BUSINESS
India will need to build 100 million homes this decade amid rising household incomes
Narendra Modi, who was sworn in as India’s prime minister for a third straight term on Sunday, has vowed to continue pushing growth especially in the housing and infrastructure sectors.
BUSINESS
Haldiram's explores IPO as stake sale plans stall: Report
The Agarwal family is considering a listing as bids in the region of $8 billion to $8.5 billion didn’t meet its valuation expectations of about $12 billion, according to the people, who asked not to be identified discussing private information.
WORLD
EV slowdown steers the world further off course from net zero
In its annual Electric Vehicle Outlook, BNEF reduced its battery-electric sales projections by 6.7 million vehicles through 2026.
BUSINESS
India’s stock rebound from election upset is fastest in a decade
The benchmark NSE Nifty 50 Index sank almost 6% on June 4 after Prime Minister Narendra Modi’s alliance won a surprisingly slim majority, only to recoup the loss in the next three sessions. That’s the fastest recovery from a drop of more than 5% in the last decade.
INDIA
Insurance helped 46,000 Indian women avoid deadly work during heat waves
For 40-year-old Lataben Arvindbhai Makwana, it was too unbearable to run her sewing machine inside her tin-roofed house, which has little ventilation and only a small ceiling fan. As a daily wage laborer, that meant she was not earning the money she needed to feed her kids and buy blood pressure medication for herself.
BUSINESS
Byju’s hedge fund ally can avoid arrest if he answers questions
US Bankruptcy Judge John Dorsey, during a court hearing Tuesday in Wilmington, Delaware, agreed to drop an arrest order for William C. Morton, the founder of Camshaft Fund. Byju’s invested $533 million of loan proceeds with the fund last year, according to court records.
BUSINESS
Hinduja scion in Swiss human-trafficking trial says Nanny was like a ‘Second Mum’ to family
Ajay Hinduja was testifying on the first day of the Geneva trial of a branch of one of India’s most prominent families, which stands accused of human trafficking and overworking household staff.
WORLD
Fed faces dot-plot cliffhanger as May inflation report looms
Disappointing inflation data since the projections were last updated in March are almost certain to prompt a downgrade to the number of rate cuts envisioned for this year.
BUSINESS
British PC maker Raspberry Pi soars in London trading debut
The stock gained as much as 40% from the pricing of its £166 million ($211 million) IPO, before paring gains.
BUSINESS
Pimco warns of more US Regional Bank failures on property pain
Contrary to some market expectations, larger banks have been disposing of some of their higher quality assets first to avoid deeper losses, according to Murray
BUSINESS
Cube Highways to raise up to Rs 2,000 crore for toll roads
The company is working with advisers and may raise the capital via private placement in the next two months, the people said
BUSINESS
Bond traders will follow new Fed dots all the way into 2025
Treasuries inched higher on Tuesday as investors look to parse policymakers’ latest quarterly economic and interest rate projections — known as the dot plot — on Wednesday.
TECHNOLOGY
Tesla’s investor vote on Elon Musk’s pay package won’t get him his money
The carmaker is banking on the Delaware Supreme Court, which will hear any appeal of McCormick’s ruling, taking a favorable view of investors re-ratifying the deal.
BUSINESS
Singapore ramps up scrutiny of family offices, hedge funds
Family offices that have been granted tax exemptions were given new forms asking for greater detail in May and told to submit the information by the end of June.
BUSINESS
Canadian investor inspired by Warren Buffett sinks after founder sells
The company lost about C$80 million in market capitalization by the end of trading in Toronto on Monday, with trading volumes more than five times the three-month average.
BUSINESS
Top vaccine maker Serum Institute sees demand doubling in five years
The world’s largest vaccine maker currently has the capacity to produce 3 billion doses of all types of vaccines each year, but only sells about 1.5 billion doses annually. The Pune-based firm is forecasting that will change.
TECHNOLOGY
Musk to ban Apple devices if OpenAI is integrated into OS
“If Apple integrates OpenAI at the OS level, then Apple devices will be banned at my companies,” Musk wrote on X, the social network that he owns. “That is an unacceptable security violation.”
WORLD
Dubai takes on Abu Dhabi in race for supremacy in family offices
“Every Tom, Dick and Harry around the world is trying to come here,” said Ryan Lemand, co-founder and chief executive officer of Abu Dhabi-based Neovision Wealth Management. “It’s like the gold rush.”
BUSINESS
Julius Baer targets rich Indians in Dubai with UBS, JPMorgan hires
Sanjay Advani has joined from UBS as a managing director and team head of Julius Baer’s global non-resident Indians business in the emirate, according to a statement. Nisar Sindhi, previously at JPMorgan, has been named managing director and senior adviser.
WORLD
EM traders flock to local debt as election shocks upend FX bets
Ashmore Plc and Ninety One are among those adding to positions in local debt, particularly in frontier markets.
BUSINESS
Cheaper Indian rupee boosting its lure as carry trade: Bank of America
The rupee has become one of the least volatile currencies in emerging markets, aided by a long interest-rate pause by the Reserve Bank of India and record foreign exchange reserves.
BUSINESS
Fed dot plot is set to offer glimpse of rate-cut resolve
Investors are anticipating insights into the Federal Reserve's monetary policy stance as US policymakers release their interest rate forecasts on Wednesday, the first update in three months. While Chair Jerome Powell is expected to maintain borrowing costs, uncertainty remains regarding officials' rate projections.
BUSINESS
Nvidia hitting $3 trillion propels Jensen Huang’s wealth above Michael Dell’s
Dell, 59, with a net worth of $105.9 billion, has been a computer hardware-industry outlier among the tech super-rich, who often owe their wealth to software companies
BUSINESS
Here’s what India’s top money managers are buying post elections
The asset manager remains bullish on domestic cyclicals, including automobiles, cement, and capital goods
