Money Moves

South Korean companies may reconsider their investments in the United States following a significant immigration raid at a Hyundai plant in Georgia last week, as expressed by President Lee Jae-myung. Over 300 South Korean nationals were arrested during this raid, with their return home set for Friday after delays attributed to issues on the US […]

Concerns are rising regarding the placement of battery energy storage systems (BESS) in New York City, particularly in Staten Island, where city officials express unease over their proximity to residential areas and gas stations. City councillor Robert Holden questions the rationale behind such placements, citing potential safety risks associated with these facilities. BESS units utilize

Ministers are facing criticism for insufficient reforms to Lifetime ISAs (LISAs), according to the Treasury Committee. With the November Budget approaching, MPs are questioning whether the current structure of LISAs represents a prudent use of taxpayer money, projecting a cost of £3 billion to the government over five years. LISAs are available to individuals under

American pharmaceutical company MSD, known as Merck in the United States, has announced it will cancel its planned £1 billion expansion in the UK, citing insufficient government investment in the sector. The company stated it will shift its life sciences research operations to the U.S. and eliminate more than 100 jobs in the UK due

Shares of Klarna, a buy-now, pay-later lender, experienced a significant increase on their first day of public trading in the United States. The company achieved a market valuation exceeding $19 billion. Founded in 2005, Klarna allows consumers to pay for purchases in smaller, interest-free installments, and has gained popularity, boasting around 93 million active users

The US Labor Department’s internal watchdog has initiated an investigation into the methods used for collecting jobs and inflation data, following criticism from the White House. The Labor Department’s inspector general’s office announced it would examine the challenges faced by the Bureau of Labor Statistics (BLS) in gathering and updating this information. This investigation comes

Elon Musk has recently lost the title of the world’s richest person to Larry Ellison, co-founder of Oracle. As of Wednesday morning, Ellison’s net worth reached $393 billion, surpassing Musk’s $385 billion, according to the Bloomberg Billionaires Index. This change is attributed to a significant increase in Oracle’s stock value, which rose over 40% following

Shares of Associated British Foods (ABF), the parent company of Primark, fell over 10% following a warning regarding “consumer caution” due to increasing cost-of-living pressures. ABF’s CEO, George Weston, indicated that rising inflation and fears of unemployment are contributing to a more cautious spending behavior among consumers. The company reported that market conditions remain “challenging,”

The Advertising Standards Authority (ASA) has mandated the withdrawal of social media advertisements for Strongbow and Jägermeister due to concerns over how these brands portrayed their alcoholic products. The ASA found that two Jägermeister ads suggested alcohol was essential for social success, which they deemed irresponsible and in violation of broadcasting regulations. Similarly, they ruled

Jaguar Land Rover (JLR) has confirmed that hackers may have taken some data during a cyber-attack that has disrupted car production and resulted in employees being sent home. Initially, the company, which is owned by Tata Motors of India, expressed confidence that no customer information had been compromised. However, 11 days after the incident, JLR