President Joe Biden announced a new $225 million aid package for Ukraine during a meeting with his counterpart, Volodymyr Zelenskiy, and pledged continued US support as Kyiv looks to turn the tide in the war with Russia. Biden said Friday part of the aid package would help Ukraine rebuild its electrical grid, which has been decimated by Russian […]
Chinese state-backed developer Poly Property saw sales fall by almost a fifth in May, adding to a mixed picture of the impact so far of Beijing’s historic measures to rescue its crisis-hit real estate segment. Poly Property booked sales worth 4.6 billion yuan (US$634 million) for projects spanning about 218,000 square metres (2.35 million square feet) at an […]
China’s securities watchdog said its moves to raise the bar for initial public offerings (IPOs), expel unqualified firms from stock exchanges and exercise greater scrutiny over high-frequency trading are ensuring the “survival of the fittest” although it does not expect delistings to “increase significantly in the short term”. Since the beginning of this year, a […]
Taiwan Semiconductor Manufacturing Co.-backed Vanguard International Semiconductor Corporation and Dutch chip designer and manufacturer NXP Semiconductors will build a $7.8 billion wafer manufacturing plant in Singapore. Vanguard will have 60% stake in the joint venture — VisionPower Semiconductor Manufacturing Company — while NXP will hold 40%, according to a joint statement released Wednesday. The VSMC plant will produce wafers for […]
FRANKFURT, June 6 (Reuters) – European Central Bank governors see a further interest-rate cut in July as unlikely after some stronger-than-expected economic data, with the focus now on their September meeting, five sources told Reuters. An ECB spokesperson declined to comment for this story. The ECB went ahead with its first reduction in borrowing costs since 2019 […]
CHICAGO, June 5 (Reuters) – The Association of Professional Flight Attendants (APFA), which represents over 23,000 American flight attendants, said on Wednesday that it unanimously rejects the latest proposal from American Airlines (AAL.O), opens new tab. The airline had offered its flights attendants immediate wage increases of 17% and a new formula for higher profit sharing […]
June 6 (Reuters) – Dolby Laboratories (DLB.N), opens new tab said on Thursday it was acquiring GE Licensing, an intellectual property business targeting the consumer digital media and electronics sectors, in a $429 million deal. The takeover, which aims to further Dolby’s existing licensing businesses, comprises over 5,000 GE patents. However, it excludes aerospace and defense IPs […]
LONDON — Enterprise tech giant Salesforce is opening an artificial intelligence center in London, making a bullish bet on the U.K. as a global technology hub. The U.S. software giant said in a statement Thursday that it is opening a more-than-40,000-square-foot facility in London’s Blue Fin Building, which can host over 300 people. It will be used […]
A look at the day ahead in U.S. and global markets from Mike Dolan Wall Street’s tech-led stock surge to new records has seen $3 trillion AI-champion Nvidia (NVDA.O), opens new tab replace Apple (AAPL.O), opens new tab as the world’s 2nd most valuable company in a market infused with interest rate cut excitement across the G7. With the European Central […]
Hindalco-backed aluminum recycling company Novelis has postponed its U.S. listing of over $900 million, citing market conditions. “Novelis will continue to evaluate the timing of the offering in the future,” the company said late Tuesday, without elaborating further. Source: WSJ