TECHNOLOGY
Apple plans to overhaul entire Mac Line with AI-focused M4 Chips
The new chip will come in at least three main varieties, and Apple is looking to update every Mac model with it, said the people, who asked not to be identified because the plans haven’t been announced.
BUSINESS
McKinsey starts hundreds of job cuts as client demand slows
The reductions are global and will affect employees across a variety of divisions including design, data engineering, cloud and software, according to people familiar with the matter
BUSINESS
Fed favours reducing monthly asset runoff pace by roughly half
The record of the March 19-20 FOMC meeting also showed “almost all” officials judged it would be appropriate to begin lowering borrowing costs “at some point” this year. However, inflation data since then has upended expectations for three interest-rate cuts this year.
SPACE
US, Japan to announce plans to send Japanese astronaut to Moon
The pledge, which is expected to be announced during Prime Minister Fumio Kishida’s visit to Washington to meet with President Joe Biden, is meant to signal more robust economic and defense ties between the two nations.
BUSINESS
BMW EV sales surge even as rivals struggle with weak demand
Customer deliveries of battery-powered models such as BMW’s i4, iX1 and i7 jumped 41% in the three months through March compared to the same period last year, the company said Wednesday. The results helped group EV sales rise by 28%.
BUSINESS
Bain-Backed Adani Capital hires Rakesh Das as chief credit officer
Rakesh Das, who joined last week, will oversee the non-bank financial company’s credit practices, said the people, asking to be unnamed because they aren’t authorized to speak publicly about it.
BUSINESS
Air India dealt blow as aircraft technicians plan strike
The unrest among aviation workers risks thwarting India’s air travel boom. Pilots and aircraft engineers are crucial to support the country’s rapid fleet expansion after IndiGo, Air India and Akasa placed orders for more than 1,100 aircraft combined.
BUSINESS
India wants to be the world’s next growth driver
Today on the show, Bloomberg’s New Delhi-based economics and politics reporter Dan Strumpf joins host Sarah Holder to discuss India’s roadmap, and what its success could mean for the rest of the world.
TECHNOLOGY
Intel unveils new AI accelerator in bid to challenge Nvidia
The updated processor, called Gaudi 3, is designed to boost performance in helping train AI systems and running the finished software
TECHNOLOGY
Google unveils AI updates for cloud computing customers
At the company’s annual cloud computing conference in Las Vegas on Tuesday, Cloud Chief Executive Officer Thomas Kurian showed off how Google’s most powerful AI model, Gemini, can be used to create advertisements, ward off cybersecurity threats and spin up short videos and podcasts.
INDIA
Govt may devote more sugar to ethanol in blow to export hopes
The government is considering a proposal to permit factories to use an additional 800,000 tons of sugar for biofuel this year, as the crop is likely to be higher than predicted, said the person, who asked not to be identified as the talks are confidential.
INDIA
India predicts searing heat in threat to lives, power supply
Coal’s share in power output rose to 77% in the first week of April, about two percentage points higher than a year earlier, according to data from the Grid Controller of India Ltd., making up for shortfalls in hydropower output.
BUSINESS
The lithium world confronts hard truths after epic boom and bust
Prices have bottomed out but have struggled to meaningfully rebound, partly because miners, refiners and carmakers are still working through a mound of surplus stock clogging up the supply chain.
WORLD
With no pay, Pakistan’s Finance Minister leaves banker life behind to fix economy
Muhammad Aurangzeb took up the post last month at a time when Pakistan’s economy is enduring the most turbulent period in its history.
BUSINESS
Adani Green in talks to raise $400 million in offshore loan
The foreign currency loan could range from seven to ten years, with the pricing likely linked to the Secured Overnight Financing Rate, said the people, who asked not to be named because the discussions are confidential.
WORLD
James Bullard says three Fed rate cuts this year is ‘base case’
“At this point, you should probably take the committee and chair at face value — their best guess right now is still three cuts this year,” Bullard said Tuesday in an interview with Bloomberg TV. “That’s the base case.”
WORLD
Bitcoin’s nearest rival Ether sustains surge on US ETF speculation
The second-largest digital asset traded at about $3,710 as of 11:20 a.m. on Tuesday in Singapore, maintaining an 8.5% advance from US hours. Ether’s 62% year-to-date gain is closing in on market-leader Bitcoin’s 68% increase.
WORLD
UBS weighs Credit Suisse China stake swap with Beijing government
The Zurich-based lender is proposing to buy the 33% stake held by Beijing State-Owned Assets Management Co. in their joint venture UBS Securities Co., the people said, asking not to be identified discussing a private matter.
WORLD
Janet Yellen threatens sanctions for China banks that aid Russia war
The Biden administration is trying to crack down on firms worldwide that help Russia evade the net of sanctions that the US and its allies have imposed on Moscow since its invasion of Ukraine in 2022.
BUSINESS
Hottest Indian stock index also has the best earnings potential
The gauge has seen its forward profit estimates climb 20% so far this year, far outpacing the 3.5% increase for the larger gauge.
SCIENCE
Eclipse will darken solar panels and cut off power supplies to the grid
The eclipse will briefly darken a long swath of North America, from northern Mexico to New England and the Canadian Maritime provinces
BUSINESS
AstraZeneca, Daiichi drug gets broad tumor approval in US
The US Food and Drug Administration cleared the medicine for patients who have HER2-positive solid tumors that have spread or can’t be removed with surgery, the company said. These patients have already received prior treatment and don’t have any good alternatives.
WORLD
Wall Street searches for AI winners across emerging markets
At a time when the global euphoria about AI has propelled a three-fold surge in Nvidia Corp. and a 50% jump in a key US index for semiconductor manufacturers in less than a year, investors are pointing toward emerging markets for better value and a bigger pool of options.
WORLD
Turkey meets four-day work week with Aksa’s landmark decision
Aksa Akrilik Kimya Sanayii AS tested the shorter work week in an effort to boost operational efficiency and promote work-life balance.
