WORLD
Israel-Iran war in second week as Donald Trump sends mixed signals
Donald Trump repeated his stated belief that Iran was a matter of weeks from getting a nuclear bomb when Israel attacked, and again dismissed US intelligence findings
WORLD
Harvard nears ‘mindbogglingly’ historic US deal, Trump says
“They have acted extremely appropriately during these negotiations, and appear to be committed to doing what is right,” Trump said.
BUSINESS
Hedge funds rush into oil long bets as Mideast conflict grows
Oil futures spiked as much as 13% on June 13 as Iran and Israel escalated a conflict that has loomed over global oil markets for 20 months, but had yet to reduce output.
MARKETS
US stocks extend losing run as geopolitics dampens investor mood
The tech-heavy Nasdaq 100 Index finished Friday’s session down 0.4% in New York after gaining as much as 0.8% earlier in the day. Meanwhile, the S&P 500 Index closed 0.2% lower.
BUSINESS
US dollar is hanging on to its haven role by a thread, survey shows
A little more than half of 251 respondents think the US currency will regain its status as a safe asset as Iran and Israel continue to carry out attacks on each other.
BUSINESS
Federal Reserve Governor Christopher Waller says US Central Bank could cut interest rates as soon as July
Waller’s comments follow the decision by Fed policymakers on Wednesday to keep interest rates on hold
BUSINESS
Musk’s xAI sweetens debt offering as investors face deadline
Some investors expected the company would need to raise yields on the debt to close the deal.
BUSINESS
Tesla set to open India showrooms in July with made-in-China EVs
Tesla is set to open its first showroom in Mumbai as early as mid July, which will be followed by one in New Delhi
WORLD
Israel resumes gas supplies to Egypt following six-day halt
Israel shut down two of its three gas fields on June 13 as a precautionary measure as the country exchanged missile fire with Iran
WORLD
US futures pare losses as Trump weighs Iran role
Contracts for the S&P 500 were down around 0.3% from Wednesday’s close in early Asia hours, compared with a 0.9% drop on Thursday when US markets were closed for the Juneteenth holiday.
INDIA
India may cut oil product exports if Strait of Hormuz is blocked
Iran has previously threatened to close the strait in times of conflict, though there’s no sign of that happening so far.
BUSINESS
India rupee at three-month low as oil spikes on mideast conflict
India relies heavily on overseas crude purchases to meet its energy needs, and rising oil prices pose risks to both the country’s fiscal position and inflation outlook.
INDIA
How an unpredictable summer has ignited concerns for India's consumer firms
A cooler-than-usual summer this year — followed by the earliest onset of rain since 2009 — has hurt companies selling everything from talcum powder to air conditioners
BUSINESS
Blackstone’s ASK plans to hire 70 wealth bankers in India
The rise of wealthy Indians across the country has sparked the creation of many new firms competing to manage their money
IPO
LG Electronics said to consider resuming IPO of Indian unit
The company is planning to refile its preliminary prospectus with updated financial results after the summer, with the IPO potentially taking place as early as the fourth quarter
WORLD
Asian stocks slide after US Fed’s inflation warning
MSCI’s regional gauge of shares was down 0.3%, as markets in Japan and Australia opened lower
BUSINESS
Nvidia joins $650 million funding for Gates-backed nuke firm
The funding round included new investors such as NVentures, the venture capital arm of Nvidia Corp., and existing backers Gates and HD Hyundai, a South Korean shipbuilder, according to a statement Wednesday
BUSINESS
Stocks rise after Trump says Iran has reached out
Equities staged a cautious bounce, with the S&P 500 remaining above 6,000 after moving slightly away from session highs
BUSINESS
Dollar falls as risk of dovish Fed offsets boost from oil
Spot traders are selling the currency against most peers, pushing down a gauge of the dollar to keep it near a three-year low on Wednesday ahead of the Fed’s policy decision later in the day
BUSINESS
US stocks rise as investors await Federal Reserve rate decision
A hawkish signal is expected from the Federal Open Market Committee’s meeting later on Wednesday
BUSINESS
Nippon Steel closes $14.1 billion acquisition of US Steel
The $55-a-share cash deal creates the world’s second largest steelmaker and turns the combined entity into a formidable competitor within the American steel industry
BUSINESS
Standard Chartered faces RBI scrutiny over lapses in derivatives sales
The RBI’s review of Standard Chartered is ongoing, with focus on derivative products and risk governance
BUSINESS
Fed to hold rates steady again as officials wait for more clarity on economy
Investors anticipate the next rate cut won’t come until at least September, with another one potentially following in December. Powell will likely try to avoid saying anything too definitive about this year’s rate path.
WORLD
China consumer rush for subsidies overloads stimulus program
The disruptions are putting Beijing at a crossroads as it looks for a longer-term fix to a crisis of confidence among households.
