Today’s Business Blitz- “Nifty’s Profit Booking, Boeing 787 Fastener Flaw, VinFast’s Asian Expansion, Apple Lawsuit Over Wage Disparity, and 2023’s Asian Gold Rush”
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1. “June 14 Trade Setup: Nifty Set for Profit Booking While Maintaining Long-Term Bullish Trend”
- Nifty expected to see profit booking but long-term bullish trend remains
- Ruchit Jain: immediate support at 23,200 and 23,000
- Neeraj Sharma: bearish pattern, profit booking likely
- Siddhartha Khemka: consolidation, uptrend likely to continue
- Bank Nifty shows weakness, immediate support at 49,000
- GIFT Nifty down 0.08% at 23,401.50
#NIFTY 50 #SENSEX #Business
2. “Boeing 787 Alert: New Fastener Flaw Unveiled Amid Increased FAA Oversight”
- Boeing discovers fastener installation errors on undelivered 787 Dreamliners.
- FAA investigates the issue as part of increased scrutiny on Boeing’s quality control.
- FAA chief Michael Whitaker announces “multiple active investigations” into Boeing.
- Fastener error highlights Boeing’s ongoing efforts to address quality lapses.
- Boeing says in-service 787s are safe and continues to check fasteners.
- Whitaker visits North Charleston plant where the 787 is manufactured.
- FAA maintains output cap on 737 Max until Boeing’s quality improvements are verified.
- Boeing delivers 11 Max aircraft in June, showing signs of production recovery.
#NORTHAM#GOV#INDUSTRIAL
3. “VinFast Expands in Asia Amid Slowing EV Market Growth”
- VinFast plans to expand in Asia despite slowing EV demand.
- India factory to open early next year; Indonesia factory construction to start soon.
- VinFast founder Pham Nhat Vuong remains optimistic about EV growth.
- Despite early challenges, VinFast plans to start production in the US in 2025.
- VinFast faces competition from Chinese EV exports and Tesla price cuts.
- The company has net debt of $2.9 billion and estimates $1–1.5 billion in 2024 capital expenditures.
- VinFast is considering financial investors and industry partners.
#ASIA#TRN#Technology
4. “Apple Faces Lawsuit from Female Employees Over Wage Disparity”
- Apple faces allegations of systemic pay discrimination against female employees in similar roles.
- Justina Jong and Amina Salgado claim the practice and policy of using pay history and expectations led to a pay gap.
- The plaintiffs say performance reviews favor men, leading to higher bonuses and pay for them.
- Jong discovered her salary discrepancy from a colleague’s W-2 form.
- The lawsuit represents over 12,000 current and former female employees in Apple’s engineering, marketing, and AppleCare divisions in California.
#TMT#Technology#Business
5. “Asian Gold Rush: Why Consumer Demand Remains High in 2023”
- Asian retail gold demand remains strong despite elevated prices due to geopolitical uncertainties.
- China, the dominant retail market, is driving prices due to turmoil in property and stock markets.
- India has seen a return in demand after a slight dip, while Vietnam’s consumption is expected to grow 10%.
- Japan is experiencing increased purchases despite the weakening yen.
- Scrap metal supply has tightened, indicating consumer reluctance to sell gold.
- Long-term bullishness may be tempered after the current election cycle.
- Experts: Rhona O’Connell of StoneX, Ruth Crowell of LBMA, Huynh Trung Khanh of Vietnam Gold Traders Association, Bruce Ikemizu of Japanese Bullion Market Association, Nikos Kavalis of Metals Focus
#ASIA#Business#ASIATOP
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