AUTOMOBILE
BMW, Mercedes vie with BYD-led China rivals at Munich show
The stakes are high. German automakers are grappling with US tariffs, muted sales in Europe and eroding market share in China
MARKETS
Modi-Xi handshake, GST cuts boost case for lagging Indian stocks
Improving trade links with the world’s second-biggest economy add to a string of positives for India, including the prospect of further central bank interest-rate cuts
BUSINESS
Trump exempts gold, tungsten and uranium from global tariffs
Trump’s directive could also speed implementation of bespoke trade deals between the US and other countries, making it easier for Washington to lift tariffs on aircraft parts, generic pharmaceuticals and certain products that can’t be grown, mined or naturally produced domestically — such as specialty spices and coffee, as well as obscure metals.
ARTIFICIAL-INTELLIGENCE
OpenAI says spending to rise to $115 billion through 2029: Information
The company predicted it could spend more than $8 billion this year, roughly $1.5 billion more than an earlier projection, The Information said.
BUSINESS
Tesla offers unprecedented $1 trillion pay package to Elon Musk
The plan dangles a financial windfall and expanded control of the company to Musk, already the world’s richest person, after his 2018 package valued in excess of $50 billion was struck down by a Delaware court
BUSINESS
Asian shares join global rally before US jobs data
The Nikkei-225 index rose by more than 1% after President Donald Trump signed an executive order implementing his trade agreement with Japan.
MARKETS
US stocks and bonds climb before make-or-break jobs report
The latest readings on hiring and unemployment claims came on the eve of what economists expect to mark the weakest stretch of US job growth since the pandemic
WORLD
Armani’s death puts fate of luxury empire in hands of heirs
The Italian patriarch, whose death at age 91 was announced on Thursday, entrusted the future of Giorgio Armani SpA to close family members and associates
MARKETS
Jane Street blindsides SEBI in fight over India trades
While that was always within Jane Street’s rights, the timing caught the Securities and Exchange Board of India off guard
INDIA
India plans $125 billion push to boost high-speed road network
The country will add 17,000 kilometers of access-controlled roads that allow motorists to travel at speeds of up to 120 kilometers per hour
INDIA
India and Singapore deepen AI, chips ties as US tariff risks grow
“These efforts will generate new growth opportunities for both our countries,” Wong said, before the two leaders shared a hug on stage.
CURRENCY
Exporters lobby RBI for weaker Rupee to offset US tariffs
A weaker rupee rate for exporters would be risky for the central bank, though. It could damage broader sentiment toward the currency, which, in turn, could force the central bank to step up intervention in the foreign exchange market, causing a rapid erosion of India’s reserves.
BUSINESS
Asian stocks rise as weak US jobs fuel Fed bets
Australian bonds tracked Wednesday’s moves in Treasuries, with yields on the 10-year declining almost five basis points to 4.37%.
MARKETS
Jane Street’s India revenue shrank before SEBI trading ban
The roughly $500 million haul from India was on pace to total less than half the $2.3 billion Jane Street pulled in from that nation for all of 2024
WORLD
OPEC+ confronts the next stage in battle for oil market share
Saudi Arabia and its partners have yet to decide how to proceed after completing the fast-tracked addition of 2.5 million barrels a day that was finalized at its previous gathering
BUSINESS
Coal India's renewable plan looks at a future beyond coal
The state-owned company sought expressions of interest for the construction of 3 gigawatts of solar and 2 gigawatts of wind projects
BUSINESS
JPMorgan to boost corporate banking in India on investment jump
JPMorgan, which counts India and Japan as its two fastest-growing Asian markets in terms of revenue from corporate banking, expects no let-up in growth despite Washington doubling tariffs on many Indian imports to 50%.
BUSINESS
Asian stocks poised to track Wall Street declines
Equity-index futures pointed to a weaker open in Japan and Australia and a tepid open for Hong Kong. Earlier, the S&P 500 pared losses to close 0.7% lower.
TECHNOLOGY
OpenAI to buy product testing startup Statsig for $1.1 billion
Statsig, founded in 2021, builds tools to help software developers test and flag potential new features
WORLD
US holds back China trade threats as it weighs Russia sanctions
So far the White House has only imposed the tariffs on India over its purchases of Russian crude, but not China
MARKETS
Nvidia’s $340 billion rout drags stock below key technical level
The stock fell as much as 4% to $167.22 on Tuesday, set for a fourth straight negative session and dropping below its 50-day moving average of $171.02
MARKETS
Jane Street’s $10.1 billion trading haul sets Wall Street record
The revenue figure more than doubled from a year earlier, according to people with knowledge of the matter
BUSINESS
Jane Street’s $10.1 billion trading haul sets Wall Street record
A representative for New York-based Jane Street declined to comment on the firm’s results.
INDIA
India challenges high US tariffs on some copper imports at WTO
New Delhi told the WTO that the US tariffs were 'safeguard measures' and not notified by Washington as per the rules of the Geneva-based trade body
