SK Hynix to price US IPO at $149 per depository share: Report

SK Hynix (000660.KS) set the price of its American depositary shares (ADS) at $149 each ahead of its US public trading debut on the Nasdaq on Friday, Reuters and Bloomberg reported.

The initial public offering (IPO) consists of 177.9 million ADS, also called American depositary receipts, each representing one-tenth of a share of the company's common stock, or 17.79 million shares, that will trade under the ticker symbol SKHY beginning Monday.

Demand for the US sale is running at seven times the available shares, per reports from Reuters, underscoring the huge interest in a share sale seen as the largest first-share sale ever.

By Daniel Howley

Full story at Yahoo News

UK Firms Expect to Keep Raising Prices Even as Inflation Falls

Photo credit: Bloomberg

UK companies became more optimistic about inflation in June, even as they plan to raise their own prices by 4% in the coming year — double the Bank of England's CPI target.

The BOE's Decision Maker Panel showed firms see consumer prices rising 3.3% in the next 12 months, down from an expectation of 3.7% in May.

The survey was carried out between June 5 and June 19, a period spanning the announcement that the US and Iran had reached a deal to reopen the Strait of Hormuz. The news triggered a plunge in oil prices and raised hopes that inflation will peak at a lower level than previously thought.

By Andrew Atkinson

Full story at Yahoo News

Producer inflation surges to 7.8% in May as fuel increases take hold

South Africa's factory gate inflation accelerated far more sharply than expected in May as higher fuel costs rippled through the manufacturing sector, raising concerns that businesses and consumers could ultimately bear the burden, according to Business Report.

The latest data from Statistics South Africa (Stats SA), released on Thursday, showed that final manufactured producer price inflation (PPI) climbed to 7.8% year-on-year in May, up from 4.8% in April. Producer prices also increased by 2.6% compared with the previous month.

The stronger-than-anticipated reading largely reflected the impact of elevated oil prices during May, when tensions in the Middle East pushed Brent crude above $100 (R1,647) a barrel.

By Yogashen Pillay

Full story at IOL

NLNG Train 7 hits 90% completion, generates 16,000 jobs

The leadership of the Nigerian Content Development and Monitoring Board (NCDMB) and the NLNG Ltd have reaffirmed recommitment to deepen the existing close collaboration between the agencies, towards enhancing in- country value addition from operations of the gas processing and marketing company, for the benefit of the Nigerian economy.

This renewed commitment was made on Wednesday when the Managing Director and Chief Executive Officer of NLNG, Engr. Adeleye Falade paid a courtesy visit to the Executive.

Speaking during the visit, Falade said the company remains focused on deepening Nigerian Content, strengthening indigenous capacity, and retaining greater in-country value across its gas value chain.

By Femi Folaranmi

Full story at The Sun

Pound ticks higher as UK GDP growth confirmed as nearly stagnant in Q4

The pound made small advances on the dollar (GBPUSD=X) and euro (GBPEUR=X) on Tuesday morning amid signs of stagnant growth at the end of 2025 and as traders continue to watch the situation in the Middle East.

Sterling recouped some of the losses from Monday’s trade as the Office for National Statistics (ONS) confirmed an earlier estimate that growth stood at 0.1% in the fourth quarter compared with Q3.

Growth was caused by an increase of 1.2% in production, while the construction sector decreased by 2% and the services sector showed no growth, the ONS said.

By Lucy Harley-McKeown

Full story at Yahoo News.

Forbes Daily: You May Want To Think Twice Before Flipping SpaceX

Today’s Forbes Daily newsletter covers the highest inflation in three years, big banks subpoenaed, GM’s battery plans, the most successful immigrants in U.S. history and more.

Retail investors are lining up to invest in SpaceX’s massive IPO. But be cautious about flipping your shares.

Demand for the offering is reportedly nearly four times the number of available shares, which could give the company a big boost on its first day of trading. That may tempt investors to cash out, but those who do could face a brokerage penalty, including restricted access to future offerings and even a potential fine.

By Danielle Chemtob

Full story at Forbes

Two countries in comparison: Nigeria & South Africa

 

Two countries in comparison:

(NIGERIA): The state of Nigeria economy today?

"Nigeria has made meaningful progress in restoring macroeconomic stability following the implementation of bold reforms. Inflation has eased markedly, external and fiscal positions have strengthened, and economic growth has remained robust, driven largely by services."

The official unemployment rate in Nigeria is approximately 4.3% to 5.0%, according to recent figures from the Nigeria Bureau of Statistics (NBS) and the International Labour Organization (ILOSTAT).

(SOUTH AFRICA): The state of South African economy today?

Income per capita remains below 2007 levels, and close to 60% of South Africans are estimated to live below the upper-middle-income poverty line. Unemployment remained above 30% in 2025, averaging 32.4% and affecting more than 8 million people. Inflation eased to 3.2% in 2025, from 4.4% the year before.

By Olagunju Success Taiwo