May 2026 – Page 88

South Korea Grapples With an AI Boom Spurring $340000 Bonuses for Tech Workers

South Korea’s AI sector is creating fierce talent competition with firms offering bonuses as high as $340000 to attract engineers.

Canada agreed to allow a tranche of Chinese electric vehicles under terms negotiated between PM Mark Carney and President Xi Jinping.

Pfizer announced a massive deal with Chinese biotech Innovent Biologics to co-develop and commercialize new cancer therapies.

SpaceX’s IPO documents offer a rare look into Elon Musk’s plans for the rocket company amid broader speculation about vertical integration.

Strong earnings guidance from Snowflake renewed investor enthusiasm about the AI sector and drove broad tech sector gains.

Salesforce beat earnings expectations as its AI-powered Agentforce platform crossed the $1 billion annualized revenue milestone.

Chicago Fed President Austan Goolsbee warns that energy price pressures driven by the Iran war are complicating the Fed’s inflation outlook.

Minneapolis Fed President Neel Kashkari says the central bank remains focused on inflation despite healthy employment data.

The PCE price index matched forecasts at 3.3% as the Federal Reserve monitors whether price pressures are easing.

The S&P 500 gained 0.58% to 7563.63 and Nasdaq rose 0.91% to 26917.47 as negotiators reportedly reached a ceasefire extension deal.