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.
BUSINESS
OpenAI to buy AI device startup from Apple veteran Jony Ive in $6.5 billion deal
BUSINESS
Bitcoin rises to record on optimism around US regulations
WORLD
DOGE asks US Supreme Court to block access to its records
ENVIRONMENT
Global forest loss tops record as wildfires drive destruction
BUSINESS
India’s short-term bonds rally on hopes of record RBI dividend
The RBI board will meet on Friday to consider the dividend.
BUSINESS
Asian stocks gain, oil rises on Israel-Iran report
Benchmarks in Australia, South Korea and Japan all climbed, pushing a gauge of Asian shares 0.4% higher in early trade.
BUSINESS
Apple to open AI models to developers, betting that it will spur new apps
The iPhone maker is working on a software development kit and related frameworks that will let outsiders build AI features based on the large language models that the company uses for Apple Intelligence, according to people with knowledge of the matter
BUSINESS
Musk says he’s committed to being Tesla CEO for next five years
Musk plans to cut back his political spending, easing some investors' worries about the future of his most valuable company.
INDIA
India plans to spend $10 billion on homebuilt oil tanker fleet
The plan’s first phase involves purchasing 79 ships, of which 30 of them would be medium-range vessels, said sources
BUSINESS
Russian oil flows are becoming increasingly obscured
WORLD
Mauritius wants to ride a wealth boom out of its tax haven reputation
BUSINESS
Chinese smartphone exports to US plunge to lowest since 2011
BUSINESS
Jamie Dimon warns markets are underestimating geopolitical, inflation risks
Dimon said the chances of elevated inflation and stagflation are greater than people think, cautioned that America’s asset prices remain high and said that credit spreads aren’t accounting for the impacts of a potential downturn.
BUSINESS
India expects multi-phase trade deal with US as talks proceed
The final leg of the deal will likely be a comprehensive agreement that would follow once there’s approval from the US Congress, possibly concluded only next year, Indian officials familiar with the matter said.
BUSINESS
Gold edges lower as haven demand from Moody’s downgrade fades
Gold is still up by more than fifth this year, however, and is unlikely to go into a sharp decline due to the uncertainty that Trump has injected into the global economy.
BUSINESS
Chinese banks lower benchmark lending rates after easing by PBOC
The five-year rate, a reference for long-term loans including mortgages, was cut to 3.5% from 3.6%, same as expected.
