Bloomberg's Guy Johnson reports live from Rio de Janeiro on the key concerns for airline executives gathered at the International Air Transport Association's annual general meeting. (Source: Bloomberg)
Bloomberg's Guy Johnson reports live from Rio de Janeiro on the key concerns for airline executives gathered at the International Air Transport Association's annual general meeting. (Source: Bloomberg)
STORY: Jensen Huang's visit to South Korea paid off with a series of deals announced on Monday. The Nvidia CEO said agreements were reached with South Korean giants like SK Hynix and Naver. “We're seeing great demand. The business is booming around the world for more AI factories. And so that's the reason why we're entering this partnership.:" Huang's high-profile trip to the country began on Frid...
STORY: Jensen Huang's visit to South Korea paid off with a series of deals announced on Monday. The Nvidia CEO said agreements were reached with South Korean giants like SK Hynix and Naver. “We're seeing great demand. The business is booming around the world for more AI factories. And so that's the reason why we're entering this partnership.:" Huang's high-profile trip to the country began on Friday. It's seen him throw a baseball pitch, dine with top corporate leaders and meet a well-known gamer. It comes with the U.S. firm aiming to secure crucial memory chips to power its AI ambitions and draw new customers. SK Group said its SK Hynix and SK Telecom arms had agreed deals with Nvidia. Memory chip maker SK Hynix signed a multi-year technology partnership. It said this commits it to developing advanced types of memory for global AI data centres. SK Hynix and Nvidia said the deal would help supply keep pace with Nvidia's plans - which now include robotics, personal computers and AI supercomputers. “SK Hynix will continue to be Nvidia's largest memory partner. And this is a partnership and a friendship that has gone back a long time. I'm very proud of the contribution Nvidia has made to SK Hynix. Huang said the agreement was for more than two years with the option to keep extending. Nvidia said internet giant Naver and Doosan would also use its tech to help build AI data centres. Huang also said Nvidia is partnering with LG Group on electronics, mechanical systems and AI for humanoid robots. And he revealed Nvidia would deepen its partnership with Hyundai motor group across a range of AI initiatives. Huang also planned to meet Samsung's semiconductor business head later on Monday. Nvidia and its partners, including SK Telecom and Doosan Group, didn't reveal the value of the deals.
Dilok Klaisataporn/iStock via Getty Images Where’s the global economic meltdown? We’re 3 months into a war with Iran, the Strait of Hormuz closed. 20% of global LNG is shut down for the next 3 years, 20% of global crude oil production is being affected, 30% of global fertilizer supply is shut off, and roughly a third of global helium supply is bottled up in the gulf. Asia and Europe (to a lesser d...
Dilok Klaisataporn/iStock via Getty Images Where’s the global economic meltdown? We’re 3 months into a war with Iran, the Strait of Hormuz closed. 20% of global LNG is shut down for the next 3 years, 20% of global crude oil production is being affected, 30% of global fertilizer supply is shut off, and roughly a third of global helium supply is bottled up in the gulf. Asia and Europe (to a lesser degree) take the brunt of the damage, but the US isn’t immune from these supply chain disruptions. And yet... the global economy seems to be coping just fine, at least so far. The US economy in particular seems to have been almost unaffected except for the price of gas, although one can’t run the counterfactual. Is there a tipping point where the closure of the strait causes greater problems? There are a lot of people making that claim, but I’d be careful assuming anything. Markets find a way, and the global economy is already adapting to a world where the strait stays closed. When I review the US economy today, what I find is not a booming economy as Republicans claim or one that is obviously failing as Democrats seem to believe, but one that is so average it fades into the background. The US economy is growing at a trend. It is growing at the long-term average. It isn’t great, it isn’t terrible. There are problems in the details, but most things are just fine in aggregate. Inflation is higher than younger generations are accustomed to but feels pretty normal to old dudes like me. Real growth – despite all the hype around bitcoin and AI and the shale “revolution” and Web3 and blockchain and the “app” economy and the gig economy and 3D printing and the metaverse (I can’t believe people fell for the VR hype again) – is trending at the same 2 to 2.5% annual rate that has prevailed since 2010. And 2000. And 1990. And 1980. Yes, a few detours along the way, like the crash of ’87, the S&L crisis, the dot com boom and bust, the financial crisis of 2008, the Euro crisis in the earl...
(RTTNews) - German stocks tumbled on Monday amid lingering worries about geopolitical tensions, and concerns over possible rate hikes by the Federal Reserve following upbeat U.S. jobs data.
(RTTNews) - German stocks tumbled on Monday amid lingering worries about geopolitical tensions, and concerns over possible rate hikes by the Federal Reserve following upbeat U.S. jobs data.
Denmark’s medic reveals 34-year-old is in ‘good spirits’ Eriksen in hospital after losing consciousness on pitch Christian Eriksen is expected to be “discharged soon” from hospital after he appeared to collapse during Denmark’s friendly with Ukraine on Sunday. Television images showed Eriksen holding his chest in the 65th minute of the fixture at Odense Stadium, with the match quickly halted and a...
Denmark’s medic reveals 34-year-old is in ‘good spirits’ Eriksen in hospital after losing consciousness on pitch Christian Eriksen is expected to be “discharged soon” from hospital after he appeared to collapse during Denmark’s friendly with Ukraine on Sunday. Television images showed Eriksen holding his chest in the 65th minute of the fixture at Odense Stadium, with the match quickly halted and abandoned shortly afterwards amid concern for the former Tottenham and Manchester United playmaker. Continue reading...
Gold ( XAUUSD:CUR ) prices slipped to their lowest level in more than two months on Monday, as stronger-than-expected U.S. jobs data from last week reinforced expectations of a Federal Reserve rate hike, while renewed Israel-Iran strikes and attacks in Lebanon lifted oil prices and heightened inflation concerns. Spot gold fell 1% to $4,289.87 an ounce, leaving it down 0.3% year to date, after tren...
Gold ( XAUUSD:CUR ) prices slipped to their lowest level in more than two months on Monday, as stronger-than-expected U.S. jobs data from last week reinforced expectations of a Federal Reserve rate hike, while renewed Israel-Iran strikes and attacks in Lebanon lifted oil prices and heightened inflation concerns. Spot gold fell 1% to $4,289.87 an ounce, leaving it down 0.3% year to date, after trending lower since mid-April amid an energy-driven inflation scare. Silver ( XAGUSD:CUR ) fell 0.7% to $66.87, down 5% YTD. Following Friday's stronger-than-expected U.S. jobs report and a broader deterioration in risk sentiment that also weighed on equities, bullion closed below its 200-day moving average for the first time since October 2023."F or now, a combination of resilient economic growth, elevated inflation expectations, higher bond yields, a stronger dollar, and growing speculation that the Federal Reserve may need to raise rates in 2026 has created a challenging environment for gold, overshadowing longer-term supportive themes such as central bank buying, fiscal debt concerns, and geopolitical uncertainty," Saxo Bank's head of commodity strategy, Ole Hansen, said. Attention now turns to the $4,100–4,075 support zone, which marks both the March correction low and the 38.2% retracement of the 2022–2026 rally, Hansen added. On the upside, resistance may emerge at $4,432 (200-day moving average), and $4,490 (recent high). In metals, a sharp reduction in gross short positions combined with fresh long buying left gold increasingly vulnerable to a technical setback once key support levels gave way. That vulnerability was exposed on Friday when bullion broke below its 200-day moving average and recorded its first close beneath the trend indicator since October 2023, the brokerage said. "Silver, platinum, and palladium attracted relatively limited interest during the week." More on gold, Since 2022 Gold Gained A New Correlated Asset, And It Now Points To A 23% Upside Gold E...
Universal Music Group NV is speaking to investors ahead of a possible €1 billion ($1.15 billion) two-part bond sale on Monday, after rejecting hedge fund billionaire Bill Ackman’s takeover offer. The global music entertainment company, rated Baa1 by Moody’s Ratings and BBB+ by S&P Global Ratings, is tapping the bond market to refinance existing debt and fund general corporate activities, according...
Universal Music Group NV is speaking to investors ahead of a possible €1 billion ($1.15 billion) two-part bond sale on Monday, after rejecting hedge fund billionaire Bill Ackman’s takeover offer. The global music entertainment company, rated Baa1 by Moody’s Ratings and BBB+ by S&P Global Ratings, is tapping the bond market to refinance existing debt and fund general corporate activities, according to a person familiar with the matter who asked not to be identified. Universal Music has a €1 billion bridge loan arranged earlier this year that matures in late July, as well as a €500 million bond due in 2027, according to data compiled by Bloomberg. The bond offering includes a four-year tranche and a 10-year tranche, each with an expected size of €500 million, according to the person. A spokesperson for Universal Music didn’t immediately respond to an emailed request for comment. The deal is coming after Bill Ackman sold his €1.42 billion stake in the Amsterdam-listed Universal Music. The company rejected the hedge fund billionaire’s bid that would have valued Universal Music at about €56 billion, a price the company said “fundamentally and materially undervalues UMG.” BNP Paribas SA and Crédit Agricole CIB are acting as global coordinators for the bond sale, along with IMI – Intesa Sanpaolo, Mediobanca SpA, Mizuho Financial Group Inc., Morgan Stanley, Banco Santander SA, and Société Générale SA as active bookrunners. Issuer Profile Debt distribution: UMG NA Equity DDIS Capital structure: UMG NA Equity CAST Related securities: UMG NA Equity RELS Ratings history: UMG NA Equity CRPR This story was produced with the assistance of Bloomberg Automation