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SOBO News21 articles
Novo Nordisk B Shares Surge on South African Court Ruling Against Compounder
Novo Nordisk B shares surged 9.9% in three sessions after a South African court halted iDexis from supplying compounded semaglutide, potentially shifting demand to Novo.
Tech Selloff Drags US Futures Lower; South Korea's KOSPI Plunges 10%
US stock futures fell sharply Tuesday as a tech selloff erased optimism over US-Iran talks. South Korea's KOSPI plunged nearly 10% on regulatory ETF warnings.
SK Hynix Ousts Samsung as South Korea's Top Stock by Market Cap
SK Hynix overtook Samsung Electronics as South Korea's most valuable listed company, fueled by soaring demand for its high-bandwidth memory chips used in AI servers.
Southwest Airlines Targets 2028 for AWS Cloud and AI Transformation
Southwest Airlines plans to shift core systems to AWS cloud and AI by 2028, supporting its commercial overhaul to assigned seats and bag fees. Shares dipped 1.6%.
Coupang Shares Jump as South Korea Privacy Fine Decision Nears
Coupang shares climbed ahead of a South Korean privacy ruling that could fine the company up to 1.36 trillion won over a data breach. The decision, expected Thursday, will weigh on the stock.
Nvidia's AI Deals in South Korea Face Market Skepticism as Chip Rout Deepens
Nvidia shares remain under pressure near Friday's steep decline despite new AI infrastructure deals in South Korea, as the broader chip sector reels from rate hike concerns and valuation fears ahead of Monday's open.
Southwest Airlines Eyes Long-Haul International Expansion to Boost Revenue
Southwest Airlines is expanding its network with new leisure routes and long-haul international ambitions, targeting eight to 12 destinations within five years to drive growth after record Q1 results.
Glencore Eyes Monday Catalyst as South Africa Greenlights Ferrochrome Power Relief
Glencore shares ended the week nearly unchanged at 567.80 pence, as South Africa approved a temporary discounted power rate for the Glencore-Merafe ferrochrome venture, offering cost relief ahead of Monday's market open.
STB Pauses $85B Rail Merger, Demands More Data from Union Pacific and Norfolk Southern
The STB accepted Union Pacific and Norfolk Southern's revised merger filing but paused the case, demanding more information by July 27. Shares fell 4.2% and 5.4%.
Energy Vault and Eskom Partner on Gravity Storage at South African Coal Plant
Energy Vault and Eskom have inked a deal to build a 25-MW gravity storage system at Hendrina Power Station, with potential expansion to 4 GW, targeting 4 GWh across Southern Africa by 2035.
Moody's: South Africa's Debt Stabilizing, Iran Conflict Poses Growth Risk
Moody's says South Africa's debt has peaked at 86.8% of GDP and is set to decline, but warns the Iran conflict could reduce growth by up to 0.5 percentage points in 2026-27.
Union Pacific Warns It May Walk Away From $85 Billion Norfolk Southern Deal Amid Regulatory Hurdles
Union Pacific may drop its $85 billion Norfolk Southern merger if regulators require major line sales or trackage rights. The STB is reviewing the revised application.
Norfolk Southern Faces Headwinds from Fuel Costs and Merger Uncertainty
Norfolk Southern reported a 27% drop in Q1 net income to $547 million, weighed by higher fuel costs and merger expenses. Shares slipped 0.5% as investors focused on cost pressures and weak freight volumes.
South32 Targets 90% Base Metals Output in Strategic Shift to Americas
South32 aims to derive 90% of its production from base metals like copper and zinc within the next year and a half, accelerating its strategic pivot toward North American assets. The shift comes amid a CEO transition and the planned idling of its Mozal aluminum smelter in Mozambique.
South32 pivots to base metals as Mozal smelter closure looms
South32 Ltd is accelerating its transition toward base metals production, with CEO Graham Kerr projecting 90% of output will soon come from these operations. The shift coincides with the impending closure of its Mozal aluminum smelter in Mozambique.
South32 Shares Dip Amid Copper Volatility and Dividend Focus
South32 shares closed lower at A$4.39, with markets focused on copper price volatility and the company's interim dividend ex-date of March 5. The miner also plans to idle its Mozal aluminium smelter in Mozambique.
South32 Gains on Copper Rebound Amid Thin Lunar New Year Trading
South32 Ltd advanced 0.46% to close at A$4.41 on Thursday, supported by a rebound in copper prices. Trading volumes remained subdued due to the Lunar New Year holiday in China.
South32 Rises on BHP Momentum; Copper Retreat Caps Gains
South32 closed 0.7% higher at A$4.44, lifted by sector sentiment after BHP's earnings beat. Gains were capped by a broker downgrade and softer copper prices amid thin holiday trading.
Glencore Shares Surge 4.8% on $250M South African Metals Deal Ahead of Earnings
Glencore's stock rebounded sharply in London trading after a subsidiary secured a major prepayment agreement for copper and zinc in South Africa. Investors now await the company's full-year results scheduled for February 18.
South32 Gains as Mozambique Pledges Support for Mozal Smelter
South32 shares rose after Mozambique's energy minister committed to keeping the Mozal aluminium smelter operational. Investors await the company's half-year results on Feb. 12 for further clarity.
South Korean Regulators Eye Stricter Crypto Oversight After Bithumb's $40 Billion Error
South Korea's financial watchdog is pushing for tighter cryptocurrency regulations following a major incident at exchange Bithumb, which mistakenly distributed over $40 billion in Bitcoin to users. Authorities are considering enhanced inspections and addressing systemic vulnerabilities.