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Politics

Elon Musk emerges as top funder for U.S. Republicans as SpaceX federal awards surge

Elon Musk has spent about $366 million on at least 40 U.S. midterm election contests, emerging as the largest individual donor, while SpaceX won $6.78 billion in federal government work over the same period. Filings show much of the spending flowed to Republican groups and America PAC. With Congress overseeing budgets and regulation, attention is focusing on how election outcomes could affect Musk-linked companies, contracts and probes.

Crypto

Bitcoin-backed loans let borrowers raise cash without selling, with rates of 5.8 to 14.18 percent

The market for loans backed by bitcoin, which lets holders borrow cash or stablecoins without selling, is recovering after the 2022 collapse and expanding into mainstream finance. Centralised crypto lending has more than tripled from its late-2023 low, while risks from collateral liquidations and asset management remain key variables. Loan terms hinge on loan-to-value ratios and collateral custody structures. Posted interest rates range from 5.8 percent to 14.18 percent, with additional fees and technical risks to consider.

Telecommunications & Media

KT management and union reach pay deal with 3 percent base pay rise and 3 million won lump sum

KT management and its unions have reached a wage and collective bargaining deal after union members approved a tentative agreement. The package includes an average 3 percent rise in base pay and a 3 million won lump-sum payment, with retroactive application from Jan. 1 and payment due on Oct. 23. The deal also changes personnel evaluation grade shares and expands welfare support, including monthly pension-savings contributions and higher medical expense limits.