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.
BUSINESS
US plans economic talks with Taiwan in latest challenge to China
The talks would focus on enhancing economic cooperation and supply-chain resiliency, falling short of a traditional free-trade agreement, according to the people.
BUSINESS
SoftBank-backed Oyo to shelve plans for IPO in 2022, sources say
The board of Oyo, formally known as Oravel Stays Ltd., talked through a change in the offering’s timing during multiple meetings last week and earlier this week after consulting with its bankers and investors.
BUSINESS
Moderna CEO Bancel says he’ll give most of his money away
Moderna Inc. Chief Executive Officer Stephane Bancel said he plans to donate the bulk of his family wealth, focusing his philanthropy on issues such as health care and ghobal food security.
TRENDS
Justin Timberlake sells the rights to his song catalog in $100 million deal
MARKETS
As hedge funds stumble, sorry is the hardest word
Stocks and crypto are crashing. Time for a mea culpa? It depends who you ask
BUSINESS
Currency slump, 132% inflation no cause for ‘panic’ in Zimbabwe
“We are instituting measures that every other country in the world is instituting,” Ncube said in an interview with Bloomberg Television’s Manus Cranny and Yousef Gamal El-Din from Davos on Thursday. “We are not in panic mode.”
BUSINESS
Andreessen Horowitz raises $4.5 billion Crypto fund, the largest of its kind
The firm is dedicating $3 billion to venture investments and $1.5 billion to seed investments.
BUSINESS
The trouble with Lithium
Demand has outstripped supply, pushing prices up almost 500% in a year and hindering the world’s most successful effort yet to halt global warming.
BUSINESS
Fed saw aggressive hikes providing flexibility later this year
While highlighting the “strong commitment and determination” of all policy makers to restore price stability, the minutes of the May 3-4 meeting, released Wednesday, showed officials attentive to financial conditions as they prepare to raise rates further.
BUSINESS
Embattled payments startup Bolt is cutting one-third of staff
In a message to staff on Wednesday, Bolt Chief Executive Officer Maju Kuruvilla wrote that the company was making cuts as part of a broader restructuring.
BUSINESS
Elon Musk’s revised Twitter bid drops margin loan, requires more cash
Elon Musk will provide an additional $6.25 billion in equity financing for the $44 billion buyout, according to a regulatory filing Wednesday. That’s enough to eliminate the margin loan of the same size, which had already been reduced earlier this month.
WORLD
Zimbabwe’s inflation is back above 100% after currency plunge
Annual inflation quickened to 131.7% from 96.4% in April, ending a 10-month period in which the rate was below 100%.
COMPANIES-2
Etihad CEO Says India Sales Higher, Optimistic on China Rebound
Etihad Airways said bookings for its India flights are edging higher as the south Asian nation loosens coronavirus curbs, adding to a surge in demand led by the Gulf carrier’s destinations in Europe and North America.
BUSINESS
Bill Ackman doubles down on call for aggressive Fed rate hikes
The series of tweets came hours after Ackman warned that investors lacked confidence the Fed will get inflation under control and called for it to act aggressively.
BUSINESS
Soros warns ‘civilization may not survive’ Putin’s war
Soros has previously used the WEF stage to unleash blistering critiques. At the last meeting, in January 2020, he suggested without evidence that Facebook Inc. might be conspiring to help re-elect Donald Trump, who lost the US presidency later that year.
BUSINESS
Social media stocks sink to erase $135 billion on Snap warning
Shares in digital ad-dependent Snap tumbled 43%, their biggest intraday decline ever to trade below its 2017 initial public offering price of $17.
