WORLD
Xi Jinping tells politburo China needs financial regulations with teeth
Xi told the 24-member decision-making body that the new rules will strengthen the Communist Party’s leadership in the financial sector, according to the official Xinhua News Agency.
BUSINESS
Indian bonds best Asia bet for JPMorgan asset before inclusion
The firm added bonds in April when the yield on the benchmark 10-year bond rose above 7.15%, Julio Callegari, chief investment officer of Asia fixed income, said in an interview. It took some profits off Chinese government notes in the month, he added.
BUSINESS
Reliance Industries' Mukesh Ambani sets sights on Africa with telecom venture
NGIC, which is planning to begin operations by the end of this year, will provide 5G broadband services to mobile operators and internet services providers in Ghana.
WORLD
India, Indonesia stand out for EM investors in aging world
The investors are focusing on the two nations in emerging Asia, thanks in part to an expected boom in infrastructure spending, which in turn bodes well for the countries’ economies.
INDIA
India’s scorching summer brings earnings boost for these stocks
Varun Beverages Ltd. and Havells India Ltd. are among eight producers of aerated drinks, power generators and appliances such as refrigerators and fans that have seen an average increase of 6.3% in their 12-month ahead earnings per share estimate since early April, data compiled by Bloomberg showed.
WORLD
Biden to end tariff exclusions on hundreds of Chinese products
The US will allow tariff exclusions to expire on about half of 400 products that had been spared, USTR said on Friday.
TECHNOLOGY
Community notes could come to news and other platforms: CEO of X says
Since buying the site in 2022, owner Elon Musk has pushed the tool as a bulwark against misinformation - and occasionally as a viable alternative to mainstream journalism
BUSINESS
Rupee gains by most in 5 months on stocks, RBI dividend
Rising foreign-exchange reserves are also supporting the rupee. India’s dollar stockpile rose to a record-high $648.7 billion as of May 17, according to data released Friday.
BUSINESS
India’s index-eligible bonds set for best performance in a year
The so-called Fully Accessible Route notes, which have no restrictions for foreigners, returned 1.3% in May so far, according to a Bloomberg index. If that result holds, it would be the best monthly performance since April 2023.
INDIA
Rotten bananas in a scorching India expose climate's food cost
India wastes nearly 80 million tons of food at the retail and consumer level, second only to China. As climate changes exacerbates extreme heat, the numbers are likely to worsen in South Asia, one of the most vulnerable regions to rising temperatures.
BUSINESS
Musk’s xAI nears close of deal valuing startup at $24 billion
The company was slated to wrap up a roughly $6 billion financing earlier this month, but the final close still hasn’t happened in the deal, which has been in motion since last year.
WORLD
More than 100 dead in Papua New Guinea landslide: Report
The disaster occurred about 3 a.m. local time when the side of a mountain gave way, hitting Kaokalam Village in Enga Province, about 600 kilometers (370 miles) northwest of the capital, Port Moresby, the ABC said.
TRENDS
Six trends that will change the way you travel this summer
Globally, tourist visitor numbers look to finally return to pre-pandemic levels this year, according to recent research from the World Economic Forum.
BUSINESS
Adani Enterprises stock erases over $30-bn losses spurred by Hindenburg report
The stock clawed back losses of more than $30 billion that came after US-based Hindenburg Research alleged wide-ranging corporate malfeasance and share-price manipulation at the ports-to-power conglomerate in January 2023. The group has repeatedly denied those allegations.
WORLD
Singapore Air changes seatbelt rules after fatal turbulence
In-flight meal service will be halted when the seatbelt sign is switched on, in addition to the suspension of hot drinks, the airline said in a statement. Crew members will also return to their seats and strap themselves in.
COMPANIES
Tata Power seeks up to $1 bn loan for clean energy projects
India’s largest local currency loan so for this year was Assam Bio Refinery Pvt.’s deal of $365 million in February. If Tata Power’s planned borrowing finalizes with a size anywhere near $1 billion, it would take that title.
BUSINESS
Nvidia’s Huang is now richer than every member of Walmart’s founding family
Nvidia has been the primary beneficiary of the artificial intelligence boom with its so-called AI accelerator chips, sending its sales soaring and its market value above $2.5 trillion
BUSINESS
SpaceX weighs plan to sell shares at $200 billion valuation
SpaceX is discussing a tender offer — a transaction that enables employees and insiders like investors to sell shares — that may kick off in June, said some of the people, who asked not to be identified because the information is confidential.
BUSINESS
BuzzFeed shares soar as Vivek Ramaswamy takes stake
BuzzFeed, known for its online quizzes, lists of 'bests' and articles on pop culture, has struggled in recent years due to cutbacks in internet advertising
WORLD
US jobless claims post biggest back-to-back drop since September
Initial claims, before adjustment for seasonal influences, fell by about 5,700 to 192,000. California and Indiana saw the largest drops.
WORLD
Nvidia's forecast, data center revenue powers rally, 10-for-1 stock split declared
Second-quarter revenue will be about $28 billion, the company said Wednesday, topping the $26.8 billion predicted by analysts. Results in the fiscal first quarter, which ended April 28, also beat projections — lifted by growth in Nvidia’s data-center division.
WORLD
Fed minutes show officials rally around higher-for-longer rates
Minutes from the two-day Federal Open Market Committee gathering ending May 1 showed that, while participants assessed that policy was “well positioned,” various officials mentioned a willingness to tighten policy further if warranted.
BUSINESS
Nvidia clears the way for AI stocks to keep powering higher
Another estimate-thumping earnings report and forecast from the chipmaker sent its shares up more than 7% in postmarket trading, putting to rest lingering concerns that the spending spree on data-center gear over the past year might be due for a slowdown.
BUSINESS
Reliance’s new venture Tira bets on AI tools to push into sizzling Indian beauty market
Tira, which was launched by billionaire Mukesh Ambani’s conglomerate in April last year, also uses electronic vending machines in its stores to dispense free samples of skincare products, according to Tejas Kapadia, head of marketing of the year-old startup that has 12 stores across India and a website.
