South Korea labor minister calls on tech firms to share excess AI profits with suppliers, staff: Reuters
South Korea’s labor minister called on the country’s major tech firms to share the spoils of their profits, warning of worsening inequality risks.
Asia tech stocks drop after Broadcom rattles AI trade and drags Wall Street names lower
Asian technology shares fell, tracking losses in U.S. semiconductor stocks after disappointing earnings Broadcom sparked a rotation out of AI-linked names.
CNBC Daily Open: Chips are down — but not for the Dow
Iran-backed Hezbollah rejected the U.S.-backed ceasefire terms agreed between Israel and Lebanon, demanding a full Israeli withdrawal first.
SpaceX blocked from early U.S. benchmark index entry as S&P reaffirms existing rules
S&P Global said Thursday it was not changing the requirements for entry into its major indices, dealing a setback to the IPO plans of Elon Musk’s SpaceX.
South Korea stocks fall over 5% as tech heavyweights follow plunge in Wall Street’s AI-linked names
Asia-Pacific markets fell on Friday as investors assessed a rotation out of chip stocks on Wall Street that lifted the Dow Jones Industrial Average to a record close.
Lululemon cuts annual outlook, citing ‘negative’ media commentary and disappointing product launches
Lululemon is expecting its situation to get a lot worse before it gets better, as it issued weak guidance for the full year.
Ships stranded in Persian Gulf quietly coordinate with U.S. Navy to exit Hormuz
Clashes erupted between the U.S. and Iran over commercial ships earlier this week.
Ramp hits $44 billion valuation as companies look to rein in AI spending
Ramp’s latest funding round was led by ICONIQ, GIC and the Ontario Teachers’ Pension Plan.
Bitcoin is weathering its ugliest week in months as narrative fades and liquidity rotates
Bitcoin is getting pummeled to kick off June as the market loses its dominant narrative and liquidity continues to rotate into other assets.
Oil prices fall 3% on report Trump reluctant to restart Iran war
President Donald Trump told aides that he won’t resume the war unless U.S. troops are killed, according to The Wall Street Journal.
