Day: May 22, 2022
Asia-Pacific stocks set to open mixed as global concerns persist
SINGAPORE — Shares in the Asia-Pacific region were poised to open mixed on Monday as global concerns continue to plague markets. In Japan markets, the Nikkei futures contract in Chicago was at 26,920, while its counterpart in Osaka was at 26,750. The Nikkei 225 closed at 26,739.03 on Friday. Australia’s SPI futures were at 7,129, […]
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Oxfam calls for an end to billionaire ‘bonanza,’ say millions are falling into extreme poverty
Olga Shumytskaya | Moment | Getty Images A new billionaire emerged every 30 hours during the Covid-19 pandemic, and nearly a million could fall into extreme poverty at around the same rate in 2022. Those are the sobering statistics recently released by Oxfam. There were 573 more billionaires in the world by March 2022 than […]
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Stock futures rise after Dow falls for 8th-straight week in relentless sell-off
Traders on the NYSE, May 20, 2022. Source: NYSE Stock futures rose in overnight trading Sunday after the Dow Jones Industrial Average fell for its 8th straight week amid a broader market sell-off. Futures on the Dow industrial average gained 170 points, or 0.57%. S&P 500 futures added 0.7% and Nasdaq 100 futures rose 0.7%. […]
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Another baby formula shipment from Europe to arrive in the U.S. on Wednesday
Empty shelves show a shortage of baby formula at a Target store in San Antonio, Texas, May 10, 2022. Kaylee Greenlee Beal | Reuters FedEx Express has secured a government contract to bring another shipment of infant formula to the U.S. on Wednesday, NBC News reported. The Express plane will fly Nestlé baby formula from Ramstein […]
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Hyundai plans $5 billion investment in U.S. on mobility technology such as autonomous driving and robotics
Drew Angerer | Getty Images News | Getty Images Hyundai Motor said on Sunday it plans to invest $5 billion in the U.S. by 2025 to further develop mobility technologies in areas like autonomous driving, robotics, and A.I. The investment comes alongside the automaker’s recent announcement of a plan to spend $5.54 billion to build its first […]
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First baby formula shipment arrives from Europe on U.S. military plane
A military cargo plane carrying the first shipment of infant formula from Europe to address a critical shortage in the United States landed in Indianapolis on Sunday. A Feb. 17 recall by top baby formula maker Abbott Laboratories and the closing of its manufacturing plant in Sturgis, Michigan have created one of the biggest infant […]
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SpaceX looks to raise $1.7 billion in new funding, boosting its valuation to $127 billion
A Falcon 9 rocket launches a batch of Starlink satellites to orbit on April 29, 2022. SpaceX SpaceX is raising a massive round of fresh funding, CNBC has learned, sending the private company’s valuation to about $127 billion. The space venture is looking to bring in up to $1.725 billion in new capital, at a […]
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Turkey’s Erdogan discusses concerns with NATO hopefuls Sweden and Finland
Turkish President Tayyip Erdogan addresses members of his ruling AK Party (AKP) during a meeting at the parliament in Ankara, Turkey May 18, 2022. Murat Cetinmuhurdar/Presidential Press Office/Handout via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. NO RESALES. NO ARCHIVES. MANDATORY CREDIT Murat Cetinmuhurdar | Reuters Turkish President Tayyip Erdogan, who has […]
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Shanghai reopens some public transport, still on high Covid alert
Since March, mainland China has struggled to contain its worst Covid outbreak in two years. Notably, the metropolis of Shanghai, pictured here on May 18, only started this week to begin discussing resumption of normal activity — with a goal of mid-June. Hector Retamal | Afp | Getty Images Shanghai reopened a small part of […]
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Any potential recession will be ‘light,’ Qatar Investment Authority CEO says
The CEO of Qatar’s sovereign wealth fund believes that if the world sees a recession, it will be “light.” Rising fears of a looming recession pushed U.S. stocks briefly into a bear market on Friday, as Covid-19 related shutdowns in China, rising interest rates and a cost of living crisis impact investor sentiment. “The sell-off […]
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