BUSINESS
Troubled crypto exchange Zipmex says it’s mulling possible offer
Asian cryptocurrency exchange Zipmex said it is in talks with interested parties and was considering a possible offer.
ENVIRONMENT
The hotel industry’s carbon lie
To date, few hotels that have made net-zero statements have released data supporting those claims.
TRENDS
Want to become a digital nomad? Try before you buy
More and more people want to work anywhere but the office. But getting beach sand in your laptop is not the only risk of untethering from the mothership.
BUSINESS
Tata says Port Talbot may close without £1.5 billion from government
Indian steel giant Tata Steel Ltd. may close sites including Port Talbot unless it receives £1.5 billion ($1.8 billion) in support from the UK government, the Financial Times reported.
BUSINESS
Sunil Mittal backed OneWeb said to near merger with Eutelsat
British satellite firm OneWeb is nearing a deal to combine with France’s Eutelsat Communications SA in a transaction that would create a pan-European operator that could better compete with Elon Musk’s Starlink project, according to people familiar with the matter.
WORLD
The Newest Hero in the Marvel Universe Is a Chef With a Food Truck
Marvel heroes wear capes. Now they also wear aprons.
BUSINESS
China Evergrande CEO, finance chief resign amid probe
Evergrande had been investigating how 13.4 billion yuan ($1.99 billion) of its deposits were used as security for pledge guarantees and seized by banks.
BUSINESS
Liz Truss vs Rishi Sunak: Where UK leadership contenders stand on economy
Liz Truss and Rishi Sunak, the final contenders in the race to lead the ruling Conservative Party and the nation, have sharply divergent views on how to handle the economy and public finances.
BUSINESS
China’s top chipmaker achieves breakthrough despite US curbs
The Shanghai-based manufacturer is shipping Bitcoin-mining semiconductors built using 7-nanometer technology, industry watcher TechInsights wrote in a blog post on Tuesday.
BUSINESS
A 79-year-old tech pioneer Ashok Soota aims for his third startup IPO
When Soota turns 80 in November, Happiest Health will be a rare Indian technology startup with an octogenarian founder. He is basing the startup on his holistic view on health and wellbeing, while drawing inspiration from Berkshire Hathaway Inc.’s Warren Buffett and Charlie Munger -- who are plowing ahead in their nineties.
BUSINESS
Elon Musk lieutenant scrutinized in internal Tesla purchasing probe
Tesla has already fired some employees in relation to the probe, and the electric-vehicle maker plans to part ways with Afshar, likely through a leave of absence initially, the people said, asking not to be identified discussing private information. Terms of his exit are still being worked out.
COMMODITIES
Oil set for longest run of declines this year in boost for Biden
Central banks including the Federal Reserve - which meets next week to set policy -have been raising interest rates to quell inflation, triggering concerns of a slowdown that’ll sap commodity demand
WORLD
Mario Draghi Saved the Euro, But Italian Politics Beat Him
The premier resigned Thursday after three coalition allies withdrew their support for his government, shattering the unity which had propelled him into office in February 2021.
BUSINESS
Rishi Sunak Sees No UK Income Tax Cuts Before Fall 2023
The former Chancellor of the Exchequer has said repeatedly during the leadership campaign that he would not cut personal taxes until inflation is under control. Sunak’s conclusion -- based on Treasury analysis -- is that that won’t happen on a consistent basis until the middle of next year, according to a person who spoke on condition of anonymity.
WORLD
The mobile phone is Asia’s hedge against the dollar
Southeast Asia’s biggest economies are getting interoperable with their currencies thanks to technology. It’s a small but important step in de-dollarization.
WORLD
Britain is burning up, India has some tips
In a hotter world, Britons will have to learn to live more like the denizens of their former tropical empire.
BUSINESS
India's economic recovery falters as high prices start to bite
The Reserve Bank of India raised rates by 90 basis points in two moves to temper price gains and is scheduled to hold its next review from August 2-4.
BUSINESS
Next pain point for the rupee is $79 billion of unhedged debt
According to RBI data, the nation’s firms had $79 billion of unhedged offshore loans at the end of March, about 44 per cent of their total overseas borrowings.
COMMODITIES
Oil drops below $100 as traders assess weak US gasoline demand
After rallying for most of the first half following Russia’s invasion of Ukraine, oil prices have been dragged lower in recent weeks by fears of recession and central bank tightening
BUSINESS
Henry Kissinger warns Joe Biden against endless confrontation with China
While warning that China shouldn’t become a global hegemon, the man who helped reestablish US-China ties in the 1970s said that President Joe Biden should be wary of letting domestic politics interfere with “the importance of understanding the permanence of China.”
BUSINESS
PM Modi’s plastic straw ban leaves Indian consumers thirsty
Plastic straws are attached to many of the ubiquitous Tetra Paks of juices and other beverages sold in the country.
WORLD
Senate moves forward with $52 billion in semiconductor funding
The 64-34 procedural vote on Tuesday night met the criteria set by Senate Majority Leader Chuck Schumer to add research and development initiatives circulated by Republican Todd Young and Democrat Kyrsten Sinema to the legislation, which could be passed by the Senate next week.
BUSINESS
UK finance directors brace for recession and higher inflation
The consulting firm’s quarterly survey of executives at leading companies found respondents think there’s a 63% chance of recession in the next year.
BUSINESS
Mike Novogratz says he was ‘darn wrong’ on risks of crypto leverage
“It turned into a full-fledged credit crisis with complete liquidation and huge damage on confidence in the space.” he said.
