BUSINESS
Gold set for worst week in 4 decades as Iran war curbs rate-cut bets
Bullion slipped as much as 2.1% as the dollar and bond yields rallied after a Wall Street Journal report that the Pentagon is sending three warships and thousands of additional Marines to the Middle East
MARKETS
US stocks, bonds fall as Iran war shows no signs of easing
The S&P 500 fell about 1%, set for its the longest weekly slide in a year.
WORLD
Trump, Takaichi unveil $40 billion US nuclear project
The reactor deal is the latest from the $550 billion fund that the US and Japan agreed to as part of an agreement that saw Trump lower auto tariffs and other levies.
BUSINESS
Super Micro co-founder charged with smuggling chips to China
The indictment marks the biggest chip smuggling case US prosecutors have pursued since first restricting Nvidia shipments to China in 2022.
WORLD
Russia plans to allow military to defend citizens prosecuted abroad
The threat of military force could give Moscow another tool to pressure governments abroad.
WORLD
Swiss ban arms exports to US during Iran war over neutrality
Switzerland’s strict neutrality rules have already led it to close its airspace for US military flights directly linked to the Iran war.
BUSINESS
Bank of family that lent to popes and emperors may be for sale
The private bank manages almost €7 billion ($8 billion) of assets, mostly from high-net-worth clients and via a network of intermediaries. VIG currently values the bank at about €120 million.
WORLD
Iran strike to cost QatarEnergy $20 billion a year in sales
The missile strikes on Ras Laffan Industrial City damaged QatarEnergy’s Trains 4 and 6, which represent a combined 12.8 million tons of annual production capacity, the company said in a statement Thursday.
BUSINESS
Alibaba targets $100 billion of AI revenue in 5 years
MARKETS
Asian stocks edge higher at open as oil retreats
The MSCI Asia Pacific Index rose 0.3% after losing 2.6% in the last session, when strikes on energy assets in the Middle East stoked concerns of a prolonged economic impact from the war.
WORLD
How weeks of Iran war are reshaping the global gas market for years to come
Three weeks of conflict in the Middle East have upended the entire energy supply chain
WORLD
Trump references Pearl Harbor as Iran war tests US-Japan alliance
“Who knows better about surprise than Japan?” Trump said, turning to Takaichi with a chuckle. “Why didn’t you tell me about Pearl Harbor?”
MARKETS
US bonds and stocks sell off as crude oil rally extends
The yield on two-year Treasuries climbed as much as 18 basis points to 3.95% before paring the move
BUSINESS
Gold and silver plunge as Iran war damps rate-cut hopes
Gold slid as much as 6%, on track for its longest losing streak since 2023
BUSINESS
RBI’s rupee defence nears $100 billion as currency hits record low
Even before the conflict broke out, the RBI was already heavily intervening to steady the rupee for months as high US tariffs spurred record equity outflows.
BUSINESS
Morgan Stanley says sell Asian stock rally on Iran war impact
Surging oil prices due to the Iran war is weighing on the economies of net energy importers, which are predominantly located in Asia.
WORLD
Ozempic and Wegovy may do more than cut weight: New study links them to better mental health
Semaglutide, the main ingredient in both drugs, was linked to a 44% lower risk of worsening depression.
BUSINESS
Oil-driven inflation fears are reshaping Asian bond yield curves
The faster rise in medium-term yields compared with long-term ones has squeezed the gap between them this month, bear-flattening the bond curve.
BUSINESS
HSBC mulls deep job cuts from multiyear AI-fueled overhaul
The changes could ultimately impact around 20,000 roles, or about 10% of its total workforce
BUSINESS
Gold tumbles as Jerome Powell’s inflation concerns dash easing bets
While bullion has been weighed down in recent weeks over concerns that rates will stay steady, gold is still up more than 10% this year.
WORLD
US aims to curb soaring oil prices as Iran vows more retaliation
As military operations showed little signs of abating, Brent crude prices neared $110 a barrel
BUSINESS
EU moves to ban AI that creates nonconsensual sexual images
The ban wouldn’t apply if a company has imposed measures restricting the creation of such deepfakes.
INDIA
India sends additional warships near Gulf of Oman to escort its fuel ships
The Indian Navy is deploying over half a dozen warships, including logistics vessels to the area as a precautionary measure
WORLD
‘EU Inc.’ plan seeks to spur startups to rival US, China
The linchpin of the European Commission’s proposal is a set of measures to allow firms to incorporate once under a single EU-wide regime and operate seamlessly across the 27-member bloc.
