Reported 14 days ago
TSMC, the leading global contract chipmaker, announced a remarkable 39.1% increase in third-quarter net profit, reaching T$452.3 billion ($14.76 billion), driven by heightened demand for semiconductors in AI applications. This performance surpassed market estimates of T$417.7 billion, showcasing TSMC's strong position in the semiconductor industry.
Source: YAHOO
Reported 14 days ago
Gold prices have surged to a record high, exceeding $4,300 an ounce, fueled by concerns over economic credit quality, expectations of further monetary easing from the Federal Reserve, and escalating tensions between the US and China. With a remarkable increase of over 7% within the week, bullion's demand is being supported by both speculative bets on significant rate cuts and geopolitical uncertainties. The silver market has also seen a similar spike, reaching record highs due to liquidity issues, indicating a broader trend of investors seeking safe-haven assets amid ongoing instability.
Source: YAHOO
Reported 14 days ago
Singapore is establishing an Online Safety Commission with the authority to block harmful content on platforms like TikTok and Facebook, in response to escalating threats from deep fakes and online bullying. The agency will address serious online offenses, aiming to expand protections for victims and enhance overall online safety.
Source: YAHOO
Reported 14 days ago
Fifth Third Bancorp (FITB) is evolving into a 'super regional' bank after its acquisition of Comerica. The company provides diverse financial services across commercial, consumer, and wealth management sectors, with over 1,000 branches and $210 billion in assets predominantly in the Midwest and Southeast US. FITB’s strategic focus on technology and branch expansion is expected to bolster its financial strength, geographic reach, and deposit growth, positioning it competitively in the market.
Source: YAHOO
Reported 14 days ago
Ontario Premier Doug Ford has urged for economic retaliation against the U.S. following Stellantis' decision to shift Jeep Compass production from Canada to the U.S., attributing the move to U.S. President Donald Trump and its impact on workers in Brampton, Ontario.
Source: YAHOO
Reported 14 days ago
The Ontario premier has expressed criticism towards Trump after Stellantis announced its decision to relocate production from Canada to the US.
Source: YAHOO
Reported 14 days ago
Asian markets saw mostly positive trends following Wall Street's volatile session, where U.S. stocks declined due to rising worries about mid-sized banks and their loan practices. The S&P 500, Dow Jones, and Nasdaq all experienced losses, influenced by significant drops in Zions Bancorp and Western Alliance. Analysts are questioning the broader implications of these financial strains, especially after mixed economic signals, including a concerning decline in manufacturing activity.
Source: YAHOO
Reported 14 days ago
Oil prices fell to a five-month low as President Trump announced a meeting with President Putin to discuss the ongoing war in Ukraine, raising hopes for a potential truce and an increase in Russian crude supply. Despite initial expectations that India would cease buying Russian oil, Indian refiners indicated they would only reduce purchases. This situation is compounded by the tightening of sanctions on Russia's energy sector by Western nations and concerns about oil demand due to trade tensions between the US and China.
Source: YAHOO
Reported 14 days ago
A potentially catastrophic breach at F5 Inc., a major US cybersecurity provider, has been attributed to Chinese state-backed hackers. The attackers gained persistent access to F5's networks for over a year, stealing sensitive data including source code from the company's widely-used BIG-IP application services. Cybersecurity authorities in the US and UK have issued urgent warnings about the breach, emphasizing the significant risks posed to federal networks and organizations using F5 technology.
Source: YAHOO
Reported 14 days ago
Amid rising tuition, student debt, and a challenging job market, American colleges are striving to demonstrate the value of a degree. Research shows that while most bachelor's degrees still offer a positive return on investment within ten years, not all are financially beneficial, prompting many students to consider alternatives such as technical schools. Education leaders are actively working to bridge the gap between college offerings and labor market demands to ensure graduates acquire jobs that justify their educational expenses.
Source: YAHOO
Reported 14 days ago
Chinese coal prices are increasing due to unpredictable weather patterns and heightened government scrutiny of mining safety to prevent accidents and reduce overproduction. Despite a historically weak market, these regulatory measures are providing new support for coal prices. With notable safety concerns in key mining provinces like Shanxi, officials are ramping up inspections ahead of the upcoming Fourth Plenum. Additionally, varying weather conditions are influencing coal demand, creating uncertainty in future price movements.
Source: YAHOO
Reported 14 days ago
US Treasury Secretary Scott Bessent has urged Japanese Finance Minister Katsunobu Kato to stop Japan's energy imports from Russia, as part of efforts to curb funding for Russia's war in Ukraine. Japan, however, has maintained that it will continue importing liquefied natural gas from Russia, citing energy security concerns, despite pressure from the US. This makes Japan the only G7 nation not to have committed to ending Russian gas imports.
Source: YAHOO
Reported 14 days ago
The J.M. Smucker Co. has filed a lawsuit against Trader Joe's, claiming that the grocery chain's new frozen peanut butter and jelly sandwiches closely resemble its popular Uncrustables in both design and packaging. Smucker asserts that Trader Joe's sandwiches have similar crimp markings and use the same blue color for their boxes, violating Smucker's trademarks. The lawsuit seeks restitution and destruction of the infringing products. Smucker emphasizes its commitment to protecting its intellectual property after investing heavily in its Uncrustables brand.
Source: YAHOO
Reported 14 days ago
Global investors are increasingly bullish on Taiwan Semiconductor Manufacturing Company (TSMC) ahead of its earnings report, resulting in its American depositary receipts (ADRs) trading at the highest premium to Taipei shares since 2002. TSMC's strong position as a key supplier in the AI chip market, particularly for clients like Nvidia and Apple, has driven a 54% increase in ADRs this year. Analysts anticipate TSMC will raise its sales growth outlook, supported by robust demand in AI applications, despite ongoing concerns about the US-China trade war.
Source: YAHOO
Reported 15 days ago
President Donald Trump held an extravagant dinner at the White House for approximately 130 wealthy donors who contributed to the construction of a new $250 million ballroom. The event featured luxurious dining and decor, with attendees from major companies such as Amazon and Apple. Trump highlighted the ballroom's significance, predicting leftover funds after completion, while also revealing plans for an arch at Arlington Memorial Bridge. Approval for the ballroom project is still pending from certain commissions, but Trump stated he has the authority to proceed without zoning restrictions.
Source: YAHOO
Reported 15 days ago
President Donald Trump confirmed that he authorized the CIA to conduct covert actions in Venezuela to address the influx of drugs and illegal migrants into the United States. This decision comes amid growing tensions with Venezuelan President Nicolas Maduro and follows a report indicating the CIA may engage directly against Maduro's government. Trump highlighted a decline in drug trafficking by water since the U.S. initiated strikes against drug transport vessels in the Caribbean.
Source: YAHOO
Reported 15 days ago
American Battery Technology Co. has announced its intention to proceed with a $2 billion lithium mining and refining project in Nevada, despite the recent cancellation of a U.S. Department of Energy grant. Following the announcement, the company's stock plummeted over 35%, highlighting challenges in the clean energy sector amidst shifting government policies. CEO Ryan Melsert affirmed ongoing work towards the project’s completion by late 2027, having raised sufficient funds to cover costs previously expected from the grant.
Source: YAHOO
Reported 15 days ago
Billionaire Ken Griffin asserts that generative artificial intelligence has failed to assist hedge funds in achieving market-beating returns, stating it enhances productivity but falls short in uncovering investment opportunities. Speaking at the JPMorgan Robin Hood Investors Conference, Griffin emphasized that the technology hasn't replaced meaningful research at Citadel and is unlikely to create significant change in the industry.
Source: YAHOO
Reported 15 days ago
Samsung Electronics' shares soared to a record high, rising as much as 2% on Thursday amid positive investor sentiment in the semiconductor sector. The stock reached an unprecedented 96,900 won ($67.52) before settling at 95,900 won, marking an 80% increase this year.
Source: YAHOO
Reported 15 days ago
Electric aviation startup Beta Technologies has set its IPO share price between $27 and $33, aiming to raise up to $825 million. Founded in 2017, the Vermont-based company has bypassed venture capital, raising $1.15 billion from institutional investors instead. Despite a government shutdown, it filed for IPO, with a potential valuation of $7.2 billion and a strategic partnership with GE Aerospace to create hybrid-electric turbogenerators.
Source: YAHOO
Reported 15 days ago
Amber Beverage UK has acquired Ten Locks, a Manchester-based distributor owned by Kingsland Drinks, taking over UK distribution for its portfolio including El Tequileño Tequila and Lind & Lime gin. The financial details remain undisclosed, but ABUK aims to collaborate with brand owners and leverage existing strengths to enhance growth amidst the challenging drinks market.
Source: YAHOO
Reported 15 days ago
JM Smucker has filed a lawsuit against Trader Joe's in Ohio, claiming that Trader Joe's Crustless Peanut Butter & Strawberry Jam sandwiches infringe on their Uncrustables brand. The suit accuses Trader Joe's of launching a copycat product and seeks damages and injunctive relief, arguing that the retailer is unlawfully using Smucker's intellectual property.
Source: YAHOO
Reported 15 days ago
J.B. Hunt Transport Services exceeded earnings expectations in Q3, reporting an 8% year-over-year increase in operating income despite a slight revenue decline. The company is on track to reduce costs by over $100 million, having already cut $20 million this quarter. Shares jumped 12% after the results were announced, indicating strong market confidence despite challenges in the intermodal segment.
Source: YAHOO
Reported 15 days ago
US stocks declined on Thursday as worries about regional bank loan losses impacted market confidence amidst ongoing US-China trade tensions. The Nasdaq Composite fell by 0.5%, while the S&P 500 and Dow Jones Industrial Average both decreased approximately 0.6%. Despite some positive performance from AI-related stocks like Nvidia following strong earnings from TSMC, the overall market sentiment was dampened by fears of credit quality deterioration in the financial sector. Meanwhile, gold prices surged to new records as investors sought safe-haven assets.
Source: YAHOO
Reported 15 days ago
Ke Yang, who recently took on the role of leading Apple's AI-driven web search development, is transitioning to Meta, according to Bloomberg News. His departure follows a brief appointment to oversee a team critical to the Siri assistant's upgrade planned for March. Meta, facing fierce competition in the AI sector, has actively recruited talent from rivals, including Apple.
Source: YAHOO