SK Hynix's US Offering Reportedly Seven Times Oversubscribed

President Donald Trump said an Axios report claiming that he offered Iran sanctions relief in exchange for nuclear concessions is false. Axios journalist Barak Ravid reported that US officials told him the President had offered to lift sanctions and unfreeze Iranian assets in return for concrete steps on Iran’s nuclear program. Shortly after the report […]

GM Replaces 1,000 Factory Zero Workers With 50 Robots General Motors is once again under the microscope after expanding automation at its Detroit-based Factory Zero plant, installing about 50 collaborative robots not long after cutting more than 1,000 positions, according to Yahoo Finance. The decision reflects a broader shift across the auto industry as manufacturers lean more heavily on robotics and AI to improve efficiency while labor groups warn about the impact on employment. Factory Zero, where GM builds the GMC Hummer EV and Chevrolet Silverado EV, was originally marketed as the...

ECB Hikes Rates For First Time Since 2023 (As Expected); Cuts Growth, Hikes Inflation Outlook As fully expected, The ECB hiked its key rate by 25bps (for the first time since 2023) as the policymakers battle with the dilemma of economic weakness combined with rising inflation. Obviously, raising rates to dampen inflation could further slow the economy, while easing rates to support growth increases the risk that higher inflation becomes persistent. Clearly, Lagarde et al went with the former with its well-jawboned baseline having long been a hike in June with risks skewed toward...