News
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OpenAI Tops 3 Million Paid Business Users and Eyes $12.7 Billion Revenue, Korea Fuels Growth as No. 2 Market
TradingKey - On Wednesday, leading artificial intelligence company OpenAI announced that its number of paid business users has increased to 3 million, a significant growth from 2 million in February. This increase is primarily driven by subscriptions to the Enterprise version (ChatGPT Enterprise)...TradingKey
Thu, Jun 5
Lee Jae-myung’s Victory Sparks “Korea Revaluation” — Is the Era of the “Korea Discount” Over?
TradingKey - The successful election of Lee Jae-myung, the presidential candidate from the ruling Democratic Party who pledged political stability and economic revitalization, has brought a wave of optimism to South Korea’s stock market and currency.TradingKey
Thu, Jun 5
China commerce ministry to join govt crackdown on intense auto competition
BEIJING, June 5 (Reuters) - China's commerce ministry said on Thursday that it would collaborate with other government departments to step up rectification of the excessive competition in the auto market.The ministry will strengthen compliance guidance to ensure fair market competition and promo...
Reuters
Thu, Jun 5
Stablecoin Issuers to Become Second-Largest Holder of U.S. Treasuries by 2028?
Experts predict that the passage of the GENIUS Act, a landmark stablecoin regulation, could catalyze a tenfold expansion in the stablecoin market over the next three years. This growth is expected to result in stablecoin issuers becoming the second-largest holders of U.S. Treasury securities.
LIVE MARKETS-Before the bell: awaiting the ECB, and NATO meeting
European shares were set for a muted start on Thursday ahead of an almost-certain rate cut by the European Central Bank, and a NATO meeting, where defence ministers are due to discuss Donald Trump’s demand for significant increases in spending.Reuters
Thu, Jun 5
Japan's 30-year bonds rise as weak auction adds to pressure to curtail issuance
TOKYO, June 5 (Reuters) - Japan's 30-year government bond prices rose after the weakest auction of the securities in more than a year added to pressure on the Ministry of Finance to reduce supply of super-long notes.Reuters
Thu, Jun 5
Citi to cut 3,500 technology jobs in China as part of global revamp
HONG KONG, June 5 (Reuters) - Citigroup Inc C.N will reduce the number of employees at two of its technology centres in China by about 3,500, the bank said on Thursday, as part of its efforts to simplify and shrink its global tech operations to improve risk and data management.The reduction of staff
Reuters
Thu, Jun 5
ADP Employment and Services PMI Miss Expectations, Trump Urges Powell: "Must Now Lower the Rate"
TradingKey – Just one day after stronger-than-expected job openings data eased concerns about U.S. economic growth, weak ADP employment figures and a surprise contraction in the ISM services sector reignited fears of a slowdown. President Donald Trump once again pressured Federal Reserve Chair...TradingKey
Thu, Jun 5
Japan's 30-year bonds rise after weak auction outcome, in line with expectations
TOKYO, June 5 (Reuters) - Japan's 30-year government bond prices rose after an auction of the notes saw its weakest outcome in one and a half years, in line with market expectations.The bid-to-cover ratio, a measure of demand that gauges the number of bids against the amount of securities on offer,Reuters
Thu, Jun 5
Trillion-Dollar Deficit Tax Bill: Musk Calls for Public Revolt as Trump Pushes Debt Ceiling
TradingKey — U.S. Congress is embroiled in heated debate over Trump’s tax bill that risks ballooning the federal deficit and exacerbating the national debt crisis. The divide has grown so sharp that Elon Musk and President Donald Trump are now publicly at odds—with Musk urging Americans to oppose...
TradingKey
Thu, Jun 5
US auto suppliers say immediate action needed on China rare earths restrictions
WASHINGTON, June 4 (Reuters) - A group representing auto suppliers in the United States called on Wednesday for immediate action to address China's restricted exports of rare earths, minerals and magnets, warning the issue could quickly disrupt auto parts production.Reuters
Thu, Jun 5
China May services activity grows despite US tariff concerns, Caixin PMI shows
BEIJING, June 5 (Reuters) - China's services activity expanded at a slightly faster pace in May, with new orders growing more quickly than in April, though new export orders declined due to uncertainty stemming from U.S. tariffs, a private sector survey showed on Thursday.Reuters
Thu, Jun 5
