News

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 […]

Posted on May 22, 2024 by James Miller

Oil prices experienced a marginal decline of less than 1% on Monday, influenced by statements from U.S. Federal Reserve officials expressing caution about interest rate cuts until further signs of declining inflation are observed. Despite data indicating a decrease in consumer price pressures in April, top Fed officials remain hesitant to conclude that inflation is […]

Posted on May 20, 2024 by James Miller

Ahead of reporting its first-quarter results on Wednesday, Target announced that it will reduce prices on over 5,000 products, including milk, diapers, meat, and fresh produce.  The cuts follow previous reductions on items like frozen chicken breast and shredded cheese. Rick Gomez, Target’s Chief Officer of Food, Essentials, and Beauty, emphasized the company’s commitment to […]

Posted on May 20, 2024 by James Miller

Retail sales in the United States showed no change from March to April, defying economists’ expectations for growth. According to data released by the Commerce Department, this stagnation reflects the continued impact of inflation and high interest rates on consumer spending. April’s flat sales shifted from the 0.6% increase observed in March to a rise […]

Posted on May 17, 2024 by James Miller

On Thursday, the Biden administration proposed ending new federal coal leases in the Powder River Basin – the most prolific coal mining region in the U.S. This initiative is part of efforts to reduce greenhouse gas emissions from coal combustion, aligning with environmental and public health objectives. This proposal follows a 2022 court ruling criticizing […]

Posted on May 16, 2024 by James Miller

Gazprom, Russia’s state-owned energy giant, reported a $7 billion annual net loss, its first since 1999.  The loss was due to a sharp decline in European gas sales amidst sanctions and geopolitical tensions.  In 2022, Gazprom’s gas exports to Europe were 63.8 billion cubic meters (bcm), but this volume fell by 55.6% to 28.3 bcm […]

Posted on May 15, 2024 by James Miller

President Joe Biden announced substantial increases in U.S. tariffs on various Chinese imports, including electric vehicles, computer chips, and medical products. This move could potentially lead to a political clash with China during an election year. The new tariffs extend those imposed by former President Donald Trump and intensify others, quadrupling duties on electric vehicles […]