen dramatically, reaching their lowest in over a year, due to uncertainty surrounding the Trump administration's reform plans for the mortgage finance sector. Analyst Henry Coffey has revised price targets downward, citing political delays and suggesting long-term scenarios where shares may lose value or take decades to yield returns, while alternative financing models like Lone Star's Residential Mortgage Fund IV are emerging to support non-agency loans.

Ainvest · 3 minute read

Elon Musk announced that SpaceX AI and Tesla will keep purchasing Nvidia chips, with Tesla designing a new AI chip tailored for autonomous driving systems and AI edge computing in robotics. SpaceX recently acquired xAI, and Tesla plans an AI chip production project launch in the coming week.

Yahoo Finance · 1 minute read

Market participants are searching for clear hints on the timing of the Bank of Japan’s next interest-rate hike. The Japanese yen could weaken to the threshold of 160 against the greenback if Gov. Kazuo Ueda is vague about the market impact of the Middle East conflict in his press conference, says Mizuho Securities economist Yusuke Matsuo.

Msn · 3 minute read

The UK plans to double tariffs on Chinese and foreign steel to save domestic plants, aiming for 50% of the UK's steel to be produced domestically, with a significant portion made in Wales. The £2.5bn strategy includes slashing steel import quotas by 60% and is part of efforts to align with global tariffs while transitioning to greener steel production methods.

The Guardian · 4 minute read

His diplomatic tone didn’t linger too long, as the US president threatened Iran to halt its attacks on regional energy facilities or face the wrath of the US military, in what he promised would cause damage with “long term implications”. “The United States of America, with or without the help or consent of Israel, will massively blow up the entirety of the South Pars Gas Field at an amount of strength and power that Iran has never seen or witnessed before,” Trump wrote.

Euronews · 5 minute read

Flow Traders, a leading market maker in exchange-traded products, has introduced a 24/7 over-the-counter liquidity service for tokenized assets, enabling institutional clients to trade blockchain versions of traditional financial products outside standard market hours. The new service provides continuous pricing for tokenized money-market funds, equities, and commodities, and is accessible via the firm's Digital Asset OTC platform.

CoinDesk · 4 minute read

The SEC has granted formal approval to Nasdaq's proposal to trade certain stocks in tokenized form, while maintaining traditional trading and settlement processes. Initially covering Russell 1000 stocks and specific index ETFs, the tokenized shares will align with their traditional equivalents in terms of rights and trading priority.

Yahoo Finance · 2 minute read

S&P Dow Jones Indices announced Wednesday that it is bringing the S&P 500 to the blockchain via the Hyperliquid platform, making it easier for investors to trade the most widely tracked equity index 24 hours a day. The company said it licensed its flagship stock index to Trade[XYZ], which is launching the first officially approved S&P 500 perpetual contract on the Hyperliquid blockchain. In simple terms, this means eligible non-U.S. investors can trade the S&P 500 onchain, around the clock, without using traditional stock exchanges.

Mexc · 3 minute read

Tempo has launched its blockchain, supported by Stripe and Paradigm, to enable AI agents to handle machine payments autonomously. This new infrastructure allows AI agents to transact for services like data access or computing power using Tempo's Machine Payments Protocol, expanding its initial stablecoin focus into AI-driven payments.

Yahoo Finance · 3 minute read