BUSINESS
India plans to restrict wheat exports after record heat damages crop
The South Asian nation experienced its hottest March on record, shriveling the wheat crop that the world was relying on to alleviate a global shortage. To safeguard domestic supplies, the government is considering limiting wheat exports.
MARKETS
RBI Governor to make unscheduled statement, spurring hike talk
Governor Shaktikanta Das will address the public at 2 p.m. local time via You Tube, the central bank’s official Twitter account said
COMMODITIES
OPEC fails to increase oil output amid capacity troubles
While Iraq made a substantial boost, countries such as Libya and Nigeria saw their production fall amid operational disruptions and diminished investment, according to a Bloomberg survey
ENVIRONMENT
Methane is a big climate problem that Bitcoin can help solve
The digital currency consumes a lot of electricity, but one startup is showing how its unique properties can help transition the world to cleaner energy
TECHNOLOGY
China's tech companies get a temporary reprieve, not a pardon
Greater clarity and the promise of growth are positive signs, but the shadow of the crackdown lingers
ENVIRONMENT
India's heatwaves are testing the limits of human survival
Each summer in India is a fresh roll of the dice on whether a freak event will occur that leads to a vast number of deaths
BUSINESS
China's Evergrande update: Investors readjust Junk exposure
China’s property shares rallied after government officials showed further signs of support, but analysts say the gains may not extend unless more specific steps are taken to fix the sector’s sagging fundamentals
MARKETS
US Fed traders seek an answer to the 75-basis-point question
The US central bank is expected to raise rates by 50 basis points at this meeting, something it hasn’t done since May 2000. But there might still be room for even more hawkishness, depending on how Powell navigates his upcoming press conference
SCIENCE
You won't ruin a kid's growth mindset by saying 'good job'
Praising children’s effort, not their outcome or ability, has become a parenting rule. It’s a sign of data-driven advice going too far
BUSINESS
Morgan Stanley raided in Frankfurt in tax fraud investigation
Morgan Stanley confirmed that its premises were targeted and said the investigation relates to a “historic activity” and that the bank is “continuing to cooperate with the German authorities”
ECONOMY
What will the Federal Reserve do at its meeting this week?
The central bank must make progress on four critical issues to regain credibility and stabilize the economy
MARKETS
Citi trader made error behind flash crash in Europe stocks
A trader at the US firm made a mistake “inputting a transaction,” Citigroup said late last night, after a knee-jerk selloff in Swedish stocks in five minutes wreaked havoc in bourses from Paris to Warsaw
ECONOMY
US dollar's hideous strength threatens global growth
The US currency’s rapid rise will make it harder for other countries to curb inflation
BUSINESS
Heat to scorch India’s wheat supplies, adding food-shortage worries to world
The food and commerce minister predicted that India will export as much as 15 million tons of wheat this fiscal year, a record high and double what it shipped last year. The scorching heat has thrown that into doubt.
BUSINESS
Germany to woo India with G-7 invite in bid to isolate Putin
Germany, which currently holds the rotating G-7 presidency, will also welcome the leaders of Indonesia, South Africa and Senegal to the gathering in the Bavarian Alps June 26 to June 28, said people with knowledge of the matter
COMMODITIES
Soaring pump prices weigh on growth in India retail fuel sales
A jump in prices has seen growth stall in India’s sales of gasoline and diesel
BUSINESS
Deutsche Bank AGM shouldn’t absolve leaders, advisor says
Proxy adviser Glass Lewis listed probes against Deutsche Bank’s asset manager DWS Group and an unidentified management board member in connection with a tax evasion scheme known as Cum-Ex, according to a report published on Sunday
BUSINESS
China contagion threatens to derail the world’s emerging markets
China’s slowdown will compound the challenging outlook for emerging economies facing soaring energy prices and tighter monetary policy from the major central banks, said an economist.
BUSINESS
Green fix to replace Russian gas is stymied by Europe’s red tape
Russia’s biggest buyer of gas is Germany, where the government vowed to accelerate green-energy development through measures such as increasing the areas available for solar parks, expanding electric grids and adding wind farms at sea
ECONOMY
Singapore says world could face recession in next two years
Singapore’s central bank said last week it expects global growth to moderate to 3.9 percent in 2022 from 5.4 percent last year as inflation reaches its fastest in 14 years
BUSINESS
Buffett is back with one of his biggest buying sprees in years
The conglomerate made roughly $41 billion of net purchases in the first quarter, including a boost to its Chevron Corp stake that vaulted the investment into Berkshire’s top four common stock holdings
ECONOMY
Powell takes lead in round of rate hikes around the world: Eco Week
In a week that’s likely to be marked by a global round of rate hikes, Fed officials are expected to raise their benchmark on Wednesday, and may also announce they’ll start letting the central bank’s bloated balance sheet start to shrink
WORLD
Shanghai new Covid cases kept to quarantine areas for second day
Beijing, which recently detected infections that were spread in the community, found 59 new cases on Saturday, up from 54 the previous day, according to city authorities
BUSINESS
Oil rides longest monthly winning streak since early 2018
Crude is rallying with demand concerns perceived to be short-term while supply concerns are persistent, said Rebecca Babin, senior energy trader at CIBC Private Wealth Management
