Business

Shares fall in Asia, with Kospi down 5.7%, while oil prices jump

Wednesday, August 19 by SRN News

BANGKOK (AP) - Shares slipped Wednesday in Asia after Wall Street pulled further from its all-time high as artificial-intelligence stocks resumed their decline. South Korea's Kospi led the regional retreat, dropping 5.7% to 6,487.34. The two biggest companies benefiting from the AI boom tracked... Read More.

Defense contractor Lyntris, shareholders raise about $298 million in downsized US IPO

Wednesday, August 19 by SRN News

Aug 18 (Reuters) - Lyntris and some of its existing stockholders raised $297.5 million in a downsized U.S. IPO after pricing below the marketed range and offering fewer shares, the defense contractor said on Tuesday, as the summer listing market draws to a close. The... Read More.

Morning Bid: Dancing robots, dumping bonds

Wednesday, August 19 by SRN News

A look at the day ahead in European and global markets from Tom Westbrook Long bond yields steadied near multi-decade highs and China's humanoid robotics giant Unitree leapt out of the blocks on debut on Wednesday, trading six times above its offer price. ... Read More.

China seen holding loan rates steady in August despite economic weakness

Wednesday, August 19 by SRN News

SHANGHAI, Aug 19 (Reuters) - China is widely expected to leave benchmark lending rates steady for a 15th consecutive month in August, a Reuters survey showed, despite recent economic data pointing to renewed weakness across the broader economy. The loan prime rate (LPR), normally charged... Read More.

China recovers rocket stage on land for first time, after earlier recovery at sea

Wednesday, August 19 by SRN News

BEIJING (AP) - China has successfully recaptured the first stage of a rocket on land for the first time, state media reported Wednesday, as the country seeks to advance its space program. Although this marks China's first successful recovery on land, it is the second... Read More.

Kenya triples its power target, aiming to expand use of nuclear and geothermal energy

Wednesday, August 19 by SRN News

NAIROBI, Kenya (AP) - Kenya has tripled its long-term target for expanding its renewable energy capacity to meet surging demand and support its industrialization, but that might not result in more affordable power for consumers. The plan calls for renewable power generating capacity of... Read More.

Shares in Chinese humanoid robot maker Unitree soar in Shanghai trading debut

Wednesday, August 19 by SRN News

HONG KONG (AP) - Shares of Unitree, one of China's largest humanoid robot makers, initially soared as much as 629% in its public stock trading debut Wednesday in Shanghai, in the latest highlight of investor optimism over China's technological advances. The company, founded in 2016... Read More.

US transport regulator resumes review of Union Pacific’s proposed Norfolk merger

Tuesday, August 18 by SRN News

Aug 18 (Reuters) - The U.S. Surface Transportation Board on Tuesday said it has resumed consideration of Union Pacific's proposed merger with Norfolk Southern, while stressing that the move does not signal approval of the $85-billion deal. • The board removed the proceeding from abeyance... Read More.

US court delays hearing on Google’s purchase of Spirit Airlines data as union objects

Tuesday, August 18 by SRN News

Aug 18 (Reuters) - A U.S. bankruptcy court on Tuesday delayed to September 9 a hearing to approve the sale of internal business data from bankrupt Spirit Airlines to Alphabet's Google for $10 million. The adjournment of the hearing, which was initially scheduled for Wednesday,... Read More.

JBS makes new bid for full control, delisting of Pilgrim’s Pride

Tuesday, August 18 by SRN News

By Neil J Kanatt and Andre Romani SAO PAULO, Aug 18 (Reuters) - Brazil's JBS, the world's largest meatpacker, on Tuesday said it wanted to buy the remaining shares of Pilgrim's Pride, in a fresh attempt to seek full control and a delisting of the... Read More.

Current Weather

Shares fall in Asia, with Kospi down 5.7%, while oil prices jump

Defense contractor Lyntris, shareholders raise about $298 million in downsized US IPO

Morning Bid: Dancing robots, dumping bonds

China seen holding loan rates steady in August despite economic weakness

China recovers rocket stage on land for first time, after earlier recovery at sea

Kenya triples its power target, aiming to expand use of nuclear and geothermal energy

Shares in Chinese humanoid robot maker Unitree soar in Shanghai trading debut

US transport regulator resumes review of Union Pacific’s proposed Norfolk merger

US court delays hearing on Google’s purchase of Spirit Airlines data as union objects

JBS makes new bid for full control, delisting of Pilgrim’s Pride

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