AFP
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Cheap Chinese steel threatens jobs in Latin America
Latin American metal workers are clamoring for higher import tariffs as cheap Chinese steel floods the region, threatening hundreds of thousands of jobs linked to the industry. As the pressure increases, steel plant bosses and workers in countries like Chile and Brazil -- the top producer in the region and number nine in the world -- are pressing governments for higher import tariffs.
Drought-hit Panama Canal to ease traffic restrictions
The number of ships allowed through the drought-hit Panama Canal each day will be increased thanks to signs of an improvement in water levels, authorities said Monday. The Panama Canal Authority said Monday that it had informed clients it would gradually allow up to 32 ships through per day, compared with a limit of 27 announced a month ago.
Pro-Palestinian protest blocks San Francisco's Golden Gate bridge
Pro-Palestinian demonstrators blocked San Francisco's Golden Gate Bridge on Monday, completely halting traffic for hours as part of what appeared to be a coordinated day of action against Israel's war in Gaza. Demonstrators who were blocking traffic on the Golden Gate Bridge held a banner reading "Stop the world for Gaza."
Samsung returns to top of the smartphone market: industry tracker
Samsung regained its position as the top smartphone seller, wresting back the lead from Apple as Chinese rivals close the gap on both market leaders, industry tracker International Data Corporation (IDC) reported Monday. "While Apple managed to capture the top spot at the end of 2023, Samsung successfully reasserted itself as the leading smartphone provider in the first quarter," Reith said.
Lufthansa reports loss, cuts outlook after strikes
German airline giant Lufthansa reported a hefty first-quarter loss Monday and downgraded its 2024 outlook due to recent strikes, while warning of risks from conflict in the Middle East. Lufthansa also warned that the "recent escalation of the Middle East conflict and further geopolitical uncertainties pose risks to the group's full year financial outlook".
Hong Kong conditionally approves first bitcoin and ether ETFs
Hong Kong's securities regulator on Monday granted conditional approval to start the city's first spot-bitcoin and ether exchange-traded funds (ETFs), firms involved said, positioning it as a leader in Asia for the use of cryptocurrencies as investment tools. The company is "actively deploying resources in the development of spot Bitcoin ETF and spot Ethereum ETF", it said.
US retail sales up more than expected in March
Retail sales in the United States grew more than anticipated last month, government data showed on Monday, defying predictions of weaker consumer demand. While resilience in consumer spending has helped US economic growth in the last year, analysts expect demand to cool this year amid cost fatigue and high interest rates.
US to grant Samsung up to $6.4 bn for chip plants
The United States on Monday announced grants of up to $6.4 billion to South Korean semiconductor giant Samsung to produce cutting-edge chips in Texas. Under the latest agreement, Samsung will not only build a new facility to produce advanced chips, but also expand its existing facility in Texas, according to the Department of Commerce.
OpenAI comes to Asia with new office in Tokyo
ChatGPT creator OpenAI opened a new office in Tokyo on Monday, the first Asian outpost for the groundbreaking tech company as it aims to ramp up its global expansion. "We chose Tokyo as our first Asian office for its global leadership in technology, culture of service, and a community that embraces innovation," the company added.
AFP
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