WORLD
UBS weighs Credit Suisse China stake swap with Beijing government
The Zurich-based lender is proposing to buy the 33% stake held by Beijing State-Owned Assets Management Co. in their joint venture UBS Securities Co., the people said, asking not to be identified discussing a private matter.
WORLD
Janet Yellen threatens sanctions for China banks that aid Russia war
The Biden administration is trying to crack down on firms worldwide that help Russia evade the net of sanctions that the US and its allies have imposed on Moscow since its invasion of Ukraine in 2022.
BUSINESS
Hottest Indian stock index also has the best earnings potential
The gauge has seen its forward profit estimates climb 20% so far this year, far outpacing the 3.5% increase for the larger gauge.
SCIENCE
Eclipse will darken solar panels and cut off power supplies to the grid
The eclipse will briefly darken a long swath of North America, from northern Mexico to New England and the Canadian Maritime provinces
BUSINESS
AstraZeneca, Daiichi drug gets broad tumor approval in US
The US Food and Drug Administration cleared the medicine for patients who have HER2-positive solid tumors that have spread or can’t be removed with surgery, the company said. These patients have already received prior treatment and don’t have any good alternatives.
WORLD
Wall Street searches for AI winners across emerging markets
At a time when the global euphoria about AI has propelled a three-fold surge in Nvidia Corp. and a 50% jump in a key US index for semiconductor manufacturers in less than a year, investors are pointing toward emerging markets for better value and a bigger pool of options.
WORLD
Turkey meets four-day work week with Aksa’s landmark decision
Aksa Akrilik Kimya Sanayii AS tested the shorter work week in an effort to boost operational efficiency and promote work-life balance.
BUSINESS
HSBC helps funds navigate India’s bond market as inclusion nears
The bank is among custodians helping global investors with registration and other formalities as they gear up for the nation’s sovereign debt to be added to JPMorgan Chase & Co.’s emerging-market gauge from June.
BUSINESS
Biocon leads India push into weight loss drugs as patents lapse
The Bengaluru-based firm has scored an early win among its peers with the UK approval for the first generic version of liraglutide injectible, which is losing patent protection in November.
BUSINESS
The Gold market hunts for answers behind bullion’s sudden surge
Analysts are armed with better market data than they’ve ever had before, and yet the cumulative answer is frustratingly vague: It’s everyone all at once, and no one in particular.
BUSINESS
India seeks $100 billion a year in FDI as it woos China hedgers
The ambitious target compares with an annual average of more than $70 billion in FDI in the five years through March 2023 and would be a reversal in trend after last year’s decline. Singh said that the figure for the current fiscal year will be “closer to” the $100 billion target.
WORLD
Thailand leads push for six-nation visa to lure moneyed tourists
The facility is meant to ensure seamless mobility for travelers among the six neighboring countries.
BUSINESS
Vishal Mega Mart said to pick Kotak, ICICI for mega IPO
Vishal Mega Mart chose Kotak Mahindra Bank Ltd. and ICICI Bank Ltd to help arrange a share sale as early as in the fourth quarter of this year, the people said, asking not to be identified because the deliberations are private.
BUSINESS
Mark Zuckerberg’s wealth exceeds Elon Musk’s for the first time since 2020
Elon Musk, who ranked first on the Bloomberg Billionaires Index as recently as early March, fell to fourth after Reuters reported Tesla Inc. had canceled plans for a less-expensive car, sending shares lower
INDIA
India’s hot summer creates winners in its pricey stock market
The coming months will also see hundreds of millions of voters attend campaign rallies and head to the polls in a parliamentary election that lasts for weeks starting mid-April.
WORLD
Saudi Arabia hikes key oil prices Further as market tightens
State-owned Saudi Aramco raised the official selling price of Arab Light crude for Asia to a premium of $2 a barrel to the regional benchmark for May sales, according to a price list seen by Bloomberg.
WORLD
The Sheikh who dominates one of the world’s hottest stock markets
Royal family member Sheikh Tahnoon bin Zayed Al Nahyan—one of Abu Dhabi’s two deputy rulers, national security adviser of the UAE and brother to its president—dominates just about every part of its business.
BUSINESS
Tesla heavily discounts cars piling up in its inventory
The automaker offers consumers two ways to buy new vehicles online: to place custom orders, selecting the vehicle type, paint color, wheels and other options, or to peruse pages where Tesla lists the cars it has in inventory.
WORLD
Apple cut at least 600 workers when car, screen projects stopped
The Cupertino, California-based company filed eight separate reports to the state to comply with the Worker Adjustment and Retraining Notification, or WARN program. Companies must file a report to the state agency for each California address that includes employees affected by a layoff.
BUSINESS
India says up to Tesla to lay down EV plant investment plans
BUSINESS
Ray Dalio defends his decades-long investment in China
Ray Dalio said China’s problems are manageable now if 'Chinese leaders do their job well by being both smart and courageous'
WORLD
Elon Musk says he’s boosting Tesla pay to stop OpenAI from poaching
Elon Musk was responding to an Information report about Tesla AI scientist Ethan Knight leaving the car company to join Musk’s xAI startup. “Ethan was going to join OpenAI, so it was either xAI or them,” Musk said.
WORLD
Ex-BofA veteran Omar Davis handling Vedanta group overhaul steps down: Report
The group had clinched a deal with creditors in January to extend the maturities of three dollar bonds.
WORLD
Saudi Crown Prince MBS’ $100 billion foreign investment quest falters
The first electric cars assembled in Saudi Arabia with Lucid Group Inc. twinkled under factory spotlights, designed to show the world how a kingdom built on oil could draw in foreign capital to become a global hub for the industries of the future.
