Posts by Yurie Miyazawa
Boeing union says talks halted as strike enters third week
BOEING’S largest union said talks with the planemaker have broken off as the two sides failed to reach a deal to potentially resolve a debilitating strike. There was no progress made on pensions, and the company “would not engage substantively” on issues such as higher pay and quicker wage progression, the International Association of Machinists…
Read MoreUAW urges Stellantis workers to authorise strike, accuses car maker of breaching contract
THE United Auto Workers (UAW) union asked the workers at Stellantis to authorise a strike, accusing the French-Italian car maker of breaking its contract promises, UAW President Shawn Fain said in a letter to the union’s US chapters on Friday (Sep 27). “We unanimously recommend to the membership that every UAW worker at Stellantis prepare…
Read MoreAssets in actively managed ETFs top US$1 trillion worldwide
ASSETS in actively managed exchange-traded funds (ETFs) worldwide hit a record US$1 trillion at the end of August, according to data provider ETFGI, boosted by easier regulations and a wave of product innovation. Active ETFs seek to outperform the indexes they are benchmarked to, including the S&P 500, the Nasdaq 100 and the Russell 1000…
Read MoreOpenAI is growing fast and burning through piles of money
OPENAI, the San Francisco startup behind ChatGPT, has been telling investors that it is making billions from its chatbot and that it expects to make a lot more in the coming years. But it has not been quite so clear about how much it is losing. OpenAI’s monthly revenue hit US$300 million in August, up…
Read MoreUS: Dow closes at record high as tame inflation report also lifts small caps
THE blue-chip Dow Jones Industrial Average closed at a record high as a subdued inflation report stoked hopes for more Federal Reserve rate cuts, which also boosted small-cap stocks and enabled Wall Street’s three main indexes to post weekly gains. The technology-heavy Nasdaq slipped for the day while the S&P 500 edged slightly lower, but…
Read MoreChina-linked stocks climb on bevy of stimulus measures
US-LISTED shares of Chinese firms and China-focused funds jumped on Friday (Sep 27) and are set for another day of strong gains, aided by the latest in a line of aggressive stimulus measures to propel economic growth in the world’s second-largest economy. The People’s Bank of China (PBOC) has lowered interest rates and reduced the…
Read MoreNews Corp-owned REA sweetens takeover offer for UK’s Rightmove to US$8.3 billion
AUSTRALIA’S REA Group, owned by Rupert Murdoch controlled-News Corp, bumped up its takeover bid for Rightmove to £6.2 billion (S$10.6 billion) on Friday (Sep 27), after the UK company rejected three of its previous offers. The new proposal from REA, a property listing firm, comprises an offer price of 775 pence apiece, a 17 per…
Read MoreAustralia’s Star plunges after US$1.2 billion loss; responds to show-cause notice
SHARES in Australian casino operator Star Entertainment slumped more than 50 per cent to a record low on Friday (Sep 27), as it resumed trading a day after posting a second straight multibillion dollar annual loss on a write-down in its venues’ value. The company wiped A$1.4 billion (S$1.2 billion) from the value of its…
Read MoreLVMH chief Arnault wins big on China stimulus with US$17 billion wealth surge
BERNARD Arnault entered Thursday (Sep 26) having lost more wealth this year than any other billionaire, with his luxury-goods fortune slumping by US$24 billion. Then China’s top leaders gave the green light to supercharge stimulus in the world’s second-largest economy. And with that, the French tycoon’s wealth has been given new life. Arnault’s net worth…
Read MoreUBS in talks on Indian minority-owned wealth joint venture, sources say
This may be the second country in the Asia-Pacific region where UBS enters an equity partnership with a local player UBS has been in talks to form an Indian wealth management joint venture with Mumbai-based 360 One Wealth and Asset Management, two sources with direct knowledge of the matter said. The joint venture would help…
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