BUSINESS
Analysts racing to catch up with world’s top delivery stock Zomato
Price target upgrades for Zomato in the past 12 months exceed those for all other stocks in a Bloomberg Intelligence gauge of global ride sharing and delivery peers.
BUSINESS
‘Expensive’ India lures investors avoiding China risks
The powerful rallies in Indian and Japanese equities as China’s market has slumped have reset Asia’s financial-market landscape, providing global investors with three competing poles for regional allocations.
WORLD
Apple’s iPhone shipments plunge 10% as android rivals rise
The global mobile market rose to 289.4 million handsets shipped, marking a 7.8% rise from a year ago. Samsung Electronics Co. regained the top spot. Budget-focused brand Transsion jumped 85% in shipments, while Xiaomi Corp. bounced back to close the gap on second-place Apple.
BUSINESS
Bitcoin slump on Iran attack flashes warning for global markets
Iran launched attack drones and missiles against Israel in apparent retaliation for a strike in Syria that killed top Iranian military officers, taking the conflict in the region into a perilous new phase.
WORLD
Israelis go about their business as they await Iranian missiles
A similar issue existed 50 years ago, when Israel was certain that Egypt and Syria wouldn’t dare attack after their terrible loss in the 1967 war
COMPANIES-2
Macquarie, Canada Pension are among bidders on India road assets
NIIF is India’s first major attempt to develop a capital-raising structure on home soil, to tackle a shortfall in infrastructure spending
WORLD
Israel bracing for potential direct attack from Iran in days
A Iranian missile and drone barrage would represent a retaliation for a deadly attack on its diplomatic compound in Syria last week, which the Islamic Republic blames on Israel
BUSINESS
Tamil Nadu looks to pull out all stops to attract Tesla CEO Elon Musk
India also cut the import duty on EVs last month and said to get tax concessions, foreign companies will have to invest at least ($500 million) and start producing EVs from a local plant within three years
BUSINESS
Picky consumers jilting big brands are Unilever India’s new risk
The Indian unit of Unilever Plc is battling a slowing rate of growth in revenue and profits while its share price is lagging.
TECHNOLOGY
Elon Musk’s xAI seeks up to $4 billion to compete with OpenAI
The deal, circulated among investors, highlights Musk's track record at Tesla and SpaceX, with access to data from his social network X as a selling point.
BUSINESS
Apple plans to overhaul entire Mac line with AI-focused M4 chips
Mac sales fell by 27% in the last fiscal, after peaking in 2022. Despite Apple's efforts to boost sales with M3 chips, there were no significant performance improvements over the M2 chips from the previous year.
TECHNOLOGY
Big Tech’s ‘Interconnected Web’ of AI investments concerns UK’s CMA
The Competition and Markets Authority said Thursday it’s uncovered an “interconnected web” of partnerships and investments within AI involving a handful of the same tech firms, that may allow them “to shape these markets in their own interests.” Meta Platforms Inc., Amazon.com Inc. and Nvidia Corp. were also named.
TECHNOLOGY
Apple plans to overhaul entire Mac Line with AI-focused M4 Chips
The new chip will come in at least three main varieties, and Apple is looking to update every Mac model with it, said the people, who asked not to be identified because the plans haven’t been announced.
BUSINESS
McKinsey starts hundreds of job cuts as client demand slows
The reductions are global and will affect employees across a variety of divisions including design, data engineering, cloud and software, according to people familiar with the matter
BUSINESS
Fed favours reducing monthly asset runoff pace by roughly half
The record of the March 19-20 FOMC meeting also showed “almost all” officials judged it would be appropriate to begin lowering borrowing costs “at some point” this year. However, inflation data since then has upended expectations for three interest-rate cuts this year.
SPACE
US, Japan to announce plans to send Japanese astronaut to Moon
The pledge, which is expected to be announced during Prime Minister Fumio Kishida’s visit to Washington to meet with President Joe Biden, is meant to signal more robust economic and defense ties between the two nations.
BUSINESS
BMW EV sales surge even as rivals struggle with weak demand
Customer deliveries of battery-powered models such as BMW’s i4, iX1 and i7 jumped 41% in the three months through March compared to the same period last year, the company said Wednesday. The results helped group EV sales rise by 28%.
BUSINESS
Bain-Backed Adani Capital hires Rakesh Das as chief credit officer
Rakesh Das, who joined last week, will oversee the non-bank financial company’s credit practices, said the people, asking to be unnamed because they aren’t authorized to speak publicly about it.
BUSINESS
Air India dealt blow as aircraft technicians plan strike
The unrest among aviation workers risks thwarting India’s air travel boom. Pilots and aircraft engineers are crucial to support the country’s rapid fleet expansion after IndiGo, Air India and Akasa placed orders for more than 1,100 aircraft combined.
BUSINESS
India wants to be the world’s next growth driver
Today on the show, Bloomberg’s New Delhi-based economics and politics reporter Dan Strumpf joins host Sarah Holder to discuss India’s roadmap, and what its success could mean for the rest of the world.
TECHNOLOGY
Intel unveils new AI accelerator in bid to challenge Nvidia
The updated processor, called Gaudi 3, is designed to boost performance in helping train AI systems and running the finished software
TECHNOLOGY
Google unveils AI updates for cloud computing customers
At the company’s annual cloud computing conference in Las Vegas on Tuesday, Cloud Chief Executive Officer Thomas Kurian showed off how Google’s most powerful AI model, Gemini, can be used to create advertisements, ward off cybersecurity threats and spin up short videos and podcasts.
INDIA
Govt may devote more sugar to ethanol in blow to export hopes
The government is considering a proposal to permit factories to use an additional 800,000 tons of sugar for biofuel this year, as the crop is likely to be higher than predicted, said the person, who asked not to be identified as the talks are confidential.
INDIA
India predicts searing heat in threat to lives, power supply
Coal’s share in power output rose to 77% in the first week of April, about two percentage points higher than a year earlier, according to data from the Grid Controller of India Ltd., making up for shortfalls in hydropower output.
