Latest Business News
AI-fueled rally pushes U.S. stocks to fresh records
U.S. equities extended gains for a fifth straight session as investors continued to bid up artificial-intelligence-related names. The S&P 500 and Nasdaq 100 both reached new highs, supported by chip strength, lower oil prices, and easing bond yields.
SK Hynix joins Micron in the $1 trillion market-cap club
South Korea’s SK Hynix surged as demand for memory chips remained intense, lifting its valuation above $1 trillion alongside Micron. Bloomberg said the move reflected persistent enthusiasm for AI hardware and semiconductor supply-chain beneficiaries.
Memory-chip rally grips Asian markets
Asian equities were buoyed by another wave of semiconductor buying, with chipmakers among the region’s strongest performers. The rally was tied to the same AI-driven optimism that lifted U.S. technology stocks to record levels.
BP chair ousted in governance shake-up
BP’s chair was removed in a notable board-level leadership change, adding fresh attention to corporate governance at a major energy company. The development came as energy markets were also moving on lower oil prices and geopolitical hopes.
Oil prices fall on hopes for Iran-related diplomatic progress
Oil benchmarks weakened as traders priced in the possibility of progress on Iran-related talks. Bloomberg reported that lower crude prices helped support the broader equity rally by easing inflation pressure and improving risk appetite.
Volvo strikes deal with Trump administration on connected vehicles
Volvo reportedly reached an agreement with the Trump administration to avoid a ban tied to connected vehicles and China-linked ownership concerns. The deal could remove a major regulatory overhang for the automaker and support its sales outlook.
Qualcomm reportedly expands with ByteDance deal
Qualcomm was reported to have struck a deal with ByteDance, broadening its business reach beyond smartphones. Bloomberg said the arrangement could help Qualcomm extend into data-center-related opportunities.
Samsung workers approve tentative wage agreement
Samsung Electronics’ union said members approved a tentative wage deal, with 73.7% of ballots cast in favor. The agreement follows negotiations between management and union leaders and reduces a potential labor distraction for the memory giant.
European car sales rise for a third straight month
New vehicle sales in Europe increased for the third consecutive month, rising 7% to 1.15 million in April. Consumer demand remained solid, with electric vehicle purchases continuing to support the market.
China uses trade pressure to push Brussels on Airbus dispute
Bloomberg reported that China is applying economic pressure involving Airbus as it tries to break a bureaucratic impasse with the European Union. The move highlights how industrial and trade disputes are increasingly being used as leverage in broader negotiations.
Russian airlines face worsening sanctions strain
Sanctions are expected to further weaken Russian airlines by limiting access to spare parts and repair expertise. That should increase maintenance pressure on domestic carriers and make fleet reliability harder to sustain.
Eli Lilly agrees to buy three vaccine developers
Eli Lilly announced plans to acquire three clinical-stage vaccine developers for as much as $3.8 billion. The deal underscores continued dealmaking in health care as large drugmakers seek to deepen their pipelines.