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27.05.26 - 13:00
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Samsung Inks Labor Deal, Averts Chip Strikes As AI Bonus Boom Fuels Ferrari Purchases (ZeroHedge)
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Samsung Inks Labor Deal, Averts Chip Strikes As AI Bonus Boom Fuels Ferrari Purchases
Global stocks pushed higher on Wednesday as momentum in AI and memory chips fueled a continued risk-on rally. The MSCI All Country World Index, South Korea's Kospi, and Japan's Nikkei all hit record highs.
The rally was led by chip stocks, with SK Hynix and Micron's market values topping $1 trillion for the first time. Sentiment from Tuesday into Wednesday was fueled by a bullish note from UBS analyst Tim Arcuri on Micron, which ended 19% higher in the US.
Sentiment on Wednesday was boosted after Samsung's largest union approved a labor deal that gives chip workers an average bonus of roughly $340,000, avoiding what could have been a devastating strike that might have disrupted the global memory chip supply chain amid historic demand from data center buildouts.
Samsung and its labor union have buried the hatchet and signed a new wage agreement earlier today. This means the company will not face any chip ...
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27.05.26 - 12:54
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AI Optimism Sends Stocks Rocketing Higher; BP′s Chair Ousted | The Opening Trade 5/27/2026 (Bloomberg)
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The rally in US stocks is set to stretch into a fifth day as optimism around artificial intelligence, lower oil prices and easing bond yields spurred traders to grow increasingly bullish.
Former BP Plc Chairman Albert Manifold says he was fired without warning or explanation and will challenge the company's version of events, deepening the turmoil around the UK oil major's latest leadership change.
The company didn't provide further details in its statement, but people close to BP who requested anonymity said there'd been complaints about aggressive behavior by Manifold toward employees, as well as of mishandling sensitive information and seeking to bypass the board.
The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Joumanna Bercetche and Tom Mackenzie. (Source: Bloomberg)...
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