WORLD
EV battery race is the 21st century moonshot: US Lawmaker
“Winning the battery manufacturing race for electric vehicles is the moonshot of the 21st century,” Representative Haley Stevens, a Michigan Democrat, said in an interview.
WORLD
SoftBank to shift to ‘offense’ in investments, CEO Masayoshi Son says
An early champion of investing in artificial intelligence, Son the previous day told shareholders at Japanese telecom unit SoftBank Corp. how happy he was about growing public awareness about AI’s potential.
WORLD
The best restaurant in the world is central in Lima
The No. 2 restaurant is Disfrutar in Barcelona, run by chefs Oriol Castro, Mateu Casañas and Eduard Xatruch, who are all alumni of the famed El Bulli which features mind-bending dishes like a gazpacho “sandwich.”
BUSINESS
Paytm leads $6 billion rally as startups seek redemption
Food delivery platform Zomato Ltd. and Policybazaar operator PB Fintech Ltd. have surged 28% and 47%, respectively, adding over $1 billion each to their market valuations.
INDIA
PM Modi looks to solidify India’s tech ambition with US state visit
The trip will be a high-profile affair, complete with a banquet at the White House and an address to the US Congress, making Modi the first Indian prime minister to speak in front of the legislature twice.
WORLD
Singapore’s Grab plans biggest job-cut round since pandemic
The reductions are set to be announced as soon as this week and are likely to surpass a 2020 round that shrank staff by 5%, or about 360 employees, according to people familiar with the matter.
BUSINESS
Google seeks suppliers to move some Pixel production to India
Global tech giants are eyeing India as a manufacturing hub, shifting away from China after strict COVID-related restrictions hindered production in the country.
WORLD
Carlos Ghosn sues Nissan for $1 billion in damages over ouster
The former auto executive, who forged Nissan’s carmaking alliance with Renault SA and Mitsubishi Motors Corp., filed his claims with the public prosecutor in the Court of Cassation in Lebanon, where he has lived since his dramatic escape from Japan in late 2019 to flee trial.
WORLD
These are world’s most expensive cities for high-class living
The city-state, ranked fifth in 2022, leapfrogged ahead of Shanghai and Hong Kong, which are in second and third spots respectively, according to a report by Swiss wealth manager Julius Baer Group Ltd.
WORLD
Masayoshi Son’s first public appearance in seven months at SoftBank
The debt-laden Tokyo-based conglomerate is hosting the meeting in person for the first time in four years. Son is scheduled to break a months-long silence after the billionaire bid adieu to earnings calls amid mounting losses to focus on taking Arm Ltd. public.
WORLD
Vanishing Himalayan glaciers threaten a quarter of humanity
These mountain ranges, which stretch over 3,500 kilometers (2,175 miles) in length from Afghanistan in the west to Myanmar in the east, are also seeing a shrinking permafrost that can trigger more landslides, the study said. The Nepal-based ICIMOD has eight member nations across Asia including China and India.
BUSINESS
Mankind Pharma draws buy calls on 57% jump since IPO
The company’s stock has surged 57% since listing, driving its market value to more than $8 billion. It has already drawn nine buy ratings and one hold recommendation.
BUSINESS
KKR shuffles Asia buyout team after $15 billion fund raise
Gaurav Trehan will be elevated to sole head of private equity for Asia-Pacific, in addition to his role as head of India. KKR has deployed $5 billion in the market since he joined in 2020, making India one of the firm’s largest and most active markets in Asia, the letter explained.
WORLD
Warren Buffett raises stake in five Japanese trading houses
Berkshire holds stakes in Itochu Corp., Marubeni Corp., Mitsubishi Corp., Mitsui & Co., and Sumitomo Corp., the US insurer said in a release on Monday. Buffett, the chairman of Berkshire, said in April that the firm would boost stakes in the Japanese companies, prompting their stock prices to rise to record highs.
BUSINESS
Aircraft mega-deals prompt bubble warning from industry veterans
The industry’s newfound swagger was on full display Monday, when Indigo agreed to buy 500 Airbus SE jets, eclipsing a record set only months ago by Air India.
BUSINESS
Akasa Air in talks for follow-on Boeing jet order
The US planemaker is reportedly working to finalize negotiations as soon as this week at the Paris Air Show
INDIA
Cough syrup suspected of killing 12 kids in Cameroon might be Made in India
Photographs of a box of Naturcold medication show a manufacturing license number matching that of Riemann Labs Pvt. Ltd., based in Indore in the Indian state of Madhya Pradesh. The photos, provided by Eko Eko Filbert, a regional health official in Cameroon, don’t show a manufacturer’s name.
WORLD
Bangladesh floats currency for first time to get more IMF funds
While Bangladesh is not heavily indebted, it joins several such countries in loosening a tight grip on local currencies in order to get financing from the Washington-based lender. Pakistan, Egypt and Lebanon were among those that have dropped their fixed exchange rates this year.
WORLD
Danone pins turnaround hopes on AI
At a new Danone facility near Paris, researchers feed dollops of yogurt into globular glass vessels and plastic tubes designed to mimic the human gut. Once the bacteria inside show they can survive the digestive juices, artificial intelligence is put to work to probe their potential health benefits.
WORLD
Cancer warnings on Beer, Wine in Ireland spark alarm
The US and Mexico have raised concerns over the legislation ahead of World Trade Organization committee meetings this week. Argentina, Australia, Chile, Cuba and New Zealand have also expressed reservations about the law, which Ireland passed last month.
WORLD
Top stock Picker scouts AI fringes to beat 97% of peers
Fairlight Asset Management’s Nick Cregan invests in companies he believes will be enhanced by AI or well protected from its implications. It’s a conviction that’s helped propel his Fairlight Global Small & Mid Cap fund up 24% over the past year, beating 97% of peers, according to data compiled by Bloomberg.
WORLD
Boeing sees $8 trillion jet market as climate reshapes travel
The US planemaker’s latest tally of industrywide deliveries over the next 20 years takes into account growing activism over jet emissions, said Darren Hulst, a Boeing vice president of marketing.
BUSINESS
Airbus set for splashy Paris debut with 500-jet IndiGo order
The proposed order, which would double the airline’s existing backlog, is for A320neo family aircraft, according to people familiar with the negotiations. IndiGo and Airbus are moving to announce the accord as early as Monday, said the people, asking not to be identified because the talks are private.
BUSINESS
Airbus set for splashy Paris debut with 500-jet IndiGo order
The proposed order, which would double the airline’s existing backlog, is for A320neo family aircraft, according to people familiar with the negotiations.
