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.
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.
