Revenue grew 1368 per cent. Meta plans to raise $135 billion to fund AI investment.

The US 30-year Treasury yield climbed past 5.61%, marking its highest level since 2002. In New York trading, the S&P 500 fell 0.4%, led lower by the energy sector. Oil slipped below $104 a barrel after the US released more from its strategic petroleum reserve. Australia’s ASX 200 futures also dropped 0.4% as investors awaited August CPI data.

Uber’s delivery business in Australia said it will absorb the cost of higher pay for delivery drivers rather than pass it on to merchants and customers. The platform has been paying drivers a minimum guaranteed income of A$31.30 an hour since August following a Fair Work Commission decision. Uber Eats is betting that expanding from food delivery into other retail categories will generate enough revenue to protect its earnings.

A global selloff in bond markets has pushed government yields to multiyear highs, while escalating tensions in the Middle East lifted Brent crude to nearly $US109 a barrel and intensified inflation concerns. Investors are increasingly worried that highly valued equity markets are nearing a tipping point, and that central banks may be forced to raise rates in a way that triggers a recession. The Australian share market’s selloff has deepened amid those fears. A US Treasury debt buyback came in below expectations and did little to calm the bond-market turbulence.

Global markets came under pressure after President Donald Trump threatened to bomb Oman if it interferes with his negotiations with Iran on the Strait of Hormuz. Brent crude rose above $US90 a barrel as tensions in the Middle East escalated. ASX 200 futures fell 0.5%, while the S&P 500 was down 0.4%. Safe-haven demand lifted gold 0.7%, while the Australian dollar edged up against the US dollar.

Australian artificial intelligence infrastructure startup Sharon AI says its plan to list on the ASX is ready to proceed, with a prospectus set to be released soon. The company previously completed a $US1.6 billion private placement, but a key investor, hedge fund Situational Awareness, sold most of its stake after margin calls to repay creditors. The IPO’s progress and the shareholder change could affect market expectations for its valuation.

Australia’s S&P/ASX 200 fell 27 points, or 0.3%, in early trade on Monday, with 10 of 11 sectors in the red, while Brent crude eased to $US79 a barrel. The moves followed two company updates: Westpac’s sale of RAMS loans and FleetPartners’ disclosure of a A$770 million takeover offer from SG Fleet. Oil prices also came under pressure after US President Donald Trump said he had called off planned strikes on Iran, lifting expectations that the Strait of Hormuz could reopen and easing geopolitical tensions.

New Zealand retailer Briscoe Group released unaudited interim trading figures, showing 13-week sales to 26 July rose 0.25% year on year to NZ$193.4 million and half-year sales increased 0.8% to NZ$374.2 million. Sporting goods sales climbed 4.8%, supported by the FIFA World Cup and other major events. The company said it expects half-year net profit to be no less than NZ$27 million. Briscoe Group is due to publish its official half-year results next month.

Woodside Energy has had to switch steel suppliers in the United Arab Emirates to keep its large Louisiana LNG project on schedule after shipping through the Strait of Hormuz was disrupted. Higher oil and gas prices driven by the Middle East conflict lifted the company’s June-quarter revenue to $6 billion. The average price it received for oil and gas rose to $85 a barrel over the same period.