WORLD
Emmanuel Macron the gambler wins chance to play kingmaker: Lionel Laurent
Exit polls for the final round of France’s snap parliamentary election suggest voters have delivered an emphatic “non” to Marine Le Pen’s far-right National Rally, but only a hesitant “maybe” to her rivals on the left and in the center.
BUSINESS
Chinese, Indian stocks favored over Japan in Asia’s second half
About a third of 19 Asia-based strategists and fund managers surveyed informally by Bloomberg News said they see Chinese stocks outstripping most over the next six months. A similar number picked India as their top bet while Japan was a distant third.
BUSINESS
India will fail to plug jobs gap even with 7% growth, Citi says
Citi estimates India will need to create about 12 million jobs a year over the next decade to absorb the number of new entrants to the labor market. Based on a growth rate of 7%, India can only generate 8-9 million jobs a year, the bank’s economists Samiran Chakraborty and Baqar Zaidi wrote in a report this week.
WORLD
French bond futures, Euro slip as left success sows fiscal doubt
Government bond futures fell 23 ticks in early Asia trading, the common currency fell 0.2% to around $1.0821, while Euro Stoxx 50 Index futures were steady. The left’s success has shone the spotlight on its campaign for a sharp increase in government spending.
MARKETS
Indian, Chinese stocks favored over Japan in Asia’s second half
An informal Bloomberg News survey of 19 Asia-based strategists and fund managers revealed that about a third anticipate Chinese stocks leading the region over the next six months, with a similar number favoring Indian equities. Japan was a distant third in their predictions.
POLITICS
Chandrababu Naidu seeks Central aid of over Rs 1 lakh crore for Andhra Pradesh: Report
BUSINESS
HDFC Bank said to mull loan portfolio sale amid growth scrutiny
India’s biggest private sector bank has approached public sector lenders, non-banking finance companies as well as some insurance companies and asset managers about participating in the sale, said the people, who requested anonymity discussing private conversations.
WORLD
Here’s a running tally of the UK Tory big names who have lost
And those losses have begun. With the exit poll predicting Labour is on course for a landslide win, early results are confirming that picture. Here’s a running tally of the well-known Tory stars who have lost their seats:
BUSINESS
India’s banks know climate is their biggest threat: Mihir Sharma
Indian regulators have been slow to respond. It wasn’t until earlier this year that the RBI finally released a draft framework that would require financial institutions to devise and disclose their strategies to mitigate climate-related risk.
WORLD
China's PBOC readies multibillion-yuan pool of bonds to sell by tapping major banks
After months of investor speculation about its intentions, the People’s Bank of China disclosed the clearest outline yet of its unprecedented plans in a statement to Bloomberg News on Friday.
WORLD
Donald Trump wasn’t going to prison anyway, neither was Hunter Biden
As first-time offenders convicted of non-violent crimes, it would be extremely unusual for either to serve time
BUSINESS
India’s LNG imports set to slump as monsoon hits power demand
“Electricity demand won’t be as high as it was in May and June, which is the prime driver of higher LNG imports,” said Ayush Agarwal, LNG analyst at S&P Global Commodity Insights.
WORLD
Pakistan imposed a milk tax, now the dairy staple costs more in Karachi than Paris
Pakistan raised taxes by 40%, the highest on record, in last week’s budget aimed at meeting conditions set by the International Monetary Fund for a new bailout
BUSINESS
India’s hopes for Tesla investment cool as Elon Musk ceases contact
Elon Musk in April scrapped a planned visit to India that would have included a meeting with Prime Minister Narendra Modi, citing pressing issues at the company
MARKETS
Do markets perform better under Labour? not quite: Merryn Somerset Webb
This week should see Labour winning power with a pretty hefty majority. The consensus has been that this is not an election anyone would particularly want to win, but as the dust of the election clears, the new government should see that they have been dealt a perfectly reasonable hand.
BUSINESS
UBS loses another senior India banker with strategy yet unclear
Aditya Goenka, a Mumbai-based managing director in structured lending, is leaving to join HSBC Holdings Plc in its commercial banking business, the people said, asking not to be named as the information is private.
WORLD
Foxconn to invest $551 million in two projects in north Vietnam
The company has been granted a license for a $264 million project in Song Khoai Amata Industrial Park to produce smart entertainment products, with designed capacity of about 4.2 million units per year, according to a posting on the provincial government’s website.
WORLD
Joe Biden struggles to contain mounting pressure to drop out of race
The White House and Biden’s campaign quickly denied the Times report suggesting the president had vocalized to a supporter that he could ill-afford another misstep that would irrevocably damage his campaign. Biden himself insisted to campaign staff he intended to remain in the race.
BUSINESS
PM Modi’s budget to send India’s soaring stocks higher, survey says
The upcoming government budget will likely boost consumer spending and infrastructure building, which bode well for businesses, strategists and investors surveyed by Bloomberg said.
BUSINESS
Jeff Bezos to sell $5 billion of Amazon as shares hit record high
Bezos sold shares worth about $8.5 billion over nine trading days in February — the first time he disposed of company stock since 2021.
BUSINESS
JPMorgan’s Kolanovic to exit amid string of poor stock calls
Kolanovic, who has been at JPMorgan for 19 years, is “exploring other opportunities,” the memo stated
WORLD
UK Election 2024: Hour-by-hour guide to how the results come in
Pollsters say the question is less about a Labour win than the scale of it. Starmer’s party has led the Conservatives by more than 20 points through the 6-week election campaign, according to Bloomberg’s poll of polls
BUSINESS
MUFG’s talks for minority stake in HDB Financial said to be stalling
HDFC could consider an initial public offering of the consumer lending unit as an alternative, one of the people said
BUSINESS
Bain’s India lender plans to double portfolio ahead of listing
Tyger Capital Pvt Ltd., acquired by Bain Capital from the Adani Group, aims to expand its loan portfolio twofold as it prepares for a listing on India’s stock exchanges in the upcoming fiscal year.
