BUSINESS
Dollar slips as Trump considers naming next Fed chair early
The latest headlines on Powell add another element of risk to the dollar and US Treasuries, which are both already under pressure from uncertainties around the impact of tariffs and a ballooning fiscal deficit.
WORLD
Pentagon posts document with fiscal year 2026 weapons requests
The procurement request, which represents funds for weapons purchases, totals $205 billion or about $31 billion more than what Congress appropriated for this fiscal year
BUSINESS
Asian shares rise on boost from Japanese stocks
MSCI’s gauge of Asia-Pacific shares advanced 0.3% as the Topix gained, while Australian equities fell. Contracts for US stocks opened flat after the S&P 500 ended Wednesday unchanged.
BUSINESS
Trump says three or four people on list to replace US Fed’s Jerome Powell
Trump did not name his potential replacements for the central banker nor did he lay out a timeline for a decision. Powell’s term as chair ends in May 2026
BUSINESS
Vodafone Idea aims for $2.9 billion in loans to bolster network: Report
The State Bank of India will likely lead a consortium of lenders
BUSINESS
EU warns a baseline Trump tariff would still spur retaliation
EU officials expect the US to keep some duties in place, even after trade negotiations are concluded
BUSINESS
China vows 'forceful measures' after Taiwan's Huawei export curb
Taiwan last week joined a years-long US campaign to curtail China’s technological ascent by adding the country’s AI and chipmaking champions — Huawei and Semiconductor Manufacturing International Corp. — to its entity list
BUSINESS
China seizes moment to globalise yuan as dollar doubts mount
The latest measures aim to not just facilitate trade but also open China’s financial markets and embed the yuan more deeply in investment flows
BUSINESS
Asia stocks muted after rallying on Middle East truce
MSCI’s gauge for Asian equities was little changed on Wednesday following a more than 2% rise in the previous session, when US President Donald Trump announced a ceasefire between the Middle East rivals.
WORLD
Jerome Powell says higher inflation outlook keeping US Fed on hold for now
Powell’s remarks before the House Financial Services Committee come on the heels of the Fed’s decision last week to leave interest rates unchanged in a range of 4.25%-4.5%
MARKETS
RBI signals policy shift with move to drain excess cash
RBI aims to take out Rs 1 trillion from the banking system via a seven-day variable rate reverse repurchase auction on June 27
WORLD
Pressure for Trump trade deals ramps up with two weeks to go
There’s a lot at stake: As of July 9, exporting nations without a bilateral accord in place will face Trump’s so-called “Liberation Day” tariffs
BUSINESS
US stocks head toward record as geopolitics fail to derail rally
Equities have been remarkably resilient over the past two months as the S&P 500 bounced sharply from April lows, putting it 2% away from its record high.
INDIA
Mumbai housing most affordable in 15 years, says Knight Frank
An average household in Mumbai spent 48% of their income toward monthly installments of a home loan, versus 50% last year
BUSINESS
OpenAI is nabbing Microsoft customers, fueling partners’ rivalry
The behind-the-scenes dogfight is complicating an already fraught relationship between Microsoft and OpenAI
BUSINESS
Pressure to seal Trump trade deals ramps up with two weeks to go
As of July 9, exporting nations without a bilateral accord in place will face Trump’s so-called 'Liberation Day' tariffs that are much higher than the current baseline 10% level applied to most countries.
WORLD
NATO cash bonanza risks becoming Europe’s lost chance for growth
As this week’s NATO summit brings that wave of money one step closer to reality, the prospect that so much taxpayer cash could just leak out of the region’s economy without meaningfully helping expansion is casting a shadow over politicians’ ambitions to shore up creaking defenses against Russia
BUSINESS
Pressure to seal Trump trade deals ramps up with two weeks to go
Only the UK has secured something on paper, though that pact kept the 10% so-called reciprocal rate in place and left unresolved one of Britain’s pain points — 25% steel duties
BUSINESS
Oil falls over 5%, global stocks rise on Israel-Iran truce
Brent crude slid as much as 5.6% to drop below the level of June 12, the day before Israel started attacking Iran’s nuclear sites.
WORLD
Trump thanks Iran after attack choreographed to de-escalate
BUSINESS
Oil drops, stocks gain on Trump’s ceasefire talk
The Middle East accounts for about a third of global crude production and there haven’t yet been any signs of disruption to physical oil flows, including for cargoes going through the Strait of Hormuz.
BUSINESS
Warburg Pincus said to be in talks to sell stake in SBI General Insurance
Premji Invest and New York-based Warburg Pincus agreed to buy 16.01% and 9.99% of SBI General Insurance, respectively, in 2019 from Insurance Australia Group Ltd. in a transaction that was completed in 2020.
WORLD
Oman plans income tax on top earners in a first for Gulf states
Oman has been enacting fiscal reforms as part of its economic diversification to reduce its reliance on the oil, an objective it shares with other Gulf countries
BUSINESS
Air India crash risks fueling up to 30% jump in insurance premiums
In the wake of a crash in South Korea last year that left all but two of the 181 passengers dead, premium increases were in the range of 15% to 18%, according to a UK-based reinsurer
