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.
BUSINESS
HSBC helps funds navigate India’s bond market as inclusion nears
The bank is among custodians helping global investors with registration and other formalities as they gear up for the nation’s sovereign debt to be added to JPMorgan Chase & Co.’s emerging-market gauge from June.
BUSINESS
Biocon leads India push into weight loss drugs as patents lapse
The Bengaluru-based firm has scored an early win among its peers with the UK approval for the first generic version of liraglutide injectible, which is losing patent protection in November.
BUSINESS
The Gold market hunts for answers behind bullion’s sudden surge
Analysts are armed with better market data than they’ve ever had before, and yet the cumulative answer is frustratingly vague: It’s everyone all at once, and no one in particular.
BUSINESS
India seeks $100 billion a year in FDI as it woos China hedgers
The ambitious target compares with an annual average of more than $70 billion in FDI in the five years through March 2023 and would be a reversal in trend after last year’s decline. Singh said that the figure for the current fiscal year will be “closer to” the $100 billion target.
WORLD
Thailand leads push for six-nation visa to lure moneyed tourists
The facility is meant to ensure seamless mobility for travelers among the six neighboring countries.
BUSINESS
Vishal Mega Mart said to pick Kotak, ICICI for mega IPO
Vishal Mega Mart chose Kotak Mahindra Bank Ltd. and ICICI Bank Ltd to help arrange a share sale as early as in the fourth quarter of this year, the people said, asking not to be identified because the deliberations are private.
BUSINESS
Mark Zuckerberg’s wealth exceeds Elon Musk’s for the first time since 2020
Elon Musk, who ranked first on the Bloomberg Billionaires Index as recently as early March, fell to fourth after Reuters reported Tesla Inc. had canceled plans for a less-expensive car, sending shares lower
INDIA
India’s hot summer creates winners in its pricey stock market
The coming months will also see hundreds of millions of voters attend campaign rallies and head to the polls in a parliamentary election that lasts for weeks starting mid-April.
