Samsung Electronics is facing the threat of a large-scale labour strike after bonus payment talks between management and the company’s union collapsed.The strike, scheduled to begin on Thursday, could have major implications for South Korea’s economy and the global supply of memory chips.Around 48,000 workers are expected to participate in…
US stocks closed lower on Tuesday, with the S&P 500 and Nasdaq Composite extending their losing streaks to three consecutive sessions as rising Treasury yields and persistent inflation concerns weighed on investor sentiment.The S&P 500 declined 0.67%, while the Nasdaq Composite lost 0.84%. The Dow Jones Industrial Average fell 321.81…
Samsung stock plunged nearly 4% on Wednesday due to the prospect of the biggest strike in the company’s history, after talks with its South Korean labour union failed to produce a pay deal.Over 47,000 workers are poised to walk out for 18 days from May 21, raising fears of disruption…
Big Short investor Michael Burry is aggressively reallocating capital toward beaten-down stocks, warning the artificial intelligence (AI) boom increasingly resembles the dot-com era.According to him, a remarkable 87% of venture funding now targets AI, creating what he dubs an “asset bubble – plain and simple”.To hedge against it, Burry is…
Bitcoin price crashed to the important 50-day moving average as it continued facing major headwinds. Spot BTC ETF outflows are soaring, while the Coinbase Premium Index has remained in the red for weeks, a sign that American demand is falling. BTC was trading at $76,745, down sharply from this month’s…
Alibaba’s latest AI chip has given investors another reason to look past near-term profit pressure.The Chinese technology giant unveiled the Zhenwu M890 on May 19, a processor it says delivers three times the performance of its predecessor, with 144GB of GPU memory and faster chip-to-chip communication for heavy AI workloads.Alibaba’s…
China confirmed it will buy 200 Boeing jets following the Trump-Xi meeting in Beijing, marking the US planemaker’s biggest breakthrough in the Chinese market in nearly a decade.Beijing’s Commerce Ministry confirmed on May 20 that China plans to buy 200 Boeing aircraft, including GE Aerospace-powered jets and related parts.For Boeing,…
HSBC Chief Executive Georges Elhedery said on Wednesday that artificial intelligence would both eliminate and create jobs across the financial industry, as the bank moves to retrain employees to adapt to the technology-driven shift.Speaking at an investor day event, Elhedery said staff must embrace AI-led transformation rather than resist it,…
The effort to launch Truth Social-branded cryptocurrency exchange-traded funds has come to an abrupt stop after Yorkville America Digital, LLC, which was the sponsor of the ETFs application, wrote to the US Securities and Exchange Commission (SEC) requesting the withdrawal of the application.Yorkville America Digital indicated that the decision was…
European shares edged lower on Wednesday as investors remained cautious over inflation risks linked to the ongoing war, while markets closely monitored negotiations between the United States and Iran.The pan-European STOXX Europe 600 slipped 0.2% to 610.37 points as of 0701 GMT. Regional markets also traded lower, with Germany’s DAX…