PG&E decided to move ahead with plans to cut power to customers in California after new concerns rose about wildfires. Yahoo Finance’s Brian Sozzi, Alexis Christoforous and Melody Hahm break down the latest development on The First Trade.
Some of Wall Street’s most powerful bosses are facing new shareholder proposals this spring that would strip them of power by separating their CEO and chairman seats.
Boeing is expected to report first quarter earnings before the bell on Wednesday, following a quarter that could be called rocky to say the least.
China's space agency is making final preparations to send the Shenzhou-18 crew into low-Earth orbit on Thursday as part of its ambitious space program that aims to put people on the moon by 2030. In a press conference on Wednesday, the China Manned Space Agency (CMSA) introduced the three astronauts; Commander Ye Guangfu, 43, a veteran astronaut who was part of the Shenzhou-13 mission in 2021; and astronauts Li Cong, 34, and Li Guangsu, 36, who will go to space for the first time. The three-member crew’s spacecraft is set for lift-off at 8:59 p.m. (1259 GMT) from the Jiuquan Satellite Launch Center on the edge of the Gobi Desert in the country’s northwest.
Asian shares have tracked Wall Street’s rally, led by a 2.4% advance for Tokyo’s benchmark Nikkei 225 index powered by strong gains for semiconductor makers. Japan’s benchmark Nikkei 225 gained more than 900 points to close at 38,460.08, its highest level in a month. Shares in computer chip company Renesas Electronics Corp. jumped 10.5%, while rival Tokyo Electronic surged 7.1%.
Asian equities extended the week's gains Wednesday following a strong rally on Wall Street and another record in London, as traders cheered more upbeat earnings reports and data indicating a slowdown in US economic activity.London opened with more gains, having chalked up two straight record closes.
The European Union has launched an investigation into Chinese public procurement of medical devices, the EU's official journal said Wednesday, in a move that risks raising further tensions with Beijing.It is the first probe under the EU's International Procurement Instrument which seeks to promote reciprocity in access to international public procurement markets.
Filtronic, which manufactures products for the aerospace, defence, space and telecom infrastructure markets, already supplies Starlink with E-band solid state power amplifiers (SSPA), which are used for low-earth orbit satellites. SpaceX will also get 21.7 million warrants in Filtronic, enabling it to subscribe for up to 10% of its shares. The partnership was executed with an initial purchase order of $19.7 million to supply E-band SSPA modules, scheduled for delivery in fiscal 2025, Filtronic said.
Germany said Wednesday that it plans to follow several other countries in resuming cooperation with the U.N. relief agency for Palestinians in Gaza after the publication of an independent review of its neutrality. Also Wednesday, the Israeli military said it is redeploying two reserve brigades from Israel's northern border to Gaza for “defensive and tactical missions," as it prepares for an offensive in Rafah, which Israel describes as Hamas' last stronghold in the territory.
US Secretary of State Antony Blinken was due in China on Wednesday, as the United States ramps up pressure on its rival over its support for Russia while also seeking to manage tensions with Beijing. But Blinken is also seeking to stabilise ties, with tensions between the world's two largest economies palpably easing since his last visit in June.
Victims of severe floods in southern China raced on Wednesday to salvage property from the muddy waters as authorities warned of more heavy rains to come.But fortunately we're insured," he told AFP. - More rain forecast - Authorities have warned of more downpours across Guangdong from Wednesday evening until Friday.
Dutch brewer Heineken said Wednesday its beer sales were up but saw a "challenging and uncertain" economic outlook and couldn't guarantee the same growth for the rest of the year."We continue to see the economic environment as challenging and uncertain, and will remain agile and focused," he said.
Israel is poised to send troops into Rafah, the Gazan city it sees as the last bastion of Hamas, Israeli media reported on Wednesday, saying preparations were under way to evacuate war-displaced Palestinian civilians who have been sheltering there. The Rafah sweep, postponed for several weeks amid disputes with Washington, will happen "very soon," the mass-circulation Israel Hayom newspaper said, citing a decision by the Israeli government after ceasefire talks with Hamas stalled. Several other Israeli media outlets carried similar reports.
A 29-year-old man has been charged with burglary in connection with a break-in at Los Angeles Mayor Karen Bass’ official residence that happened over the weekend while the mayor, her daughter, son-in-law and newborn grandson were inside, prosecutors said Tuesday.
Pro-Palestinian encampments have started on at least a dozen campuses
Iranian President Ebrahim Raisi arrived in Sri Lanka on Wednesday to inaugurate a hydropower and irrigation project that was long delayed due to international sanctions on his government and other issues. Raisi is the first Iranian leader to visit Sri Lanka since former President Mahmoud Ahmedinejad visited the country in 2008.
President Joe Biden’s apparent suggestion his uncle may have been eaten by cannibals has sparked uproar in Papua New Guinea, casting a shadow on ties.
Indonesia’s electoral commission formally declared Prabowo Subianto president-elect in a ceremony on Wednesday, after the country’s highest court rejected challenges to his landslide victory lodged by two losing presidential candidates. Authorities blocked streets leading to the General Election Commission compound, where more than 4,200 police and soldiers were deployed. Wearing matching long-sleeved white shirts, Subianto and vice president elect Gibran Rakabuming Raka waved to their supporters as they arrived at the building.
A high-level North Korean economic delegation was on its way to Iran, the North's state media said Wednesday, for what would be the two countries’ first known talks since the start of the COVID-19 pandemic. Embracing the idea of a “new Cold War,” North Korean leader Kim Jong Un is pushing to build up cooperation with countries confronting the United States, as his intensified weapons tests prompted the U.S. and South Korea to expand their military drills. Pyongyang's delegation led by Yun Jung Ho, North Korea’s minster of external economic relations, flew out Tuesday for the trip to Iran, official Korean Central News Agency said Wednesday.
Indonesia president-elect Prabowo Subianto on Wednesday vowed to fight for all Indonesians and called for unity among political elites to take the country forward, as he seeks to strengthen his parliamentary clout ahead of taking office in October. Speaking at a ceremony where he was being confirmed as the winner of the Feb. 14 election, Prabowo, who won by a huge margin, said he was talking to elites in the country and it was vital parties could get along together for the common good. Prabowo, who was tacitly backed by popular incumbent Joko Widodo, is seeking to broaden his coalition in the new parliament and is in talks with parties who backed his election rivals.
Chinese-backed Swedish electric vehicle (EV) maker Polestar Automotive is preparing to shift production of cars it plans to sell into Europe to its U.S. plant from China in view of rising geopolitical tension, its CEO said. Asked how Polestar is preparing for a European probe into Chinese-made EVs possibly leading to increased tariffs, Thomas Ingenlath said the automaker is exploring the idea of exporting the Polestar 3 made in South Carolina to the European Union. Polestar builds the majority of its cars in the Chinese cities of Chengdu and Taizhou.
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