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Japanese Yen Surges Against US Dollar Amid Intervention Rumors

Key Points: The Japanese yen jumped sharply against the US dollar on Friday, pushing the dollar down 0.66% to 155.60. This sudden move follows a massive 3% rally in the yen on Thursday, attributed to suspected currency intervention by Japanese officials. Japan's top currency diplomat, Atsushi Mimura, warned traders that the government remains ready to step into the markets again. A wide gap between the...

Qantas and Jetstar Extend Flight Cuts as Global Fuel Crisis Worsens

Key Points: Qantas and Jetstar will extend their 5 percent domestic flight cuts through September due to soaring jet fuel prices. The ongoing Middle East conflict threatens the global aviation industry and caused an $800 million jump in fuel costs for Qantas. The Australian government secured an emergency shipment of 100 million liters of jet fuel to keep the transport sector moving. China supplies 32...

Sandisk Reports Massive Profit Jump and $42 Billion in AI Memory Contracts

Key Points: Sandisk announced $5.95 billion in quarterly revenue and a $6 billion stock buyback. The company locked in $42 billion in long-term contracts to prevent future price crashes. Artificial intelligence data centers sparked huge demand for the company's NAND storage chips. Sandisk expects next quarter sales to reach up to $8.25 billion, crushing Wall Street estimates. Memory chip maker Sandisk delivered a massive earnings...