A class-action antitrust lawsuit filed in California accuses Samsung Electronics, SK Hynix, and Micron Technology of colluding to fix prices and restrict supply in the DRAM memory chip market. The complaint alleges the companies coordinated production shifts toward AI-focused high-bandwidth memory, limiting older chip output and driving prices up by as much as 700% since 2022. The case comes amid a global memory chip shortage … Continue reading Samsung, Micron and SK Hynix accused of spiking memory chip prices by 700%

Federal Reserve Chairman Kevin Warsh reaffirmed the central bank’s commitment to lowering inflation, saying price stability remains the Fed’s top priority even if it conflicts with political pressure for lower interest rates. Speaking at a European Central Bank forum in Portugal, he emphasized that the Federal Reserve will remain independent and will not adjust policy based on political considerations. Warsh declined to provide guidance on … Continue reading Fed will not be comfortable with inflation above 2%

Meta Platforms shares rose 8% after reports that the company is building a cloud business to sell excess computing power and potentially recoup its massive AI infrastructure spending. The move could involve offering either access to hosted AI models or raw computing capacity, placing Meta in direct competition with major cloud providers like Amazon, Microsoft, and Google. Investors reacted positively as the plan could help … Continue reading Meta pops 8% as company makes push to sell excess AI compute power capacity

British American Tobacco plans to cut around 9,000 jobs this year, including layoffs and outsourcing, as part of a major cost-cutting and restructuring effort. The company says the changes are aimed at becoming more “technology-enabled” and could deliver £600 million in annual savings by 2028. BAT is facing declining demand for traditional cigarettes and is increasingly investing in smoke-free products like vapes and nicotine pouches. … Continue reading British American Tobacco to slash 9,000 jobs as it turns to AI

Samsung Electronics and SK Hynix have announced a massive joint investment of about $518 billion to build a new semiconductor manufacturing hub in southwestern South Korea. The project, supported by President Lee Jae Myung, aims to expand production beyond the crowded Seoul region and strengthen the country’s leadership in AI-driven chip demand. Each company will construct new fabrication plants, though timelines have not yet been … Continue reading South Korean tech giants to build a $518 billion chipmaking hub

U.S. stocks were mixed on Wednesday, with the Nasdaq slipping as investors focused on upcoming earnings from Micron Technology while the Dow rose. Semiconductor and energy stocks weighed on the market, as Micron and other chip-related names fell and oil prices dropped sharply to multi-month lows. Treasury yields also declined, reflecting weaker energy prices and shifting market expectations. Analysts described the tech pullback as a … Continue reading Nasdaq closes lower as chip sell-off resumes; Micron shares extend losses

The Federal Reserve’s annual stress test found that the largest U.S. banks could withstand more than $708 billion in losses during a severe global recession while continuing to operate and lend. All 32 banks tested stayed above minimum capital requirements even under a harsh scenario involving rising unemployment, sharp drops in home and commercial real estate prices, and major loan losses. Key losses were concentrated … Continue reading Federal Reserve says banks can withstand $708 billion in losses amid overhaul of capital rules

U.S. manufacturing job cuts have risen to levels not seen since the 2009 financial crisis, excluding the early COVID-19 period, as factories face cost pressures and uncertain demand. S&P Global reported that while manufacturing output showed modest improvement in June, it was largely driven by inventory rebuilding rather than strong underlying demand. Economists warned that employment declines over several months reflect concerns about rising costs, … Continue reading Factory job cuts in June neared financial crisis and Covid levels

U.S. stocks fell on Tuesday as a tech sell-off intensified, with the S&P 500 and Nasdaq dropping sharply while the Dow finished mostly flat. The decline was driven by a global rout in semiconductor and memory chip stocks, which also dragged down markets in Asia, especially South Korea and Japan. Major chipmakers like Micron, AMD, Intel, and Qualcomm all saw significant losses, while semiconductor ETFs … Continue reading Nasdaq closes 2% lower, led by Micron, as global tech sell-off rattles markets

SpaceX announced a senior unsecured notes offering and disclosed it holds about $100.8 billion in cash as it prepares for major financing activity. The company plans to use the proceeds to repay bridge financing and support general corporate needs, though the final amount raised has not been officially stated. Sources indicate SpaceX is aiming to raise around $20 billion, with the offering expected to begin … Continue reading SpaceX kicks off bond sale days after record IPO, discloses over $100 billion cash pile

Oil prices rose slightly on Tuesday as investors reacted cautiously to signs of potential progress toward easing tensions in the Middle East. Brent crude and U.S. West Texas Intermediate both posted modest gains after earlier declines linked to a U.S. license allowing limited Iranian oil activity. Concerns remain that Iran could use oil revenues to rebuild its military, though U.S. officials emphasized restrictions on how … Continue reading Oil prices rise as investors continue to watch U.S.-Iran moves

Oracle is undergoing a major restructuring as its stock shows recent short-term declines but strong long-term gains over three and five years. The company is cutting about 13% of its workforce while investing heavily in artificial intelligence infrastructure and pursuing up to $50 billion in new capital. Much of its AI-driven backlog is concentrated among a few major customers, including OpenAI, raising concerns about dependency … Continue reading Oracle Cuts 21,000 Jobs As It Prepares $50 Billion AI Buildout

General Motors has reduced its electric vehicle ambitions and cut over 1,000 jobs at its Factory Zero plant in Detroit, replacing many of them with about 50 collaborative robots, or “cobots.” The company says the machines improve safety, ergonomics, and efficiency as EV demand slows and cost pressures increase. However, the United Auto Workers argues the automation is primarily a cost-cutting move that is eliminating union jobs … Continue reading GM replaces more than 1,000 workers with 50 robots at flagship Detroit plant

SK Hynix has overtaken Samsung Electronics to become South Korea’s most valuable listed company, driven by its leadership in high-bandwidth memory (HBM) chips used in AI systems. The surge reflects a more than 340% rise in SK Hynix’s shares this year as demand for AI infrastructure from companies like Nvidia and Google has accelerated. This shift highlights how AI has transformed memory chips from commodity … Continue reading Yum! Brands Sells Pizza Hut For $2.7 Billion

SK Hynix has overtaken Samsung Electronics to become South Korea’s most valuable listed company, driven by its leadership in high-bandwidth memory (HBM) chips used in AI systems. The surge reflects a more than 340% rise in SK Hynix’s shares this year as demand for AI infrastructure from companies like Nvidia and Google has accelerated. This shift highlights how AI has transformed memory chips from commodity products into critical components … Continue reading SK Hynix overtakes Samsung to become South Korea’s most valuable company

Federal regulators have ordered regional grid operators to speed up the process for connecting large energy users, including AI data centers, to the U.S. electric transmission system. The move is aimed at meeting rapidly rising electricity demand and strengthening U.S. competitiveness in artificial intelligence development. Energy Secretary Chris Wright pushed for the change, which tech companies welcomed as a way to reduce delays in securing … Continue reading Federal regulators order grid operators to speed power to energy-hungry AI data centers

The U.S. Department of Education announced that student loan borrowers who enroll in automatic payments will receive a temporary boost in their interest rate discount starting July 1. The discount will increase from 0.25 percentage points to 1 percentage point, lasting for two years from 2026 to 2028, reducing costs for borrowers who opt in. Officials said the change is intended to encourage more people … Continue reading Student loan borrowers will get an interest rate cut if they sign up for auto pay

Oil prices fell after the United States and Iran signed an interim peace agreement, easing earlier market concerns about continued conflict. Brent crude dropped about 2.3 percent in Asia, reversing a brief spike triggered by President Donald Trump’s warning that military strikes on Iran could resume if tensions escalated. The price decline brought oil closer to levels seen before the conflict began in February, signaling … Continue reading Oil prices fall, stocks rally as US, Iran sign framework to end war

Nvidia is preparing to raise at least $20 billion in debt, marking its first major bond sale since the start of the AI boom, with the total potentially reaching $25 billion. The company disclosed the plan in a regulatory filing and said the funds will be used for general corporate purposes, including refinancing existing debt. The move comes as other major tech firms tied to … Continue reading Nvidia plans to raise at least $20 billion

U.S. stocks surged on Monday, with major indexes hitting record highs as investors reacted positively to news of a U.S.–Iran peace agreement announced by President Donald Trump. The Dow Jones, S&P 500, and Nasdaq all posted strong gains, with the Nasdaq leading the rally on renewed strength in technology-related shares. SpaceX extended its sharp post-debut rally, rising nearly 20% as investor demand remained strong. Markets … Continue reading Dow climbs more than 450 points for record close

Japan’s central bank, the Bank of Japan, raised its policy interest rate to 1%, the highest level in over 30 years, marking a continued shift away from decades of ultra-loose monetary policy. The decision, which was widely expected, passed with strong support among board members and follows earlier rate increases as part of ongoing policy normalization. Officials cited rising inflation pressures, including higher energy costs … Continue reading Bank of Japan hikes rates to 1%, highest since 1995

Stock futures rose early Monday as investors reacted to President Donald Trump’s announcement of a U.S.–Iran agreement to end the war. Dow, S&P 500, and Nasdaq futures all climbed, while Asia-Pacific markets also posted strong gains led by South Korea and Japan. The optimism followed news that the Strait of Hormuz would reopen, helping ease geopolitical tensions and sending oil prices lower. Markets were also … Continue reading U.S. stock futures jump, Japan’s Nikkei surges 5%

Oil prices fell sharply after President Donald Trump announced a deal with Iran to reopen the Strait of Hormuz. U.S. crude and Brent futures both dropped by around 4–5% following the news of the agreement. Trump said the deal includes ending the U.S. naval blockade and allowing toll-free shipping through the strategic waterway. He added that the Strait would reopen after a formal signing ceremony … Continue reading U.S. crude drops nearly 5%

Gold futures fell more than 3.5% on Tuesday, dropping below $4,200 per ounce as the U.S. dollar strengthened. The decline followed a hotter-than-expected May inflation report, which raised expectations that the Federal Reserve could keep rates higher for longer or even hike again. Analysts said rising inflation and tighter monetary policy are making gold less attractive since it does not yield interest. Gold has also … Continue reading Gold extends losses to more than 3% after crucial inflation report

Inflation rose in May, with the Consumer Price Index increasing 0.5% for the month and 4.2% over the past year, driven largely by higher energy prices. Core inflation, which excludes food and energy, rose more modestly at 0.2% monthly and 2.9% annually, suggesting underlying price pressures remain softer. Energy costs surged 3.9% in May and are up sharply over the past year, while food and … Continue reading Consumer prices rose 4.2% annually in May, highest in three years