BUSINESS
Byju’s US lenders sue founder, wife, top aide over missing cash
Two US bankruptcy judges have largely sided with the lenders, finding recently that Raveendran’s brother and the company, Think & Learn, better known simply as Byju’s, violated their fiduciary duties by wrongly transferring $533 million away from creditors.
WORLD
China to reduce import of Hollywood films as Donald Trump hikes tariffs
The countermeasure was previously floated by two influential Chinese bloggers, who on Tuesday posted an identical set of steps they said authorities were mulling to hit back at Trump’s earlier tariff threats.
WORLD
EU to put counter tariffs against US on hold for 90 days as Trump announces pause
The EU will move forward with the tariffs that would hit around €21 billion ($23.2 billion) of US goods and then immediately suspend them when they take effect, according to people familiar with the matter, who spoke on the condition of anonymity.
WORLD
Asean deeply concerned by US tariffs, wants good China ties
Trump escalated duties on Asia’s largest economy to 125% with effect from Thursday, with Beijing reciprocating with an 84% tariff on all imports from the US.
WORLD
European stocks surge most since 2020; gold gains
The Stoxx 600 rose more than 7% at open, the biggest intraday gain since 2020, and Asian stocks advanced
TECHNOLOGY
Can AI models run without expensive chips? This Indian startup may have found a way
AI startup Ziroh Labs' framework, called Kompact AI, was developed in partnership with the Indian Institute of Technology, Madras
WORLD
Trump isolates China with tariff pivot, setting up Xi showdown
US tariffs on Chinese imports rose to a record 125% Thursday noon China time while those on dozens of countries were paused
WORLD
Wary Asian officials seek to ensure Trump tariff reprieve sticks
Some — like Vietnam that had been facing a 46% levy, and Japan with a 24% surtax — pressed ahead with efforts to ensure the reprieve becomes permanent for their economies.
WORLD
‘Is it real?!’ How NYSE trading floor reacted after Trump's tariff pause
Wall Street had been practically begging for the reprieve, which is scheduled to last 90 days
BUSINESS
Chinese shares climb for third day as investors bet on stimulus
A key gauge of Hong Kong-listed Chinese shares gained as much as 3% in early Thursday trading, while the onshore benchmark CSI 300 Index added 1.7%.
WORLD
Billionaires score best-ever day as stocks soar on tariff pause
The S&P 500 Index jumped the most since 2008 following Trump’s mid-day announcement, reversing steep losses over the past few days
WORLD
Asian stocks join relief rally on Trump's 90-day tariff pause, treasuries gain
Indexes across the region advanced Thursday and equity-index futures for Europe surged more than 9% after the S&P 500 rallied 9.5% Wednesday
WORLD
Treasuries ‘fire sale’ sends long-term yields soaring worldwide
While the selling eased into the European trading day, speculation continued to swirl about the reasons investors were turning their backs on US sovereign debt.
BUSINESS
Amazon cancels some inventory orders from China after tariffs
The timing of the cancellations, which had no warning, led the vendors to suspect it was a response to tariffs.
WORLD
Jamie Dimon says recession is the 'likely outcome’ of tariff upheaval
In his annual shareholder letter released Monday, Dimon urged a quick resolution to uncertainties tied to the tariffs 'because some of the negative effects increase cumulatively over time and would be hard to reverse'
WORLD
EU adopts tariffs on €21 billion of US goods in metals dispute
The tariffs will target politically sensitive American states and include products such as soybeans from Louisiana, home to House Speaker Mike Johnson, as well as diamonds, agricultural products, poultry and motorcycles.
WORLD
Treasuries ‘fire sale’ sends long-term yields soaring worldwide
The yield on 30-year Treasuries surged as much as 25 basis points to a level unseen since November 2023
BUSINESS
EV maker Ather is said to consider smaller IPO amid market chaos
The potential smaller size is because the electric-vehicle maker’s existing investors are considering offering fewer shares in the sale
WORLD
Trump tariffs take effect in India, other economies in big blow to global economy
Trump’s latest tariffs push levies imposed on China this year to as high as 104%, along with import taxes on roughly 60 trading partners that run trade surpluses with the US
BUSINESS
Meta whistleblower to tell Congress that company aided China in AI race
Wynn-Williams, who served as director of global public policy for the company, will tell the Senate Judiciary Subcommittee on Crime and Counterterrorism on Wednesday that she witnessed executives undermining US national security.
BUSINESS
China engineers orderly Yuan drop as trade war threatens growth
The People’s Bank of China weakened the yuan’s daily reference rate for a fifth straight session on Wednesday, but moderated the pace of its adjustment.
BUSINESS
US raises charges on small parcels, targeting Chinese retailers
The US will tax imports of items priced up to $800 at the rate of 90% of their value, up from a previous plan to levy a 30% ad valorem tax, according to the amendment on reciprocal tariffs published by the White House Wednesday.
BUSINESS
Chinese stocks resume slide as Trump raises trade war stakes
The Hang Seng China Enterprises Index dropped as much as 4.4%, while the onshore CSI 300 Index fell 1.7% at its lowest. That drew a line under a brief rebound Tuesday.
BUSINESS
Asian stocks drop as Trump’s tariff deadline nears
In early Asian moves, Treasury yield curve steepened with the two-year note outperforming longer-dated debt amid speculation Federal Reserve will cut rates amid escalating trade war.
