Tag: Business
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SK Hynix set for marquee US debut in test for AI appetite
July 10 : SK Hynix’s U.S. trading debut on Friday following a $26.5 billion share sale will be a key test of investors’ belief in the durability of the AI boom, coming after a recent pullback in semiconductor stocks.Chip stocks have lost some momentum in recent weeks after a stellar run, partly due to investo
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Special delivery: Italy’s postman joins the AI infrastructure race
MILAN, July 10 : Italy has picked an unlikely champion to develop its technology infrastructure and protect digital sovereignty: its national postman.Poste Italiane, the postal service which pays out pensions through 12,600 post offices that are as much a feature of remote towns as the local church, is bettin
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Japan signals pension push into domestic assets, sparking rally in yen, bonds
TOKYO, July 10 : Japan’s finance minister said on Friday the government aims to steer the country’s vast state pension funds to “substantially” lift investments in domestic assets, sparking gains in the yen and bonds as investors bet billions of dollars could be channelled into Japanese markets.The comments p
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Oil heads for weekly gain as Middle East supply risks persist
NEW DELHI, July 10 : Oil prices rose on Friday and were set for weekly gains because of renewed fears of supply disruptions from the key Middle East producing region after renewed fighting between the U.S. and Iran this week curtailed shipping in the Strait of Hormuz.Brent futures were up 19 cents, or
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SK Hynix advisors win big fee windfall after modest SpaceX payday
July 10 : Global investment banks and brokerages leading SK Hynix’s mega share sale earned nearly $260 million in fees, a boost for the industry which took in a relatively modest $500 million from SpaceX’s record share sale last month.The fees equate to about 0.97 per cent of the total amount raised, SK Hynix
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Tencent in talks to become AI start-up Manus’ largest shareholder, FT reports
July 9 : Tencent is in talks to become Manus’ largest shareholder as investors seek alternatives after Beijing ordered Meta to unwind its $2 billion acquisition of the AI start-up, the Financial Times reported on Thursday, citing two sources.
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Japan’s wholesale inflation hits 3-year high as fuel costs, weak yen bite
TOKYO, July 10 : Japan’s wholesale inflation accelerated in June at the fastest pace in more than three years as firms aggressively passed on rising costs from the Middle East conflict, data showed on Friday, bolstering the case for further interest rate hikes.The data came in the wake of a Bank of Japan repo
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Japan will explore ways to encourage GPIF to boost domestic investment, minister says
(Corrects date to Friday, not Thursday, in first paragraph)By Makiko Yamazaki and Leika KiharaTOKYO, July 10 : Japanese Finance Minister Satsuki Katayama said on Friday the government wants to explore ways to encourage pension funds, including the Government Pension Investment Fund (GPIF), to increase
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Fast Retailing shares slide in Tokyo after Uniqlo operator’s results, yen warning
TOKYO, July 10 : Shares in the Japanese owner of clothing brand Uniqlo slid sharply on Friday after the company raised its profit forecast but warned about the impact of the weak yen.Fast Retailing slid as much as 5.1 per cent in early Tokyo trading. After the bell on Thursday, the company announced it was…
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OpenAI’s AGI deployment chief Fidji Simo to step down after medical leave
July 9 : OpenAI’s CEO of AGI deployment Fidji Simo said on Thursday she will step down from her full-time role and pivot to a part-time advisory position at the ChatGPT maker, following an extended medical leave for a neuroimmune condition.”Three months ago, I had to go on medical leave after a severe exacerb
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