Category: Business & Markets

Toyota’s April Global Sales Rise on Stronger Demand in Japan, China

May 30, 2023
Asia & PacificBusiness & MarketsChina Business & EconomyChina NewsCompaniesglobalInternationalMarketssalesToyotaWorld
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TOKYO—Toyota Motor Corp.’s global sales rose by nearly 5 percent in April from a year earlier, boosted by stronger demand for hybrids and gasoline-powered cars in Japan and China. The Japanese automaker also reported better overseas sales of battery electric vehicles (EVs), bringing the total number of battery-powered units it sold in the first four…

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Oil Falls 2 Percent on US Debt Deal Struggles, OPEC+ Talks Uncertainty

May 30, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesMarketsOilstocks
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LONDON—Oil fell by nearly 2 percent on Tuesday as concerns about the U.S. debt ceiling pact cooled the market’s risk-on sentiment and mixed messages from major producers clouded the supply outlook ahead of their meeting this weekend. Brent crude futures fell $1.36, or 1.8 percent, to $75.71 a barrel by 0859 GMT. U.S. West Texas…

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Yen Firms on Policymaker Meeting, Dollar up After Debt Deal

May 30, 2023
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON/SINGAPORE—The yen strengthened on Tuesday on news of a meeting of Japan’s finance ministry and central bank, while elsewhere the dollar rose to a two-month high against a basket of its peers after the U.S. debt ceiling deal. The dollar was last down 0.18 percent against the Japanese yen at 140.18 after the country’s finance…

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Startup Raises $70 Million to Develop Human-Like Robot

May 30, 2023
artificial intelligenceartificial intelligence (AI)Business & MarketsCompanieshumanoid robotTechTech NewsUSUS News
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An AI robotics startup from California has raised over $70 million to build a humanoid robot that the company expects will be used to do a wide range of manual labor. Sunnyvale-based Figure is developing Figure 01, which the company thinks will resolve labor shortages, support the global supply chain, and perform dangerous tasks. Figure…

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Dollar, European Stocks Steady With US Debt Deal in Focus

May 30, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON/SYDNEY—The U.S. dollar steadied after climbing to a two-month high and European stocks flattened on Tuesday as relief that a possible default by the U.S. government had been averted gave way to concern that the deal could face a rocky path through Congress. The U.S. dollar index and longer-dated U.S. Treasuries rallied as traders welcomed…

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Australian Households Spend Record Levels of Income on Rent

May 30, 2023
AustraliaBusiness & MarketsCoreLogiceconomyrentWorld
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A new analysis has shown that Australian households who do not own their place of residence now have to spend nearly a third of their income on rent, with spending expected to remain high in the near future. According to a housing affordability report by ANZ Bank and real estate data provider CoreLogic, the portion…

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Australian Fashion Giant Cops $29,000 Fine for Underpaying Workers

May 30, 2023
AustraliaBusiness & MarketsCompanieseconomic policiesFashionLeanne Castleylong service leaveMosaic BrandsSophie CotsisWorld
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Australia’s largest speciality fashion retailer has faced a A$29,000 (US$18,875) fine for underpaying its workers for long service leave.  Mosaic Brands, which has 1,110 stores nationally, including Millers, Rivers, Katies, Rockmans and Noni B, pleaded guilty to 324 offences in Downing Centre Local Court. The court issued the fine on Monday.  This is the record…

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US Venture Capital Firms, Financial Firms Should Stop Backing Red China

May 30, 2023
Business & MarketsBusiness ColumnistsChinaChina Business & EconomyChina NewsOpiniontech startupsThinking About Chinaventure capital
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Commentary China’s tech startup and venture capital boom over the last decade has produced some household names while stoking concerns that it would one day surpass innovation out of Silicon Valley. But that momentum has waned recently. Various reasons have dampened international funding into Chinese tech startups, including pandemic restrictions, the communist authority’s crackdown on…

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‘Money Talks’: Motorsport Legend Says Business Support for The Voice Meant to Appease Government

May 30, 2023
AustraliaBusiness & Marketscrony capitalismIndigenous Voice to ParliamentInternationalThe VoiceWorld
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Motorsport legend, Larry Perkins, says sporting organisers are only supporting changing Australia’s Constitution—to entrench Aboriginal interests—because it will lock in future business opportunities with the government. Perkins, who has competed in Formula One, V8 Supercars, and the 24 Hours of Le Mans, was critical of the decision by Motorsport Australia to join with 20 other…

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AUKUS Partners Make World-Leading Breakthrough in AI Technology

May 30, 2023
AI autonomyartificial intelligenceAUKUSAUKUS pactAustraliaautonomyBusiness & Marketsmilitary capabilityNational SecurityTechTech NewsUSWorld
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AUKUS partners Australia, the United States, and the United Kingdom have announced a global breakthrough in artificial intelligence (AI) technology, with the first live retraining of autonomous systems used on surveillance drone technology. The AUKUS coalition said that during a trial in Upavon in Wiltshire, UK, the alliance achieved several world-first breakthroughs with jointly made AI…

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