BUSINESS
PBOC’s Pan Gongsheng reiterates monetary policy to remain moderately loose
The policy will promote the high-quality development of China’s economy, People’s Bank of China Governor Pan Gongsheng said.
COMPANIES
Apple to strip secret robotics unit from AI chief weeks after moving Siri
Apple plans to relocate the robotics team from John Giannandrea’s AI organization to the hardware division later this month, according to people with knowledge of the move.
WORLD
Xi seeks detente with Europe as Trump tariffs alienate bloc
To help smooth those ties, Xi is preparing to lift sanctions on several EU lawmakers, according to one European official — a largely symbolic gesture of good will as the measures had little impact.
BUSINESS
New financials from Musk’s X debt sale show changing company
The platform, formerly known as Twitter Inc., posted $91 million in revenue tied to data licensing and subscriptions in February, a 30% increase from a year earlier, according to materials shared with investors related to a new debt sale.
BUSINESS
China weighs exempting some US goods from tariffs as costs rise
Authorities are considering removing the additional levies for medical equipment and some industrial chemicals like ethane
WORLD
Trump considers reducing Chinese car part tariffs, FT says
The proposal would exempt car parts from tariffs President Donald Trump has levied on imports from China to stop fentanyl production, people familiar with the plan told the newspaper.
WORLD
Chinese exporters retreat from US as tariffs erode profitability
BUSINESS
Jane Street’s $20.5 billion trading haul tops Citi and BofA
Unlike banks, firms like Jane Street have their own capital to manage and put to work without the same tight budgets and regulatory requirements.
WORLD
OPEC+ tensions with Kazakhstan boil over sending oil price lower
Oil markets have been jittery since early April, when the producers’ group led by Saudi Arabia stunned traders by accelerating the revival in its output.
BUSINESS
India says tariffs could shave 0.5 percentage point off growth
The IMF slashed its forecasts for world growth this year and next on Tuesday, warning the outlook could deteriorate further as US President Donald Trump’s tariffs spark a global trade war.
WORLD
Tesla inches toward Robotaxi launch in June with tests in Austin
The Austin move and previously announced efforts with Tesla employees in the Bay Area are part of testing that will help develop and validate features including the app, driver-assistance software and vehicle allocation, Tesla said.
WORLD
Xi commits China to tougher climate targets as US retreats
The nation, which accounted for about 30% of total emissions in 2023, will set out new goals for cuts by 2035 “covering the entire scope of the economy, including all greenhouse gases,” ahead of the COP30 summit in November, Xi said Wednesday.
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.
