Samsung Q2 Profit Seen Soaring as AI Memory Demand Keeps Chip Prices Elevated 
Chinese Copper Foil Maker Londian Files U.S. IPO as EV Battery Demand Grows 
Gold Price Surges Above $4,120 as Weak US Jobs Data Lowers Fed Rate Hike Expectations 
Northern Star Appoints New CEO as Activist Elliott Pushes for Leadership Overhaul 
EU Chip Industry Faces Growing Risks From China Export Controls and U.S. Technology Dependence: Report 
AI Memory Chip Shortage Likely to Persist Despite Korea Investment Boom, Nomura Says 
Japan Defense Stocks Rally on Report of New Defense Ministry Bureau for Global Cooperation 
Meta CEO Zuckerberg Says AI Agent Development Has Slowed Despite Massive AI Investment 
Asian Markets Slip as AI Earnings Season Looms, Oil Prices Fall Ahead of Key Fed Signals 
Turkey Vehicle Sales Fall 11.4% in June as Auto Market Weakens 
Tesla Q2 Deliveries Lift Chinese Auto Suppliers as EV Demand Improves 
Citi Raises TSMC Price Target as AI Chip Demand Strengthens Growth Outlook 
Moody’s Says Peru’s President-Elect Keiko Fujimori Could Boost Investor Confidence 
ShareChat Eyes 2027 IPO After Reaching Operational Profitability, Report Says 
Iran Begins Oil Sale Talks With Japan Under U.S. Sanctions Waiver Amid Shipping Risks 
Kioxia Bets on AI Memory Boom With Next-Gen NAND Production in Japan 
U.S. Dollar Drops as Weak Jobs Data Boosts Fed Pause Bets, Yen Jumps on Intervention Talk 
Sumitomo Corp shareholders defeated a resolution requiring the firm to align its business with international climate change targets at their annual general meeting.
The Japanese trading house's board is against the proposal.
Sumitomo is involved in two coal power projects in Asia, Vietnam's Van Phong 1 station and Bangladesh's Matarbari plant.
Companies and banks are being discouraged from investing in or financing fossil fuel projects like coal power plants, which is still strongly supported in Japan.
Eric Christian Pedersen, head of responsible investments at Danish fund manager Nordea Asset Management, noted that the proposal help investors correctly assess the company's transition risk and ambition level in addressing climate change.
The 2015 Paris Agreement requires countries to limit temperature rises to within 1.5-2 degrees Celsius of pre-industrial levels by curbing emissions.
Sachi Suzuki, senior engager at EOS at Federated Hermes, said they are not convinced that Sumitomo's net-zero commitment for 2050 and policy updates are not sufficiently aligned to limit global warming to 1.5C as it allows various exceptions and would not affect the plants already under construction.
A similar proposal was put before shareholders of Mizuho Financial Group last year and defeated by a margin of around 65-35, the bank said at the time.
