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Morning Bid: China's AI neophyte rocks Wall St ahead of Fed, mega-tech earnings
GLOBAL-MARKETS-VIEW-ASIA:Morning Bid: China's AI neophyte rocks Wall St ahead of Fed, mega-tech earnings
Strike Looms at US East Coast, Gulf of Mexico Ports
Talks between the International Longshoremen's Association (ILA), which represents 45,000 port workers, and the United States Maritime Alliance (USMX) employer group appear deadlocked on wage issues ahead of a Sept. 30 deadline to reach a new contract deal.
Most Investors Mull Portfolio Changes Ahead of US Election, UBS Survey Shows
Most wealthy investors are considering changes in their portfolios ahead of the Nov. 5 U.S. presidential election, according to a survey by UBS released on Thursday. As investors focus on the economic policies of the candidates, 77% of them are considering new allocations, the survey found.
Meta's Investment in Essilorluxottica Will Be 'symbolic', Zuckerberg Says
A prospective investment by Meta Platforms in eyeglasses maker EssilorLuxottica will be a "symbolic" gesture to cement their long-term partnership, CEO Mark Zuckerberg told technology news website The Verge.
Oil Prices Fall Over 2% on Prospects Saudi Arabia to Raise Output
Oil prices slumped on Thursday, reversing earlier gains, on news Saudi Arabia, the world's biggest crude exporter, will give up on its price target in preparation for raising output.
Dollar Hits 14-month Low Against Euro, Yuan Dips
The dollar hit a 14-month low against the euro on Wednesday as traders bet that the Federal Reserve will make another large rate cut at its November meeting on weakening labor optimism, while the yuan eased on growing doubts about the impact of a new round of Chinese stimulus.
Volkswagen Workers Threaten Strikes to Fight 'Historic Mistake' of Plant Closures
Union leaders threatened strikes and warned Volkswagen on Wednesday against an "historic mistake" as the two sides started pay talks that will likely determine how aggressively Europe's biggest automaker pursues layoffs and plant closures in Germany.
US New Home Sales Fall in August; Median House Price Drops
Sales of new U.S. single-family homes fell in August, but declining mortgage rates and house prices could stimulate demand in the months ahead.
Factbox-Most Banks Expect Gold's Bull Run to Persist Into 2025
Major banks expect gold to extend its record-breaking price rally into 2025 because of a revival in large inflows to exchange-traded funds (ETFs) and expectations of additional interest rate cuts from prominent central banks around the world, including the U.S. Federal Reserve.
White House Touts $1 Billion Fund to Help Auto Suppliers Retool for EVs
Investment firm Monroe Capital LLC said on Monday it plans to launch a fresh fund of up to $1 billion to provide loans for smaller auto suppliers as the industry shifts from gasoline-powered to electric vehicles.
Big UK Investors Poised to Buy the Dip in US Property
British investment managers Legal & General and Schroders are to invest hundreds of millions of dollars in commercial property in the United States, but are largely steering clear of the hard-hit office sector, the companies told Reuters.
Bitcoin Jumps to One-month High and Yen Grinds Even Lower
Bitcoin was the notable mover as it reached for one-month highs on Monday, sustaining its rally after the Federal Reserve's super-sized rate cut last week, while the yen extended its decline in markets thinned by a Japanese holiday.
Apollo Eyes $5 Billion Investment in Intel, Bloomberg News Reports
based asset management company Apollo Global Management has offered to make an investment of as much as $5 billion in Intel, Bloomberg News reported on Sunday.
TSMC and Samsung Discuss Building Middle Eastern Megafactories, WSJ Reports
TSMC and Samsung Electronics have discussed building huge factory complexes in the United Arab Emirates that could transform the chip industry in the coming years, the Wall Street Journal reported on Sunday.
Brazil Court Asks X for Documents as the Platform Starts to Comply With Orders
The Brazilian Supreme Court on Saturday asked Elon Musk-owned social platform X to present documents validating its new legal representative in the country, as the firm's lawyers now say it will comply with court demands to be allowed to resume operations in Brazil.
Qualcomm Approached Intel About a Takeover in Recent Days, Source Says
Qualcomm has in recent days approached Intel to explore a potential acquisition of the troubled chipmaker, a source familiar with the situation said on Friday, in what could be a transformational deal in the sector but faces many hurdles.
Biden defends economic legacy despite inflation surge during his term
(The Center Square) – President Joe Biden delivered remarks at the Economic Club of Washington, D.C., a nonprofit business group, on Thursday where he defended his economic legacy as his
Amazon Adds Chatbot for Its Sellers, Boosting Automation
Amazon.com announced on Thursday a new artificial intelligence application that it says will help its independent sellers with sales metrics, inventory maintenance and product advertising, among other things.
Dollar and Stocks Gain as Fed Charts Soft Landing
The dollar bounced, long-dated bond yields were up and Asian stocks surged after the Federal Reserve announced a 50-basis-point rate cut and flagged a measured easing cycle ahead, leaving open a path to a soft landing for the U.S. economy.
Can Pennsylvania's nuclear power save the PJM grid? Maybe
(The Center Square) — Pennsylvania relies on nuclear power more than any other state except Illinois — and there’s talk of growth.
Proposed contract would close Trent Shelter by Oct. 31, costing $16.8M since 2022
(The Center Square) – Under a proposed contract extension, Spokane’s Trent Shelter would close by the end of October; if approved, its total would surpass $16.8 million since opening in