Posts by Yurie Miyazawa
US: Wall St opens lower as valuation concerns, rate-cut jitters linger
[NEW YORK] Wall Street’s main indexes fell at the open on Tuesday (Nov 18), as concerns over lofty equity valuations and dimming chances of an interest rate cut from the Federal Reserve weighed on sentiment, while investors look ahead to Nvidia’s earnings and key government data due later this week. The Dow Jones Industrial Average…
Read MoreOil prices ease after loadings resume at Russian export hub
[HOUSTON] Oil prices eased on Monday as loadings resumed at Russia’s Novorossiysk export hub after a two-day suspension at the Black Sea port that had been hit by a Ukrainian attack. Brent crude settled 19 cents, or 0.3 per cent, lower at US$64.20 a barrel, while US West Texas Intermediate crude eased 18 cents, or 0.3…
Read MoreJ&J to buy Halda Therapeutics in US$3.05 billion cash deal
[NEW YORK] Johnson & Johnson has agreed to buy the cancer treatment biotech Halda Therapeutics for US$3.05 billion cash, part of a strategy to cope with eroding sales for its major psoriasis drug. Halda is testing a therapy for prostate cancer. The biotech is also testing drugs for breast, lung and multiple other tumour types,…
Read MoreHyundai pledges record US$85.8b investment in South Korea
Hyundai called it “the company’s largest-ever domestic investment commitment” [SEOUL] South Korean auto giant Hyundai Motor Group pledged on Monday (Nov 17) an unprecedented US$85.8 billion investment in the country over the next five years, a move that comes on the heels of Seoul’s trade deal with Washington. Hyundai called it “the company’s largest-ever domestic…
Read MoreEQT billionaire takes on Wall Street titans with big Asia push
The firm may not be a household name but it’s grown to become the largest non-US private equity firm in the world, with US$310 billion in assets [HONG KONG] Billionaire investor Jean Eric Salata’s first foray into Asia was painful: Five write-offs in India and mounting losses worth hundreds of millions of US dollars. Times…
Read MoreBoeing says partnership for T-7 trainer export bid imminent
[DUBAI] Boeing is close to announcing a partnership to bid for an international sales opportunity for its T-7 trainer, company executives said on Sunday (Nov 16), highlighting fast-growing demand for lightweight military training jets. Reuters reported in July that Boeing and Sweden’s Saab were in talks with Britain’s BAE Systems on teaming up on a…
Read MoreConsumers feel pinch at pump as Russia drives oil refining boom
(Bloomberg) – It’s a great time to be an oil refiner – but a less great time to be filling up at the pump. In Europe, the US and Asia, giant plants are making money by doing what they’ve always done: converting crude oil into vital fuels and selling them at a profit. What’s different…
Read MoreMusk’s Grokipedia leans on ‘questionable’ sources, study says
ELON Musk’s Grokipedia carries thousands of citations to “questionable” and “problematic” sources, US researchers said Friday (Nov 14), raising doubts about the reliability of the artificial intelligence (AI)-powered encyclopedia as an information tool. Musk’s company xAI launched Grokipedia last month to compete with Wikipedia – a crowdsourced information repository authored by humans that the billionaire…
Read MoreGoogle plans US$40 billion Texas data center investment amid AI boom
ALPHABET’S Google said on Friday (Nov 14) it would invest US$40 billion in three new data centers in Texas, as part of its push to expand capacity for artificial intelligence (AI) initiatives. The planned investment, which will be made through 2027, underscores the intensifying competition among AI and cloud service providers to build infrastructure capable…
Read MoreUS: Wall Street ends mixed; traders look to Nvidia report
WALL Street stocks ended mixed on Friday (Nov 14) as investors looked ahead to Nvidia’s quarterly results next week and worried that the Federal Reserve may hold off on cutting US interest rates in December. The Nasdaq ended higher and the S&P 500 finished marginally weaker after an early selloff that dragged all three major…
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