Markets

Hyundai Motor's union in South Korea votes to strike

Published

2 weeks ago

June 24, 2024

SEOUL (Reuters) -Hyundai Motor’s unionised employees in South Korea voted for potential strike motion after talks with the corporate over wage will increase and an extension of the retirement age stalled, the automaker’s union mentioned on Monday.

The union, one of many largest within the nation with greater than 43,000 members, mentioned that nearly 90% of its members had authorized strike motion until the corporate accepts the union’s calls for.

A strike would mark the primary such motion in six years associated to wage negotiations on the South Korean carmaker and will disrupt manufacturing of some in style autos at house, which Hyundai has been exporting to offset its sluggish home gross sales.

The union is in search of a minimal primary month-to-month pay enhance of 159,000 received ($114.57) and efficiency pay equating to 30% of Hyundai’s 2023 web revenue. It is usually demanding a rise to the retirement age to 64 from 60.

A Hyundai Motor (OTC:) representiative was not instantly out there for remark.

($1 = 1,387.8400 received)

Markets

30% of My Portfolio Is Invested in Simply 5 Shares — Right here's Precisely What They Are

Published

42 mins ago

July 8, 2024

Sir Chartist

I usually haven’t got a ton of focus in my portfolio, however on account of current market strikes, greater than 30% of my capital is invested in simply 5 shares. Some are frequent slow-and-steady portfolio spine shares, whereas others may shock you. This is a rundown of what all 5 are.

*Inventory costs used have been the morning costs of July 2, 2024. The video was revealed on July 3, 2024.

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Markets

Eli Lilly to purchase bowel illness drug developer Morphic for $3.2 billion

Published

54 mins ago

July 8, 2024

Sir Chartist

(Reuters) -Eli Lilly will purchase Morphic Holding (NASDAQ:) for $3.2 billion in money, the businesses mentioned on Monday, giving the U.S. drugmaker entry to an experimental drug for sorts of inflammatory bowel illnesses.

Shares of drug developer Morphic surged 76% to $56.15 premarket on Lilly’s provide of $57 per share, which represents a 79% premium to inventory’s final closing worth.

Morphic’s lead drug MORF-057 is an oral remedy that’s being evaluated in two section 2 research in ulcerative colitis sufferers and one section 2 examine in Crohn’s illness.

Ulcerative colitis is a situation the place irregular reactions of the immune system trigger irritation and ulcers on the inside lining of the colon, which may result in diarrhea, passing of blood with stool and belly ache.

Final yr, the U.S. Meals and Drug Administration accepted Lilly’s Omvoh for treating adults with moderate-to-severe lively ulcerative colitis.

The drug is amongst Lilly’s potential development drivers for this decade alongside its diabetes and weight problems medicine, Mounjaro and Zepbound.

Different drugmakers comparable to Abbvie Inc, Pfizer (NYSE:) and Johnson & Johnson (NYSE:) are additionally jostling for a share of the multi-billion greenback bowel illness market.

Markets

HIVE Digital inventory rallies over 9% as Bitcoin miner bolsters crypto reserves to 2.5k BTC

Published

1 hour ago

July 8, 2024

Aanya Laghari

Canadian Bitcoin mining firm HIVE Digital has launched a June monetary report, revealing it has elevated its reserves to 2,503 BTC saved on the steadiness sheet.

HIVE Digital Applied sciences, the Vancouver-based Bitcoin mining firm, appears unaffected by the current miner capitulation that brought on Bitcoin (BTC) to plunge under the $56,000 mark.

In a Jul. 8 press launch, the corporate revealed that as of Jul. 7, its crypto holdings on the steadiness sheet had elevated to 2,503 BTC, a greater than 2% enhance in comparison with the prior month. In whole, HIVE Digital mined 119 BTC in June, conserving the identical efficiency as in Might.

Regardless of current market turbulence that noticed Bitcoin plunge under the $56,000 mark, HIVE Digital seems unaffected. CEO Aydin Kilic addressed the agency’s operational enlargement, noting that the remaining batch of Bitmain S21 orders “are able to ship, and actually have been upgraded to S21 Professional, representing roughly 1,150 S21 Professional miners from HIVE’s unique order in December.” Kilic added that the most recent acquisition of 1,000 S21 Professional Miners revealed in Might is now “able to ship,” with the overall fleet of recent rigs anticipated to be put in by the tip of July.

You may additionally like: Bitcoin rally hinges on charge minimize, Bitfinex exec says

“Subsequently, we anticipate the overall 2,150 pending S21 Professional miners to ship within the subsequent week, bringing HIVE’s whole operational hashrate to five.5 EH/s as soon as totally put in, with a world fleet effectivity of 24.5 J/TH. HIVE expects these machines to be put in earlier than the tip of July.”

Aydin Kilic

Following the discharge of the constructive report, HIVE Digital’s shares (HIVE) soared by over 9.5% on Nasdaq, leaping to $3.34, based on information from Google Finance.

HIVE Digital’s reserve boosting comes regardless of large capitulation amongst its rivals. As QCP analysts famous in a analysis report, Bitcoin miners are exhibiting “indicators of capitulation” because the cryptocurrency’s worth slid under $56,000 late Jul. 5. Amid the deteriorating panorama, the hashprice mark neared “its all-time low,” a stage final seen in the course of the bear market.

Learn extra: Bitcoin mining shares slumping in pre-market buying and selling