WORLD
US Supreme Court rejects student appeal on ‘two genders’ shirt
The rebuff comes as the court deliberates over another case affecting transgender Americans
WORLD
Trump to end federal contracts with Harvard University
The letter asks agencies to report on their “actions or intended actions with respect to each referenced contract” by June 6.
WORLD
Norway wealth fund chief tells staff that using AI is a must
AI is rapidly becoming a prerequisite for performance in the asset management industry as investment firms race to boost efficiency, cut costs
WORLD
HSBC cuts dozens of analyst jobs in investment banking overhaul
As part of the changes, the London-based bank is combining macro strategy across asset classes including foreign exchange and fixed income
MARKETS
NSE's valuation jumps 60% to $58 billion ahead of IPO
Wealthy investors and institutions anticipating an initial public offering as early this year have been buying the unlisted shares aggressively
BUSINESS
HDFC Bank’s HDB Financial nears SEBI approval for $1.5 billion IPO
At $1.5 billion, it would be the country’s largest IPO ever for a shadow bank and the biggest one among all sectors since Hyundai Motor India Ltd.’s $3.3 billion deal last year.
BUSINESS
NSE plans to seek Tuesday expiry for derivatives contracts
The NSE could submit its application for all weekly and monthly contracts as early as Tuesday, the person said, asking not to be identified as the deliberations are private. At present, BSE uses Tuesday, while NSE has traditionally settled contracts on Thursday.
BUSINESS
Asian shares start cautiously, dollar edges down
The MSCI Asia Pacific Index fluctuated between small gains and losses.
WORLD
Trump threatens to send Harvard grant money to trade schools
The Trump administration has already moved to freeze funding and block Harvard’s ability to enroll international students
BUSINESS
JSW Steel’s pathway to Mozambique coal deal reopens
JSW Steel Ltd.’s $74 million deal to buy Minas de Revuboe — announced a year ago — ran into trouble when the administration of then-President Filipe Jacinto Nyusi revoked the local company’s mining lease
BUSINESS
Volvo car plans to cut 3,000 jobs after profit plunge
Volvo will incur restructuring costs of as much as 1.5 billion Swedish kronor ($140 million) that will impact the company’s second-quarter results
INDIA
India debuts new weather model to help farming, flood planning
India is hoping that a new weather model can significantly help boost its capabilities by forecasting at a resolution of roughly 6 kilometers (3.7 miles), doubling the level of detail previously possible
INDIA
Oil spill spotted after Liberian ship sinks off Kerala's coast
The Liberian-flagged MSC ELSA 3 was carrying hazardous cargo in 13 containers, 12 containers of calcium carbide as well as hundreds of tons of fuel in its tanks
BUSINESS
Chinese EV stocks tumble after BYD slashes prices up to 35%
Shares of China’s No. 1 selling car brand tumbled as much as 8.3%, while peers Li Auto Inc., Great Wall Motor Co. and Geely Automobile Holdings Ltd. dropped more than 5% amid investor concern about intensifying competition in the sector.
BUSINESS
Chinese EV stocks tumble after BYD slashes prices up to 35%
Citi estimated that after the weekend’s discounts, BYD dealership traffic may have surged between 30% to 40% week-on-week.
BUSINESS
Asian shares, US futures rise on EU tariff delay
Contracts for the S&P 500, Nasdaq 100 and Euro Stoxx 50 rose about 1% after Trump said he had agreed to delay the date for a 50% tariff on goods from the European Union to July 9 from June 1.
BUSINESS
Trump extends deadline for 50% tariffs on EU goods to July 9
Trump on Friday threatened to impose a higher, 50% tariff on the EU starting June 1 after complaining the bloc was slow-walking negotiations and unfairly targeting US companies with lawsuits and regulations.
WORLD
Softbank’s Son floats idea of US-Japan sovereign wealth fund: Report
Son has discussed the plan with US Treasury Secretary Scott Bessent, although it hasn’t been formally proposed, the report said
WORLD
Trade war's impact, key growth indicators: How global economy will shape up next week
US trade-policy fingerprints are expected to become more apparent as soon as next month, according to many economists
WORLD
Sergey Brin’s mystery $700 million stock gift went to philanthropies
The largest portion of Brin’s gift went to Catalyst4, a nonprofit which Brin started in 2021
WORLD
Shravin Bharti Mittal, heir to $27 billion Bharti fortune, joins Britain’s wealth exodus
The move shows how some of the world’s richest millennials are joining their older counterparts in exiting the UK after it introduced sweeping tax reforms
WORLD
US importers pay record $16.5 billion as April tariff bill lands
That revenue, disclosed in Treasury Department data released Friday, reflects the full impact of President Donald Trump’s new universal tariffs for the first time.
WORLD
Trump shocks with US Steel-Nippon approval but details elusive
Trump stopped short of explicitly endorsing Nippon Steel’s earlier proposed $14.1 billion takeover of US Steel
BUSINESS
BYD beats Tesla in Europe for the first time with 169% surge
Tesla continued to slump despite accelerating growth in Europe’s EV segment.
