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Europe Roundup: Pound drops to one-month low ,European shares falls, Gold extends slide, Oil rises on supply outlook, Saudi speculator warning

May 23, 2023 14:09 pm UTC| Market Roundups Economy

Market Roundup UK Apr Public Sector Net Cash Requirement 13.667B,-0.572B forecast,18.886B previous UK Apr Public Sector Net Borrowing 24.74B ,17.50B forecast,20.71B previous French May Services PMI ...

Kakao Mobility Signs Partnership Deal With UK’s Vertical Aerospace for UAM Business

May 23, 2023 09:58 am UTC| Business Economy Technology

Kakao Mobility recently signed an agreement with England-based aircraft manufacturer Vertical Aerospace. They have agreed to offer commercial urban air mobility (UAM) services in South Korea and other territories. As...

Paramount+ to Merge With Showtime Next Month, Raises Subscription Prices

May 23, 2023 09:31 am UTC| Business Economy

Paramount Plus, an American subscription video-on-demand service, is set to merge with Showtime, and the date for the consolidation was confirmed to be on June 27. Paramount Global will combine its flagship streaming...

Samsung to Retain Google as Default Search Engine for Its Smartphones

May 23, 2023 08:43 am UTC| Business Economy Technology

Samsung Electronics Co. Ltd. decided to keep Google as the default search engine of its Galaxy smartphones. The news comes after it was reported last month that the company is considering a shift to Microsofts...

CJ CheilJedang Completes Construction of the World's Largest Frozen Pizza Factory in the US

May 23, 2023 08:26 am UTC| Business Economy

CJ CheilJedang finished the construction of its frozen pizza production plant in the United States. The facility has been described as the largest manufacturing facility for frozen pizza in the world. As per The Korea...

Tesla’s Decision to Ditch India Facility Plans Boosts Hope for Investment in S. Korea

May 23, 2023 08:19 am UTC| Business Economy

Tesla Inc. recently revealed it had scrapped its plans to build a gigafactory for electric vehicle production in India. The Austin, Texas-headquartered EV maker canceled the plans due to a year-long conflict with the local...

Prada, Adidas Collaboration Debuts High-End Soccer Boots

May 23, 2023 07:31 am UTC| Business Economy

Prada S.p.A and Adidas AG have joined forces to create and introduce a unique line of soccer shoes and boots. The companies unveiled their high-end soccer cleats collection that may be a little too classy for a football...

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Economy

Oil Prices Jump Nearly 3% as Iran Holds Firm on Hormuz Conditions

Oil prices surged on Monday as tensions between the United States and Iran fueled concerns over prolonged disruption to the Strait of Hormuz, a critical route for global energy supplies. Brent crude futures for November...

Nvidia China Chip Sales Report Sends Chinese Semiconductor Stocks Lower

Chinese semiconductor stocks fell sharply on Monday after a report suggested Beijing could allow some domestic technology companies to purchase advanced Nvidia chips, potentially increasing competition for Chinas homegrown...

UK Housebuilder Stocks Surge on New First-Time Buyer Loan Scheme

British housebuilder stocks rallied on Monday after the UK government announced plans for a state-backed equity loan program designed to help first-time buyers purchase new-build homes with deposits as low as 2.5%. The...

Japan Warns Markets Over Yen Weakness

Japans top currency diplomat Atsushi Mimura warned markets on Monday to take Tokyo and Washingtons recent message on the yen seriously, signaling that Japanese authorities remain prepared to respond to excessive currency...

U.S. Stock Futures Fall as Iran, Oil and AI Risks Rattle Markets

U.S. stock futures declined Monday as investors weighed renewed U.S.-Iran tensions, surging oil prices and growing concerns over artificial intelligence development. By 03:50 ET, SP 500 futures were down 0.42% at 7,710.7,...

Politics

California Bans Memecoins Issued by Public Officials Under New Law

California Governor Gavin Newsom has signed legislation barring public officials in the state from issuing memecoins, adding new restrictions aimed at preventing officials from financially benefiting from their public...

China Cuts Tariffs on U.S. Farm Goods but Excludes Soybeans

China is preparing to reduce tariffs on a wide range of U.S. agricultural products, including corn, wheat, meat and dairy, as Beijing and Washington move to ease trade tensions following last weeks summit between Chinese...

Bitcoin Slides Below $84K as Trump Signals Possible New Iran Strikes

Bitcoin and U.S. technology stocks started the new week under pressure as renewed uncertainty over the U.S.-Iran conflict weighed on risk appetite and pushed oil prices higher. Bitcoin (BTC) fell 1.3% to around $83,324 at...

Russian Bomb Strike on Kharkiv Injures 22, Including Children

A Russian guided aerial bomb struck an apartment building in Kharkiv, Ukraines second-largest city, injuring 22 people, including children, local authorities said early Monday. Kharkiv Mayor Ihor Terekhov reported the...

China, US Extend Trade Truce Through January 10 After Trump-Xi Summit

China confirmed Monday that its trade truce with the United States will be extended by two months through January 10, giving the worlds two largest economies additional time to assess existing agreements and pursue further...

Science

Blue Origin New Glenn Explosion Could Delay Launch Operations Until 2028

Blue Origin is facing a significant setback after a dramatic explosion involving its New Glenn rocket severely damaged a launch pad at Cape Canaveral, Florida. According to NASA Administrator Jared Isaacman, repairs to the...

Blue Origin New Glenn Rocket Explodes During Launch Pad Test, Delaying Space Ambitions

Blue Origin suffered a major setback after its uncrewed New Glenn rocket exploded during a launch pad test in Florida on Thursday, raising new challenges for Jeff Bezos space company as it competes with Elon Musks SpaceX...

SpaceX Delays Starship V3 Launch Ahead of Potential Record IPO

SpaceX on Thursday postponed the highly anticipated launch of its 12th Starship rocket test from Texas after technical issues interrupted the final countdown. The company now plans to attempt the Starship V3 launch again...

Trump Administration Releases New UFO Files and Apollo Mission Records

The U.S. Defense Department has released dozens of previously classified UFO-related files following an order from President Donald Trump, sparking renewed debate over unidentified anomalous phenomena (UAP) and government...

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

Technology

Vitalik Buterin Says Hegota Could Be Ethereum’s Last Conventional Fork

Ethereum co-founder Vitalik Buterin expects the Hegota upgrade planned for 2027 to become the networks final conventional hard fork before Ethereum shifts toward advanced cryptography, quantum-resistant technology and...

OpenAI Investigates Rogue AI Agents After Data Leaks and Security Incidents

OpenAI is continuing a broad investigation into unauthorized and unexpected activity by its AI agents, two months after disclosing that agents had broken containment and accessed Hugging Face systems. The ChatGPT developer...

TSMC Accelerates 2nm Expansion as AI Chip Demand Surges

Taiwan Semiconductor Manufacturing Co. (TSMC) is accelerating the expansion of its advanced 2-nanometre chip production capacity as rising demand from artificial intelligence and high-performance computing customers drives...

Morgan Stanley Raises TD Synnex Price Target to $359 on Strong AI Demand

Morgan Stanley raised its price target on TD Synnex Corp (NYSE: SNX) after the technology distributor delivered stronger-than-expected fiscal third-quarter results and an upbeat outlook, supported by accelerating...

OpenAI, Anthropic CEOs Summoned to Australia AI Inquiry

OpenAI CEO Sam Altman and Anthropic CEO Dario Amodei have been asked to appear before an Australian Senate inquiry into artificial intelligence following revelations that an OpenAI agent accessed the countrys Medicare...