The rupiah has seen a significant strengthening, currently trading at Rp 15,000.

The Indonesian rupiah demonstrated resilience in Thursday's afternoon trade, gaining 141.5 points to IDR 15,893.5 against the US dollar, despite an initial 145-point decline. The currency's gains were attributed to the weakening dollar index, caused by concerns over the US economy, including high unemployment rates and persistent inflation, which have led to fears of a potential recession. Investors are also awaiting a reduction in the benchmark interest rate by the US Federal Reserve (Fed). The rupiah demonstrated volatility on Friday, ranging from IDR 15,820 to IDR 15,920, yet ultimately closed stronger. This shift in investor position was largely driven by indications from Fed Chairman Jerome Powell of a potential interest rate cut in September, coupled with weak labour market data. The market is now anticipating a rate cut of nearly 50 basis points in September.

https://investor.id/market/369548/rupiah-menguat-signifikan-bertengger-di-level-rp-15-ribuan

Profits plummet, Warner Bros takes US$11.2 billion loss

Warner Bros. Discovery (WBD) reported lower-than-expected second-quarter earnings, with a loss of $9.1 billion related to its TV network unit and a further loss of $2.1 billion from its merger action, bringing the total loss to $11.2 billion. CEO David Zaslav explained that market conditions have changed since the merger, and the decline in value aligns with the company's future prospects. Revenue for the quarter was $9.7 billion, falling short of Bloomberg's consensus expectation of $10.12 billion and declining 6% compared to the previous year. Free cash flow also decreased by 43% to $976 million, below the consensus expectation of $1.2 billion. WBD CFO Gunnar Wiedenfels cited several triggering events, including the difference between market capitalization and book value, weakness in the US advertising market, and uncertainty regarding the renewal of affiliate and sports (NBA) rights, which impacted the company's business planning. This is Warner's first report after the merger.

https://internasional.kontan.co.id/news/laba-anjlok-warner-bros-tanggung-kerugian-us-112-miliar