The vote on Mr Musk’s pay is seen as test of confidence in his leadership.
Markets think the odds are high for two Fed rate cuts in 2024 if US inflation continues to cool.
Meanwhile, workers fired by SpaceX filed a lawsuit accusing Mr Musk of fostering a sexist “Dark Ages” culture.
https://www.straitstimes.com/business/elon-musk-pursued-women-working-at-spacex-for-sex-wsj-says
Higher-for-longer rates likely to keep the US dollar strong against other currencies.
https://www.straitstimes.com/business/what-fed-s-rate-cut-delay-means-for-us-and-the-world
The offer represents a premium of 20.8 per cent over the stock’s last traded price.
Temasek was said to be seeking more than US$2 billion (S$2.69 billion) for the business.
Tech giant said its plan cuts the time it takes to produce AI chips by around 20 per cent.
https://www.straitstimes.com/business/samsung-offers-plan-to-speed-up-delivery-of-ai-chips
The company collapsed in 2022, wiping out US$40 billion in investor assets.
Dow Jones Industrial Average edges 0.1 per cent lower to 38,712.21.
It said “modest” progress had been made towards its long-term inflation target of 2 per cent.
https://www.straitstimes.com/business/economy/us-fed-holds-rates-pencils-in-just-one-cut-this-year