LTL carrier XPO has had its debt rating upgraded by S&P Global Ratings, but except for one specific obligation, it remains below the cutoff line between investment and non-investment grade debt. In the most important rating for the company, S&P Global Ratings increased its issuer credit rating on XPO (NYSE: XPO) to BB+ from BB….
It’s become a bit boring to hear stories of 20-something techies launching multi-billion-dollar startups from their dorms. However, these tales of online riches usually center around software. That’s what makes Etched different. Must Read Gavin Uberti, Robert Wachen and Chris Zhu — a trio of math whiz Harvard dropouts — founded this San Jose startup…
Aug 20 (Reuters) – Shein has pushed back its market debut in Hong Kong until September following a slight delay in taking investor orders for the fast-fashion retailer’s IPO at a reduced valuation, the South China Morning Post reported on Thursday. Shein plans to introduce multiple cornerstone investors, although most positions will be taken up…
September S&P 500 E-Mini futures (ESU26) are down -0.37%, and September Nasdaq 100 E-Mini futures (NQU26) are down -0.48% this morning, pointing to a lower open on Wall Street as Treasury yields resumed their climb. Treasuries resumed their decline on Thursday as the boost from the U.S. Treasury’s decision to increase buyback volumes for long-end securities…
By Mike Dolan Aug 20 (Reuters) – What matters in U.S. and global markets today By Mike Dolan, Editor-at-Large, Finance and Markets Buybacks to the rescue? The surprising move by the U.S. Treasury to double the amount of bond buybacks in the two months before the midterm elections steadied the shaky government debt market on…
Concerned about an AI bubble? Sign up for The Daily Upside for smart and actionable market news, built for investors. Unitree Robotics’ humanoid robots may give M3GAN a run for her money. The Hangzhou-based company’s product lineup includes bipedal bots that can do backflips, kung fu and more moves that plenty of humans (and their…
LG Energy Solution has started production at its new battery manufacturing facility in Lansing, Michigan, as the South Korean company expands its North American supply base for both energy storage systems and electric vehicles. The 226-acre plant is designed to reach more than 35 gigawatt-hours of annual battery production capacity at full scale. LG Energy…
By Selena Li HONG KONG, Aug 20 (Reuters) – Ant International launched an upgraded version of its artificial intelligence model on Thursday, signing up major global banks as financial institutions accelerate the adoption of specialised AI to manage liquidity risks. The Singapore-based fintech giant rolled out its Falcon Time-Series Transformer Model 2.0 and has partnered…
The bond market has been sending a warning signal this summer. On Wednesday, the Treasury Department responded. After a bond market selloff drove long-term U.S. bond yields to their highest level in years, the Treasury Department announced today that it is at least doubling its planned buybacks of longer-term government bonds, from a maximum of…
The freight market is entering a potentially transformative “super cycle,” according to industry analyst Lee Klaskow. After years of unsustainably low rates that forced many truckers out of business, structural changes and increased regulatory enforcement are creating a new landscape. We dive deep into the forces driving higher rates, the future of ocean freight, intermodal,…
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