WORLD
Tariff case: Trump administration to seek US Supreme Court intervention on Friday
The administration’s Thursday filing highlights the same arguments that the Trump administration has pressed throughout the case
WORLD
Stock futures jump, Dollar gains on tariff ruling
Asian shares rose and contracts for the S&P 500 and Nasdaq 100 gained 1.6% and 2%. Equities in Japan and South Korea also advanced at the open.
BUSINESS
FX hedging cost drop sparks debate on Asian bond protection bets
Three-month forward implied yields for dollar-won have fallen to around 1.7% this week, the lowest level in more than two years, signaling plummeting hedging costs for South Korean bonds.
WORLD
Israel acknowledges use of laser weapons to intercept drones
The systems were described as a less powerful 'prototype' of the 100-kilowatt Iron Beam laser interceptor that will be operational in Israel by the end of the year
BUSINESS
Nvidia to have final say on strong earnings season for Big Tech
Nvidia, the world’s most valuable chipmaker reports Wednesday after market close - the last of the Big Tech cohort to do so. Results from Microsoft, Meta Platforms and others showed that outlooks remain mostly intact despite uncertainty over Trump’s tariffs.
WORLD
Russia’s fuel exports hit 3-month high on diesel, fuel oil boost
Seaborne shipments of petroleum products totaled 2.23 million barrels a day through May 24
BUSINESS
Raghuram Rajan warns US risks future by curbing foreign students
At the heart of Rajan’s concerns is the ongoing battle between the White House and universities — one that initially centered on elite schools such as Harvard University and Columbia University over antisemitism — but that’s morphed into a larger attack over the role of US higher education.
WORLD
SpaceX Starship rocket explodes in third straight setback
The stakes for Tuesday’s flight were particularly high after flights in January and March were cut short just minutes after takeoff when the spacecraft exploded over the Gulf of Mexico, sending streams of debris raining down from the sky and disrupting air travel.
BUSINESS
Asian shares track Wall Street gains, bonds steady
A regional stock gauge rose 0.4% led by shares in Japan, which jumped more than 1%.
WORLD
US orders halt in student-visa interviews before new vetting
The directive, laid out in a cable sent to diplomats worldwide on Tuesday, marks the latest effort by the administration to restrict foreign students’ entry to American schools
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.
