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POSCO to invest AUS$300 million on tripling natural gas production in Australia

Sep 27, 2022 23:42 pm UTC| Business Economy Nature

POSCO International will invest AUS$300 million in its subsidiary, Senex Energy and Hancock Energy, to multiply its natural gas production threefold over the next three years. By the fourth quarter of 2025, POSCO hopes...

Rising obesity cases to hamper developing economies says report

Sep 27, 2022 23:33 pm UTC| Health Economy Business

Rising levels of obesity are set to cost the world economy 3.3 percent of GDP by 2060, slowing development in lower-income countries, according to a study published in BMJ Global Health. The conditions currently cost...

Hanwha eyes 49.3% stake in Daewoo Shipbuilding

Sep 27, 2022 16:18 pm UTC| Business Economy

Hanwha Group signed a conditional memorandum of understanding to acquire a 49.3 percent stake and managerial control of Daewoo Shipbuilding Marine Engineering Co. (DSME) The acquisition of DSME, the worlds...

Mubadala makes best offer for BPBunge while withdrawing Burger King Brazil offer

Sep 27, 2022 12:45 pm UTC| Business Economy

Mubadala made the best offer for ethanol joint venture BP Bunge Bioenergia while revoking its tender offer to buy a controlling stake in Brazils Zamp SA, owner of the Burger King Brazil. The Valor Economico newspaper...

McDonald's raises menu prices in Japan as yen sinks

Sep 27, 2022 09:33 am UTC| Business Economy

McDonalds is raising its menu prices in Japan, and this may affect about 60% of the restaurants offerings. It was reported that the increase is unavoidable due to the rising input costs and the exchange rates that are...

GSK allegedly poaches Burberry’s finance chief to form an all-female executive team

Sep 27, 2022 09:14 am UTC| Business Economy

GSK, a British pharmaceutical and biotech firm that was formerly known as Glaxo Smith Kline plc, announced that it had hired Julie Brown to be its new chief financial officer. The company said on Monday, Sept. 26, that the...

Netflix’s chief accounting officer ditches job post just 3 months after joining the company

Sep 27, 2022 08:37 am UTC| Business Economy

Netflix lost its chief accounting officer after Ken Barker submitted his resignation just three months after joining the company. With his decision to leave, he will also lose his $2.4 million salary. He was hired by...

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Economy

Oil Prices Slip as Oversupply Concerns and U.S.-Iran Talks Shape Market Outlook

Oil prices edged lower on Friday as improving global crude supplies and expectations of near-term oversupply continued to pressure the market, while traders reduced bearish positions ahead of the U.S. holiday weekend....

Gold Price Today: Bullion Heads for First Weekly Gain as Weak U.S. Jobs Data Eases Rate Hike Fears

Gold prices stabilized on Friday as weaker-than-expected U.S. nonfarm payrolls data eased concerns over additional Federal Reserve interest rate hikes, helping bullion recover after recently falling to an eight-month low....

China Services PMI Beats Forecasts as Strong Demand Supports June Growth

Chinas services sector expanded at a faster-than-expected pace in June, highlighting the resilience of the countrys economy despite ongoing challenges in domestic consumption. A private business survey released on Friday...

Japan Signals Readiness to Act on Yen as Intervention Speculation Grows

Japans Finance Minister Satsuki Katayama reiterated on Friday that the government is prepared to respond to excessive currency movements whenever necessary, reinforcing market expectations that Japanese authorities remain...

Moody’s Says Peru’s President-Elect Keiko Fujimori Could Boost Investor Confidence

Moodys believes Perus President-elect Keiko Fujimori is well-positioned to strengthen investor confidence by maintaining economic policy continuity and protecting the countrys key institutions. According to the ratings...

Politics

Air Force Investigates Officer After Capitol Protest Calling for Trump, Vance Impeachment

The U.S. Air Force has launched an investigation into an active-duty officer who publicly called for the impeachment of President Donald Trump and Vice President JD Vance during a protest outside the U.S. Capitol, drawing...

Venezuela Interim President Defends Earthquake Response as Death Toll Climbs

Venezuelas Interim President Delcy Rodriguez on Thursday strongly defended her governments response to the devastating earthquakes that struck the countrys northern coast, rejecting accusations that officials reacted too...

Taiwan Simulates Chinese Blockade and Invasion in Major Civil Defense Drill

Taiwan has stepped up its civil defense and military preparedness with one of its most comprehensive resilience exercises, simulating a Chinese blockade, cyberattacks, disinformation, infrastructure sabotage, a major...

US Appeals Court Limits ICE Detention Without Bond Hearings After 90 Days

A U.S. federal appeals court ruled that Immigration and Customs Enforcement (ICE) cannot detain migrants for more than 90 days without giving them an opportunity to seek release through a bond hearing, dealing a setback to...

Russia’s Deadly Kyiv Missile and Drone Attack Kills 27 as Zelensky Urges Faster Air Defense Support

Russia launched one of its largest air assaults on Ukraines capital, Kyiv, overnight, killing at least 27 people, injuring 91 others, and damaging around 130 buildings in the deadliest attack on the city this year....

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

Kuaishou Stock Jumps as Kling AI Secures $2 Billion Funding Round

Hong Kong-listed shares of Kuaishou Technology (HK:1024) climbed more than 6% on Thursday after its spun-off artificial intelligence business, Kling AI, secured an initial $2 billion in venture capital funding to...

Meta CEO Zuckerberg Says AI Agent Development Has Slowed Despite Massive AI Investment

Meta Platforms (NASDAQ: META) CEO Mark Zuckerberg has acknowledged that the companys progress in developing artificial intelligence (AI) agents has been slower than expected, despite Metas aggressive investment in AI...

Kioxia Bets on AI Memory Boom With Next-Gen NAND Production in Japan

Kioxia is set to mark a major milestone on Friday with a ceremony at its manufacturing facility in northern Japan as the company prepares to begin mass production of its next-generation NAND flash memory chips. The move...

OpenAI Proposes 5% U.S. Government Stake Amid AI Policy Talks

OpenAI has reportedly proposed granting the U.S. government a 5% ownership stake in the artificial intelligence company as it seeks to strengthen ties with Washington and address growing political scrutiny over the rapidly...

Apple Expands iPhone Lineup, Boosts Foldable iPhone Production Plans Through 2027

Apple is reportedly preparing one of its most ambitious iPhone product cycles in years, with plans to significantly expand its smartphone lineup through 2027 while increasing production targets for its highly anticipated...