LONDON—World stocks scaled one-month peaks on Friday thanks to signs inflation is easing, while the yen jumped to seven-month peaks and Japanese bond yields breached a central bank target as investors challenged its commitment to loose monetary policy. European shares opened higher and the broad STOXX 600 index touched its highest since April, while Asian-Pacific…
Yen Soars as Markets Test BOJ, Stocks Cheered by Inflation Retreat
January 13, 2023
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Warner Bros Discovery Rolls out First HBO Max Price Hike in US
Warner Bros Discovery Inc. is raising HBO Max’s ad-free subscription fee in the United States for the first time since the streaming service was launched in 2020, the TV network said on Thursday, sending its shares down 3 percent. Prices for the platform, currently streaming shows such as “The White Lotus” and “House of the…
Taiwan Chipmaker TSMC Says Quarterly Profit Up 78 Percent
TAIPEI, Taiwan—Taiwan Semiconductor Manufacturing Co., the biggest contract manufacturer of processor chips for smartphones and other products, said Thursday its quarterly profit rose 78 percent over a year earlier but forecast weak demand this year. Revenue for the final quarter of 2022 rose 42.8 percent over a year earlier to 625.5 billion New Taiwan dollars…
American Airlines Boosts Outlook After Busy Holiday Season
DALLAS—American Airlines raised its forecast of fourth-quarter revenue and profit Thursday, boosted by higher fares and full planes capped off with a busy holiday travel period. American earned $1.12 to $1.17 per share in the fourth quarter, nearly double its previous forecast. Revenue was 16 percent to 17 percent above the same quarter in 2019,…
New Pilot Contracts to Drive Up Costs at US Airlines
U.S. airline profits are set to come under pressure in 2023 as they look to shell out more cash to retain pilots amid worries about the impact of a potential recession on travel demand. Major carriers such as United Airlines Holdings Inc., American Airlines Group Inc., Delta Air Lines Inc., and Southwest Airlines Co. have…
New Alzheimer’s Treatment Would Cost $26,500 Per Year
A new Alzheimer’s treatment would cost patients an estimated $26,500 per year, said the drug developer. The Food and Drug Administration (FDA) announced on Jan. 6 that it would grant accelerated approval to Biogen and Eisai, after the drug appeared to partially slow the development of mild cases of Alzheimer’s disease in clinical trials. The same day, Eisai submitted…
Federal Utility to Build Gas Plant in Tennessee Despite EPA and Biden’s Concerns
January 12, 2023
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The largest public utility in the United States signed a plan this week to move forward with building a natural gas plant to replace a coal-burning plant in Tennessee, a move that has drawn concern from the Environmental Protection Agency (EPA) and President Biden’s clean energy goals. “Following a multi-year, transparent, and public process, TVA…
John Deere Signs Agreement to Let Farmers Repair Their Own Tractors
The American Farm Bureau Federation (AFBF) and John Deere have entered a memorandum of understanding (pdf) this week that will allow farmers to repair their own tractors purchased from the equipment manufacturing company. According to AFBF, the agreement addresses an issue that has been ongoing between farmers and the company in relation to farmers’ access…
Amazon to Appeal US Labor Board’s Certification of Union Victory in New York
January 12, 2023
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Amazon said it plans to appeal the official certification of its workers attempts at unionization in New York by the federal government’s labor relations board. Regional director Cornele Overstreet of the National Labor Relations Board (NRLB) upheld an Amazon warehouse union’s victory in New York City in her decision on Jan. 11. The Amazon Labor Union…
Samsung Reportedly Moves Its Top-of-the-Line Product Out of CES Venue to Avoid Intellectual Property Theft
Samsung Electronics exhibition hall at CES 2023 was different from previous years. The company did not display its top-of-the-line TV at the main venue of the Las Vegas Convention Center, reportedly to avoid being copied by Chinese companies. According to South Korean experts, Samsung’s tolerance for Chinese plagiarism has reached its limit, and advanced tech…
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