theguardian_business

BP to sell North Sea business; AI companies lead record surge on Korea’s stock market – business live

📰 source: theguardian_business · 💼 business

bp put its north sea oil business up for sale as part of a portfolio review under ceo meg o'neill, while south korea's kospi surged a record 17.91% on friday, led by ai chipmakers sk hynix (+30%) and samsung (+28%).

the kospi had fallen 11% on tuesday and 6% wednesday, leaving it down just 1.1% on the week despite the wild swings. korea's authorities tightened rules on leveraged etfs because sentiment remained frothy.

other uk news: sainsbury's agreed to sell argos for £120m, ten years after buying it for over £1bn. the ftse 100 hit a record high of 10,981.83, and melrose industries paused its buyback after a chemical leak. uk petrol prices are near their highest this year after us attacks on iran.

why it matters: bp retreat from north sea and korea's ai-driven market swings show how oil and tech bets are reshaping global equity flows.

source: theguardian_business
sentiment: -0.20 · impact: 0.70

Surprise fall in US jobs last month as slow summer continues

📰 source: bbc_business · 💼 business us jobs fell by 23,000 last month, against forecasts for an 80,000 gain, with the bureau of labor statistics also revising down may and june payrolls by a combined 103,000. the unemployment rate still dipped to 4.1% from 4.2%, as labor

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

📰 source: cnbc_topnews · 💼 business homes sold for less than their asking price in 38 of the 50 largest u.s. housing markets in june, per redfin. the biggest discounts hit florida and texas: miami and west palm beach averaged nearly 5% below asking, while houston, austin, tampa, dallas, san antonio,

China is gaining ground in AI. But the U.S. still has a major advantage

📰 source: cnbc_topnews · 💼 business hugging face ceo clément delangue told cnbc china is clearly dominating on open models and could start dominating at the frontier by end of this year or next. chinese models are closing the gap with u.s. frontier systems despite limited access to cutting-edge compute. beijing-based

US strikes $1.2bn deal to pay German firm to halt offshore wind projects

📰 source: bbc_business · 💼 business rwe will abandon its offshore wind projects in the us after accepting a $1.2bn payout from the department of the interior. the german energy firm said it will reinvest the money into gas projects, including $900m for an lng export terminal in louisiana. rwe will

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects