WORLD
Donald Trump says millionaire tax would push wealthy to leave US
A 40% tax rate on income over $1 million would generate about $400 billion in revenue over the next decade, according to some estimates.
BUSINESS
Gold rises after a more conciliatory Trump spurs steep decline
Bullion rose as much as 1.5% in Asian trading, after plunging 2.7% in the previous session.
BUSINESS
Adani's airport unit seeks $750 million loan from global banks
Lenders include Barclays Plc, First Abu Dhabi Bank PJSC and Standard Chartered Bank Plc, said the people, who asked not to be identified as the information is not public. The proceeds would fund capital expenditure and refinance dollar debt due in September. The unit aims to conclude the debt raise by early May, they added.
BUSINESS
LG Electronics is said to pause work on India unit’s IPO plans
The South Korean company had started roadshows earlier this year to meet potential investors in the IPO, but the Indian unit might have faced a lower valuation than previously expected, said a report
WORLD
Treasuries auctions may show if there’s a foreign buyers’ strike
Treasuries rallied in early Asia trading Wednesday with the benchmark 10-year yield falling 5 basis points to 4.35% and the 5-year equivalent slipping one basis point to 3.99%
BUSINESS
Sam Altman to step down as chairman of nuclear developer Oklo
Oklo’s chief executive officer and co-founder Jake DeWitte will take over as chairman, the Santa Clara, California-based company said in a statement on Tuesday.
WORLD
Saudi Arabia, India agree to set up two oil refineries
India and Saudi Arabia’s leaders met as both countries look to support their economies in the face of wide-ranging US tariff policies that threaten to stunt growth.
WORLD
IMF now sees global growth more reliant on China and India
India is now expected to add more than 15% of additional output through 2030, while the US share drops to 11.3% from a prior estimate of 11.6%.
BUSINESS
Musk says he’ll limit time with US government to focus on Tesla
Musk also said that he plans to keep advocating for President Trump to pull back on tariffs, which have hit Tesla.
BUSINESS
Russian oil flows to India on track for two-year high in April
India’s imports of Russian crude are on track to hit 2.15 million barrels a day in April.
BUSINESS
Nomura bets big on US market rebound with $1.8 billion deal
With the purchase of Macquarie Group Ltd.’s US and European public asset management business, Nomura is scooping up about $180 billion in client assets across equities, fixed income and multi-asset strategies.
BUSINESS
US imposes tariffs up to 3,521% on Southeast Asia solar imports
The duties are the culmination of a yearlong trade probe that found solar manufacturers in Cambodia, Vietnam, Malaysia and Thailand were unfairly benefiting from government subsidies and selling exports to the US at rates lower than the cost of production.
BUSINESS
Gold surges to record as Trump ramps up threats against Powell
Trump called on the Fed to cut rates immediately, a move seen as a threat to the central bank’s independence that drove the dollar to the lowest since late 2023.
BUSINESS
Metals billionaire Agarwal seeks mining reboot amid debt overhaul, Saudi push
The overhaul will allow the group to list each of its key businesses: aluminum, oil & gas, power, iron & steel, along with the publicly traded core company Vedanta.
BUSINESS
Asian stocks dip after US selloff, dollar edges up
Some stability appeared in US assets in early Asian trading as equity-index futures extended a late Monday rally.
BUSINESS
Traders unfazed in ‘quietest’ market selloff as big days pile up
April 2025 is on track to take its place among the most volatile stretches on record, next to October 2008 and March 2020.
BUSINESS
Air India keen to take Boeing planes refused by Chinese airlines
The Tata Group-owned carrier, which urgently needs aircraft to expedite its revival, plans to approach Boeing about acquiring a number of jets the US planemaker was readying for Chinese airlines before reciprocal tariffs thwarted the handovers, according to the people, who are familiar with discussions at the Indian airline and didn’t want to be identified because the information isn’t public.
AUTOMOBILE
CATL teases five-minute EV charge with longer range than BYD
CATL teased the latest innovations at its Tech Day on Monday in Shanghai — a multi-hour event that took place in a converted warehouse on the outskirts of China’s financial capital
WORLD
Saudi Aramco agrees with China’s BYD to explore new EV technology
Saudi Arabia has been plowing money into the EV space in recent years as it strives to create a domestic auto manufacturing hub under Crown Prince Mohammed bin Salman’s agenda to diversify the economy away from oil
BUSINESS
Bitcoin rebounds as Trump’s push against Powell weakens dollar
The rebound comes as the dollar and US stock-index futures fell Monday after the president’s criticism of the Federal Reserve raised concerns over its independence.
BUSINESS
Gold climbs toward record as global trade war concerns dominate
Gold has soared to successive records this year as the trade conflict has unsettled global markets, hurting appetite for risk assets while accelerating a rush to havens.
WORLD
Trump’s global trade war hangs over Vance’s India visit
Prime Minister Narendra Modi is slated to host Vance for a bilateral meeting, the White House said.
BUSINESS
Oil fell with Ukraine-Russia truce, US-Iran talks in focus
Oil has declined sharply this month, touching a four-year low at one point, driven by investors’ fear of that the onslaught of tariffs and counter-levies between the US and its biggest trading partners including China will sap crude demand.
WORLD
Mark Zuckerberg, Jamie Dimon are among top sellers ahead of tariff stock rout
The bulk of last year’s sales came from Jeff Bezos, who disposed of Amazon.com Inc. shares worth more than $8.5 billion in February
