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Mixue Group's Hong Kong IPO Surges 30% on Debut, Highlighting Franchise Success

Mar 03, 2025 07:18 am UTC| Business

Shares of Chinas leading bubble tea chain, Mixue Group, soared nearly 30% on their first trading day in Hong Kong, surpassing the Hang Seng Indexs 0.8% gain. The company raised $444 million in its IPO, pricing shares at...

New World Development Shares Surge Amid Debt-Cutting Plan

Mar 03, 2025 07:18 am UTC| Business Economy

Shares of New World Development soared on Monday, jumping 11.4% to HK$5.37, their highest since late December, after the Hong Kong-based developer announced measures to boost cash flow and reduce debt. The surge followed...

ON Semiconductor Eyes Allegro Microsystems Acquisition to Expand Automotive Chip Business

Mar 03, 2025 07:18 am UTC| Technology Business

ON Semiconductor Corporation (NASDAQ:ON) is reportedly exploring the acquisition of Allegro Microsystems Inc. (NASDAQ:ALGM) to strengthen its presence in the automotive semiconductor market, according to Bloomberg. The...

Prada Nears €1.5 Billion Acquisition of Versace

Mar 03, 2025 07:17 am UTC| Business

Prada is finalizing an agreement to acquire Versace from Capri Holdings for approximately 1.5 billion ($1.6 billion). This acquisition would unite two of Italys most iconic luxury fashion brands, bringing Versace back...

Shell Weighs Sale of Chemicals Assets in U.S. and Europe

Mar 03, 2025 07:16 am UTC| Business

Shell is reportedly exploring a potential sale of its chemicals assets in Europe and the U.S., according to the Wall Street Journal, citing sources familiar with the matter. The energy giant has engaged Morgan Stanley to...

Philip Morris Considers $1B Sale of Cigar Business Amid Smoke-Free Push

Mar 03, 2025 07:15 am UTC| Business

Philip Morris International Inc. (NYSE: PM) is reportedly exploring the sale of its cigar business for over $1 billion, according to Bloomberg. The move aligns with the tobacco giants strategy to transition toward...

Shuttered car factories in Australia could be repurposed to make houses faster and cheaper

Mar 02, 2025 16:44 pm UTC| Insights & Views Business

Australia is in the grip of a severe housing shortage. Many people are finding it extremely difficult to find a place to live in the face of rising rents and property price surges. Homelessness is rising sharply. Tent...

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Economy

U.S. Stocks End Week Higher as Tech Rally Offsets Consumer Weakness

U.S. stocks closed higher on Friday, recovering from a volatile start to the week as gains in technology and AI-related shares outweighed sharp declines in consumer stocks such as Nike. Major indexes finished in positive...

EU Delays Mercosur Free Trade Agreement Signing Amid Ukraine War Funding Talks

The European Union has decided to delay the formal signing of its long-anticipated free trade agreement with the Mercosur bloc, as EU leaders convened in Brussels to prioritize discussions on funding Ukraines war effort....

Precious Metals Rally as Silver and Platinum Outperform on Rate Cut Bets

Gold prices edged slightly lower in Asian trading on Friday but were still on track to post modest weekly gains, as strong safe-haven demand continued to support the precious metals market. At the same time, silver and...

Oil Prices Steady in Asia but Headed for Weekly Loss on Supply Glut Concerns

Oil prices were mostly steady during Asian trading on Friday, but both major benchmarks were still on track to record a second consecutive weekly decline as persistent concerns over a global supply glut continued to...

New Zealand Business Confidence Hits 30-Year High as Economic Outlook Improves

New Zealands business confidence surged sharply in December, reaching its highest level in three decades, according to the latest ANZ Bank Business Outlook survey released on Friday. The data highlights growing optimism...

Politics

U.S. and China Push for Ceasefire as Thailand–Cambodia Border Clashes Escalate

China and the United States are intensifying separate diplomatic efforts to revive a ceasefire between Thailand and Cambodia, as Southeast Asian leaders prepare for a crucial ASEAN meeting aimed at addressing the worst...

Syria, Kurds and U.S. Race to Show Progress on SDF Integration Deal

Syrian, Kurdish and U.S. officials are intensifying diplomatic efforts ahead of a year-end deadline to demonstrate progress on a long-stalled agreement to integrate Kurdish-led forces into the Syrian state, according to...

Putin Signals Possible Peace or Continued War in Ukraine at Major Year-End Address

Russian President Vladimir Putin is expected to send a significant signal to the United States and European powers regarding the future of the Ukraine war when he speaks at his annual end-of-year news conference on Friday....

Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy

The U.S. government under President Donald Trump has launched a formal review that could pave the way for the first-ever shipments of Nvidias H200 artificial intelligence chips to China, according to multiple sources...

Trump Signs Order to Ease Federal Marijuana Rules, Signaling Major Policy Shift

U.S. President Donald Trump has signed an executive order directing federal agencies to loosen regulations on marijuana, a move that could mark one of the most significant changes in U.S. cannabis policy in decades. The...

Science

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman

The U.S. Senate Commerce Committee announced it will vote on December 8 on President Donald Trumps renewed nomination of private astronaut and tech entrepreneur Jared Isaacman to lead NASA. Isaacman, known for his...

NASA Cuts Boeing Starliner Missions as SpaceX Pulls Ahead

NASA has significantly scaled back Boeings Starliner program after years of technical issues and delays, announcing that the next Starliner mission to the International Space Station (ISS) will fly without astronauts. The...

Blue Origin’s New Glenn Achieves Breakthrough Success With First NASA Mission

Blue Origins massive New Glenn rocket marked a major milestone as it completed its first mission for paying customers, sending two NASA satellites toward Mars and successfully landing its reusable booster at sea. The...

Cogent Biosciences Soars 120% on Breakthrough Phase 3 Results for Bezuclastinib in GIST Treatment

Cogent Biosciences (NASDAQ: COGT) shares skyrocketed over 120% after the biotech company announced groundbreaking results from its Phase 3 PEAK trial evaluating bezuclastinib in combination with sunitinib for patients with...

Technology

Dina Powell McCormick Resigns From Meta Board After Eight Months, May Take Advisory Role

Dina Powell McCormick has resigned from Meta Platforms board of directors effective immediately, just eight months after joining the social media company, Meta confirmed on Friday. The unexpected departure comes at a time...

TikTok U.S. Deal Advances as ByteDance Signs Binding Joint Venture Agreement

TikTok has taken a major step toward securing its future in the United States after its Chinese parent company, ByteDance, announced it has signed binding agreements with three major investors to form a new joint venture...

Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz

Oracle Corporation (NYSE: ORCL) shares surged sharply in extended trading on Thursday, reflecting renewed investor optimism fueled by reports of a potential U.S. TikTok transaction and fresh fundraising discussions...

Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law

Apple has announced a major shift in its App Store policies in Japan, opening iPhones and other Apple devices to alternative app stores in order to comply with new competition laws aimed at reshaping the countrys...

Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand

Micron Technology delivered record first-quarter results and issued a bullish forecast for the current quarter, driven by rising memory prices and strong demand linked to artificial intelligence workloads. The upbeat...