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Banks sell $5.5 billion loans for X Corp

Banks sell $5.5 billion in loans for X Corp as investor interest surges amid improving financial health and returning advertisers.

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Banks sell $5.5 billion in loans for X Corp as investor interest surges amid improving financial health and returning advertisers.

In Short

X Corp, formerly Twitter, is seeing renewed investor interest and financial stability after regaining major advertisers, leading to banks securing $5.5 billion in loans for the company. This uptick in confidence suggests a potential turnaround in its fortunes within the competitive social media landscape.

X Corp has experienced a resurgence in investor interest following improvements in its financial stability.

The company, which was formerly known as Twitter, faced significant challenges when advertisers withdrew from the platform after its acquisition by Elon Musk in 2022.

However, with Musk’s influence in Washington and the return of major advertisers like Amazon, Wall Street has become increasingly eager to invest in X.

Recently, banks completed the sale of $5.5 billion in loans secured by the company. Initially, banks aimed to sell approximately $3 billion at a value of around 95 cents on the dollar.

The significant uptick in demand from investors prompted them to increase the deal size.

This development indicates renewed confidence in X Corp’s financial prospects and suggests a potential turnaround for the social media platform.

As the landscape of social media evolves, X appears to be making strides in regaining its footing after a turbulent period.

 

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U.S. strikes Houthis in Yemen for shipping attacks

U.S. military strikes in Yemen target Houthi rebels following threats to maritime security and attacks on shipping.

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U.S. military strikes in Yemen target Houthi rebels following threats to maritime security and attacks on shipping.

In Short

The U.S. has launched military strikes in Yemen against Houthi rebels following their attacks on commercial vessels, with President Trump stating the goal is to protect American shipping. The strikes have resulted in civilian casualties and are part of a broader campaign to deter aggression and ensure navigational freedom.

The U.S. has initiated military strikes in Yemen against the Houthi rebels, following their attacks on commercial vessels.

President Trump announced on his Truth Social platform that these aerial attacks aim to protect American shipping and restore navigational freedom. He stated that the Houthis will be held fully accountable for their actions.

Local sources report significant explosions in San’a, with civilian casualties reaching 31 dead and 101 injured. Yemen’s Houthi Health Ministry condemned the strikes, labelling them a war crime.

The U.S. strikes targeted Houthi leaders’ residences and their strongholds, alongside missile systems positioned along the coast. U.S. military officials have indicated that this is part of a larger campaign against the group.

The USS Harry S. Truman carrier strike group is involved in the operation, which seeks to deter aggression from Iran-backed Houthi forces and protect American interests.

Tensions escalated after the Houthis announced their intent to resume attacks on Israeli ships, claiming the lapse of ceasefire agreements.

In retaliation, Trump ordered these military actions, which aim to target Houthi leadership and missile launchers, while also signaling a warning to Iran.

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Norris wins Australian GP as Piastri’s hopes dashed

Lando Norris triumphs at the Australian Grand Prix as Oscar Piastri faces heartbreak in his home race.

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Lando Norris triumphs at the Australian Grand Prix as Oscar Piastri faces heartbreak in his home race.

In Short

Lando Norris won the 2025 Australian Grand Prix amid chaotic weather conditions, while Oscar Piastri struggled at his home race, finishing far behind expectations. Despite scoring some points, Piastri and his supporters were disappointed with his performance.

Lando Norris achieved victory at the 2025 Australian Grand Prix, marking a strong start to his season. The race featured significant chaos, largely due to rain, affecting many drivers.

Oscar Piastri, competing in his home Grand Prix, faced disappointment as his race was derailed. Piastri’s team McLaren celebrated Norris’s success while he struggled on the track.

Aussie rookie Jack Doohan’s race ended prematurely after a crash in the early laps.

Piastri was positioned close to Norris when he lost control and spun onto the grass, dropping to the back of the pack.

Despite a determined effort to regain positions, Piastri’s race did not meet the expectations of him or his supporters.

In the final moments, he managed to score some points but it was not the outcome he desired.

Fans had hoped for a better performance from their local hero, but the race results proved challenging. The event highlighted the unpredictable nature of Formula 1, especially under adverse weather conditions.

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Trump’s tariffs threaten Australia’s pharmaceutical industry prices

Trump’s tariffs may jeopardise Australia’s $1.1 billion pharmaceutical exports, risking essential medicine prices and healthcare quality.

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Trump’s tariffs may jeopardise Australia’s $1.1 billion pharmaceutical exports, risking essential medicine prices and healthcare quality.

In Short

Trump’s tariffs on steel and aluminium raise fears they could increase medicine prices in Australia, threatening its $1.1 billion pharmaceutical export industry. Prime Minister Albanese criticises the tariffs as unjustified but has ruled out retaliation, while industry experts warn against using health policies as trading leverage.

Fears have emerged that President Trump’s tariffs could adversely affect Australia’s pharmaceutical export industry, potentially raising medicine prices.

The Trump administration recently announced 25 per cent tariffs on steel and aluminium imports, sparking concern that Australia’s pharmaceutical exports, valued at approximately $1.1 billion in 2024, could face similar tariffs.

Prime Minister Anthony Albanese condemned the US tariff actions as unjustified and detrimental, indicating he would not retaliate with similar measures.

The pharmaceutical industry is a significant part of Australia’s economy and is critical to the $18 billion federal scheme that reduces essential medicine costs.

The US aims to protect its declining steel industry amidst increasing competition from Asia, particularly Canada, Brazil, and the EU.

US companies claim that Australia’s medicine pricing policies affect their earnings, raising concerns that they might push to reconsider the Pharmaceutical Benefits Scheme (PBS).

The PBS was instrumental in lowering the costs of 930 medications last year.

The Trump administration previously blamed the high costs of US medicines partly on foreign nations benefitting from US investment without contributing fairly.

Calls have been made for the Australian government to maintain a strong stance against US influence over its domestic health policies.

Albanese has ruled out retaliatory tariffs, highlighting the negative impact of trade wars on consumers.

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