Heather Erickson

Rivian Slides After Plans of $1.5B Convertible Bond Sale

Shares of Rivian Automotive Inc. dropped in pre-market trading on Thursday after the US electric vehicle (EV) maker announced its plans to sell $1.5 billion worth of convertible debt and forecast a surge in third-quarter revenue. Rivian’s stock lost as much as 9.2% to $21.50 in the previous session following the news. The shares last …

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Westpac Pacific Businesses’ Sale Collapses, Shares Fall

Shares of Westpac Banking Corp. declined on Wednesday following major selling in Wall Street overnight, which saw the big four banks logged losses and the Australian lender’s decision to call off selling its Pacific businesses due to regulatory issues in Papua New Guinea (PNG). Westpac’s stock was trading 1.47% lower at A$20.74, with Morgans Financial …

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Samsung Reportedly Launching Cloud Service This Week

Samsung is reportedly releasing cloud gaming inside Samsung Game Launcher on Galaxy phones on October 5. The new cloud service has been in beta for several months and is focused on mobile games. Unlike other cloud gaming platforms, the service usually offers personal computer (PC) and console games. Cloud gaming makes it easy for users …

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Lean Hogs Prices Rally Ahead of USDA Quarterly Report

On Thursday, prices of lean hogs soared as the United States Department of Agriculture (USDA) released its latest quarterly report. Lean hog futures for December delivery jumped 3.58% to $75.38 per pound on September 28. Likewise, October boar meat contracts finished the session 2.22% higher at $83.95 per pound. On the other hand, cash hogs …

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Meta Trains New AI with Public FB and IG Posts

Meta Platforms is training parts of its new artificial intelligence (AI) assistant with public Facebook (FB) and Instagram (IG) posts while safeguarding users’ data privacy. At the Connect conference, Meta CEO Mark Zuckerberg shifted focus from augmented and virtual reality (AR/VR) to AI. During the event, Meta Global Affairs President Nick Clegg revealed no usage …

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Australia Stocks Stumble as Retail Sales Data Disappoints

Australian stocks ended on a weak note on Thursday as shares in the consumer sector stumbled due to tepid growth in retail sales for August. The S&P/ASX 200 index closed 0.08% lower at A$7,024.80, with consumer discretionary stocks falling 1.18% to log the sharpest losses. Shares in IDP Education Ltd. were down 3.46% to A$20.95, …

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Toyota Reportedly Planning Third Plant in India

Toyota is reportedly planning to build its third manufacturing plant in India to extend its production capacity in the country. One of the two sources familiar with the plans stated that the world’s biggest car maker aims to have the facility eventually boost its production to 200,000. Toyota intends to produce vehicles at the plant …

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