QtrendsEasyJet surges 13% on a $7.7 billion rival takeover bid from Apollo, sparking a bidding war. SK Hynix raises $26.5 billion in the largest US share sale by a Korean company, aiming to narrow the 'Korea discount.' US gas prices post the biggest rise since early May amid elevated oil and Gulf shipping disruptions. US home prices hit an all-time high as mortgage rates rise, with wealthy AI workers driving San Francisco prices. China allows limited imports of Nvidia H200 chips, while CPI and PPI data show moderate growth.
EasyJet shares jumped 13% after Apollo Global Management submitted a $7.7 billion rival takeover bid, topping a previous offer from another private equity group. The unsolicited bid has ignited a bidding war for the British low-cost carrier. EasyJet's board has agreed to engage with Apollo, signaling a potential sale. Analysts say the deal reflects strong appetite for European aviation assets.
South Korean memory chip maker SK Hynix has raised $26.5 billion in the largest-ever US share offering by a Korean company. The mega listing on Wall Street is seen as a strategic move to narrow the so-called 'Korea discount' on its valuation. The proceeds will likely fund expansion in AI memory chips. The deal underscores surging global demand for high-bandwidth memory used in AI data centers.
US gasoline prices have risen sharply, posting the largest single-week gain since early May. The increase is driven by elevated crude oil prices and a slowdown in shipping traffic in the Gulf of Mexico. Analysts warn that further disruptions could push prices higher in the coming weeks. NPR advises consumers on strategies to cope with volatile pump prices.
US home prices have reached an all-time high even as sales slow and mortgage rates climb. Wealthy workers in the AI sector are driving particularly sharp price increases in San Francisco. Analysts point to a growing divide between affluent buyers and those priced out of the market. MarketWatch reports that the housing market is increasingly powered by the wealthy.
China has authorized limited imports of Nvidia's H200 chips, signaling a slight easing of semiconductor tensions. China's Consumer Price Index rose moderately in June, while Producer Price Index increased 4.1%, reflecting steady industrial demand. The week also saw a Chinese submarine test a missile into the Pacific. Looking ahead, Q2 GDP data and CXMT's mainland IPO are expected next week.