Korean President Lee Jae Myung said his adviser’s viral post about redistributing profits from the AI boom was meant to start a broader public debate about how a potential tax windfall should be used. Lee said in a post on X that comments by his policy chief Kim Yong-beom amounted to “a review of a plan to distribute the national excess tax revenue generated from excess profits in the AI sector to...
Korean President Lee Jae Myung said his adviser’s viral post about redistributing profits from the AI boom was meant to start a broader public debate about how a potential tax windfall should be used. Lee said in a post on X that comments by his policy chief Kim Yong-beom amounted to “a review of a plan to distribute the national excess tax revenue generated from excess profits in the AI sector to the public as a citizen’s dividend.” There was no suggestion that company profits would be used to fund such payments, he said. Kim’s comments on Facebook were followed by sharp swings in Korean stocks on Tuesday as investors struggled to parse the scope of the proposals. The benchmark Kospi sank as much as 5.1%, then pared losses after the influential policy adviser clarified he wanted to tap “excess tax revenue” generated from the AI boom, rather than roll out a new windfall levy on corporate profits. Read More: Korea Roils Market by Floating ‘Citizen Dividend’ From AI Gains An official at the president’s office told Bloomberg News on Tuesday that Kim’s remarks represented his personal opinion and weren’t the subject of formal discussions. On Wednesday, the Kospi rose as much as 2.4%.
Global rice production is set to decline for the first time in a decade, tightening supplies of one of the world’s major food staples. Output in the coming 2026-27 season is seen at about 538 million tons, the first decrease in 11 years, the United States Department of Agriculture said in a global crop report on Tuesday. The largest declines are seen in India, Myanmar and the US, where the harvest...
Global rice production is set to decline for the first time in a decade, tightening supplies of one of the world’s major food staples. Output in the coming 2026-27 season is seen at about 538 million tons, the first decrease in 11 years, the United States Department of Agriculture said in a global crop report on Tuesday. The largest declines are seen in India, Myanmar and the US, where the harvest is seen falling 15% from last year as farmers plant less. Combined with record consumption and trade, that will curb global stockpiles. While the USDA didn’t elaborate on the reason, the fall comes as a spike in fertilizer and energy costs — driven by the war in Iran — are disrupting operations for farmers in Asia. Some growers are considering skipping plantings of the new crop, which is known for being fertilizer-intensive grain. In addition, the crop in India, the world’s top grower, could be hit by a lower-than-average monsoon . The annual rains, which start around June, are expected to be curbed by the looming El Niño weather pattern. The country’s exports are still expected to remain strong, while shipments from the US will shrink, the USDA said. Rice makes up a major part of diets across Asia, in particular. Smaller supplies risk raising consumer prices, which could feed into broader inflation, with nations including the Philippines already seeing an uptick . At the wholesale level, Thai white rice , a benchmark in Asia, has climbed about 15% since late March. Futures on the Chicago Board of Trade jumped 8% last week, the most in two years. A rice index from the United Nations’ Food and Agriculture Organization has also picked up, as the war-induced rise in energy prices pushes up production and marketing costs in most exporting countries. To get Bloomberg’s Business of Food newsletter in your inbox, click here .
Ring Energy ( REI ) priced previously announced underwritten public offering of 44.44M shares of common stock at $1.35 per share. Gross proceeds are expected to be about $60M. The underwriters have a 30-day option to purchase up to an additional 6.67M shares. The offering is expected to close on or about May 14. Net proceeds primarily to repay outstanding borrowings under its senior secured revolv...
Ring Energy ( REI ) priced previously announced underwritten public offering of 44.44M shares of common stock at $1.35 per share. Gross proceeds are expected to be about $60M. The underwriters have a 30-day option to purchase up to an additional 6.67M shares. The offering is expected to close on or about May 14. Net proceeds primarily to repay outstanding borrowings under its senior secured revolving credit facility, with any remaining funds earmarked for general corporate purposes. The stock price declined about 18% on Tuesday during after-market hours of trading. More on Ring Energy Ring Energy: Strategy Change Ring Energy, Inc. (REI) Q1 2026 Earnings Call Transcript Ring Energy, Inc. 2026 Q1 - Results - Earnings Call Presentation Stocks to watch on Tuesday after hours: REI, RCAT, AEP Ring Energy Non-GAAP EPS of $0.04 beats by $0.02, revenue of $73.7M beats by $3.8M
Siemens ( SMEGF ) plans a share buyback of up to €6B ($7B) as it reported stronger orders across its core divisions despite a challenging environment. The company said the new program, which can run for up to five years, reflects its continued disciplined capital allocation strategy and will provide flexibility to extend its ongoing buyback initiatives. More on Siemens Energy AG Siemens Energy AG ...
Siemens ( SMEGF ) plans a share buyback of up to €6B ($7B) as it reported stronger orders across its core divisions despite a challenging environment. The company said the new program, which can run for up to five years, reflects its continued disciplined capital allocation strategy and will provide flexibility to extend its ongoing buyback initiatives. More on Siemens Energy AG Siemens Energy AG (SMERY) Q2 2026 Earnings Call Transcript Siemens Energy AG 2026 Q2 - Results - Earnings Call Presentation Siemens Energy AG (SMNEY) Discusses Middle East Operational Impacts, Market Trends and Q2 Pre-Close Updates Prepared Remarks Transcript Siemens Energy AG GAAP EPS of €0.89, revenue of €10.29B; raises FY26 outlook Historical earnings data for Siemens Energy AG
(RTTNews) - European stocks may open on a positive note on Wednesday, though regional gains are likely to remain capped amid bets that the U.S. Federal Reserve may have to raise interest rates next year.
(RTTNews) - European stocks may open on a positive note on Wednesday, though regional gains are likely to remain capped amid bets that the U.S. Federal Reserve may have to raise interest rates next year.
On Tuesday, President Donald Trump reportedly made a personal 11th-hour appeal to Nvidia Corp (NASDAQ:NVDA) CEO Jensen Huang to join his China delegation after earlier concerns that the chipmaker's presence could intensify political scrutiny over U.S. semiconductor exports to Beijing. Trump Reverses Course On Jensen Huang's China Visit Huang was initially expected to skip the high-profile trip due...
On Tuesday, President Donald Trump reportedly made a personal 11th-hour appeal to Nvidia Corp (NASDAQ:NVDA) CEO Jensen Huang to join his China delegation after earlier concerns that the chipmaker's presence could intensify political scrutiny over U.S. semiconductor exports to Beijing. Trump Reverses Course On Jensen Huang's China Visit Huang was initially expected to skip the high-profile trip due to mounting criticism from Republican China hawks and concerns that his attendance could trigger "a
COPENHAGEN, Denmark, May 13, 2026 – Bavarian Nordic A/S (OMX: BAVA) announced today its interim financial results and business progress for the first three months of 2026.
COPENHAGEN, Denmark, May 13, 2026 – Bavarian Nordic A/S (OMX: BAVA) announced today its interim financial results and business progress for the first three months of 2026.
KØBENHAVN, Danmark, 13. maj 2026 – Bavarian Nordic A/S (OMX: BAVA) offentliggjorde i dag regnskab samt rapporterede på begivenheder for første kvartal 2026.
KØBENHAVN, Danmark, 13. maj 2026 – Bavarian Nordic A/S (OMX: BAVA) offentliggjorde i dag regnskab samt rapporterede på begivenheder for første kvartal 2026.