BHP Faces Major Port Hedland Strike as Labor Talks Stall Ahead of Production Report 
Nvidia Tightens AI Chip Sales in Asia With Stricter Customer Approval Process 
Yaskawa Electric Shares Slide as Weak Profit Overshadows Strong AI Demand 
SoftBank Corp Partners With Sierra to Expand AI Customer Support Across Japan 
Australia Flags Child Safety Gaps at Apple, Meta, Google Over Online Sexual Extortion 
TSMC Q2 Revenue Surges 36% as AI Chip Demand Powers Growth Ahead of Earnings 
DBS Targets S$1 Trillion Wealth AUM by 2030 Amid Asia Wealth Boom 
Kitron Q2 Revenue Beats Estimates as Defense Demand Lifts Growth 
Morgan Stanley Says China’s Reusable Rocket Progress Poses Long-Term Challenge to SpaceX 
Stellantis Q2 Vehicle Shipments Rise 10% as North America Drives Growth 
SK Hynix Soars 13% in Nasdaq Debut After Record $26.5 Billion IPO 
Arm Stock Falls After HSBC Downgrade, Citing Limited Near-Term AI Upside 
Morgan Stanley Names Marks & Spencer Top European Retail Pick, Sees Strong Upside 
Nippon Paint Reportedly Offers Up to €7.5 Billion for Akzo Nobel Decorative Paints Business 
Samsung to Launch First Yongin Chip Plant by 2029 as South Korea Speeds Up Semiconductor Hub 
Deutsche Bank Fined A$2 Million by ASIC Over OTC Derivatives Reporting Errors 
Apple Sues OpenAI, Former Employees Over Alleged Trade Secret Theft 
Orange County Business Council (OCBC) released the following statement today in response to Governor Brown's transportation package as part of the proposed budget:
"The Orange County Business community applauds Governor Brown for his continued dedication to fixing California's severely degraded roads," said Lucy Dunn, President and CEO, OCBC. "The inclusion of a transportation package in the state's budget signals the hope for a bipartisan effort to address one of the most critical problems plaguing the state's growth and future — without reliable means of movement for goods and people, California's businesses and residents face a major hindrance in economy prosperity."
"California is the world's eighth largest economy and the largest in the U.S., however, its roads are consistently ranked one of the worst in the nation. Motorists spend on average $762 annually to fix auto repairs caused by poor road conditions while the average Southern California driver spends up to 80 hours a year in traffic – clearly money wasted. Not to mention time delayed getting goods to ports of trade."
"OCBC strongly advocates for a long-term funding plan that includes both reform and revenue to address the state's more than $300 million transportation funding shortfall. The business community looks forward to working with Gov. Brown and the legislature to address this critical issue and keep California moving."
About OCBC: Orange County Business Council is the leading voice of business in Orange County, California. OCBC represents and promotes the business community, working with government and academia, to enhance Orange County's economic development and prosperity in order to preserve a high quality of life. OCBC serves member and investor businesses with nearly 250,000 employees and 2,000,000 worldwide. In providing a proactive forum for business and supporting organizations, OCBC helps assure the financial growth of America's sixth largest county. For more information, visit www.ocbc.org.
CONTACT: Delaine Moore, Director of Communications, [email protected] or 949.794.7220
