Japanese technology investor SoftBank Group posted a sharp rise in quarterly profit on Wednesday as surging gains from its investment in OpenAI boosted the performance of its Vision Fund business. The company reported a net profit of 1.9 trillion yen ($12.05 billion) for the January-March quarter, compared with a profit of 517 billion yen in… Continue reading SoftBank’s OpenAI bet sparks $46 billion Vision Fund profit surge
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Allianz reports strong Q1 growth driven by asset management, India deal
Germany’s Allianz on Wednesday reported a 52% rise in first-quarter net profit, supported by gains linked to the sale of stakes in its Indian joint ventures and strong performance in its property and casualty and asset management businesses. The insurer said it remained on track to achieve its full-year operating profit target despite weaker revenues… Continue reading Allianz reports strong Q1 growth driven by asset management, India deal
Travel stocks under pressure as India signals push to curb overseas travel
Indian travel stocks came under pressure after Prime Minister Narendra Modi urged citizens to avoid unnecessary foreign travel, cut fuel consumption and defer gold jewellery purchases for a year, as the government sought to ease pressure on the rupee and contain rising import costs. The remarks, delivered on Sunday, were framed as a national appeal… Continue reading Travel stocks under pressure as India signals push to curb overseas travel
Asian stocks drop as inflation fears rise and Samsung leads Korea losses
Asian equities fell on Wednesday after a stronger-than-expected US inflation reading and stalled talks between Washington and Tehran undermined risk appetite, prompting investors to cut exposure to regional stocks and other growth-sensitive assets. South Korean shares led the decline, while Japan’s Nikkei and US equity futures also moved lower. The broader tone was risk-off across… Continue reading Asian stocks drop as inflation fears rise and Samsung leads Korea losses
What wiped $66 billion off Samsung’s market value in hours?
Samsung Electronics was expected to benefit from the AI boom, but is now facing a growing labor dispute. The world’s biggest memory-chip maker found itself at the center of a sharp investor selloff on Wednesday after wage talks with its South Korean union collapsed and the threat of an 18-day strike moved closer. Shares initially… Continue reading What wiped $66 billion off Samsung’s market value in hours?
Retail investors are flooding into this recently launched AI-themed ETF
The semiconductor landscape is witnessing a structural shift in retail capital allocation as the DRAM memory chip exchange-traded fund (ETF) emerges as a primary vehicle for AI infrastructure plays. Launched by Roundhill Investments on April 2nd, the fund has rapidly ascended to “darling” status among retail investors seeking targeted exposure to the memory chips supply… Continue reading Retail investors are flooding into this recently launched AI-themed ETF
Dow ends 50 points higher as Nasdaq slides on inflation, chip selloff
US stocks closed mixed on Tuesday as a selloff in semiconductor shares and rising oil prices pressured technology-heavy indexes following a hotter-than-expected inflation report for April. The S&P 500 slipped 0.16% to close at 7,400.96, while the Nasdaq Composite fell 0.71% to 26,088.20. The Dow Jones Industrial Average outperformed, rising 56.09 points, or 0.11%, to… Continue reading Dow ends 50 points higher as Nasdaq slides on inflation, chip selloff
Evening digest: Oil stays above $100, Warsh moves closer to leading Fed
US President Donald Trump said trade would dominate discussions during his upcoming summit with Chinese President Xi Jinping, even as tensions surrounding the Iran conflict continue to pressure global energy markets. Oil prices surged above $100 per barrel as hopes for a peace agreement between the US and Iran weakened further. Meanwhile, the US Senate… Continue reading Evening digest: Oil stays above $100, Warsh moves closer to leading Fed
Boeing stock slips as April deliveries miss expectations, lawsuit looms
Shares of Boeing fell on Tuesday after the aerospace manufacturer reported April aircraft deliveries that came in slightly below investor expectations, while the company also faced renewed legal scrutiny tied to its 737 MAX aircraft program. Boeing (BA) shares declined 2.98% to $231.11, putting the stock on track to snap a five-session winning streak. The… Continue reading Boeing stock slips as April deliveries miss expectations, lawsuit looms