Reported 15 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 15 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 15 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 15 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
Reported 15 days ago
Australia Post announced a $320 million investment to develop a massive parcel processing center in South Australia, set to open in 2028. This facility will be the largest in the country, with the capacity to handle 400,000 parcels daily, doubling current capabilities. The investment aligns with the increasing demand for e-commerce and will enhance delivery efficiency for customers, especially in South Australia, where online shopping has surged. Additional parcel facilities are also planned in other regions, indicating Australia Post's commitment to modernizing its operations and expanding its infrastructure.
Source: YAHOO
Reported 15 days ago
Ontario Premier Doug Ford has criticized U.S. President Donald Trump following Stellantis's announcement to move Jeep Compass production from Canada to Illinois. Ford condemned Trump's pressure on American automakers and suggested imposing tariffs if a trade deal cannot be reached. Concerns are rising about the impact on Canada's auto sector, which employs hundreds of thousands. The federal government has also warned Stellantis about meeting its commitments to Canadian workers as it continues to negotiate trade terms.
Source: YAHOO
Reported 15 days ago
In a recent letter, Triumph Financial CEO Aaron Graft discussed the unexpected endurance of owner operators in the trucking industry, citing lower fixed costs and the ability to pivot between jobs as key advantages. While owner operator invoice amounts have risen, fleet invoices have seen a decline, suggesting a self-regulating market. Challenges remain for smaller carriers, yet many have persevered longer than anticipated, amid government actions possibly tightening trucking capacity, which could influence future market stability.
Source: YAHOO
Reported 15 days ago
Salesforce anticipates generating over $60 billion in revenue by 2030, surpassing Wall Street predictions, driven by the rapid implementation of AI features in its cloud services. Despite some investor pressure for AI returns and a challenging economic environment, the company's shares increased by 4% in premarket trading. The revenue outlook does not include the effects of its pending $8 billion acquisition of Informatica, aimed at enhancing its AI capabilities. However, Salesforce has shown signs of slower growth, making it cautious about third-quarter projections.
Source: YAHOO
Reported 15 days ago
Hewlett Packard Enterprise (HPE) announced that its projected profits for fiscal 2026 will fall below Wall Street expectations, leading to an approximate 8.5% decline in its shares. The company is restructuring its operations to enhance its focus on artificial intelligence and networking after acquiring Juniper Networks, and it plans to merge several business segments into a new 'cloud & AI' category. Despite forecasting revenue growth of 17% to 22%, HPE's adjusted earnings projections are below analyst estimates, prompting concerns about job cuts related to the integration of Juniper.
Source: YAHOO
Reported 15 days ago
In recent comments, President Trump described the high tariffs on Chinese goods as 'not sustainable,' stirring hopes for a pause in escalating trade tensions with China. Despite his remarks, relations remain fraught, with China accusing the US of creating panic over its export controls. Trump confirmed his upcoming meeting with Chinese leader Xi Jinping and noted that tariff revenues have helped reduce the US budget deficit. Meanwhile, the impact of tariffs continues to ripple through various sectors, raising prices for American consumers.
Source: YAHOO
Reported 15 days ago
President Trump's recent rollback of electric vehicle incentives is set to diminish US EV sales, enabling Chinese competitors to enhance their global market presence. Critics argue that this move undermines America's position in the electric vehicle market, potentially posing national security risks as China strengthens its control over battery supply chains. Meanwhile, major US automakers are reducing their EV production amid uncertain market conditions, while Chinese brands like BYD and Geely expand aggressively into international markets.
Source: YAHOO
Reported 15 days ago
TSMC, the leading global chip producer, reported a record profit in Q3 and raised its revenue forecast due to strong demand for artificial intelligence applications. The company anticipates continued growth in AI-related spending, prompting a forecast of mid-30% revenue growth for 2025 and maintaining its capital expenditure target of up to $42 billion. TSMC's robust performance reflects sustained confidence in AI, despite some concerns about potential market bubbles in the sector.
Source: YAHOO
Reported 15 days ago
Core Scientific's board has called on shareholders to vote in favor of its proposed $9 billion sale to CoreWeave, highlighting potential benefits such as cost savings and synergies. The all-stock deal, valued at $20.40 per share, faces opposition from Two Seas Capital, the largest shareholder, who argues it undervalues the company and poses economic risks. Despite the dissent, the board believes this acquisition is the best path for its stockholders.
Source: YAHOO
Reported 15 days ago
Hillenbrand's stock surged over 18% after the company announced a $3.8 billion buyout agreement with an affiliate of Lone Star Funds. The deal, offering $32 per share at a 37% premium, will take the company private, leading to its delisting from the NYSE by early 2026, pending shareholder and regulatory approval.
Source: YAHOO