SHOPAL

In 'unprecedented' global chip slump, SK Hynix to halve investment as recession looms

In ‘unprecedented’ global chip slump, SK Hynix to halve investment as recession looms

Investment cut comparable to 2008-09 financial crisis Q3 profit plunges 60%, misses estimates Inflation, gloomy economic outlook weigh on demand SEOUL, Oct 26 (Reuters) – South Korea’s SK Hynix Inc (000660.KS) warned on Wednesday of an “unprecedented deterioration” in memory chip demand, deepening fears of global recession, and said it would slash investment after quarterly …

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Dollar absorbs suspected yen intervention, China data mixed

Dollar absorbs suspected yen intervention, China data mixed

https://tmsnrt.rs/2zpUAr4 Dollar buffeted vs yen by suspected BOJ intervention Shares pare early gains as China markets ease China GDP beats forecasts but retail sales disappoint Stg flat as Boris Johnson bows out of PM race SYDNEY, Oct 24 (Reuters) – The US dollar weathered another suspected blast of Japanese intervention to push higher on the …

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EXCLUSIVE Korean auto giant Hyundai investigating child labor in its US supply chain

EXCLUSIVE Korean auto giant Hyundai investigating child labor in its US supply chain

DETROIT, Oct 19 (Reuters) – Hyundai Motor Co (005380.KS), Korea’s top automaker, is investigating child labor violations in its US supply chain and plans to “sever ties” with Hyundai suppliers in Alabama found to have relied on underage workers , the company’s global chief operating officer Jose Munoz told Reuters on Wednesday. A Reuters investigative …

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Goldman plans major overhaul to combine key units - source

Goldman plans major overhaul to combine key units – source

Oct 16 (Reuters) – Goldman Sachs (GS.N) is planning a major reorganization to combine its biggest businesses into three divisions with its storied investment banking and trading businesses being merged into a single unit, a source familiar with the matter told Reuters. The plans, which are expected to be announced on Oct. 18 in conjunction …

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Wall St drops as consumer data stokes inflation worries

Wall St drops as consumer data stokes inflation worries

JPM reports higher-than-expected Q3 profit S&P 500, Nasdaq post weekly declines US consumer sentiment edges up October; inflation ests. worse Dow down 1.34%, S&P 500 down 2.37%, Nasdaq down 3.08% NEW YORK, Oct 14 (Reuters) – US stocks dropped on Friday as worsening inflation expectations kept intact worries that the Federal Reserve’s aggressive rate hike …

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US grocer Kroger carts away Albertsons for $25 a month but faces antitrust test

US grocer Kroger carts away Albertsons for $25 a month but faces antitrust test

Oct 14 (Reuters) – Kroger Co ( KR.N ) snapped up Albertsons Cos Inc ( ACI.N ) in a $25 billion deal on Friday, creating a US grocery behemoth to better compete with leader Walmart Inc ( WMT.N ) on prices while bracing for potential antitrust roadblocks. The mega merger between the No. 1 and …

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Wall Street ends down as two-day rally fizzles on data, Fed message

Wall Street ends down as two-day rally fizzles on data, Fed message

Stocks rise in late-day surge on oversold conditions US private payrolls increase in September – ADP Twitter eases from one-year high, Tesla falls 6% Energy stocks jump as OPEC+ agrees to oil output cuts Indices fall: Dow down 0.14%, S&P 0.20%, Nasdaq 0.25% Oct 5 (Reuters) – Wall Street stocks closed lower on Wednesday, unable …

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