Finance news

Salzgitter: Steel company takes over HKM – 2,000 jobs will be lost

The 2,000 jobs are expected to be eliminated by the end of 2028. An alternative to job cuts would have been to close the factory.

The 10K AI Blunder !!!!!!!

Ran a small-cap industrial supplier's 10-Q through AI before earnings instead of reading it myself. Asked about their debt maturity schedule. Got a clean answer: current portion manageable, nothing due soon. Held the position. Two months later, stock dropped 40% on a liquidity crunch. Reread the filing myself. Page 61, a table with several debt tranches stacked by maturity date. The AI had read down the wrong column, pulled a later date instead of the one actually due that quarter. Not a halluci

AI chips: Meta starts production of new AI chip

Meta will bring its AI chip “Iris” into production in September. The company wants to become more independent of Nvidia and invest billions in AI data centers.

Auto industry: Struggle over VW savings plans - nationwide protests

VW wants to save even more, the supervisory board is discussing possible plant closures and job cuts. IG Metall is countering this with nationwide campaigns.

China aims to revive physical stores, make them ‘immersive’, as shield against e-commerce

With retail sales growth cooling in May to the slowest pace since December 2022 and persistent weakness in big-ticket items extending through last month, Beijing has stepped in to reinvigorate bricks-and-mortar operators facing intense price competition from e-commerce platforms. The Ministry of Commerce, together with eight other relevant authorities, on Thursday released guidelines to accelerate the innovative development of the retail sector. The document charts out a path for differentiated.

US-China AI war boils down to a contest over electricity

The proliferation of artificial intelligence models and the increasing parity in their performance suggest they are becoming a commodity. Soon, AI services will be priced by cost rather than the uniqueness of their model. With electricity the main cost of the services, the AI war between China and the United States is turning into a straightforward contest over electricity output and price. Open-source AI models are sprouting up like bamboo shoots in China. The American AI community has argued..

Ukraine Hits Two Russian Fuel Tankers as Moscow's Fuel Crisis Deepens

Ukraine hit two fuel tankers overnight offshore Russia’s southern coast in an expanding campaign to deepen the fuel crisis in Russia. The two tankers were hit in Taganrog Bay, the northeastern arm of the Sea of Azov in the southern Russian Rostov region. Yury Slyusar, the governor of the region of Rostov, posted on Telegram early on Thursday that two tankers were hit in the Taganrog Bay. The vessels suffered “mechanical damage” and caught fire, while no injuries or casualties were reported by th

Artificial Intelligence: Monopoly Commission: German industry misses AI transformation

The Monopolies Commission attests that German companies are dangerously slow to introduce artificial intelligence. The advisory committee is demanding less regulation from the state.

There’s promise — and pitfalls — in the Army’s low-cost interceptor plan, experts say

Two analysts and a former defense official praised the Army’s new LCI program, while also pointing to concerns over production bottlenecks, budget constraints and testing procedures.

Verdict on unlimited tariffs: Can mobile phone providers unilaterally terminate the contract at any time?

Isn't it the principle of contracts that they apply to both parties? No, said a mobile phone provider when canceling tariffs with unlimited data volume. Now there is an OLG ruling.

went 30% cash on tuesday when iran escalated,now i am questioning every decision I made.

I made what felt like a sensible call tuesday evening, moved 30% of my portfolio to cash when I saw US iran strikes breaking and felt validated on wed when the fow dropped 576 points and oil spiked 5%. Well today futures are mixed,the selloff seems to be stabilizing and energy and defense rotation is continuing but the broader panic appears to be cooling and alsoo pepsico is reporting Q2 earnings before the open this morning ( a stock I trimmed tues thats down 16% from highs) The exit was clean

Oil: Traffic in the Strait of Hormuz comes to a virtual standstill - oil prices rise

Before Iran attacked two tankers in the strait, the oil market had begun to recover. The development has now reversed. What could move the price now.

Scalable multiple reference accounts

Hello everyone, my bank account A is deposited with SC. My original bank account B is also shown in the overview. However, account A is active. If I transfer an amount from B, will it be rejected? Does the money always have to come from the actively deposited reference account? I have 2 bank details and sometimes switch back and forth. Thank you! submitted by /u/Vegetable-Map7801 [link] [comments]

Authorities investigate suspected fuel leak from cargo plane at Hong Kong airport

Authorities are investigating a suspected fuel leak from a cargo aircraft at Hong Kong airport that prompted an emergency response from police and firefighters, the South China Morning Post has learned. A source said the airport control centre alerted police to a fuel leak from a Boeing 747 cargo aircraft operating flight CV531 at around 8.32am on Thursday, later confirmed to be from the aircraft’s left wing. “The aircraft was parked outside the Cathay Pacific Cargo Terminal at that time,” a...

Billion dollar deal: Deutz wants to buy arms manufacturer FFG

The oldest engine manufacturer in the world has long wanted to emancipate itself from pure combustion engines. Now the Cologne company is taking a big step.

China automakers shift gears to exports as domestic demand weakens

Taiwan's exports rise nearly 50% in first half as Lai builds 'AI island'

Klingbeil's tax reform: With just 3,000 euros gross, employees become losers

Finance Minister Lars Klingbeil promised to relieve the burden on small and medium incomes. But calculations for the F.A.Z. show: This will only happen next year. In 2028, the net will decrease for many compared to today.

Trump says Iran called to make a deal after U.S. strikes; adds it's unclear if war is back on

When asked whether the U.S. and Iran are returning to a full-scale military conflict, Trump responded: "I don't know."

Why AI race with US is a ‘knockout game’ China cannot afford to lose

China must fundamentally overhaul its innovation ecosystem or risk losing its technological sovereignty and national security in an existential AI “knockout game” with the US, an academic based in Chinese tech hub Shenzhen has warned. Huang Ping, assistant dean of the Chinese University of Hong Kong (Shenzhen)’s school of public policy, said the country must strongly back open-source artificial intelligence (AI) to counter costly, closed-source American models and their market dominance. China..

Major drugmaker loses $27 billion in market value after failed trial

Two companies announced on Thursday that the heart disease drug they had been developing failed its Phase III trial.

+++ Iran War +++: Jordan reports rocket fire from Iran

Iranian official accuses USA of air strike near nuclear power plant +++ Kuwait under attack again - sirens wailing in Bahrain too +++ The news blog.

ECJ ruling: Streaming subscriptions can be revoked for two weeks

Luxembourg judges have decided: Anyone who takes out a subscription to Sky can revoke their decision - even if they are already watching.

Meet SK Hynix, the trillion-dollar South Korean chipmaker debuting on U.S. markets

Following a more than sevenfold rally in its stock price over the past year, South Korea's SK Hynix is listing on the Nasdaq.

Gen Z-ers share how they’re achieving financial freedom — and the old ideas they’re leaving behind

A stable job and a nice home have become less accessible to young Americans. Many are taking new paths to pursue their dreams.

PepsiCo cuts prices on snacks. It’s not enough to drive growth in North America.

PepsiCo’s stock was set to fall as the company’s North America business lagged, but strength in international business led to an earnings beat.

Reforms: Federal Constitutional Court rejects stop to health care reform and heating law

Karlsruhe rejects urgent applications against health reform and heating law. The Bundestag can now decide on both projects as planned.

A warning for the U.S. dollar: The historic bond-market buffer that protected the currency is fading.

Major dislocations in America’s foreign policy have given a stimulus to a dedollarization trend among central banks.

Financial framework: Bundestag puts the brakes on the EU Commission, which is eager to spend

Budget politicians fear additional burdens on Germany of more than 27 billion euros per year. The responsible committee passes a so-called regulatory decision.

Singaporean man hired to tutor children forced 6-year-old to drink urine in 18-hour abuse

A Singaporean man, hired by his aunt to tutor primary school pupils, instead beat them with a clothes hanger, forced them to hold push-up positions for long periods, punched and starved them. One of the children, a six-year-old Chinese national, was abused for 18 hours and forced to drink his own urine. On Thursday, the 31-year-old pleaded guilty to two counts of child abuse, one count of voluntarily causing grievous hurt and one of giving false or misleading information to police, local media..