STORY: This is ARCHAX, a giant robot from Japan The 15-foot tall 'Gundam'-like robot is controlled from a cockpitAnd it could one day be yours for around $3 million[Ryo Yoshida, CEO of Tsubame Industries]"Basically, you can get in and pilot it. It has 26 joints and can be controlled from inside the cockpit."Location: Yokohama, JapanARCHAX was developed over the past two yearsTsubame, the startup that made it, hopes to sell five units[Ryo Yoshida, CEO of Tsubame Industries]"The initial reason for creating it was that I wanted to make a new vehicle. In addition, Japan is really strong in the animation, games and robot industries, as well as in automobiles, so I thought it would be great if I could create a product that compressed all these elements into one that says, 'This is Japan.'"CEO Ryo Yoshida also hopes they could be used for disaster relief or in space
The best-selling budget electric car in China sells for about $5,000. A fall in prices to such affordable levels helped almost double China’s passenger electric vehicle sales last year. At 5.9mn units, sales more than twice outstripped the combined total for Europe and the US.
(Bloomberg) -- Hong Kong & China Gas Co., part of billionaire Lee Shau Kee’s business empire, is accelerating an expansion of biofuel firm EcoCeres Inc. in foreign markets on bets the global decarbonization push will boost demand for sustainable aviation fuel. Most Read from BloombergWhy a US Recession Is Still Likely — and Coming SoonAirbnb Is Fundamentally Broken, Its CEO Says. He Plans to Fix It.Key Taiwan Tech Firms Helping Huawei With China Chip PlantsJPMorgan’s Dimon Predicts 3.5-Day Work
Member of Parliament (MP) Tin Pei Ling, 39, has been appointed the managing director at DCS Card Centre.
(Bloomberg) -- Oil fell, with the US benchmark tumbling below $90 a barrel, as worries about further interest rate increases and a slowdown in the economy roiled broader markets. Most Read from BloombergWhy a US Recession Is Still Likely — and Coming SoonAirbnb Is Fundamentally Broken, Its CEO Says. He Plans to Fix It.Key Taiwan Tech Firms Helping Huawei With China Chip PlantsJPMorgan’s Dimon Predicts 3.5-Day Work Week for Next Generation Thanks to AI Severe Crash Is Coming for US Office Propert
(Bloomberg) -- Tumbling prices of coal and liquefied natural gas will see Australia’s annual earnings from commodities exports slump over the next two years, according to government forecasts.Most Read from BloombergWhy a US Recession Is Still Likely — and Coming SoonAirbnb Is Fundamentally Broken, Its CEO Says. He Plans to Fix It.Severe Crash Is Coming for US Office Properties, Investors SayBig Tech Spared as Bond Selloff Rattles Stocks: Markets WrapJPMorgan’s Dimon Predicts 3.5-Day Work Week f
The mining lobby has slammed the government’s proposed changes to workplace rules, claiming the changes could send businesses to the wall.
(Bloomberg) -- Ministers and oil industry chiefs are gathering for the biggest energy conference in the Middle East as crude heads toward $100 a barrel. Whether prices can hold at these levels and the outlook for OPEC+ supply cuts are among topics that will be discussed from Monday.Most Read from BloombergWhy a US Recession Is Still Likely — and Coming SoonAirbnb Is Fundamentally Broken, Its CEO Says. He Plans to Fix It.Severe Crash Is Coming for US Office Properties, Survey SaysBig Tech Spared
Oil rose in early Asian trade on Wednesday, supported by tightening global crude supply ahead of a panel meeting of OPEC+ ministers. Brent crude oil futures rose 6 cents to $90.98 a barrel by 0004 GMT, while U.S. West Texas Intermediate crude (WTI), rose 11 cents to $89.34 per barrel. The Organization of the Petroleum Exporting Countries and allies, or OPEC+, is expected to keep output policy unchanged when it meets on Wednesday, after members Saudi Arabia and Russia extended output cuts to the end of the year.
This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine. Oct 3 (Reuters) - Russia is setting no time frame for the fuel export ban it introduced last month, and it will remain in place as long as necessary to stabilise prices and address shortages on the domestic market, Interfax cited Deputy Prime Minister Alexander Novak as saying. Another news agency, TASS, cited Novak as saying that the government plans to prevent the prices of fuel at the pump from rising above general consumer price inflation in 2023 and 2024.
Top global automakers on Tuesday reported a rise in U.S. new vehicle sales for the third quarter, buoyed by resilient demand for latest models and improved supplies. General Motors extended a strong year as it posted an about 21% rise in U.S. sales to 674,336 vehicles, benefiting from demand for its pickup trucks, affordable crossover SUVs and electric vehicles. EV sales jumped 28% in the third quarter from the preceding quarter, the company said.
Tensions between the West and China are rising, from tit-for-tat trade tariffs to tech rivalry and spying allegations. The ramifications for global markets are significant, with Washington and Beijing's determination to loosen dependence on each other fraying long-established supply chains. That could help keep inflation and interest rates elevated.
New data forecasts clean energy commodity prices will decelerate, while a consultation paper has been released mapping a strategy for the changing role of gas.
(Bloomberg) -- Skyrocketing sugar prices are hitting some of Africa’s poorest nations particularly hard, forcing families and restaurants to forgo use of the ingredient that is core to local diets.Most Read from BloombergWhy a US Recession Is Still Likely — and Coming SoonAirbnb Is Fundamentally Broken, Its CEO Says. He Plans to Fix It.Severe Crash Is Coming for US Office Properties, Investors SayOnce Unthinkable Bond Yields Now the New Normal for MarketsStocks Lose Footing as Treasury Yields Su
Tensions between the West and China are rising, from tit-for-tat trade tariffs to tech rivalry and spying allegations. The ramifications for global markets are significant, with Washington and Beijing's determination to loosen dependence on each other fraying long-established supply chains. That could help keep inflation and interest rates elevated.
STORY: Sam Bankman-Fried is going on trial on fraud charges in New York starting on October 3.This comes nearly a year after FTX, the cryptocurrency exchange he founded, collapsed and declared bankruptcy.The 31-year-old is accused of stealing billions of dollars in FTX's customer funds.Federal prosecutors say he used the money to plug losses at Alameda Research – which was a crypto-focused hedge fund that he also owned – and to buy luxury real estate and donate tens of millions of dollars to U.S. political campaigns.The former billionaire has pleaded not guilty. He has acknowledged risk management failures at his companies, but says he never intended to steal any funds.Now, his lawyers are expected to argue at trial that Bankman-Fried thought FTX was allowed to make investments with customer funds, just like banks used deposits to make loans.His lawyers are also expected to try to pin most of the blame for the failures of his businesses on others.Three former members of Sam Bankman-Fried's inner circle have pleaded guilty and are set to testify against him at trial.That includes Caroline Ellison, Alameda's former chief executive officer and also Bankman-Fried's on-and-off romantic partner. Now, the trial is expected to last about six weeks. In order to get a conviction, prosecutors must convince the jury beyond a reasonable doubt both that Bankman-Fried defrauded FTX's customers and also that he knew at the time that what he was doing was wrong.Bankman-Fried is going to be traveling to and from court each day from the Metropolitan Detention Center in Brooklyn, which, of course, is a far cry from the $30 million penthouse in the Bahamas where he was living up until his December 2022 arrest.A judge jailed him in August after finding that he likely tampered with witnesses at least twice, including by sharing Ellison's private writings with a reporter.
(Bloomberg) -- The drag on oil demand in China, Europe and the US is weighing heavily on crude prices, capping the potential gains from OPEC+ supply cuts, Citigroup Inc. analyst Ed Morse says.Most Read from BloombergWhy a US Recession Is Still Likely — and Coming SoonAirbnb Is Fundamentally Broken, Its CEO Says. He Plans to Fix It.Key Taiwan Tech Firms Helping Huawei With China Chip PlantsJPMorgan’s Dimon Predicts 3.5-Day Work Week for Next Generation Thanks to AI Severe Crash Is Coming for US O
Amazon (NASDAQ: AMZN), CrowdStrike Holdings (NASDAQ: CRWD), and MercadoLibre (NASDAQ: MELI) are at the top of my shopping list for this month. While Amazon is more of a turnaround story, CrowdStrike and MercadoLibre are excellent growth stocks that can be purchased for a fair price. Amazon is the world's e-commerce leader, but the Federal Trade Commission (FTC) believes it has too much power and recently filed a lawsuit alongside 17 states charging it with anti-competitive practices.
Earlier this year, Cathie Wood's Ark Investment Management released a set of forecasts on the potential of artificial intelligence (AI). Ark says much of that added economic output will be driven by a productivity explosion for businesses using AI. In a recent interview with Bloomberg TV, Wood said the next big AI opportunity is likely to be software.
These top retail brands have years of growth ahead, but investors have a rare opportunity to buy shares at cheap valuations.