BUSINESS
Majority of Indian airline passengers unhappy at lousy service
Some 79% of the 15,000 airline passengers surveyed by LocalCircles said they believe carriers in India are compromising on passenger comfort and cutting corners as a result of the pandemic, souring the reopening of what was prior to Covid the world’s fastest-growing aviation market.
BUSINESS
Tech-heavy stock markets see $63 billion of outflows in Asia
Overseas funds have sold about a net $63 billion worth of shares in Taiwan, South Korea and India so far this year, according to the latest available data compiled by Bloomberg. The tech sector’s weighting in the Taiex, Kospi and Sensex gauges is higher than that in the broader MSCI Asia Pacific Index.
BUSINESS
Shanghai unveils economic support measures as lockdowns ease
The financial hub will accelerate approvals for property projects and supply new residential developments, according to a plan issued by the Shanghai municipal government.
BUSINESS
Brent crude nears $120 as Shanghai eases curbs, EU leaders meet
Global benchmark Brent rose toward $120 a barrel after jumping more than 6% last week to post the highest close in two months. The commercial hub of Shanghai allowed all manufacturers to resume operations from June, while officials said Beijing’s coronavirus outbreak is under control.
BUSINESS
Goldman says Bull Market in battery metals is finished for now
“Investors are fully aware that battery metals will play a crucial role in the 21st century global economy,” Goldman analysts including Nicholas Snowdon and Aditi Rai said in a note on Sunday. “Yet despite this exponential demand profile, we see the battery metals bull market as over for now.”
BUSINESS
Wild five months leaves Wall Street split on when selloff ends
The selloff interrupted a two-year bull run in stocks that began in the depths of the Covid-19 pandemic.
BUSINESS
SoftBank executive Masayoshi Son pay slashed after historic vision fund loss
The company’s founder and Chief Executive Officer Masayoshi Son kept his pay unchanged at 100 million yen (roughly $785,000), however four of the top six executives whose salary was made public through a company filing on Monday saw their compensation drop following a record $20.5 billion loss.
BUSINESS
Carlyle seeks $8.5 billion for its biggest Asian buyout fund
Carlyle Group Inc. is seeking to raise $8.5 billion for its biggest-ever Asian buyout fund, people familiar with the matter said.
INDIA
Early arrival of monsoon rain in India brightens crop outlook
The monsoon arrived earlier than normal in India, raising hopes that output of crops like rice and oilseeds will get a boost after a brutal heat wave hit winter-sown wheat and prompted the nation to restrict exports.
WORLD
Seychelles Says the Rich World Is Failing on Climate
While states such as the Seychelles aren’t among the poorest, rising sea levels threaten to swamp the beaches they rely on for tourism dollars and, in cases such as the Maldives, flood the amount of land where people can live.
WORLD
Why One CIO Is Waiting for ‘a Solid Panic’ in the Stock Market
Victoria Greene, founding partner and chief investment officer at G Squared Private Wealth, talks about why she doesn’t think the selling is over, and her perspective on the outlook for oil and energy stocks.
BUSINESS
Charting the global economy: Export limits worsen food security
In the US, consumer spending held up well despite decades-high inflation, and showed more evidence that they’re dipping into their savings to support purchases.
BUSINESS
Battered DeFi investors put their hopes in Ethereum revamp
The Ethereum “Merge,” one of the most significant technical upgrades to the blockchain since its inception in 2015, may be one of the few catalysts that could give DeFi a much-needed lift.
BUSINESS
Crypto giant FTX ready with billions of dollars for acquisitions
Most recently, FTX has been making waves in traditional financial circles with a plan that could cut out brokerages from clearing some derivatives.
BUSINESS
Dell’s sales reveal strong office PC growth
The shares jumped 13% to USD 49.58 at the close Friday in New York, the largest single-day rally since March 2020.
TECHNOLOGY
Relativity’s 3D printed rocket on path for summer debut flight
It’s competing in a crowded market of rocket startups and more established aerospace companies such as Elon Musk’s Space Exploration Technologies Corp., Rocket Lab USA Inc., Virgin Orbit Holdings Inc., Astra Space Inc. and Jeff Bezos’s Blue Origin LLC.
WORLD
Tonnes of aviation jobs up for grabs as Singapore races to recruit
Singapore, which has flung open its borders again, is hosting a two-day job fair through May 28 targeting everyone from graduates to mid-career professionals and former aviation workers who quit during the Covid crisis.
BUSINESS
UK windfall tax: Dividend payers like Unilever, Voda Plc may be next
With the country facing a record squeeze on living standards, public perception of companies that are believed to be over-earning is putting pressure on the government to intervene.
BUSINESS
Didi is said to draw China FAW’s interest in buying stake
The Chinese carmaker has reached out to Didi’s top executives and expressed its interest in becoming a major shareholder in the firm, said the people, who asked not to be identified as the information is private. FAW pledged to help Didi resolve issues related to data security, paving the way for a Hong Kong listing, the people said.
BUSINESS
UK slaps 25% windfall tax on profits of oil and gas firms
The 25 percent levy on energy firms will raise about £5 billion ($6.3 billion) to finance one-off grants of £650 to more than 8 million of the poorest households in the UK, Chancellor of the Exchequer Rishi Sunak said in the House of Commons on Thursday. Sunak did not rule out applying a similar levy to power generators, but said more work needs to be done on the idea.
BUSINESS
India’s export curbs spark concern rice may be next
A similar move on rice by the No. 1 exporter at a time when crops like wheat and corn are soaring would threaten to plunge millions more into hunger and boost inflation risks.
BUSINESS
Bitcoin options show investors becoming anxious about declines
The put-to-call ratio on the coin hit a 12-month high at 0.72, meaning that many traders are loading up on hedges in the event it embarks on another leg lower and its losses deepen.
BUSINESS
Crypto scammers pose as Journalists, NFT projects on Twitter
As part of the alleged scam, thieves have masqueraded as members of the Bored Ape Yacht Club, a popular collection of NFTs, as well as the Azuki collection, the MoonBirds project and the Okay Bears NFT community, which has more than 150,000 Twitter followers, Narang found.
BUSINESS
S&P 500 believers see light forming in the market
After falling 15% this year, the S&P 500 is trading around 4,000. According to analysts tracked by Bloomberg, its members will earn a combined $248 a share next year.
