News

Posted on June 14, 2024 by James Miller

Aluminum producer Novelis Inc. delayed its plan to raise up to $945 million in an initial public offering (IPO), citing adverse market conditions.  The postponement comes amid broader market turmoil, including India’s stock market instability following Prime Minister Narendra Modi’s party losing its parliamentary majority. Novelis, a unit of Hindalco Industries Ltd., is undergoing a […]

Posted on June 14, 2024 by James Miller

The Philippines aims to strengthen economic relations with Japan and the U.S., seeking tariff cuts on banana exports while exploring participation in a trilateral agreement on critical minerals.  During an interview on Monday, Trade Secretary Alfredo Pascual emphasized the need for economic strength to bolster strategic partnerships. Manila is advocating for a review of its […]

Posted on June 10, 2024 by James Miller

Southwest Airlines’ stock value is up by about 7% after Elliott Investment Management disclosed an 11% stake worth approximately $1.9 billion, making it one of the largest investors. Elliott has already called for leadership and board changes, criticizing the current management for poor financial performance despite strong travel demand in the airline industry. Elliott specifically […]

Posted on June 6, 2024 by James Miller

The United States, along with 13 other nations across Asia and the Pacific, signed key economic agreements under the Indo-Pacific Economic Framework (IPEF). This marks a significant step in Washington’s strategy to enhance its influence in the region. The agreements, announced during a briefing in Singapore by the U.S. Secretary for Commerce Gina Raimondo, focus […]

Posted on June 5, 2024 by James Miller

Russia’s two largest banks, VTB and Sberbank, announced plans to open branches in the annexed regions of Ukraine by July 2024. Both VTB and Sberbank are state-owned banks and are among the largest financial institutions in Russia. The decision to open branches in Donetsk, Luhansk, Kherson, and Zaporizhzhya is seen as a strategic move to […]

Posted on June 3, 2024 by James Miller

A shareholder lawsuit alleges that Elon Musk, who secretly acquired a significant stake in Twitter Inc. in 2022 before ultimately buying it, did so with the assistance of a Morgan Stanley banker. The suit claims that Musk received advice on how to avoid alerting the broader market to his purchases. According to the lawsuit, the […]

Posted on May 31, 2024 by James Miller

Google announced plans to invest $2 billion in Malaysia to establish its first data center and a Google Cloud hub in the region.  This development is part of a larger trend of U.S. tech giants expanding their infrastructure in Southeast Asia, highlighted by Microsoft’s recent commitment of $2.2 billion toward Malaysia’s cloud and AI infrastructure. […]

Posted on May 31, 2024 by James Miller

New orders for key U.S.-manufactured capital goods rebounded stronger than expected in April, accompanied by an increase in shipments. This signaled a moderate improvement in business spending on equipment at the start of the second quarter. Despite the positive uptick, challenges such as higher borrowing costs, a robust dollar, and subdued global demand continue to […]

Posted on May 29, 2024 by James Miller

ASML, a leading supplier of semiconductor manufacturing equipment, and Eindhoven University of Technology announced a joint investment of 180 million euros ($195 million) in semiconductor research over the next decade. The partnership aims to enhance semiconductor research by building an advanced cleanroom facility at Eindhoven University in The Netherlands. The university will contribute 100 million […]

Posted on May 28, 2024 by James Miller

China established a new $47.5 billion semiconductor investment fund to boost the development of its domestic chip industry. The fund, known as Big Fund III — the largest in the country’s history — includes contributions from the central government and major state-owned entities like the Industrial & Commercial Bank of China. This strategic move by […]