SK Hynix shares closed 4% higher after an initial drop in early trading as the chipmaker halted review of Solidigm IPO plans in the U.S.
SK Hynix shares jump over 4% after early losses as chipmaker scraps Solidigm IPO plans
Source: CNBC
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CNBC
Democratic socialist set to become D.C. mayor — and face Trump's pushback
Following Zohran Mamdani's election as New York City mayor, another democratic socialist is set to become mayor of Washington, D.C.
The Guardian
Oil hits five-month high as global stocks wobble on AI fears; retail sales in Great Britain fall as shoppers cut back - business live
Rolling coverage of the latest economic and financial news Heineken has warned British bars and pubs that the boom in popularity of weight-loss drugs could lead to a fall in sales of beer and cider. The world’s second largest brewer sent a presentation to British hospitality customers earlier this month warning that GLP-1 use – led by Ozempic and Wegovy – can reduce the desire to drink alcohol , which could lead to “fullness and fewer serves” of pints in pubs and bars. The jobs balance rose to 50.5 from 48.9 in September, consistent with a 9K month-to-month payrolls gain in October. Solid growth is helping, probably alongside an easing drag from the payroll-tax hike. …The steady recovery in jobs growth further undermines any case for waiting to hike rates. A November rate hike is a shoo-in, and we expect another rone in February. We are very close to adding a third hike in May or earlier
The Guardian
‘Overnight, everything was dead’: the Teesside fisherman turned activist dubbed the Mr Bates of the seas
When thousands of dying crabs washed up on a Yorkshire beach in 2021, Stan Rennie’s livelihood was immediately threatened. Five years later, he’s leading the fight back against toxic ocean pollution – and corporate coverups It was an otherwise typical day on 25 September 2021 when thousands of dead and dying crustaceans washed up on beaches in Yorkshire and the north-east of England. Early morning walkers and swimmers were aghast to find a sickening carpet of twitching, fitting crabs. It would be the first but not the last die-off, which would see the disappearance of vast swathes of integral native sea life along an extended stretch of coast, including seal pups. It would also see the decimation of the local fishing industry and, with that, a way of life. Continue reading...
The Guardian
Is a job guarantee the solution to mass AI unemployment?
An old idea springs anew as a chorus of influential voices predicts that AI may trigger crises of vast magnitude In a preface to his book Capitalism and Freedom, the American economist Milton Friedman famously observed that a crisis can propel once-fringe ideas into the political mainstream. “Only a crisis – actual or perceived – produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around,” he wrote. The job of intellectuals, thinktanks and economists, he argued, is to refine the quality of these ambient ideas, so that good ones are ready when disaster strikes. Continue reading...
CNBC
Corruption is voters' top issue ahead of midterm election, CNBC survey shows
Democrats have worked to contrast economic hardship with President Trump's surging net worth and his family's lucrative business dealings.
CNBC
Volvo Cars plunges 27% as CEO says China sales slump came 'faster than we thought'
The Swedish automaker cited a deteriorating environment led by "tougher" market conditions in China and the U.S., which "negatively affected free cash flow."