BUSINESS
Samsung billionaire Lee’s long legal saga ends with acquittal
The decision ends a years-long legal saga that had cast a shadow over the leadership of South Korea’s biggest conglomerate
BUSINESS
Trump eyes tariff rate of 10% or 15% for more than 150 countries
“We’ll have well over 150 countries that we’re just going to send a notice of payment out, and the notice of payment is going to say what the tariff” rate will be, Trump told reporters on Wednesday at the White House.
BUSINESS
Asian stocks waver at open after Trump-Powell saga
Equity-index futures for the S&P 500 fell 0.2% in early trading Thursday following a 0.3% gain for the index after President Donald Trump played down the prospect he may soon fire Powell
BUSINESS
JPMorgan is now worth more than three largest rivals combined
It racked up $30 billion of profit in that period, more than double its closest rival
WORLD
Trump says he’ll send tariff letters to more than 150 countries
Trump in recent days has unleashed a flurry of tariff demands, informing other economies of new duties that will kick in on August 1 if they cannot negotiate better terms with the US
BUSINESS
Trump now says firing Powell ‘unlikely,’ whipsawing US markets
Trump looked to downplay possibility of firing Powell, suggesting he was content to wait until the end of his term in May 2026.
BUSINESS
Trump likely to fire Federal Reserve Chair Jerome Powell soon: White House official
Anna Paulina Luna, a Florida Republican who was among the holdouts on the cryptocurrency bill, wrote on social media that she was “Hearing Jerome Powell is getting fired! From a very serious source.”
BUSINESS
SoftBank-backed travel app Klook is said to consider US listing
Klook may confidentially file an application for IPO in the US soon to raise from $300 million to $500 million
WORLD
Goldman posts best stock-trading quarter in Wall Street history
At $4.3 billion, equity-trading revenue for the second quarter was about $600 million more than what analysts were expecting
COMPANIES
Schneider Electric in talks to acquire Temasek’s stake in Indian JV for $1 billion
A potential transaction could value the whole venture at roughly $5 billion including debt
WORLD
Logan says Fed needs to hold rates longer to cool inflation
But Logan, who has been cautious about inflation during her three-year tenure as Dallas Fed chief, also opened the door to a scenario in which the central bank might have to cut rates earlier.
WORLD
Bessent is not top Fed candidate but ‘very good,’ Trump says
Asked by a reporter whether Bessent was the top option, Trump responded, “Well, he’s not, because I like the job he’s doing.”
BUSINESS
Larry Ellison overtakes Zuckerberg as world’s second-richest person
More than 80% of Ellison’s wealth is in the form of Oracle stock and options.
BUSINESS
Trump says drug tariffs probable by August 1, downplays more deals
At a Cabinet meeting earlier this month, Trump said he expected pharmaceutical tariffs to grow as high as 200% after giving companies a year to bring manufacturing back to the US.
BUSINESS
Asian stocks decline as Fed rate cut bets wane
The MSCI regional gauge dropped 0.4% with losses in Australia, Japan and South Korea.
BUSINESS
Renault cuts margin outlook, names CFO Duncan Minto interim CEO
Minto is taking over from Luca de Meo, who is leaving for Gucci owner Kering SA
BUSINESS
Bitcoin chases American dream in norm-shattering mortgage push
If crypto is eventually allowed to count toward mortgage eligibility without being liquidated, borrowers could retain their tokens instead of converting them to meet reserve requirements
WORLD
'Absolutely. If you can...': Zelenskiy's response to Trump on whether Ukraine can hit Moscow
Details of the alleged conversation emerged a day after Trump pledged fresh weapons supplies to Kyiv that would be paid for by European allies
WORLD
US core CPI rises less than expected again on drop in car prices
The consumer price index, excluding the often volatile food and energy categories, increased 0.2% from May. On an annual basis, it advanced 2.9%
BUSINESS
Executive Centre said to seek Rs 2,600 crore million for India IPO
The flexible workspace manager has hired Kotak Mahindra Capital Co. and ICICI Securities Ltd. to arrange the listing
BUSINESS
Indira IVF said to revive India IPO that may raise Rs 3,500 crore
The company, backed by private equity firm EQT AB, plans to submit the so-called draft red herring prospectus later this month
WORLD
Americans’ new tax rates depend on who they are and what they do
The new $3.4 trillion fiscal package multiplies the categories of people and economic activity getting favored treatment
BUSINESS
SMFG said to eye $1.1-billion additional investment in Yes Bank
SMFG may also buy about $680 million in convertible bonds issued by Yes Bank to help boost growth
BUSINESS
Rio Tinto names iron ore boss Simon Trott as miner’s new CEO
Trott, 50, takes on the role after Rio sought a leader with more mining experience to focus on portfolio growth. Rio has many expansions in the pipeline, including a $13 billion splurge on iron ore, a range of new lithium projects, and plans to keep growing in copper.
