AI and Inflows Bolster Korean Won, Tesla Shifts Focus, and More: Global Business Updates

South Korean Won Surges on AI Excitement and Inflows

The South Korean won has experienced its longest winning streak in 13 years, as investors show enthusiasm for artificial intelligence (AI) and anticipate a key bond index inclusion. The currency's gains have been driven by a wave of inflows from foreign investors and a renewed focus on technology sectors.

Clearlake-Owned Pretium Packaging Files for Bankruptcy

Pretium Packaging, a company owned by private equity firm Clearlake Capital Group, has filed for bankruptcy after reaching a deal with lenders to restructure its capital structure. The filing comes as the packaging industry faces challenges from increased competition and rising production costs.

Hedge Fund Aspex Posts Double-Digit Returns Amid AI and Corporate Reforms

Hermes Li's $14 billion Aspex Management HK Ltd. reported a 26% return in 2025, thanks to artificial intelligence and corporate governance reforms that lifted Asia hedge funds. The strong performance comes as investors increasingly turn to technology and data-driven strategies in a rapidly changing market.

Chinese Baijiu Shares Surge on Holiday Demand

Shares of Kweichow Moutai Co., a leading Chinese distiller, saw significant gains amid optimism over growing demand for baijiu during the Lunar New Year holidays. The surge in demand reflects the continued popularity of the traditional Chinese liquor among consumers.

Tesla Announces First Annual Revenue Drop and Model S, X Production End

Multi-billionaire Elon Musk announced that Tesla would see its first annual revenue drop as the company shifts its focus to AI and robots. Musk also announced plans to end production of the Model S and Model X vehicles. The moves come as Tesla faces increased competition from rival automakers and shifting consumer preferences.

Insurance Platform Ethos Prices IPO at Midpoint of Range

Insurance platform Ethos Technologies Inc. priced its initial public offering (IPO) at $19 per share, according to a person familiar with the matter. The IPO comes as the insurtech industry continues to attract significant investment and attention from both private and public markets.

Meta to 'Dramatically Change' with AI, Zuckerberg Says

Mark Zuckerberg, founder and CEO of Meta Platforms Inc. (formerly Facebook), announced that the company would 'dramatically change' as it embraces artificial intelligence. The comments seemed to hint at further layoffs at the tech giant.

Water Bills to Rise Again in England and Wales

The average annual household water bill in England and Wales will increase by £33 from April, as utilities seek to recover costs and maintain infrastructure. The hike comes amid ongoing debates over the affordability and sustainability of water bills.

First Quantum Seeks Buyer for Turkish Copper Mine

First Quantum Minerals Ltd. is looking to sell its copper and zinc mine in Turkey as it seeks to strengthen its balance sheet. The move comes as the mining industry faces challenges from declining commodity prices and increased competition.

Rep. Sherman Calls Fed Investigation a 'Phony' Attempt

Rep. Brad Sherman (D-CA) has called the Federal Reserve investigation a 'phony' attempt to intimidate the central bank. Speaking with Romaine Bostick and Katie Greifeld on The Close, Sherman also revealed that Kevin Warsh supports a digital dollar to compete with cryptocurrencies.

Atlanta FBI Boss Reportedly Ousted after Questioning 2020 Election Probe

The special agent in charge of the FBI's Atlanta field office, Paul W Brown, was reportedly removed from his post after questioning the Trump administration's renewed interest in investigating the role of Fulton county, Georgia, in the 2020 election. Brown had expressed concerns over the unsubstantiated allegations of voter fraud.

LG Energy Targets Data Center Energy Needs as EV Outlook Dims

South Korean battery maker LG Energy Solution Ltd. is banking on surging demand from AI data centers for energy storage systems to offset cooling global demand for electric cars. The move comes as the EV market faces challenges from increasing competition and shifting consumer preferences.

Roof Collapses at Arkansas Rodeo Arena Due to Snow

The Saline County Fairgrounds arena in Arkansas was vacant when the roof caved in under the weight of snow and sleet following a winter storm. The incident serves as a reminder of the potential dangers posed by extreme weather conditions.

Newcastle Proves It Can Mix it with European Champions

Newcastle United left the Parc des Princes with immense pride following a 1-1 draw against Paris St-Germain. The result marked a significant achievement for the English club, which has experienced a range of emotions at the iconic French stadium.

Malaysian Ringgit Surges on Structural Factors Beyond Dollar's Weakness

The Malaysian ringgit's relentless rally is being driven by a range of structural factors beyond the dollar's broad weakness. The gains suggest that the ringgit's strength will likely be sustained, as the country continues to attract investment and foreign interest.

Driverless Taxis Set to Launch in the UK as Soon as September

Waymo has laid out plans for a robotaxi service in London, with a pilot scheme due to begin in April. The announcement marks a significant step forward in the UK's efforts to embrace autonomous vehicles and reduce its carbon footprint.

Dollar Jumps Most Since November as Bessent Comments Halt Slump

The dollar posted its biggest one-day gain since November, halting a week of declines after US Treasury Secretary Janet Yellen expressed support for a stronger currency. The move comes as investors grapple with ongoing uncertainty over the global economic recovery and geopolitical tensions.

Assisted Dying Bill 'No Hope' of Passing Without Lords' Change

Lord Falconer has warned that the assisted dying bill has 'absolutely no hope' of passing without a 'fundamental change' in approach. The comments come as the debate over assisted dying continues to generate heated discussions and controversy in the UK.

Bloomberg: Lessons for Texas from Winter Storm

Bloomberg's Julie Fine recaps the potential lessons for Texas after the latest winter storm crimped oil and gas producers. She speaks with Romaine Bostick on Bloomberg Television.

Cricketers Banned, University Club Suspended over Initiation

Cardiff University has suspended its cricket club and banned several players following an event at a Cardiff pub that raised 'significant' concerns around student safety. The incident serves as a reminder of the importance of maintaining a safe and inclusive environment on campus.

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