Japan buyer agrees to pay Q2 aluminium premium of $145/T, up 61% from Q1, sources say

Reuters
Exclusive-Bank of America banker who died had sought to leave, citing long hours, recruiter says
The 35-year-old Bank of America investment banker who died from a blood clot earlier this month wanted to leave the U.S. bank because he was working more than 100 hours a week, according to an executive recruiter who spoke with him about seeking a new job. Junior banker Leo Lukenas III died of an acute coronary artery thrombus, a type of blood clot, the New York Office of the Chief Medical Examiner said last week. Lukenas said in mid-March that he wanted to leave Bank of America because of the grueling hours, Douglas Walters, a managing partner at GrayFox Recruitment, told Reuters in an interview.
Reuters
Singapore Airlines CEO says travel out of China not yet recovered
SEOUL (Reuters) -Air travel demand from China is not back to pre-pandemic levels for Singapore Airlines, but a visa-free scheme for Chinese citizens to the Asian hub has helped fill seats and the airline will add more China capacity this year, its CEO said on Thursday. Global aviation capacity returned to pre-pandemic levels this year, but recovery has been slower in Asia's aviation industry due to still-sluggish international demand in China, the world's second-largest economy. "Travel into China has been strong, travel out of China has not yet recovered fully," Singapore Airlines CEO Goh Choon Phong told media.
SmartAsset
How Long Will $300,000 Last Me in Retirement?
How long will $300,000 last in retirement? The answer to that depends on a variety of things: your lifestyle, your lifespan, your investments and any other income you have, to start. Let's break down whether $300,000 is enough for your … Continue reading → The post How Long Will $300,000 Last in Retirement? appeared first on SmartAsset Blog.
The Guardian
Alleged ‘deal’ offer from Trump to big oil could save industry $110bn, study finds
Ex-president at Mar-a-Lago last month hosted more than 20 executives, including from Chevron, Exxon and Occidental Petroleum
Yahoo Finance
Most people expect to retire in their early 60s. Is that realistic?
The number of workers who plan to work full time beyond age 62 has fallen dramatically, dropping to 46% from 55% four years ago.
Associated Press Finance
Walmart lays off hundreds of employees and requires others to relocate
Walmart on Tuesday announced layoffs affecting several hundred jobs at the retail giant’s campus offices. It also said it will require most remote workers and personnel in its Dallas, Atlanta and Toronto offices to relocate to its primary offices in Bentonville, Arkansas; Hoboken, New Jersey; and the San Francisco Bay Area. The news, conveyed via a Walmart staff memo provided to The Associated Press, said the relocations will serve the goal of “bringing more of us together more often.”
Associated Press
Morocco’s automotive industry shifts gears to prep for electric vehicle era
A train that travels from rural northern Morocco to a port on the Mediterranean Sea carries no passengers. Three times a day, it brings hundreds of cars stacked bumper to bumper from a Renault factory outside Tangiers to vessels that transport them to European dealerships. Business incentives and investing in infrastructure like the freight railway line have allowed Morocco to grow its automotive industry from virtually non-existent to Africa's largest in less than two decades.
Reuters
Wildfires could impact over half of Canada's oil sands output - report
Canada is one of the biggest oil sands producers in the world. Companies like Suncor Energy, Canadian Natural Resources and Imperial Oil have oil sands projects within 150 km of Fort McMurry, an oil sands hub in Northern Alberta, with many workers living in the city.
GOBankingRates
Want an ‘Unfair’ Wealth-Building Advantage? 3 Things Ramit Sethi Says To Do
Building wealth over the long term is crucial to financial success, especially later in life when you enter retirement. Building wealth can seem overwhelming, but it certainly doesn't have to be....
CNN Business
Why Biden’s monster EV tariffs could inflame a Europe-China trade war
US President Joe Biden has quadrupled tariffs on electric vehicles from China to 100%, effectively sealing off one of the world’s biggest passenger car markets to the largest global producer of EVs.
Reuters SG
FOCUS-Chinese firms invest in 'green' jet fuel, anticipating blending rule
Biofuel firms are pouring more than $1 billion into building China's first plants to turn waste cooking oil into aviation fuel for export and meet domestic demand once Beijing mandates the fuel's use on airplanes to cut emissions. The world's second-largest aviation market, with about 11% of global jet fuel use, China is expected to unveil this year its policy on sustainable aviation fuel (SAF) use for 2030 that could spur billions of dollars of investment, industry executives told Reuters.
Reuters Videos
Netflix hits 40 million users for ad-supported plan
STORY: Netflix said Wednesday its ad-supporter tier has hit 40 million global monthly active users.That's way up from 5 million a year earlier.And it's a sign the firm's push to draw new users with the cheaper plan has paid off.The jump comes at a time when streaming companies face tough competition.Many have brought in bundles with their rivals to retain subscribers.Netflix launched the ad-supported plan a year and a half ago.Data from a leading research firm this week showed such an approach has drawn users.It said the majority of gross subscriber additions for the streaming industry came from ad-supported plans for the first time in the fourth quarter.Netflix also said it will launch an in-house advertising technology platform by the end of next year.That's in a bid to offer clients new ways to buy ads and better engage with users.Netflix's ad-tier plan costs $6.99 per month in the U.S., undercutting many rivals including Disney+.
Cover Media
Brad Pitt countersued over Chateau Miraval funds
The actor has been accused of diverting money from the winery to his other businesses, including a recording studio, a cosmetics company and a gin brand. Brad, 60, previously sued the Tenute del Mondo wine group to block them from purchasing his ex-wife Angelina Jolie's shares in their joint French winery, Chateau Miraval. Now Tenute del Mondo is suing him, claiming he took money from the wine business and used it to prop up his other companies. "Pitt caused millions of its funds to be spent on projects that benefit him personally," the suit alleges.
Reuters
Chinese EV maker Aiways to go public in US via deal with Hudson Acquisition SPAC
Chinese electric vehicle maker Aiways will go public via a merger with U.S. special purpose acquisition company Hudson Acquistion Corp in a deal that should value the company around $400 million, the two companies said. The deal is a lifeline for Aiways, which halted production at its Shangrao plant last summer as a fierce EV price war in China squeezed automakers' margins. The company is among a group of struggling Chinese EV startups including WM Motors and Human Horizons that have suspended operations amid sluggish sales.
Reuters
Trafigura, IXM caught in COMEX copper short squeeze as prices hit record
LONDON/BEIJING (Reuters) -Commodity traders Trafigura and IXM are looking to buy physical copper to deliver against large short positions on U.S. exchange CME where copper prices soared to record highs on Wednesday, five sources with direct knowledge of the matter said. A short squeeze occurs when parties holding such positions are forced to buy them back at a loss or deliver physical copper to close them out. Copper prices on COMEX, part of the CME Group, hit a record peak of $5.1775 a lb or $11,414 a metric ton on Wednesday, a gain of 28% so far this year and 14% over the last week.
Reuters
Swedish investor AP7 to back study on Mondelez Russia business
NEW YORK (Reuters) -At least one Mondelez investor, Swedish pension fund AP7, will back a resolution calling for the Oreo cookie maker to conduct an independent study of the risks of continuing to do business in Russia, which faces a vote at the company's annual meeting this month. McDonald's and Starbucks are among the brands that departed Russia after its 2022 invasion of Ukraine, while others such as Nestle remained there. AP7, which holds roughly 1.7 million Mondelez shares as of May, will support the resolution, said Johan Floren, the firm's chief environmental, social and governance and communication officer, in an email.
Reuters
Goldman Sachs hires from rivals to expand in mid-market deals
Goldman Sachs told Reuters it has hired two investment bankers, Kerry Burke and Eddie Rubin, from Evercore and Lazard, respectively, as part of a push to double down on its business that focuses on advising on deals worth up to $2 billion. Best known for its advisory work on mega deals, Goldman has been making a push in recent years to advise on smaller transactions to boost and diversify its revenue. Burke, who focused on the retail and apparel sectors at Evercore, will join Goldman in August, while Rubin, who advises on deals in the digital infrastructure industry, joined the bank in April.
Zacks
Alibaba (BABA) Q4 Earnings Beat Estimates, Revenues Rise Y/Y
Alibaba's (BABA) fourth-quarter fiscal 2024 results reflect strength across the International commerce, local services and Cainiao logistics businesses.
Reuters
Temu targeted in EU consumer group's complaint to EU tech regulator
BRUSSELS (Reuters) -Chinese fast-fashion e-commerce retailer Temu was hit with a European Union complaint on Thursday over a potential breach of online content rules by the PDD Group-owned business. Under the European Union's Digital Services Act, online marketplaces and intermediaries are required to fight illegal and harmful content as well as counterfeit products on their platforms. Pan-European consumers organisation BEUC said it has lodged a grievance with the European Commission while 17 of its members in countries including France, Italy and the Netherlands have also filed complaints with their relevant national authorities.
MediaOutReach
Cyber Attack-Data Breach is Top Business Risk Facing Financial Institutions, Aon Survey
HONG KONG SAR - Media OutReach Newswire - 16 May 2024 - Aon plc (NYSE: AON), a leading global professional services firm, has announced the results of its 2023 Global Risk Management Survey, which gathered input from nearly 3,000 risk managers, C-suite leaders, treasurers, talent professionals and other executives from 61 countries and territories to identify their most pressing business challenges. The 2023 edition of Aon's biennial survey found the top three business risks facing financial ins

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Japan buyer agrees to pay Q2 aluminium premium of $145/T, up 61% from Q1, sources say

Latest stories

Exclusive-Bank of America banker who died had sought to leave, citing long hours, recruiter says

Singapore Airlines CEO says travel out of China not yet recovered

How Long Will $300,000 Last Me in Retirement?

Alleged ‘deal’ offer from Trump to big oil could save industry $110bn, study finds

Most people expect to retire in their early 60s. Is that realistic?

Walmart lays off hundreds of employees and requires others to relocate

Morocco’s automotive industry shifts gears to prep for electric vehicle era

Wildfires could impact over half of Canada's oil sands output - report

Want an ‘Unfair’ Wealth-Building Advantage? 3 Things Ramit Sethi Says To Do

Why Biden’s monster EV tariffs could inflame a Europe-China trade war

FOCUS-Chinese firms invest in 'green' jet fuel, anticipating blending rule

Netflix hits 40 million users for ad-supported plan

Brad Pitt countersued over Chateau Miraval funds

Chinese EV maker Aiways to go public in US via deal with Hudson Acquisition SPAC

Trafigura, IXM caught in COMEX copper short squeeze as prices hit record

Swedish investor AP7 to back study on Mondelez Russia business

Goldman Sachs hires from rivals to expand in mid-market deals

Alibaba (BABA) Q4 Earnings Beat Estimates, Revenues Rise Y/Y

Temu targeted in EU consumer group's complaint to EU tech regulator

Cyber Attack-Data Breach is Top Business Risk Facing Financial Institutions, Aon Survey