Australian regulator sues Clorox over false claims on 'ocean plastic' bags

Reuters
Chinese firms make headway in producing high bandwidth memory for AI chipsets
SINGAPORE/BEIJING (Reuters) -Two Chinese chipmakers are in the early stages of producing high bandwidth memory (HBM) semiconductors used in artificial intelligence chipsets, according to sources and documents. The progress in HBM - even if only in older versions of HBM - represents a major step forward in China's efforts to reduce its reliance on foreign suppliers amid tensions with Washington that have led to restrictions on U.S. exports of advanced chipsets to Chinese firms. CXMT, China's top manufacturer of DRAM chips, has developed sample HBM chips in partnership with chip packaging and testing company Tongfu Microelectronics, according to three people briefed on the matter.
Reuters
The inside story of Elon Musk’s mass firings of Tesla Supercharger staff
The day before Elon Musk fired virtually all of Tesla’s electric-vehicle charging division last month, they had high hopes as charging chief Rebecca Tinucci went to meet with Musk about the network’s future, four former charging-network staffers told Reuters. After Tinucci had cut between 15% and 20% of staffers two weeks earlier, part of much wider layoffs, they believed Musk would affirm plans for a massive charging-network expansion. Musk, the employees said, was not pleased with Tinucci’s presentation and wanted more layoffs.
Reuters
Exclusive-Bank of America banker who died had sought to leave, citing long hours, recruiter says
The 35-year-old Bank of America investment banker who died from a blood clot earlier this month wanted to leave the U.S. bank because he was working more than 100 hours a week, according to an executive recruiter who spoke with him about seeking a new job. Junior banker Leo Lukenas III died of an acute coronary artery thrombus, a type of blood clot, the New York Office of the Chief Medical Examiner said last week. Lukenas said in mid-March that he wanted to leave Bank of America because of the grueling hours, Douglas Walters, a managing partner at GrayFox Recruitment, told Reuters in an interview.
Reuters
Singapore Airlines CEO says travel out of China not yet recovered
SEOUL (Reuters) -Air travel demand from China is not back to pre-pandemic levels for Singapore Airlines, but a visa-free scheme for Chinese citizens to the Asian hub has helped fill seats and the airline will add more China capacity this year, its CEO said on Thursday. Global aviation capacity returned to pre-pandemic levels this year, but recovery has been slower in Asia's aviation industry due to still-sluggish international demand in China, the world's second-largest economy. "Travel into China has been strong, travel out of China has not yet recovered fully," Singapore Airlines CEO Goh Choon Phong told media.
Reuters
Tesla plans to cut 601 more jobs in California, notice to government says
The new Tesla layoff plans come as the EV maker undertakes a series of global job cuts that began a month ago amid falling sales and a price war.
SmartAsset
How Long Will $300,000 Last Me in Retirement?
How long will $300,000 last in retirement? The answer to that depends on a variety of things: your lifestyle, your lifespan, your investments and any other income you have, to start. Let's break down whether $300,000 is enough for your … Continue reading → The post How Long Will $300,000 Last in Retirement? appeared first on SmartAsset Blog.
The Guardian
Alleged ‘deal’ offer from Trump to big oil could save industry $110bn, study finds
Ex-president at Mar-a-Lago last month hosted more than 20 executives, including from Chevron, Exxon and Occidental Petroleum
Associated Press Finance
Walmart lays off hundreds of employees and requires others to relocate
Walmart on Tuesday announced layoffs affecting several hundred jobs at the retail giant’s campus offices. It also said it will require most remote workers and personnel in its Dallas, Atlanta and Toronto offices to relocate to its primary offices in Bentonville, Arkansas; Hoboken, New Jersey; and the San Francisco Bay Area. The news, conveyed via a Walmart staff memo provided to The Associated Press, said the relocations will serve the goal of “bringing more of us together more often.”
Associated Press
Morocco’s automotive industry shifts gears to prep for electric vehicle era
A train that travels from rural northern Morocco to a port on the Mediterranean Sea carries no passengers. Three times a day, it brings hundreds of cars stacked bumper to bumper from a Renault factory outside Tangiers to vessels that transport them to European dealerships. Business incentives and investing in infrastructure like the freight railway line have allowed Morocco to grow its automotive industry from virtually non-existent to Africa's largest in less than two decades.
The Independent
Breakthrough solar power technology could replace fossil fuels in heavy manufacturing
New device using quartz crystals and silicon can yield temperatures over 1,000C
Reuters Videos
Netflix hits 40 million users for ad-supported plan
STORY: Netflix said Wednesday its ad-supporter tier has hit 40 million global monthly active users.That's way up from 5 million a year earlier.And it's a sign the firm's push to draw new users with the cheaper plan has paid off.The jump comes at a time when streaming companies face tough competition.Many have brought in bundles with their rivals to retain subscribers.Netflix launched the ad-supported plan a year and a half ago.Data from a leading research firm this week showed such an approach has drawn users.It said the majority of gross subscriber additions for the streaming industry came from ad-supported plans for the first time in the fourth quarter.Netflix also said it will launch an in-house advertising technology platform by the end of next year.That's in a bid to offer clients new ways to buy ads and better engage with users.Netflix's ad-tier plan costs $6.99 per month in the U.S., undercutting many rivals including Disney+.
GOBankingRates
Want an ‘Unfair’ Wealth-Building Advantage? 3 Things Ramit Sethi Says To Do
Building wealth over the long term is crucial to financial success, especially later in life when you enter retirement. Building wealth can seem overwhelming, but it certainly doesn't have to be....
CNN Business
Why Biden’s monster EV tariffs could inflame a Europe-China trade war
US President Joe Biden has quadrupled tariffs on electric vehicles from China to 100%, effectively sealing off one of the world’s biggest passenger car markets to the largest global producer of EVs.
People
Sanctuary's 'Most Traumatized Bear' Is Living a Life 'of Hope and Happiness' a Year After Her Rescue
Dawn the moon bear is thriving at Animals Asia's Tam Dao sanctuary in Vietnam after her rescue from a bear bile farm
Reuters
Wildfires could impact over half of Canada's oil sands output - report
Canada is one of the biggest oil sands producers in the world. Companies like Suncor Energy, Canadian Natural Resources and Imperial Oil have oil sands projects within 150 km of Fort McMurry, an oil sands hub in Northern Alberta, with many workers living in the city.
The Guardian
Net zero U-turns will hit UK infrastructure, say government advisers
Sir John Armitt urges ministers to act swiftly or risk impeding growth and jeopardising climate targets
Yahoo Finance Video
Alphabet is the 'ultimate consumer company': Analyst
Alphabet's Google (GOOG, GOOGL) held its highly anticipated I/O conference today, announcing new artificial intelligence initiatives. CFRA Research Senior Equity Analyst Angelo Zino joins Market Domination Overtime to discuss Google's AI moves and the future of the tech company. Google introduced new AI-powered search capabilities and Gemini capabilities. The company also announced it'll start featuring AI overviews for searches in the US by the end of the week, with rollout plans for the rest of the world set for the coming months. "They've clearly been in beta mode here over the last couple of months. They're now going full gear into it, and I think that's a good thing," Zino says. "What they're doing on the infrastructure side of things, what they announced at Google Next last month, kind of shows really they are best in class on that side of things," Zino says of Google's momentum. He adds, "Alphabet continues to be that ultimate consumer company out there, and they are essentially the internet in many respects." The company could see some disruptions as the AI competition heats up; however, Zino feels that its upcoming opportunities across all sides of the business make the stock a good pick overall. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Melanie Riehl
Reuters
Chinese EV maker Aiways to go public in US via deal with Hudson Acquisition SPAC
Chinese electric vehicle maker Aiways will go public via a merger with U.S. special purpose acquisition company Hudson Acquistion Corp in a deal that should value the company around $400 million, the two companies said. The deal is a lifeline for Aiways, which halted production at its Shangrao plant last summer as a fierce EV price war in China squeezed automakers' margins. The company is among a group of struggling Chinese EV startups including WM Motors and Human Horizons that have suspended operations amid sluggish sales.
Reuters
Trafigura, IXM caught in COMEX copper short squeeze as prices hit record
LONDON/BEIJING (Reuters) -Commodity traders Trafigura and IXM are looking to buy physical copper to deliver against large short positions on U.S. exchange CME where copper prices soared to record highs on Wednesday, five sources with direct knowledge of the matter said. A short squeeze occurs when parties holding such positions are forced to buy them back at a loss or deliver physical copper to close them out. Copper prices on COMEX, part of the CME Group, hit a record peak of $5.1775 a lb or $11,414 a metric ton on Wednesday, a gain of 28% so far this year and 14% over the last week.
Reuters
Swedish investor AP7 to back study on Mondelez Russia business
NEW YORK (Reuters) -At least one Mondelez investor, Swedish pension fund AP7, will back a resolution calling for the Oreo cookie maker to conduct an independent study of the risks of continuing to do business in Russia, which faces a vote at the company's annual meeting this month. McDonald's and Starbucks are among the brands that departed Russia after its 2022 invasion of Ukraine, while others such as Nestle remained there. AP7, which holds roughly 1.7 million Mondelez shares as of May, will support the resolution, said Johan Floren, the firm's chief environmental, social and governance and communication officer, in an email.

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Australian regulator sues Clorox over false claims on 'ocean plastic' bags

Latest stories

Chinese firms make headway in producing high bandwidth memory for AI chipsets

The inside story of Elon Musk’s mass firings of Tesla Supercharger staff

Exclusive-Bank of America banker who died had sought to leave, citing long hours, recruiter says

Singapore Airlines CEO says travel out of China not yet recovered

Tesla plans to cut 601 more jobs in California, notice to government says

How Long Will $300,000 Last Me in Retirement?

Alleged ‘deal’ offer from Trump to big oil could save industry $110bn, study finds

Walmart lays off hundreds of employees and requires others to relocate

Morocco’s automotive industry shifts gears to prep for electric vehicle era

Breakthrough solar power technology could replace fossil fuels in heavy manufacturing

Netflix hits 40 million users for ad-supported plan

Want an ‘Unfair’ Wealth-Building Advantage? 3 Things Ramit Sethi Says To Do

Why Biden’s monster EV tariffs could inflame a Europe-China trade war

Sanctuary's 'Most Traumatized Bear' Is Living a Life 'of Hope and Happiness' a Year After Her Rescue

Wildfires could impact over half of Canada's oil sands output - report

Net zero U-turns will hit UK infrastructure, say government advisers

Alphabet is the 'ultimate consumer company': Analyst

Chinese EV maker Aiways to go public in US via deal with Hudson Acquisition SPAC

Trafigura, IXM caught in COMEX copper short squeeze as prices hit record

Swedish investor AP7 to back study on Mondelez Russia business