BUSINESS
Chips, shipping, fertilizer hint inflation may have peaked
A bellwether semiconductor price -- a barometer of costs of finished electronics products as diverse as laptops, dishwashers, LED bulbs, and medical devices delivered worldwide -- is now half its July 2018 peak and down 14% from the middle of last year.
BUSINESS
RBI’s rate hike is just a matter of how much: decision guide
The six-member Monetary Policy Committee will probably raise the benchmark interest rate by 40 basis points to 4.8% on Wednesday, according to the median in a Bloomberg survey of 37 economists.
BUSINESS
Property tycoons lose $65 billion after China curbs excesses
A Bloomberg Intelligence gauge of Chinese property stocks sank on Monday to a five-year low versus the Hang Seng China Enterprises Index.
BUSINESS
India in talks to increase Russian oil imports from Rosneft
State processors are collectively working on finalising and securing new six-month supply contracts for Russian crude to India, people with knowledge of the companies’ procurement plans told Bloomberg.
BUSINESS
Elliott seeks $456 million from LME over Nickel chaos
The suit was filed by two Elliott vehicles against the LME and its clearing house in the English High Court on June 1, according to a statement issued by Hong Kong Exchanges & Clearing Ltd., the parent company of the defendants.
BUSINESS
Accused of stealing chip tech in US, now thriving in China
But four lines tucked halfway into an otherwise upbeat, 281-page annual report from February hinted at a potentially incendiary problem. ASML accused a Beijing-based firm, regarded by Chinese officials as one of the country’s most promising tech ventures, of potentially stealing its trade secrets.
BUSINESS
US mulls lifting some China tariffs to fight inflation
"We are looking at it. In fact, the president has asked us on his team to analyze that. And so we are in the process of doing that for him and he will have to make that decision," Raimondo told CNN in an interview on Sunday when asked about whether the Biden administration was weighing lifting tariffs on China to ease inflation.
BUSINESS
Activist investor Carl Icahn drops proxy fight over Kroger's pig policy
"I congratulate the McDonald's team on their victory in this proxy engagement and, after much contemplation, given the company's financial position, I believe the same outcome will result at Kroger," Icahn said in a letter he plans to send to the shareholders of both companies that was viewed by the Journal.
BUSINESS
Lifting tariffs on goods may make sense, US commerce chief says
“Steel and aluminum -- we’ve decided to keep some of those tariffs because we need to protect American workers and we need to protect our steel industry; it’s a matter of national security,” Gina Raimondo said in an interview Sunday on CNN’s “State of the Union.”
BUSINESS
Terra investors in India lost big. Now they face the taxman
Because the country’s tax system is punitive to crypto investing, TerraUSD and Luna token holders who got the new coin -- known as Luna 2.0 -- in a so-called airdrop face a double whammy.
BUSINESS
US recession is avoidable if Fed can ‘thread the needle’
While the danger of a downturn has risen as growth has slowed, most economists argue a contraction is unlikely in the immediate future, given the continued strength of the jobs market and the more than $2 trillion in excess cash on household balance sheets.
BUSINESS
Carmakers feel chip crisis easing as global growth slows
Mercedes Benz AG, Daimler Truck Holding AG, and BMW AG are among carmakers now getting enough of the high-tech components to produce at full capacity after experiencing crippling outages for months.
WORLD
Spotify podcasters are making $18,000 a month with nothing but white noise
While the top of the podcast charts on Spotify and Apple are still dominated by garrulous, jawboning hosts, these days you can also reliably find a smattering of white noise shows appearing in the mix.
BUSINESS
Elon Musk says Tesla may have ‘optimus’ robot prototype within months
Tesla AI Day pushed to Sept 30, as we may have an Optimus prototype working by then
BUSINESS
Larry Fink sees elevated inflation for years due to supply shocks
“It’s been aggravated by Covid and lockdowns in different parts of the world,” Fink, 69, said Thursday in a wide-ranging interview on “The Close” on Bloomberg Television. “It’s more supply driven.”
BUSINESS
KKR veteran hunts for India’s startup stars with new fund
Sorin Investment Management, whose name comes from Romanian word for sun, has raised $125 million from investors including family offices of Nayar and the Banga family of Caravel Group, Nayar said in an interview in Mumbai on Wednesday.
BUSINESS
Top tech dealmaker warns China’s VC winter is far from over
Investors in private equity and venture capital funds, known as limited partners, are becoming a lot more selective before committing capital, Bao Fan, founder of China Renaissance Holdings, told Bloomberg News in Hong Kong.
BUSINESS
Stock market’s riskiest fringes rally despite warning signals
Microsoft Corp., America’s second-largest company, cut its profit view. A top Goldman Sachs executive warned that unprecedented economic shocks are on the way. And a Federal Reserve official offered a fresh dose of hawkish commentary. But the riskiest US shares still climbed.
BUSINESS
OPEC+ agrees on bigger oil-production hikes for coming months
Ministers agreed on Thursday that the group should add 648,000 barrels a day of oil to the market in July and August, up from 432,000 barrels a day in recent months, delegates said, asking not to be named because the discussions were private.
BUSINESS
Tomatoes are the next big risk to Modi’s fight against inflation
Tomatoes, potatoes and onions form the holy trinity of Indian cooking, where they’re often mixed with spices to form the base for curries, such as chicken tikka masala.
BUSINESS
Weird and wonderful queen’s jubilee celebrations, explained
Labour Party leader Keir Starmer said the Jubilee is a “a chance for the country to let its hair down after a difficult few years.”
BUSINESS
World’s biggest truck manufacturer says chip crunch easing
After months of factory outages due to the component shortfalls, the order backlog is keeping factories busy even as the global economy shows signs of sputtering, Karin Radstrom, who also leads the truckmaker’s business in Europe and South America, said in an interview.
WORLD
If Watergate happened today, would Richard Nixon have survived?
The 50th anniversary of the Watergate arrests is approaching: The first break-in at Democratic National Committee headquarters was on May 28, 1972, but the botched return on June 17 produced arrests and eventually brought Richard Nixon’s presidency to a premature end on August 8, 1974.
BUSINESS
Sheryl Sandberg is leaving Facebook at a perilous moment
There were also rumors, according to a person close to the company, of tensions with Zuckerberg and of rival factions forming on their executive and PR teams.
