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Samsung Electronics and union extend talks to avert strike threatening global supply chains
Reuters96d agoneutral
Samsung Electronics and union extend talks to avert strike threatening global supply chains

Samsung Electronics and its labour union plan to hold more talks on Tuesday in a bid to avert the biggest strike in the tech giant's history, amid concern that a walkout by more than 45,000 ‌workers could hit South Korea's economy and disrupt global supply chains. The threatened 18-day strike starting on Thursday comes amid an acute global shortage in ‌memory chips, which are essential components in AI data centres, smartphones and laptops. The shortage has fueled soaring profits at Samsung and its peers in recent months.

Global Bond Yields at Multiyear Highs on Mounting Inflation Risk
Bloomberg96d agoneutral
Global Bond Yields at Multiyear Highs on Mounting Inflation Risk

(Bloomberg) -- Global bond yields hovered near multiyear highs as rising energy prices stoked inflation concerns. Most Read from BloombergWinners and Losers From Trump and Xi’s Beijing Summit TalksUS and Iran Far From Deal as Bond Rout Piles Pressure on TrumpHormuz Oil Flows Creep Higher as More Supertankers ExitUS, Iran Stall on Hormuz Reopening as Oil Supplies TightenTrump Gets Revenge on Republican Who Voted to Convict HimWhile the moves were subdued compared with the rout that swept markets

Treasuries Fluctuate as 30-Year Yield Hovers Near 2023 Level
Bloomberg96d agoneutral
Treasuries Fluctuate as 30-Year Yield Hovers Near 2023 Level

(Bloomberg) -- Treasuries fluctuated in early US trading as a selloff in global bond markets eased and investors watched for any signs of progress in the talks between the US and Iran. Most Read from BloombergWinners and Losers From Trump and Xi’s Beijing Summit TalksUS and Iran Far From Deal as Bond Rout Piles Pressure on TrumpHormuz Oil Flows Creep Higher as More Supertankers ExitUS, Iran Stall on Hormuz Reopening as Oil Supplies TightenTrump Gets Revenge on Republican Who Voted to Convict Him

TSA Experiments With Off-Site Screening to Relieve Airport Congestion
The Wall Street Journal96d agoneutral
TSA Experiments With Off-Site Screening to Relieve Airport Congestion

Starting next month, passengers catching morning flights out of Boston Logan International Airport will be able to go through a Transportation Security Administration screening outpost in Framingham, Mass., rather than a terminal. Shuttle buses will then whisk them roughly 25 miles to the airport, where they will be dropped off beyond the security checkpoint, avoiding crowded parking lots, chaotic curbsides and flight check-in queues. Passengers will be able to check in and drop their bags at the remote terminal in Framingham, housed in a newly constructed temporary building.

China’s Xpeng begins mass production of robotaxis in Guangzhou
Reuters96d agoneutral
China’s Xpeng begins mass production of robotaxis in Guangzhou

Chinese electric vehicle maker Xpeng said ‌on Monday it had ‌begun mass production of its first ​robotaxi at its Guangzhou headquarters, targeting fully driverless operations by early 2027. The Tesla rival is accelerating ‌its shift ⁠toward driverless vehicles and humanoid robotics as competition ⁠intensifies in the world’s largest auto market. The new robotaxi, ​built on ​Xpeng's GX ​platform, is China’s ‌first "production-ready, pre-assembled robotaxi model developed entirely with in-house technologies," the company said.

As chip industry chases AI, U.S. national labs look to newcomers for supercomputers
Reuters96d agoneutral
As chip industry chases AI, U.S. national labs look to newcomers for supercomputers

In a nondescript building on Kirtland Air Force Base on the high desert of New Mexico, liquid-cooled supercomputers gurgle and hum their way through some of the most complex math problems the U.S. government seeks to solve: simulating how hypersonic nuclear weapons would ‌move through the earth's atmosphere, or what would happen if one nuclear warhead detonated near another. For more than a decade, the chips handling this secretive and demanding work ‌came from mainstream semiconductor firms like Nvidia or Advanced Micro Devices. But with those companies increasingly designing their chips for artificial intelligence and facing supply shortages, the managers in charge of the systems at Sandia National Laboratories, which operates ​the machines at Kirtland and is one of three U.S. labs tasked with developing and maintaining the nation's nuclear weapons arsenal, are increasingly unsure how they will find computing power for high-precision scientific work like theirs.

Trump tells Fortune on Intel stake: 'should have asked for more'
Reuters97d agoneutral
Trump tells Fortune on Intel stake: 'should have asked for more'

U.S. ‌President ‌Donald Trump said ​he "should have asked for ‌more" ⁠of a stake ⁠in ​Intel ​on behalf ​of ‌the U.S. government, in an interview ‌with ​Fortune ​magazine ​published ‌on Monday. (Reporting ​by ​Ananya Palyekar ​in ‌Bengaluru; Editing ​by Alex ​Richardson)

Goldman Says Central Banks Want More Gold for Their Reserves
Bloomberg97d agoneutral
Goldman Says Central Banks Want More Gold for Their Reserves

(Bloomberg) -- Central banks are expected to step up gold-buying, helping prices to recover by year-end, according to Goldman Sachs Group Inc.Most Read from BloombergWinners and Losers From Trump and Xi’s Beijing Summit TalksHormuz Oil Flows Creep Higher as More Supertankers ExitUS, Iran Stall on Hormuz Reopening as Oil Supplies TightenUS and Iran Far From Deal as Bond Rout Piles Pressure on TrumpTrump Gets Revenge on Republican Who Voted to Convict HimPurchases are expected to pick up to averag

Bloomberg97d agoneutral
Elon Musk Says He Wants to Get SpaceX IPO Underway ‘Pretty Soon’

(Bloomberg) -- Elon Musk said he’s back in Texas working on plans for an initial public offering of SpaceX as the rocket and artificial intelligence company gears up for the largest listing of all time. Most Read from BloombergWinners and Losers From Trump and Xi’s Beijing Summit TalksHormuz Oil Flows Creep Higher as More Supertankers ExitUS, Iran Stall on Hormuz Reopening as Oil Supplies TightenUS and Iran Far From Deal as Bond Rout Piles Pressure on TrumpTrump Gets Revenge on Republican Who Vo

Commonwealth Bank of Australia names Mary-Anne Williams as chief AI scientist
Reuters97d agoneutral
Commonwealth Bank of Australia names Mary-Anne Williams as chief AI scientist

Commonwealth Bank of Australia on Monday appointed Mary-Anne Williams as ‌its chief AI scientist in what the ‌bank said would be the first such role at ​an Australian lender. Williams would join from the University of New South Wales, where she serves as the deputy director of the varsity's AI ‌Institute, among ⁠other roles. CBA did not say when Williams would join.

Bond Rout — Heard on the Street Weekly Recap
The Wall Street Journal97d agoneutral
Bond Rout — Heard on the Street Weekly Recap

The S&P 500 tumbled 1.2% on Friday, the Nasdaq Composite fell 1.5% and the Dow Jones Industrial Average shed 537 points, or 1.1%. The 30-year government bond hit its highest closing yield in nearly 20 years, at 5.127%. President Trump said that he and Chinese leader Xi Jinping “feel very similar on Iran” and both want the conflict to end.

Gold Holds Decline as Hormuz Quagmire Keeps Inflation Fears High
Bloomberg97d agoneutral
Gold Holds Decline as Hormuz Quagmire Keeps Inflation Fears High

(Bloomberg) -- Gold held a decline as a lack of progress in reopening the Strait of Hormuz continued to fan inflation concerns that have sent bond markets tumbling. Most Read from BloombergWinners and Losers From Trump and Xi’s Beijing Summit TalksHormuz Oil Flows Creep Higher as More Supertankers ExitUS, Iran Stall on Hormuz Reopening as Oil Supplies TightenTrump Gets Revenge on Republican Who Voted to Convict HimUS and Iran Far From Deal as Bond Rout Piles Pressure on TrumpBullion was steady a

Oil Rises as Trump Renews Threats Against Iran With Hormuz Shut
Bloomberg97d agoneutral
Oil Rises as Trump Renews Threats Against Iran With Hormuz Shut

(Bloomberg) -- Oil rose for a third day as President Donald Trump again pressured Iran to come to a deal to end weeks of war and reopen the crucial Strait of Hormuz. Most Read from BloombergWinners and Losers From Trump and Xi’s Beijing Summit TalksHormuz Oil Flows Creep Higher as More Supertankers ExitUS, Iran Stall on Hormuz Reopening as Oil Supplies TightenTrump Gets Revenge on Republican Who Voted to Convict HimUS and Iran Far From Deal as Bond Rout Piles Pressure on TrumpBrent advanced abov

China’s Economy Succumbs to Slowdown and Reignites Stimulus Talk
Bloomberg97d agoneutral
China’s Economy Succumbs to Slowdown and Reignites Stimulus Talk

(Bloomberg) -- China’s growth slowed across the board in April with investment resuming declines, calling into question the government’s reluctance to add stimulus to the economy as a global energy crisis hits factories and consumers across the world.Most Read from BloombergWinners and Losers From Trump and Xi’s Beijing Summit TalksHormuz Oil Flows Creep Higher as More Supertankers ExitUS, Iran Stall on Hormuz Reopening as Oil Supplies TightenUS and Iran Far From Deal as Bond Rout Piles Pressure

Wall Street Races to Lift Targets on Japan’s Chip Darling Kioxia
Bloomberg97d agoneutral
Wall Street Races to Lift Targets on Japan’s Chip Darling Kioxia

(Bloomberg) -- Major Wall Street firms are doubling their price targets on Kioxia Holdings Corp. after the Japanese memory-chip maker gave a stronger-than-expected outlook.Most Read from BloombergWinners and Losers From Trump and Xi’s Beijing Summit TalksHormuz Oil Flows Creep Higher as More Supertankers ExitUS, Iran Stall on Hormuz Reopening as Oil Supplies TightenUS and Iran Far From Deal as Bond Rout Piles Pressure on TrumpTrump Gets Revenge on Republican Who Voted to Convict HimCitigroup Glo