Business
Wall Street futures rise on AI optimism, Mideast truce hopes
Markets will next look toward the personal consumption expenditures index data on Thursday.
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World
Air India slashes domestic flights amid Iran war fuel price spike
Iran's effective closure of the Strait of Hormuz following US-Israeli strikes on Tehran has sent aviation fuel prices soaring.
Business
UK retailers demand urgent levy on low-value imports to curb Shein’s edge
Retailers have called for a US$3.50 customs duty to be imposed urgently on low-value parcels from overseas to close a tax loophole that benefits online players.
Business
Nvidia to boost spending in Taiwan to US$150bil a year, says CEO
The export-driven island is a powerhouse in the manufacturing of semiconductors used to train and power artificial intelligence systems.
Business
French luxury store shuts doors in Beijing after 13 years
Its Beijing branch was too large, while the Covid pandemic, a slump in domestic consumption spurred by a property crisis and a slowdown in the luxury sector added to its…
Business
Samsung plans US$1.5bil chip testing plant in Vietnam
Samsung Electronics may invest an additional US$2.5 billion from potential profits, with the new plant set to test DRAM and NAND chips.
Business
Memory chip frenzy sends SK Hynix, Micron into US$1 trillion club
SK Hynix rose as much as 13% in South Korea on Wednesday, becoming the third Asian company to surpass US$1 trillion in market capitalisation.
World
Samsung workers approve bonus deal after big AI profits
Around 78,000 employees will each be eligible to receive a bonus of roughly US$370,000 this year, based on an estimate of annual operating profit.
Business
Yen hovers near intervention zone as traders assess Iran war outlook
The safe-haven greenback was steady after edging higher against major peers a day earlier, as US strikes on Iran dented optimism for a near-term end to hostilities and the reopening…
Business
Asian shares climb, oil holds gains as markets eye Iran talks, central bank moves
Japan's Nikkei hits record after Wall Street gains on AI optimism.
Business
US Space Force awards SpaceX US$2.29bil contract for military space data network
The fixed-price nontraditional contracting agreement covers the Space Data Network (SDN) Backbone, a resilient network architecture providing high-capacity and low-latency data transport for the military.
World
IMF says Bangladesh requests new assistance program amid Iran war fallout
In March, Bangladesh's government said it was seeking loans of around US$2 billion from multilateral donors to tackle energy security concerns sparked by the Iran war.
Business
BP’s ousted chairman Manifold disputes accusations of wrongdoing
The British oil giant unexpectedly fired Albert Manifold on Tuesday, citing 'serious concerns' related to 'governance standards, oversight and conduct'.
World
US to keep tariffs on USMCA countries as issues with Canada ‘significant’
Trade representative Jamieson Greer says the North American free trade pact will not continue as a tariff-free zone while the US has a 'giant trade deficit'.
Business
ECB hosts online meeting on AI cybersecurity challenge
European governments and businesses are particularly unsettled by Anthropic’s Mythos, which has been withheld from the public over fears its unrivalled ability could expose vulnerabilities even in robust IT systems.
World
Britain sanctions crypto exchange HTX over Russian support
Cryptocurrency exchange operator HTX is suspected of supporting Russian crypto platform Garantex and the A7 group, both seen as strategically important to Moscow.
Business
S&P 500, Nasdaq hit record closing highs on AI optimism, Micron joins US$1 trillion club
Upbeat earnings and renewed confidence in AI trade have driven US equities higher despite the ongoing conflict with Iran with investors now turning their attention to IPOs.
Business
US stocks add to gains on hopes for Iran deal
About 10 minutes into trading, the Dow Jones Industrial Average was up 0.3% to 50,735.99.
Business
Stellantis to invest €1bil in French electric vehicle production
French President Emmanuel Macron made the announcement at the Elysee Palace, saying the funding to produce new generations of EVs from 2029 onwards.
Business
BP ousts chairman over ‘serious’ governance concerns
The British oil giant said board member Ian Tyler has been appointed interim chairman with immediate effect.
Business
European stocks fall, oil rises after US strikes Iran
European Central Bank (ECB) board member Isabel Schnabel said the central bank should raise interest rates in June even if peace talks with Iran produce a deal.
South East Asia
Indonesia’s work from home policy helps cut gasoline use
Following a two-month evaluation of the policy, the Indonesian government has decided to continue the arrangement.
World
Australia-India-Japan-US Quad to build a port, unveil pact on critical minerals
Quad unveils Fiji port project, signs minerals and energy pacts, but leaders’ summit absence raises doubts over the group's relevance.
World
OpenAI’s Altman says AI unlikely to lead to ‘jobs apocalypse’
Sam Altman said AI has yet to trigger the white-collar job losses he once feared, admitting he was wrong about its near-term social and economic impact.
Business
Ferrari unveils first fully electric car
The Luce – Italian for 'Light' – has a top speed of over 310kph and a range of over 530km.
Business
Starbucks sees sharp drop in Korean sales after ‘Tank Day’ marketing backlash
A marketing campaign that evoked a brutal 1980 military crackdown on pro-democracy protesters triggered a public outcry.
Business
Sri Lanka hikes interest rates by full point to fight inflation
Heightened tensions in the Middle East have prompted global commodity prices, particularly petroleum, to remain high, says the Central Bank of Sri Lanka.
World
Taiwan drone exports soar on Ukraine war
Taiwanese companies have seen sales surge as Russia’s full-scale invasion of Ukraine fuels demand for drones widely deployed by both sides.
Business
Dollar wobbles as markets cling to hopes for Middle East peace deal
Despite low odds of a deal, peace hopes drive oil below US$100, easing pressure on emerging-market currencies.
Business
Oil rises, stocks mixed as new US strikes dampen peace deal optimism
Brent rises to US$97.32 after US strikes in southern Iran target boats attempting to lay mines and missile launch sites.
Business
Samsung’s non-chip union seeks injunction to halt bonus vote
Workers in smartphones, TVs and home appliances were told they had no right to vote on the semiconductor union pay deal.
Automotive
Ferrari bets on generational tech shift with Luce five-seat EV
Ferrari turns to high-end technology and family-focused luxury while expanding beyond traditional petrol-powered sports cars.
Business
Google faces huge EU penalty over search practices
The US internet giant reportedly faces a high triple-digit million euro fine as part of a European Union antitrust investigation.
Business
Oil tumbles nearly 7% as US and Iran seen moving closer to deal
Optimism grows that oil shipments through the Strait of Hormuz will resume after nearly three months of disruption.
World
Japan plans US$19bil extra budget as costs rise with Iran war
Prime Minister Sanae Takaichi said the budget will be used to ease the rising cost of petrol, electricity and gas.
Business
TAP Air Portugal cuts losses ahead of privatisation
The net loss fell to €40 million, thanks to increased passengers on flights to North and South America, after a loss of €108 million in the same quarter last year.