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Asian markets extended a global rally Thursday after below-forecast US inflation provided a much-needed shot of relief to investors and revived hopes for interest rate cuts this year.Strong earnings from Wall Street banking titans and a ceasefire deal between Israel and Hamas added to the optimistic mood on trading floors.Still, there remains a certain amount of caution ahead of Donald Trump returning to the White House next week, having promised to ramp up tariffs on imports, and slash taxes and regulations that many fear could reignite inflation.Data on Wednesday showing core consumer prices rose less than expected in December helped spur a surge in New York-listed stocks led by tech giants including Nvidia, Amazon and Google-parent Alphabet.The S&P 500 and the Dow piled on more than one percent and the Nasdaq more than two percent, putting them back in the green for 2025, with healthy earnings reports from Goldman Sachs, JPMorgan Chase, BlackRock and Bank of New York Mellon also lifting sentiment.The inflation figures tempered worries that the Federal Reserve might not cut rates this year — or possibly even hike them — following a blockbuster jobs report on Friday.Swap traders are now eyeing a reduction in July, having been looking at September or October at best.New York president John Williams also provided some soothing comments, saying “the process of disinflation remains in train”.Preston Caldwell, chief US economist at Morningstar, said: “Data on economic growth has continued to roll in stronger than expected, contributing to the upward revision in our 2024 expectation.”However, strong growth has helped generate a large rise in bond yields. If it persists, higher borrowing costs will seriously degrade (gross domestic product) growth in 2025 and 2026.”Still, we expect the Fed to respond adroitly to decelerating growth in 2025 and 2026 with hefty rate cuts, ultimately triggering a growth rebound in 2027 and 2028.”Asian markets rose across the board.Hong Kong, Sydney, Seoul, Taipei, Manila and Jakarta all piled on more than one percent, while there were also gains in Shanghai, Singapore and Wellington.Tokyo also edged up but was limited by a pick-up in the yen against the dollar after the inflation data and as investors assess the chances of a rate hike by the Bank of Japan at its meeting next week.Oil prices also extended a surge this week fuelled by fresh US-UK sanctions on Russia’s energy sector and amid fears Trump will ramp up measures against key producer Iran when he takes the Oval Office.Meanwhile, data Wednesday showed US inventories fell for an eighth week to their lowest since April 2022, with the International Energy Agency saying a colder winter has pushed global demand higher. – Key figures around 0230 GMT -Tokyo – Nikkei 225: UP 0.3 percent at 38,551.96 (break)Hong Kong – Hang Seng Index: UP 1.5 percent at 19,577.59Shanghai – Composite: UP 0.7 percent at 3,249.96Euro/dollar: UP at $1.0297 from $1.0293 on WednesdayPound/dollar: DOWN at $1.2236 from $1.2239Dollar/yen: DOWN at 155.65 yen from 156.52 yenEuro/pound: UP at 84.15 pence from 84.08 penceWest Texas Intermediate: UP 0.3 percent at $80.27 per barrelBrent North Sea Crude: UP 0.2 at $82.22 per barrelNew York – Dow: UP 1.7 percent at 43,221.55 points (close)London – FTSE 100: UP 1.2 percent at 8,301.13 (close) 

Stock markets surged on Wednesday, buoyed by robust US bank earnings and encouraging inflation data from the United States and Britain.Wall Street’s three main indexes closed sharply higher after US financial titans Goldman Sachs, JPMorgan Chase, BlackRock and others posted stellar quarterly results.Fresh data published earlier Wednesday showed headline inflation in the Untied States accelerated in the 12 months to December, but actually slightly eased once volatile food and energy prices were stripped out, fueling optimism in the markets.”There’s a lot of relief from the (inflation) data this morning,” Angelo Kourkafas from Edward Jones told AFP, noting there had been a positive market reaction to the decline in the so-called “core” inflation measure.European stock markets closed firmly in the green, while Asia finished on a mixed note.- ‘Look through price increases’ -Kathleen Brooks, research director at trading platform XTB, noted that the US Federal Reserve closely looks at core inflation to make decisions on interest rates.”The Fed could choose to look through price increases for volatile commodities that they cannot control,” she said. “Instead, the Fed may focus on core inflation,” she said.Analysts have pared back their expectations on the number of Fed rate cuts for this year.They believe policymakers will hold borrowing costs steady at the next decision-making meeting later this month as inflation remains above its two-percent target.In Britain, official figures showed that inflation unexpectedly cooled to 2.5 percent in December, easing some pressure on the Labour government as it struggles to grow the economy.The pound rose against the dollar, with analysts forecasting that the Bank of England would likely cut its key interest rate next month as the rate of price increases cools.Separate official data showed Europe’s biggest economy Germany contracted for a second straight year in 2024, with little hope of a strong recovery ahead of national elections next month.- Nintendo jump -In Asia, Tokyo’s stock market ended down, though games giant Nintendo piled on more than two percent and briefly hit a record high as traders anticipated it would soon release its much-anticipated Switch 2 console. The Nikkei 225’s drop also came as the yen strengthened, with traders weighing the chances of a rate hike by the Bank of Japan this month.Oil prices soared more than 2.6 percent after the International Energy Agency said a colder winter has pushed global demand higher. Oil traders were also digesting recent US sanctions on Russia and Iran, raising fears they could restrict supplies from those countries.The market optimism also trickled through into the cryptocurrency markets, with bitcoin briefly returning above $100,000 before paring some gains.- Key figures around 2130 GMT -New York – Dow: UP 1.7 percent at 43,221.55 points (close)New York – S&P: UP 1.8 percent at 5,949.91 (close)New York – Nasdaq Composite: UP 2.5 percent at 19,511.23 (close)London – FTSE 100: UP 1.2 percent at 8,301.13 (close) Paris – CAC 40: UP 0.7 percent at 7,474.59 (close)Frankfurt – DAX: UP 1.5 percent at 20,574.68 (close)Tokyo – Nikkei 225: DOWN 0.1 percent at 38,444.58 (close)Hong Kong – Hang Seng Index: UP 0.3 percent at 19,286.07 (close)Shanghai – Composite: DOWN 0.4 percent at 3,227.12 (close)Euro/dollar: DOWN at $1.0293 from $1.0310 on TuesdayPound/dollar: UP at $1.2239 from $1.2211Dollar/yen: DOWN at 156.52 yen from 157.98 yenEuro/pound: DOWN at 84.08 pence from 84.40 penceBrent North Sea Crude: UP 2.6 at $82.03 per barrelWest Texas Intermediate: UP 3.3 percent at $80.04 per barrelburs-rl/sbk/da-tmc/bs

The United States unveiled further export controls Wednesday on advanced computing semiconductors, increasing due diligence requirements for businesses as it seeks to prevent diversion of tech to China despite existing restrictions.The move — part of a series of actions before President Joe Biden leaves office — comes days after US officials announced fresh curbs on AI chip exports, seeking to make it harder for Beijing to access the advanced technology.”These rules will further target and strengthen our controls to help ensure that the PRC and others who seek to circumvent our laws and undermine US national security fail in their efforts,” Commerce Secretary Gina Raimondo said, referring to the People’s Republic of China.Washington has expanded its efforts in recent years to curb exports of state-of-the-art chips to China, concerned that these can be used to advance Beijing’s military systems and other tech capabilities.But there have been worries about circumvention.The latest controls aim to hold back China from getting high-end computing semiconductors needed to develop advanced artificial intelligence capabilities, the US commerce department said.”By enhancing due diligence requirements, we are holding foundries accountable for verifying that their chips are not being diverted to restricted entities,” said Alan Estevez, Commerce Department under-secretary for industry and security.The outgoing Biden administration’s moves have drawn ire, with China’s commerce ministry saying Beijing was “strongly dissatisfied and firmly opposed” to them.The ministry vowed in a statement Wednesday that China would take measures to safeguard its interests.With the new rules, foundries and packaging companies that want to export certain advanced chips face broader license requirements unless they meet several conditions.The rules also aim to enhance reporting for transactions involving newer customers “who may pose a heightened risk of diversion,” said the US commerce department.- Blacklist -The department on Wednesday placed 25 China-based entities, alongside two Singapore ones, on a trade blacklist as well.Companies added to the so-called Entity List are restricted from obtaining US items and technologies without a license.Among those impacted was Sophgo Technologies, which was said to have been involved in Huawei accessing chips from Taiwanese chip giant TSMC.Some of the Entity List additions were made because the businesses helped advance China’s military modernization through the development of AI research, a government posting said.Others were accused of aiding the development of advanced computing integrated circuits that further China’s progress in weapons systems, or posing a risk of diversion to Huawei — which has itself been blacklisted.Such activities, according to the postings, were contrary to US national security and foreign policy interests.Apart from chip export controls, Washington finalized a rule this week effectively barring Chinese technology from cars in the American market.The announcement took aim at software and hardware from the world’s second-largest economy over national security risks.US officials are also mulling new restrictions to address risks posed by drones containing tech from adversaries like China and Russia.Beijing said Wednesday that the Biden administration’s measures have “seriously infringed upon” Chinese companies’ rights and interests.But the rollout of many plans will fall to US President-elect Donald Trump, who returns to the White House next week.

TikTok faces an imminent shutdown in the United States after Congress passed a law last year forcing its Chinese owner ByteDance to either sell the platform or close it on Sunday.The US Supreme Court is expected to rule this week on TikTok’s challenge to the law.Following a hearing last Friday, expectations are high that the law will stand. Here is a review of what could happen next for TikTok in the United States.- App store ban -To execute a ban, the US government would direct Apple and Google to remove TikTok from their app stores, preventing new downloads on January 19, a day before President-elect Donald Trump takes office.In that scenario, the app could remain on the phones of the existing 170 million US users unless TikTok directly blocks their access. But TikTok lawyer Noel Francisco stated the site would “go dark” on Sunday if the justices fail to block the ban, and a media report said the company was planning a full suspension of service in the US.According to The Information, users attempting to open the app after the deadline will encounter a message redirecting them to a statement about the federally mandated ban, along with options to download their personal data.In an internal email obtained by The Verge on Tuesday, TikTok assured its US employees that their “employment, pay, and benefits are secure” and offices will remain open even if the situation remains unresolved by Sunday’s deadline.- Workarounds -Even if TikTok keeps its app accessible, US users would stop receiving security and software updates, leading to gradual deterioration in quality and increased vulnerabilities.As a workaround, users might turn to VPNs (virtual private networks) to mask their location by routing through countries where TikTok remains available.Another possibility is that TikTok could update from non-US servers through partnerships with foreign, non-Chinese companies — though this would constitute direct defiance of US authorities and likely intensify scrutiny of ByteDance’s US operations.- Defiance? -Once Trump takes office, the law’s implementation will fall to his attorney general, who could choose not to enforce it, or stall, defying Congress’s overwhelming support for the legislation.The Trump administration might also approach the Republican majority in Congress to modify the law, potentially giving ByteDance more time to find a buyer or devise alternative solutions.- Alternatives -Once banned, the assumption is that TikTok users will move to other apps, like Instagram Reels and YouTube shorts, TikTok copycats that have grown and will directly benefit from their rival’s demise. Elon Musk’s X could also benefit and the tycoon has made it known that he wants his platform, formerly Twitter, to more closely resemble TikTok, with video content and shopping features.Trump has expressed concern that a ban would primarily be to the advantage of Meta-owned Instagram, which may explain Mark Zuckerberg’s recent public support for Trump.Some American content creators have already migrated to Xiaohongshu (Red Note), another Chinese social media app that recently topped the Apple App Store downloads.- Investor rescue? -Several potential buyers have emerged, including a group led by Frank McCourt, former owner of the Los Angeles Dodgers, even if ByteDance has ruled out a sale for now.His partner in the bid, Canadian businessman Kevin O’Leary, recently golfed with Trump and reported the president-elect’s desire to use the TikTok saga as leverage in US-China relations.A report that the Chinese authorities would be open to a buyout by Musk was denied by TikTok.Former Activision Blizzard CEO Bobby Kotick also remains interested in buying TikTok, according to the Information.For now, TikTok’s fate rests with the Supreme Court, with the company lawyers asking the nine justices for a delay to any ban to provide “breathing space” for a solution.”Nobody knows what they can do and who’s going to do it until they hear from the Supreme Court,” Trump told Newsmax on Monday.

Social media giant TikTok plans to completely shut down its operations in the United States this Sunday if a ban ordered by legislators goes through as planned, a report said.The platform, which counts over 170 million American users, will implement an immediate blackout rather than allowing existing users continued access as had been expected, according to sources who spoke to The Information.The apparent shutdown comes as TikTok faces a January 19 legislative deadline to sever ties with its Chinese parent company ByteDance or cease US operations. While the law only requires app stores to remove TikTok and cloud providers to stop hosting US user data, the company will opt for a full suspension of service, The Information said.Users attempting to open the app after the deadline will encounter a message redirecting them to a statement about the federally mandated ban, along with options to download their personal data, the report said.TikTok’s reported plan would follow skeptical questioning from Supreme Court justices during oral arguments last Friday, suggesting they would uphold the ban. The company has challenged the law on First Amendment grounds, which protect freedom of speech.The shutdown would coincide with the US presidential transition, as Donald Trump, who has expressed opposition to the ban, takes office Monday. ByteDance has so far refused to sell TikTok’s US operations, though analysts say this position could shift as the reality of a forced market exit looms.In an internal email obtained by The Verge on Tuesday, TikTok assured its US employees that their “employment, pay, and benefits are secure” and offices will remain open even if the situation remains unresolved by Sunday’s deadline. The company told staff it was “planning for various scenarios.”TikTok declined to comment when contacted by AFP.

European stock markets rose Wednesday as traders focused on inflation data in Britain and the United States.London led the way in Europe as official figures showed an unexpected dip to UK annual inflation, easing some pressure on the Labour government as it struggles with growing the economy.The pound steadied versus the dollar and euro, with analysts forecasting that the Bank of England would likely cut its key interest rate next month as the rate of price increases cools.Separate official data showed Europe’s biggest economy Germany contracted for a second straight year in 2024, with little hope of a strong recovery ahead of national elections next month.Market watchers are now awaiting the release of US consumer-price inflation data later in the day.A below-forecast read on US wholesale prices provided a little relief and helped the Dow and S&P 500 end higher Tuesday, though sentiment remains clouded by expectations that the Federal Reserve will not cut interest rates as much as hoped this year.After Wall Street’s broadly positive lead, Asian markets fluctuated Wednesday.”The S&P 500 is expected to trade flat at the open as investors wait on tenterhooks for the latest US inflation snapshot,” noted Susannah Streeter, head of money and markets at Hargreaves Lansdown.”If there’s a jump in the core rate of inflation in the US it could quash hopes of an interest-rate cut this year and could lead to fresh market jitters,” she added.In Asia, Tokyo’s stock market ended down, though games giant Nintendo piled on more than two percent and briefly hit a record high as traders anticipate it will soon release its much-anticipated Switch 2 console. The Nikkei 225’s drop also came as the yen strengthened, with traders weighing the chances of a rate hike by the Bank of Japan this month.Also in focus this week is the release of Chinese 2024 growth data, with expectations that it could come in below the previous year and be among the slowest in more than three decades.Leaders have unveiled a string of measures to reignite the economy, with a particular emphasis on consumers and the troubled property sector, though there are fears the return of President-elect Donald Trump could see another painful China-US trade war.Trump has warned he will impose tariffs of as much as 60 percent on imports from China, and observers say Beijing has likely kept its powder dry with regards stimulus as it prepares for the next four years.- Key figures around 1100 GMT -London – FTSE 100: UP 0.7 percent at 8,262.19 points Paris – CAC 40: UP 0.4 percent at 7,450.52Frankfurt – DAX: UP 0.7 percent at 20,414.20Tokyo – Nikkei 225: DOWN 0.1 percent at 38,444.58 (close)Hong Kong – Hang Seng Index: UP 0.3 percent at 19,286.07 (close)Shanghai – Composite: DOWN 0.4 percent at 3,227.12 (close)New York – Dow: UP 0.5 percent at 42,518.28 (close)Euro/dollar: UP at $1.0311 from $1.0310 on TuesdayPound/dollar: UP at $1.2228 from $1.2211Dollar/yen: DOWN at 156.78 yen from 157.98 yenEuro/pound: DOWN at 84.33 pence from 84.40 penceBrent North Sea Crude: FLAT at $79.93 per barrelWest Texas Intermediate: UP 0.2 percent at $76.50 per barrel

After travelling to Tokyo for meetings, Yoshiki Kojima’s IT company employees crash out in a capsule hotel, as a tourism boom makes regular rooms too pricey for business trips.A weak yen is attracting more visitors than ever to Japan, with national tourism figures released Wednesday showing a new record of an estimated 36.8 million arrivals last year.But that is also raising prices for Kojima’s staff and other Japanese business travellers.Capsule hotels, a Japanese institution, offer claustrophobic bed-sized pods, often double-stacked in rows.They have a “shabby” reputation, Kojima said, so he found a more comfortable establishment that boasts high-end mattresses and a TV in each capsule.”It’s clean, convenient and has a traditional shared bath house. My employees say it’s fun,” he told AFP.A night in a standard capsule there starts at 5,000 yen ($30) — but its rates are rising, according to Kojima.It is still cheaper than a basic private room at a business hotel, which in the Japanese capital cost 20,048 yen ($130) on average in November.That’s up from the pre-pandemic peak of 12,926 yen ($80 at today’s rates) in April 2019, shows research by Tokyo Hotel Kai, a group of around 200 hotels.”I’m happy there are so many visitors to Japan, but I’m agonising every day about finding a flexible way” to run the business, said Kojima, who needs to bring around 20 to 30 employees to the capital for company-wide meetings.- ‘What do I do?’ -The Japanese economy benefits from the surge in foreign tourists because it creates jobs and the visitors spend money, analyst Takuto Yasuda of NLI Research Institute said.”But it has a negative impact as well, such as Japanese people not being able to travel, or their daily lives being affected by overtourism,” he told AFP.Japan’s chronic labour shortages and an increase in hotel supply costs are also pushing up the fees, he added.Keisuke Morimoto, who runs a kimono shop in Japan’s western Nara region, was shocked when he learned a two-night stay at a Tokyo hotel would cost him 60,000 yen. “Seriously, what do I do for the hotel for my business trip?” he wrote X.Morimoto told AFP he is thinking of using short-term rental platform Airbnb, which has cheaper options.Some tourist spots are fighting back against overtourism, including the ancient capital of Kyoto, where residents have complained of visitors harassing the city’s famed geisha.Now Kyoto plans to hike its accommodation taxes, including by up to 10 times for top-end hotels, the mayor said Tuesday.- Concentrated demand -Japan wants to welcome 60 million visitors a year by 2030.This could mean even more expensive domestic business trips to Tokyo, Osaka and major cities, where demand for hotel bookings has spiked thanks to crowds of first-time visitors.The number of foreign visitors to Tokyo has doubled since 2019, and was up 1.5 times in Osaka, government data show.To even things out, the government wants tourists to visit lesser-known destinations, encouraging them to stay at least two nights in rural towns.Yasuda agrees that funnelling visitors elsewhere is key to easing pressure on city hotels.The occupancy rate in 2024 for business hotels in Tokyo run by major operator Fujita Kanko was 88 percent, and average rates were up 26 percent from last year, the company said.”Currently, demand is concentrated in major cities such as Tokyo and Osaka, so we are hoping that this will spread to Sapporo, Naha and other smaller regions,” the firm said.IT company boss Kojima may resort to drastic measures.”I’m thinking of moving our headquarters to Sapporo, or organising a meeting in a hot spring town near Tokyo,” he said.”There are many areas that aren’t flooded with tourists, and we can take advantage of that.”

Beijing on Wednesday said it “firmly opposes” a US move to effectively bar Chinese technology from smart cars in the American market, saying alleged risks to national security were “without any factual basis”.”Such actions disrupt economic and commercial cooperation between enterprises… and represent typical protectionism and economic coercion,” foreign ministry spokesman Guo Jiakun said, adding: “China firmly opposes this.”Tuesday’s announcement in the United States, which also pertains to Russian technology, came as outgoing President Joe Biden wrapped up efforts to step up curbs on China, and after a months-long regulatory process.The rule follows an announcement this month that Washington is mulling new restrictions to address risks posed by drones with tech from adversaries such as China and Russia.US Commerce Secretary Gina Raimondo said that modern vehicles contain cameras, microphones, GPS tracking and other technologies connected to the internet.”Cars today aren’t just steel on wheels — they’re computers,” she said.”This is a targeted approach to ensure we keep PRC and Russian-manufactured technologies off American roads,” she added, referring to the People’s Republic of China.But Guo slammed the move, telling journalists in Beijing that China would “take necessary measures” to safeguard its legitimate rights and interests.”What I want to say is that the US, citing so-called national security, has restricted the use of Chinese connected vehicle software, hardware, and entire vehicles in the United States without any factual basis,” he told a regular press conference.”China urges the US to stop the erroneous practice of overgeneralising national security and to stop its unreasonable suppression of Chinese companies.”- ‘Trying to dominate’ -The final US rule currently applies just to passenger vehicles under 10,001 pounds (about 4.5 tonnes), the Commerce Department said.It plans, however, to issue separate rulemaking aimed at tech in commercial vehicles like trucks and buses “in the near future”.For now, Chinese electric vehicle manufacturer BYD, for example, has a facility in California producing buses and other vehicles.National Economic Advisor Lael Brainard added that “China is trying to dominate the future of the auto industry”.But she said connected vehicles containing software and hardware systems linked to foreign rivals could result in misuse of sensitive data or interference.Under the latest rule, even if a passenger car were US-made, manufacturers with “a sufficient nexus” to China or Russia would not be allowed to sell such new vehicles incorporating hardware and software for external connectivity and autonomous driving.This prohibition on sales takes effect for model year 2027, and also bans the import of the hardware and software if they are linked to Beijing or Moscow.

Stock markets were mixed Wednesday as traders assess the economic outlook ahead of Donald Trump returning to the White House next week, with focus now on the release of key US inflation data.A below-forecast read on wholesale prices provided a little relief and helped the Dow and S&P 500 end in the green, though sentiment remains clouded by a resignation to the idea that the Federal Reserve will not cut interest rates as much as hoped this year.Blockbuster employment figures on Friday, which followed a better-than-expected read on job openings, reinforced the view that the world’s top economy and labour market were still in rude health.That came after the central bank in December indicated in its so-called “dot plot” that it would likely only cut rates twice in 2025, compared with four previously flagged — taking the wind out of the sails of a market rally at the end of the year.Investors will be poring over the consumer price index later Wednesday, with analysts warning that a strong reading could even stoke talk of a possible rate hike as the Fed’s next move.SWBC’s Christopher Brigati wrote in a commentary: “Even prior to the release of the dot plot in December, we’ve been cautious about the increasing possibility that the Fed would have to dial back further rate cuts in 2025, calling for no cuts during the year.”It appears that there is growing sentiment that the Fed will be less accommodating going forward. Furthermore, it is appearing increasingly likely that the Fed’s rate-cutting efforts beginning in September may have been premature, given more recent economic data.”After Wall Street’s broadly positive lead, Asian markets fluctuated.Tokyo slipped though games giant Nintendo piled on more than two percent and briefly hit a record high as traders anticipate it will soon release its much-anticipated Switch 2 console. The Nikkei 225’s drop also came as the yen strengthened, with traders weighing the chances of a rate hike by the Bank of Japan this month.Shanghai, Sydney, Seoul, Singapore and Taipei also fell, while Hong Kong, Wellington, Manila, Mumbai, Bangkok and Jakarta rose.London rose as data showed UK inflation eased last month, whille Paris and Frankfurt were also on the front foot.Also in focus this week is the release of Chinese 2024 growth data, with expectations that it could come in below the previous year and be among the slowest in more than three decades.Leaders have unveiled a string of measures to reignite the economy, with a particular emphasis on consumers and the troubled property sector, though there are fears the return of Trump could see another painful China-US trade war.The president-elect has already warned he will impose tariffs of as much as 60 percent on imports from the country, and observers say Beijing has likely kept its powder dry with regards stimulus as it prepares for the next four years.”China’s policy response will likely remain reactive but responsive in nature, to defend against any significant downside risks. The long-term economic transition to a more sustainable model of growth remains intact,” said Peiqian Liu, Asia economist at Fidelity International.”We expect more details on China’s strategic growth plans to be unveiled in its 15th Five Year Plan in 2025.”- Key figures around 0815 GMT -Tokyo – Nikkei 225: DOWN 0.1 percent at 38,444.58 (close)Hong Kong – Hang Seng Index: UP 0.3 percent at 19,286.07 (close)Shanghai – Composite: DOWN 0.4 percent at 3,227.12 (close)London – FTSE 100: UP 0.5 percent at 8,242.82Euro/dollar: DOWN at $1.0307 from $1.0310 on TuesdayPound/dollar: UP at $1.2233 from $1.2211Dollar/yen: DOWN at 156.89 yen from 157.98 yenEuro/pound: DOWN at 84.27 pence from 84.40 penceWest Texas Intermediate: UP 0.9 percent at $78.19 per barrelBrent North Sea Crude: UP 0.7 percent at $80.48 per barrelNew York – Dow: UP 0.5 percent at 42,518.28 (close)

One rocket, two missions: lunar landers built by US and Japanese companies launched their “rideshare” to the Moon on Wednesday, showcasing the private sector’s growing role in space exploration.On board the SpaceX Falcon 9 rocket that took off from the Kennedy Space Center in Florida were Firefly Aerospace’s Blue Ghost and ispace’s Resilience from Japan, which will also deploy a micro rover.Both uncrewed missions aim to build on the success of Texas-based Intuitive Machines, which last year became the first company to successfully touch down on Earth’s celestial neighbor.Until recently, soft landings on the Moon were achieved only by a handful of well-funded national space agencies, starting with the Soviet Union in 1966.Now, however, several emerging US companies are attempting to replicate this feat under NASA’s experimental Commercial Lunar Payload Services program, designed to cut costs and stimulate a lunar economy.The US plans to establish a sustained human presence on the Moon later this decade under the Artemis program, leveraging commercial partners to deliver critical hardware at a fraction of the cost of government-led missions.”Each milestone we complete will provide valuable data for future missions and ultimately keep the United States and our international partners at the forefront of space exploration,” Firefly Aerospace CEO Jason Kim said Tuesday.”Firefly is a go for launch. Let’s go ghost riders in the sky!”- Staying upright -On the Japanese side, Tokyo-based ispace’s first attempt to land on the Moon ended in an unsalvageable “hard landing” in April 2023.”It’s important to challenge ourselves again, after enduring failure and learning from it,” ispace founder and CEO Takeshi Hakamada said last week.”Today, we’re going back to the Moon,” a post on the ispace X account said Wednesday, adding in a promotional video: “Today, we prove our resilience”.Blue Ghost is stacked atop Resilience inside the Falcon 9, SpaceX executive Julianna Scheiman said, and will be deployed first, followed by Resilience nearly 30 minutes later.The two spacecraft have different timelines for reaching the Moon.Blue Ghost aims to complete its journey in 45 days, gradually lifting its orbit around Earth before entering lunar orbit and touching down near Mons Latreille, a volcanic feature in Mare Crisium on the Moon’s northeast near side.”With 10 NASA instruments on this flight, we’re conducting scientific investigations… from characterizing Earth’s magnetosphere to understanding lunar dust and the Moon’s interior structure and thermal properties,” NASA scientist Maria Banks said.Blue Ghost also carries technology demonstrations focused on navigation and computing in the Moon’s harsh radiation environment.- ‘Moonhouse’ art -Meanwhile, Resilience will take four to five months to reach its destination in Mare Frigoris, on the Moon’s far north.Its payloads include scientific instruments, but the centerpiece is Tenacious, a micro rover developed by ispace-Europe, a Luxembourg-based subsidiary. The four-wheeled robot features a high-definition camera and will attempt to scoop up regolith — the Moon’s loose surface material.It also carries on its front a small red “Moonhouse” created by Swedish artist Mikael Genberg.These ambitious goals hinge on achieving a successful soft landing — a task fraught with challenges.Spacecraft must navigate treacherous boulders and craters and, in the absence of an atmosphere to support parachutes, rely entirely on thrusters for a controlled descent.A final hurdle, as recent missions have shown, is remaining upright.When Intuitive Machines’ Odysseus landed in April 2024, it tipped over, limiting the investigations it could perform.Similarly, Japan’s SLIM lander, which touched down in March 2024, landed at a wonky angle, leaving its solar panels poorly positioned, similarly curtailing its operational lifespan.