Nasdaq closes at record high, Fed’s Kashkari seeks more inflation data for rate cuts, GameStop soars
Texas Instruments has become the latest company targeted by activist investor Elliott, which has taken a $2.5 billion stake in the chipmaker.
BHP abandons bid to takeover Anglo American after multiple rejections
BHP Group on Wednesday said it would not be making a firm offer for Anglo American, shortly after the latter rejected a request to extend takeover talks.
Royal Mail owner agrees to ₤3.6 billion takeover by Czech billionaire Kretinsky
Royal Mail’s parent company International Distributions Services said on Wednesday it had agreed to a 3.57 billion pound formal takeover offer by Czech billionaire Daniel Kretinsky.
China’s $47.5 billion chip fund will likely focus on AI amid U.S. export curbs, NYU professor says
China’s new third chip fund will likely focus on advanced chips and establishing the entire supply chain, said Winston Ma, adjunct professor at NYU School of Law.
How Temu parent PDD dethroned Alibaba to become China’s most valuable e-commerce company
PDD Holdings reported stellar first-quarter results last week, sending its shares surging and driving its market-cap past that of rival Alibaba Group.
Union at Samsung Electronics in South Korea to take strike action
Samsung Electronics’ union will start taking strike action soon, including advising members as an initial protest to take annual leave, a union official said.
IMF upgrades China’s growth forecast to 5% on ‘strong’ first quarter and policy measures
The International Monetary Fund raised its forecast for China’s growth this year to 5%, from 4.6% previously, due to “strong” first quarter figures and policy moves.
CNBC Daily Open: Nasdaq tops 17,000; Exxon faces shareholder revolt
Texas Instruments has become the latest company targeted by activist investor Elliott, which has taken a $2.5 billion stake in the chipmaker.
Asia markets mostly lower after investors assess Australia inflation data
Investors in Asia assessed Australia’s inflation numbers for April, with the weighted consumer price index rising above expectations at 3.6%.
Morgan Stanley picks global stocks to ride the Nvidia boom — and gives 4 more than 50% upside
Morgan Stanley analysts say we are “far from topping out on AI,” which is set to create investment opportunities.
