No-frills airline EasyJet has agreed to be acquired by US firm Apollo in a deal worth £5.7bn. The agreement follows the withdrawal of a rival bidder, clearing the way for Apollo’s takeover.

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Nintendo significantly exceeded its first-quarter earnings estimates for the fiscal year. Strong sales of its games helped drive operating profit to 142.5 billion yen, or about $902 million, between April 1 and June 30. The company also benefited from refunds tied to US tariffs. Those refunds boosted its results, but customers are unlikely to receive any of that money, leaving the benefit with Nintendo rather than its players.

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Nintendo has reported a sharp rise in quarterly profit, driven largely by a long-awaited refund linked to Donald Trump’s tariffs. The Japanese video game company said profit climbed 53.5% to ¥147.4bn in the three months through June. That result was well above expert forecasts of ¥77.8bn. The company nevertheless recorded a decline in overall sales.

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Nintendo said its operating profit rose 150.5% to 142.6 billion yen in the April-June quarter. The Japanese games maker exceeded analyst estimates with the sharp increase. It attributed the result to brisk demand for software for the Switch 2. Refunds of U.S. tariffs also helped support the quarter’s profit.

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DoorDash issued a profit forecast that exceeded analysts’ expectations. The company attributed the outlook to a surge in paying subscribers. These members typically place takeout and grocery orders more often than people without memberships. The increase in orders is helping support the delivery company’s stronger earnings expectations.

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Block Inc. raised its full-year profit guidance on Wednesday. The company’s quarterly results exceeded expectations, supported by growth in both its Square and Cash App businesses. The stronger performance comes as Block’s revamp begins to take shape.

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US President Donald Trump says progress has been made in dealings with Iran. He nevertheless warned that Iran would face a “hard hit” if no agreement is reached. The remarks combine an assertion that negotiations are advancing with a direct threat of consequences should a deal fail to materialise. Trump did not provide further details about the progress or the possible action in the statement.

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Biologists have warned in a new report that ships currently stranded in the Strait of Hormuz could create a worldwide ecological risk when shipping returns to normal. They say the vessels may carry invasive species to locations around the globe after movement through the waterway resumes. The warning focuses on the possible spread of non-native organisms linked to the ships’ prolonged stay and later departure.

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US leader Donald Trump said the Strait of Hormuz would be opened again very soon. He described the discussions as very good, signalling confidence that an agreement could lead to the waterway’s reopening.

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Oil prices extended their decline for a third consecutive day as signs of progress raised optimism that an agreement could reopen the Strait of Hormuz. Such a deal could release supplies currently held up in the Persian Gulf. The market is focusing on whether negotiations can restore passage through the strategic waterway. The move follows two days of earlier losses.

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The United States is preparing to announce an agreement with Iran and Oman concerning the Strait of Hormuz on Wednesday, Axios reports. The news portal says the deal could remain in effect for more than 60 days. No other terms of the proposed arrangement are described. The development concerns coordination among the three countries over the strait.

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SpaceX performed better than Wall Street had expected. The update urges readers to catch up on the development.

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SpaceX exceeded earnings expectations in its first-ever quarterly report. The company is nevertheless continuing to burn through cash as it pursues CEO Elon Musk’s vision. That vision centers on an AI-powered future and the colonization of Mars. The report therefore portrays stronger-than-expected earnings alongside heavy spending to advance Musk’s ambitions.

SpaceXquarterly earningsElon Muskartificial intelligenceMars colonization

SpaceX reported its first quarterly results since becoming a public company on Tuesday. Revenue climbed 92%, supported by strong expansion in its Starlink satellite-internet and artificial-intelligence businesses. The company also unveiled a partnership with Nvidia involving chips for data centers. Despite beating expectations, SpaceX said AI-related costs weighed on its stock.

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SpaceX reported its first quarterly results since going public on Tuesday. Revenue nearly doubled from the comparable period, while operating losses narrowed sharply. The company attributed the strong performance to rapid growth in its Starlink satellite-internet business and its artificial-intelligence operations.

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SpaceX has released results for the April-to-June quarter, its first earnings report since going public. Revenue climbed 92%, helped by strong expansion in its Starlink satellite-internet business and its artificial-intelligence operations. Despite that sharp increase in revenue, the company reported a net loss for the quarter.

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Elon Musk’s SpaceX has reported a loss. Revenue rose by more than 90 percent from the same period a year earlier. That increase exceeded analysts’ expectations. The company therefore posted a smaller-than-expected loss despite remaining in the red.

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Iran has warned the United States not to direct traffic in the Strait of Hormuz. The warning focuses on US activity in the strategic waterway. Tehran is objecting directly to any such role. The statement highlights tensions surrounding movement through the strait.

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Qatar says efforts to mediate between the United States and Iran are continuing. Signals from Washington and Tehran have been contradictory. Tehran has rejected President Trump’s assertion that talks are already under way. Qatar’s statement indicates that, despite the mediation effort, no direct US-Iran discussions are currently planned.

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Oil prices declined as hopes grew that the Strait of Hormuz might reopen. US Secretary of State Marco Rubio and Treasury Secretary Scott Bessent each said talks had advanced. The discussions are aimed at enabling shipments to resume. Their announcements helped strengthen expectations of renewed passage through the strategic waterway.

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Big Oil companies are reporting extraordinarily large profits while the Iran war disrupts energy flows. The critical Strait of Hormuz remains closed, creating a stark backdrop to the industry’s financial gains. The combination of a major wartime disruption and record earnings raises questions about how oil producers are benefiting as the key waterway stays shut.

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US Treasury Secretary Scott Bessent says an agreement between the United States and Iran could be concluded as early as August 4-5. He says the arrangement would guarantee freedom of navigation through the waterway. The statement presents the prospective deal as addressing passage through the waterway and the two countries’ negotiations.

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