WORLD
Trump threatens to send Harvard grant money to trade schools
The Trump administration has already moved to freeze funding and block Harvard’s ability to enroll international students
BUSINESS
JSW Steel’s pathway to Mozambique coal deal reopens
JSW Steel Ltd.’s $74 million deal to buy Minas de Revuboe — announced a year ago — ran into trouble when the administration of then-President Filipe Jacinto Nyusi revoked the local company’s mining lease
BUSINESS
Volvo car plans to cut 3,000 jobs after profit plunge
Volvo will incur restructuring costs of as much as 1.5 billion Swedish kronor ($140 million) that will impact the company’s second-quarter results
INDIA
India debuts new weather model to help farming, flood planning
India is hoping that a new weather model can significantly help boost its capabilities by forecasting at a resolution of roughly 6 kilometers (3.7 miles), doubling the level of detail previously possible
INDIA
Oil spill spotted after Liberian ship sinks off Kerala's coast
The Liberian-flagged MSC ELSA 3 was carrying hazardous cargo in 13 containers, 12 containers of calcium carbide as well as hundreds of tons of fuel in its tanks
BUSINESS
Chinese EV stocks tumble after BYD slashes prices up to 35%
Shares of China’s No. 1 selling car brand tumbled as much as 8.3%, while peers Li Auto Inc., Great Wall Motor Co. and Geely Automobile Holdings Ltd. dropped more than 5% amid investor concern about intensifying competition in the sector.
BUSINESS
Chinese EV stocks tumble after BYD slashes prices up to 35%
Citi estimated that after the weekend’s discounts, BYD dealership traffic may have surged between 30% to 40% week-on-week.
BUSINESS
Asian shares, US futures rise on EU tariff delay
Contracts for the S&P 500, Nasdaq 100 and Euro Stoxx 50 rose about 1% after Trump said he had agreed to delay the date for a 50% tariff on goods from the European Union to July 9 from June 1.
BUSINESS
Trump extends deadline for 50% tariffs on EU goods to July 9
Trump on Friday threatened to impose a higher, 50% tariff on the EU starting June 1 after complaining the bloc was slow-walking negotiations and unfairly targeting US companies with lawsuits and regulations.
WORLD
Softbank’s Son floats idea of US-Japan sovereign wealth fund: Report
Son has discussed the plan with US Treasury Secretary Scott Bessent, although it hasn’t been formally proposed, the report said
WORLD
Trade war's impact, key growth indicators: How global economy will shape up next week
US trade-policy fingerprints are expected to become more apparent as soon as next month, according to many economists
WORLD
Sergey Brin’s mystery $700 million stock gift went to philanthropies
The largest portion of Brin’s gift went to Catalyst4, a nonprofit which Brin started in 2021
WORLD
Shravin Bharti Mittal, heir to $27 billion Bharti fortune, joins Britain’s wealth exodus
The move shows how some of the world’s richest millennials are joining their older counterparts in exiting the UK after it introduced sweeping tax reforms
WORLD
US importers pay record $16.5 billion as April tariff bill lands
That revenue, disclosed in Treasury Department data released Friday, reflects the full impact of President Donald Trump’s new universal tariffs for the first time.
WORLD
Trump shocks with US Steel-Nippon approval but details elusive
Trump stopped short of explicitly endorsing Nippon Steel’s earlier proposed $14.1 billion takeover of US Steel
BUSINESS
BYD beats Tesla in Europe for the first time with 169% surge
Tesla continued to slump despite accelerating growth in Europe’s EV segment.
BUSINESS
Jane Street earned over $2.3 billion revenue from equity derivatives in India in 2024
The Securities and Exchange Board of India is investigating the company’s derivatives trades after some market participants alleged manipulation by the firm.
BUSINESS
Gold heads for weekly surge as US fiscal concerns cause tremors
After Moody’s Ratings’ decision to strip the US of its top credit rating, investors are now concerned that President Donald Trump’s signature tax bill — which passed the House and now goes to the Senate — will boost the already swelling deficit.
BUSINESS
Asian equities advance while treasuries hold gains
With the yield on 30-year Treasury bonds again passing the 5% mark on Wednesday, the nation’s creditors injected a dose of harsh economic reality into Trump’s fiscal policy.
BUSINESS
Traders venture into FX market that merges spot and futures
The idea is to allow traders to access a wider pool of participants to match orders off against, at a time when currency volatility has surged due to uncertainty on US trade policies.
BUSINESS
US stocks ‘astronomically complacent’ about trade war, says CLSA
Even with the trade war hanging over markets, the S&P 500 sits less than 5% off its record high from February, and close to the median year-end forecast of strategists tracked by Bloomberg.
BUSINESS
Lenovo’s shares sink after PC, AI hardware rivals squeeze profit
In PCs, Lenovo cemented its lead over HP Inc. and Dell Technologies Inc. in the first quarter, when it grew worldwide shipments almost 11%.
BUSINESS
Banks said to have asked RBI to lower daily cash reserve rule
The cash reserve ratio currently stands at 4% of deposits, which needs to be reported by banks to the Reserve Bank of India on a fortnightly basis. Banks set aside 90% of this requirement daily at present.
BUSINESS
Asian shares drop, 30-year treasuries hold losses
A regional stock gauge dropped for the first time in three days on weaker openings in Australia, Japan and South Korea.
