BUSINESS
US lifts chip design export curbs as part of new China deal
Trump officials originally imposed those export controls in May, as part of a raft of measures responding to China’s limits on shipments of essential rare-earth minerals.
BUSINESS
Jerome Powell silence on his future complicates Trump Fed Chair search
The Fed chief has repeatedly declined to say whether he will step down when his four-year term as chair expires in May, or remain on the Fed board — something he could technically do until his tenure as a governor expires in January 2028
BUSINESS
Gamblers raise alarm over $1.1 billion tax hike in Trump’s Bill
Professional gamblers recently took to social media to rail against the measure, which would take effect next year, and urged Republicans to change it.
WORLD
Asian shares post modest gains before US payrolls
A regional equity gauge rose 0.3% after the S&P 500 closed at another record high Wednesday
BUSINESS
Microsoft to cut 9,000 workers in second wave of major layoffs
The cuts will have an impact across teams, geographies and tenure and are made in an effort to streamline processes and reduce layers of management
BUSINESS
Foxconn pulls Chinese staff from India in hurdle for Apple
More than 300 Chinese workers have left, and mostly support staff from Taiwan remain in India, one of the people said.
INDIA
China, India to power global leisure travel market's growth to $15 trillion by 2040: Report
The growth of the middle class in these places is giving rise to consumers that are newly interested in leisure travel, the report said
BUSINESS
India’s Biocon aims to lead copycat Wegovy sales in Canada from next year
The Bengaluru-based company is seeking approval of generic Ozempic by September from Canadian authorities, and also in some emerging markets
WORLD
Major Chinese ports keep Iranian oil flowing despite sanctions
From January to June, terminals in the port clusters around Qingdao, Dalian and Zhoushan — major import points that take industrial metals, agricultural and consumer goods, as well as oil — have helped China purchase almost 1.4 million barrels a day of Iranian crude
BUSINESS
Alibaba offers $7 billion of subsidies to defend turf in China
China’s e-commerce leader is facing growing challenges from up-and-comers like PDD Holdings Inc.
BUSINESS
Trump’s 35% tariff threat feeds Japan’s worst-case scenario fear
Market participants and analysts warned against taking Trump’s comments at face value and suggested that some kind of deal will eventually get done
BUSINESS
RBI panel likely to recommend India retains 4% inflation target
Retaining the inflation target would remove some uncertainty about the process and reassure market participants about policy continuity under Governor Malhotra, who took office in December, and a relatively new set of members on the MPC.
BUSINESS
Goldman names Raghav Maliah global chairman of Investment Banking
Maliah will continue to serve as co-head of mergers & acquisitions in Asia Pacific and head of the Technology, Media, and Telecommunications Group in the region, excluding Japan, according to the memo confirmed by a spokesman.
BUSINESS
SoftBank’s Ampere deal faces in-depth US probe in threat to AI ambitions
Only a small portion of deals face such follow-up requests. In some instances investigations can last for a year or more and are a precursor to a lawsuit to block the deal
BUSINESS
Trump tariff risks put Asian stocks’ strong July record to test
While the MSCI Asia Pacific Index has gained for three consecutive months through June, a potential return of “Liberation Day” tariff rates could send shares plunging in a similar way they did in early April.
BUSINESS
Japan leads Asian stocks lower on tariff angst
Japanese stocks declined 1% after Trump threatened to hike tariffs on the country and deepened his criticism of Japan for not accepting US rice exports.
BUSINESS
Powell says tariff impact on US prices seen coming this summer
Still, he added, policymakers are prepared to learn the impact could be “higher or lower, or later or sooner than we expected.”
WORLD
Standard Chartered faces $2.7 billion lawsuit linked to 1MDB
Liquidators began legal proceedings against the UK-headquartered bank in Singapore, according to a statement released on Tuesday
BUSINESS
Automakers clash with Centre over ‘aggressive’ emission limits
Plans to cut car emissions by a third from 2027, more than twice the pace of its previous target, risks the sustainability of the industry, according to a SIAM note
BUSINESS
Boeing to replace CFO Brian West with former Lockheed finance chief
West was instrumental in shoring up Boeing’s cash reserves with a $24 billion equity sale last year, a near-record for a public company.
COMMODITIES
Gold edges higher on US rate-cut bets and dollar weakness
Gold is up by about a quarter this year and is trading less than $200 short of April’s record high, supported by elevated trade and geopolitical risks.
WORLD
Trump floats Japan tariff, Hassett says deals after July 4
Trump’s latest round of brinkmanship with Tokyo on Monday comes just over a week before a July 9 deadline for higher tariffs
BUSINESS
Asian stocks post modest gain, dollar edges down
The Nikkei-225 index fell 0.9% at the open as Trump threatened to impose a fresh tariff level on the Asian country.
WORLD
China's Communist Party inches past 100 million-member milestone
The increase compares to a growth rate of 1.2% in 2023 and 1.4% in 2022, down from a 3.7% jump in 2021.
