US Markets Tumble as Real Estate Weakens
On Tuesday, all four major US benchmark stock indexes fell as real estate data showed home sales dropped by 0.7% last month and Russian President Vladimir Putin suspended the nuclear arms control treaty with the United States. Additionally, the chief U.S. equity strategist at Morgan Stanley said the stock market is in a “death zone” […]
India Invokes Emergency Law Force Coal Plants to Boost Output
Directive calling on coal plants to run at full capacity comes ahead of the expected surge in power usage this summer. India has invoked an emergency law to force power plants that run on imported coal to maximize output ahead of an expected record surge in power usage from mid-March through to mid-June, according to […]
Qatar Based Bid for Manchester United Confirmed on Deadline Day
The deal to buy Manchester United football club is expected to shatter records for the sale of a sports business. Sheikh Jassim Bin Hamad Al Thani, a son of Qatar’s former prime minister, has launched a bid to buy the United Kingdom’s Premier League club Manchester United, whose United States-based owners launched a formal sale […]
US Inflation Report Will Show Whether Stocks or Bonds Got it Right
For the first time in a long time, stock and bond markets are flashing divergent signals on the economy and future Federal Reserve policy. Tuesday’s inflation report will go a long way in determining which one is right. Bond markets have been cautious. Yields on two-year Treasuries have soared by more than 30 basis points […]
Adani Lowers Growth Target and Capital Expenditure on Post-Hindenburg Repair Moves
Gautam Adani’s conglomerate has halved its revenue growth target and plans to delay new capital expenditures, according to people familiar with the matter, as the Indian billionaire seeks to rebuild investor confidence in the wake of a short-selling attack. The group will now target revenue growth of 15% to 20% for at least the next […]
Bonds Plunge, Moody’s Sees External Position under Stress
Karachi: Sovereign bonds plunged on Friday after Pakistan’s bailout talks with the IMF ended without a deal. The country’s bond which was due to be paid off as soon as possible, in April 2024, fell 4.6 cents on the dollar or about nine percent. Other bonds with longer repayment dates fell between two and three […]
Central Bank of Brazil Will Test the Security and Privacy Levels of Digital Real Transactions
Brazil’s central bank will focus its first real digital tests on determining the levels of privacy and security that can be achieved with the central bank’s proposed digital currency infrastructure (CBDC). The tests will be carried out later this year and will establish a simplified operation to make transactions with a yet-to-be-determined tokenized asset. Brazil’s […]
Google Invests Nearly $400 Million in ChatGPT Rival Anthropic
Alphabet Inc.’s Google has invested nearly $400 million in artificial intelligence startup Anthropic, which is testing a rival to OpenAI’s ChatGPT, according to a person familiar with the deal. Google and Anthropic declined to comment on the investment but separately announced a partnership in which Anthropic will use Google’s cloud computing services. The deal marks […]
Apple Supplier in India Begins Manufacturing Components for AirPods
A key supplier to Apple Inc. has started manufacturing components for AirPods in India, marking a significant step in the U.S. tech giant’s push to expand production in the country. Jabil Inc.’s Indian unit has begun shipping AirPods, or plastic bodies, boxes to China and Vietnam, where the wireless earphones are assembled, said people familiar […]
Adani Group Shares Plummet, Extending Defeat After Hindenburg Report
Shares of Adani Group companies have lost more than $30 billion in market value in less than two sessions as a sell-off triggered by the scathing report by US short-seller Hindenburg Research deepened on Friday. The defeat is putting pressure on billionaire Gautam Adani, Asia’s richest man, as it erodes his net worth and threatens […]