WORLD
Fed to give fresh clues on path of interest-rate cuts
The Federal Open Market Committee is poised to keep rates in a range of 5.25% to 5.5% at its two-day policy meeting, a two-decade high first reached in July.
WORLD
Sam Bankman-Fried says 50-year sentence only suitable for a ‘super villain’
Prosecutors have argued that a sentence ranging from 40 to 50 years is necessary for the FTX co-founder’s “historic” crime involving more than 1 million victims and losses of more than $10 billion in the collapse of his crypto empire.
BUSINESS
Microsoft hires DeepMind co-founder Suleyman to run Consumer AI
Suleyman will oversee a range of projects, such as integrating an AI Copilot into Windows and adding conversational elements to the Bing search engine.
BUSINESS
Amazon bets big on India with 70 new titles amid global cutbacks
The American streaming behemoth, which has been cutting back operations globally, continues to double down in the nation with more than 1.4 billion consumers and one of the fastest-growing entertainment markets
BUSINESS
Calpers raises bets on private equity, credit bets in $34 billion shift away from stocks
Based on current values, that works out to about $34 billion aimed for private equity and credit, while Calpers plans to pare its exposure to publicly traded stocks and bonds.
BUSINESS
India buying more US oil as sanctions stifle Russian flows
State-owned Bharat Petroleum Corp. and Indian Oil Corp., along with top private refiner Reliance Industries Ltd., have purchased about 7 million barrels of April-loading US crude so far this month, said traders who asked not to be identified.
WORLD
YOLO crowd bets Nvidia could more than double in value by Friday
Just look at the options activity on Monday, when traders bet that shares of the $2.2 trillion chipmaker will more than double its $885 price — by the weekend.
WORLD
Nvidia unveils successor to its all-conquering AI processor
A new processor design called Blackwell is multiple times faster at handling the models that underpin AI, the company said at its GTC conference in San Jose, California. That includes the process of developing the technology — a stage known as training – and the running of it, which is called inference.
WORLD
Donald Trump rules out Vivek Ramaswamy as running mate as he eyes new team
Trump personally told Ramaswamy he won’t be his vice presidential pick, according to people briefed on the discussion, but is considering him for posts including Homeland Security secretary.
BUSINESS
Adani says report on bribery probe by US prosecutors is false
Several of Adani Group’s dollar bonds fell the most in more than a year when markets reopened on March 18, and most of the group’s shares declined
TECHNOLOGY
Nvidia backs Yotta Data Service in India’s biggest AI bet yet
The company’s products are so coveted because they’re essential for the development of artificial intelligence, the technology that’s set off a frenzy in industries around the world.
COMPANIES
Carlyle nears advanced talks on €1.5 billion Thyssen unit
Thyssenkrupp’s Marine Systems business makes submarines, surface vessels and naval electronics.
COMPANIES
Alibaba puts new leader in charge of Freshippo with IPO in limbo
The decision, first reported by the Late Post, is the latest in a series of changes at Alibaba after missteps and regulatory scrutiny eroded its position against rivals like PDD Holdings Inc. and ByteDance Ltd.
BUSINESS
India can’t match China’s past 8-10% growth, Morgan Stanley says
India’s economy will likely grow steadily at 6.5%-7% over the long term, Chetan Ahya said in interview Monday with Bloomberg Television’s Haslinda Amin. The South Asian nation is also far from replacing its bigger rival as a global manufacturing hub, he added.
BUSINESS
ANZ CEO looks for India, China growth as focus shifts
Most of the Australian bank’s business across Asia Pacific is through its institutional bank, and the international return-on-equity has grown to mid-teens, up from around 3% when Elliott became CEO more than eight years ago, he said. In mainland China, where ANZ has about 300 people, he expects the business to keep growing.
WORLD
World’s top solar firm Longi plans thousands of job cuts on glut
Longi plans to trim as much as 30% of its staff that last year totaled about 80,000 people at its peak, several people familiar with the situation, including some briefed by senior management, told Bloomberg. The people asked not to be identified because the plans aren’t public.
BUSINESS
BAT starts $2 billion buyback following its ITC stake sale
The maker of Lucky Strike cigarettes, Vuse vapes and Velo nicotine pouches said Monday that net proceeds of the ITC stake sale totaled £1.57 billion and that it will buy back as much as £1.6 billion of its own shares this year and next.
WORLD
Two airplanes lugging cargo together is Texas startup’s big bet
On an abandoned Air Force field near Lubbock peppered with prairie-dog holes, the startup Aerolane is testing a business plan to pull cargo gliders with small freighter planes.
WORLD
Antony Blinken warns of false info ‘flood’ as elections loom worldwide
“Nearly half the people of the world are going to be going to the polls this year – this is an extraordinary election year in country after country,” Blinken told a session at the Summit for Democracy conference in Seoul on Monday.
WORLD
Vladimir Putin vows Russia cannot be held back in victory speech
All of the 71-year-old's major opponents are dead, in prison or exiled, and he has overseen an unrelenting crackdown on anybody who publicly opposes his rule or his military offensive in Ukraine.
WORLD
Saudi wealth fund said in talks to acquire national airline
The Public Investment Fund is considering a deal that would see it add the 80-year old Saudia to its growing portfolio of aviation assets as soon as next year, according to people familiar with the matter, who asked not to be identified as the information is private.
BUSINESS
Adani bonds, shares decline as US expands probe into the group
A note from unit Adani Ports & Special Economic Zone Ltd. due in 2041 slid 2.4 cents, the most since August, to 79.1 cents. Another bond from subsidiary Adani Renewable Energy RJ Ltd. due 2039 fell 2.3 cents to 83 cents, the worst drop since February 2023.
WORLD
Fed, BoJ to lead a week of rate decisions for half the world
The coming week features the world’s biggest agglomeration of decisions for 2024 to date, including judgments on the cost of borrowing for six of the 10 most-traded currencies.
WORLD
Decoding Xi’s Jinping new catchphrase aimed at reviving China’s economy
Since 2014, there’s only been one other occasion where an industrial policy slogan has taken top billing. Typically, that slot has gone to pledges about macroeconomic policy.
