BUSINESS
Larry Ellison overtakes Zuckerberg as world’s second-richest person
More than 80% of Ellison’s wealth is in the form of Oracle stock and options.
BUSINESS
Trump says drug tariffs probable by August 1, downplays more deals
At a Cabinet meeting earlier this month, Trump said he expected pharmaceutical tariffs to grow as high as 200% after giving companies a year to bring manufacturing back to the US.
BUSINESS
Asian stocks decline as Fed rate cut bets wane
The MSCI regional gauge dropped 0.4% with losses in Australia, Japan and South Korea.
BUSINESS
Renault cuts margin outlook, names CFO Duncan Minto interim CEO
Minto is taking over from Luca de Meo, who is leaving for Gucci owner Kering SA
BUSINESS
Bitcoin chases American dream in norm-shattering mortgage push
If crypto is eventually allowed to count toward mortgage eligibility without being liquidated, borrowers could retain their tokens instead of converting them to meet reserve requirements
WORLD
'Absolutely. If you can...': Zelenskiy's response to Trump on whether Ukraine can hit Moscow
Details of the alleged conversation emerged a day after Trump pledged fresh weapons supplies to Kyiv that would be paid for by European allies
WORLD
US core CPI rises less than expected again on drop in car prices
The consumer price index, excluding the often volatile food and energy categories, increased 0.2% from May. On an annual basis, it advanced 2.9%
BUSINESS
Executive Centre said to seek Rs 2,600 crore million for India IPO
The flexible workspace manager has hired Kotak Mahindra Capital Co. and ICICI Securities Ltd. to arrange the listing
BUSINESS
Indira IVF said to revive India IPO that may raise Rs 3,500 crore
The company, backed by private equity firm EQT AB, plans to submit the so-called draft red herring prospectus later this month
WORLD
Americans’ new tax rates depend on who they are and what they do
The new $3.4 trillion fiscal package multiplies the categories of people and economic activity getting favored treatment
BUSINESS
SMFG said to eye $1.1-billion additional investment in Yes Bank
SMFG may also buy about $680 million in convertible bonds issued by Yes Bank to help boost growth
BUSINESS
Rio Tinto names iron ore boss Simon Trott as miner’s new CEO
Trott, 50, takes on the role after Rio sought a leader with more mining experience to focus on portfolio growth. Rio has many expansions in the pipeline, including a $13 billion splurge on iron ore, a range of new lithium projects, and plans to keep growing in copper.
WORLD
Xi Jinping urges 'new model' for China urban development in rare meeting
Ahead of the official readout, there has been growing speculation of a meeting reminiscent of a 2015 campaign that was then used to boost home-buying demand and galvanize domestic investment
BUSINESS
Nvidia to resume H20 chip sales to China in surprise US reversal
Nasdaq futures surged after Nvidia’s announcement, with Hong Kong and Chinese stocks also reacting positively
BUSINESS
China’s economy grows 5.2% as factories offset weak consumption
China's Q2 GDP: The urban jobless rate was 5% in June, unchanged from the previous month
BUSINESS
Tesla's long-awaited India debut bets on luxury vehicle buyers
A 4,000-square-foot space in Mumbai’s posh financial district of Bandra Kurla Complex will open its doors on Tuesday.
BUSINESS
Luxury development boom stokes jump in Indian real-estate shares
Investors are betting on a turnaround in India’s property market with developers set to report a record 447 billion rupees ($5.2 billion) in pre-sales in the first quarter, according to a July 7 report from Kotak Institutional Equities.
BUSINESS
Asian shares waver, Japanese bond yields rise
The MSCI Asia Pacific gauge dipped 0.1% amid declines in Japan and South Korea.
BUSINESS
Apple faces calls to reboot AI strategy with shares slumping
Apple shares have fallen 16% this year while traders bid up the shares of peers like Meta Platforms Inc., which is spending lavishly on AI
WORLD
Elon Musk turns to Tesla and SpaceX to fuel his AI ambitions
The billionaire on Sunday said he plans to hold a vote by Tesla Inc. shareholders on whether the EV maker should invest in xAI
BUSINESS
Citigroup’s India commercial banking chief Bhanu Vohra exits
Vohra is now on gardening leave and is exploring other career opportunities
BUSINESS
Astra says potential blockbuster reduced high blood pressure
Patients in a late-stage trial received one of two different doses of Baxdrostat or a placebo drug once a day, the drugmaker said
BUSINESS
China's imports of Iran crude at three-month high, Vortexa says
Imports rose sharply to over 1.7 million barrels a day last month, compared with 1.1 million in May, the analytics firm said in a note.
BUSINESS
China emerges from trade chaos with record exports and surplus
Exports rose 5.8% in June from a year earlier to $325 billion, exceeding the median estimate in a Bloomberg survey of analysts.
