WORLD
Donald Trump tells UK’s Keir Starmer North Sea oil taxes are too high
As the UK shifts to greener energy such as renewables and nuclear, and away from fossil fuels, Starmer’s Labour government has said it won’t issue new licenses for North Sea oil and gas extraction, though it will honor existing ones.
WORLD
Kremlin is silent on new Trump deadline Russia is likely to snub
The US president threatened Monday to impose sanctions within 10-12 days on countries buying Russian exports including energy unless Putin accepts a ceasefire, instead of the 50 days he announced earlier this month
WORLD
HSBC asks managing directors to work in office four days a week
Five years after the global pandemic fueled an unprecedented boom in remote work, bank executives have become ever more vocal in their insistence that workers should return to the office
BUSINESS
Fidelity says $4,000 gold possible as Fed cuts, dollar drops
Fidelity’s bullish outlook for gold is similar to that from Goldman Sachs Group Inc., which has made the case in recent quarters for an eventual rally to as much as $4,000 an ounce
INDIA
US needs more negotiations with India for trade deal, says trade representative
Washington needs additional talks to gauge how ambitious India’s government is willing to be to secure a trade agreement, Jamieson Greer said
WORLD
Why world’s biggest passenger planes keep breaking down
Two decades after its maiden flight, regulatory bulletins ordering repairs, inspections or replacement parts for the massive four-engined plane are piling up
MARKETS
Jane Street to argue that retail demand drove its India trades
The trading giant has been working on its defense against market manipulation allegations from the Securities and Exchange Board of India
BUSINESS
P&G names longtime executive Shailesh Jejurikar to replace CEO
Shailesh Jejurikar, 58, who joined the company in 1989, will replace Jon Moeller, according to a statement. Moeller, who was named to the top job about four years ago, will become P&G’s executive chairman, the company said.
BUSINESS
Asian stocks decline as tariff sentiment cools
Meanwhile, US and Chinese officials finished the first of two days of talks aimed at extending their tariff truce beyond a mid-August deadline and hashing out ways to maintain trade ties while safeguarding economic security.
BUSINESS
Tata Sons expects reprieve from forced IPO amid regulator review
The 160-year-old conglomerate, which has been struggling with financial stress fueled by the Covid-19 pandemic, was looking to liquidate its stake in Tata Sons as a crucial step to pare debt.
BUSINESS
Chinese OpenAI challenger Zhipu to unveil new open-source model
The startup will release GLM-4.5, an update to its flagship model, as soon as Monday, according to a person familiar with the plan
BUSINESS
Bangladesh offers to buy Boeing planes to sway Trump on tariffs
The moves are part of Bangladesh’s strategy to narrow a goods trade surplus of around $6 billion with the US.
WORLD
Trump, EU’s Von Der Leyen cite conflicting details on trade deal
The European Union said it would accept a 15% tariff on nearly all its exports to the US. Trump told reporters that the bloc also agreed to open up its “countries to trade at zero tariff.”
WORLD
Pressure mounts on Fed chief Powell in tee up to GDP, jobs data
Fed officials meet Tuesday and Wednesday, and are widely expected to keep rates unchanged again
WORLD
Trump says he could pardon Ghislaine Maxwell but hasn’t thought about it
Trump demurred again at another point during his exchange with journalists, saying it was an ongoing investigation.
BUSINESS
Alphabet’s rise propels CEO Sundar Pichai to $1 billion fortune
Sundar Pichai holds a 0.02% economic stake in the company, worth about $440 million, leaving the bulk of his fortune in cash
WORLD
US jobless claims fall for a sixth week, lowest since mid-April
Initial claims decreased by 4,000 to 217,000 in the week ended July 19, still the lowest since mid-April
WORLD
Trump denies wanting to destroy Elon Musk’s firms
Tesla’s shares pared a drop of as much as 9.5% after Trump’s post to trade down 7.8% as of 10:03 a.m. in New York
BUSINESS
Torrent Power is said to be in talks to buy L&T’s power unit for $1 billion
L&T has been evaluating selling its thermal unit to focus on its core engineering and construction business.
INDIA
India moves to shield power grids from solar equipment malware
India currently has 1.8 million rooftop solar units connected to the grid, ISGF said in a May report.
BUSINESS
Pakistan delegation set to meet Trump administration, US says
The South Asian nation, already the second-largest buyer of US cotton by value after China, has offered to boost imports of the crop as well as soybeans
BUSINESS
Thai baht falls from highest since 2022 on conflict with Cambodia
Sentiment was boosted earlier after Finance Minister Pichai Chunhavajira said on Tuesday the nation is close to an agreement with the US to lower a threatened 36% tariff on its goods ahead of the Aug. 1 deadline, and expects a rate closer in line with regional neighbors.
BUSINESS
Nestle weighs sale of vitamin brands after volumes decline
Revenue rose 2.9% on an organic basis in the first half of the year, in line with analyst estimates. Nestle shares fell 5% in early trading in Zurich
BUSINESS
China’s Chery to supply tech to help India’s JSW launch own EVs
Under an agreement between the two companies, JSW will pay Chery a one-off technology transfer fee and recurring royalties.
