General Motors to shut manufacturing operations in Colombia, Ecuador -statement

Reuters
Chinese tariffs could leave cognac makers with too much brandy
High Chinese tariffs on EU brandy would leave French companies with vast amounts of cognac that could be hard to sell elsewhere, according to Reuters' calculations, analysts, and investors who fear firms could be forced to discount. China opened an anti-dumping investigation into brandy imported from the European Union in January, sparking fears cognac could suffer a similar blow to that taken by Australian wine when China introduced tariffs of up to 218.4%. Australian wine exports to China, worth $1.1 billion in 2019, were almost completely wiped out by high tariffs.
GOBankingRates
Jaspreet Singh Says You Shouldn’t Start a Business To Get Rich — Do This Instead
Money expert Jaspreet Singh, who runs the successful financial YouTube channel, "The Minority Mindset," offers lots of advice to people who want to make a lot of money. In a recent episode, he spoke...
GOBankingRates
8 Ways Middle-Class People Become Poor in Retirement
After working for most of your adult life, the last thing you want to do is stress about your finances and paying hefty bills in your golden years. You want to enjoy your retirement after committing...
Reuters
Toyota to get an earnings lift from hybrids as EV hype cools
Toyota Motor is expected to get a big lift from demand for hybrids when it reports annual earnings on Wednesday, illustrating how the world's top-selling automaker is poised to benefit as hype around battery electric vehicles cools. But the forecast record results, to be helped in part by a boost from the weak yen currency, belie the considerable challenges it faces in critical markets. In China it is pressured by a ferocious price war and in the U.S., the fallout from consumers grappling with higher borrowing costs.
GOBankingRates
7 Warren Buffett Myths You Should Stop Believing
Warren Buffett, called the "Oracle of Omaha" for his savvy investing moves, and the billionaire chairman behind Berkshire Hathaway, gets a lot of press for his financial decisions, lifestyle and...
Barrons.com
Fast-Food Fight Intensifies as Consumers Pull Back. Don’t Expect Prices to Drop Soon.
The industry has been warning about declining traffic and smaller checks since last year, especially among lower-income households.
TechCrunch
Wayve raises $1B to take its Tesla-like technology for self-driving to many carmakers
Wayve, a U.K.-born startup developing a self-learning rather than rule-based system for autonomous driving, has closed $1.05 billion in Series C funding led by SoftBank Group. The company plans to use the fresh capital injection to develop its product for "eyes on" assisted driving and "hands off" fully automated driving and other AI-assisted automotive applications. San Francisco has become known as the epicenter for autonomous driving roll-outs, with Alphabet-owned Waymo and GM-owned Cruise both operating services in the city.
Reuters
Indian tariff suspension boosts Australian chickpeas
CANBERRA (Reuters) -Australian desi chickpea prices rose sharply after India suspended tariffs on imports, opening the door to a revival of a trade once worth hundreds of millions of dollars. Higher prices and increased demand from India will encourage farmers to plant more chickpeas in the coming months, said industry body Grains Australia. Australia, the largest exporter of chickpeas, is in pole position to benefit.
Reuters
Exclusive - Microsoft hit with Spanish startups' complaint about cloud practices
Microsoft was hit with a Spanish startup group's complaint about its cloud practices to the Spanish antitrust regulator on Tuesday, the latest grievance over its fast-growing cloud computing services and which followed a trade group's EU complaint. The U.S. tech giant ranks second in the cloud computing sector, behind market leader Amazon but is expected to close the gap rapidly as a clutch of generative AI features powered by OpenAI's technology attract business users. The Spanish Startup Association, which represents more than 700 startups in Spain, cited a number of allegedly anti-competitive practices by Microsoft in recent years.
Reuters SG
UPDATE 3-Singtel-owned Optus taps Rue as CEO to restore strategy and trust
Singapore Telecommunications-owned Optus said on Monday it had appointed Stephen Rue to lead the Australian phone carrier replacing former boss Kelly Bayer Rosmarin, who resigned in November post a nation-wide network outage last year. Rue has been running Australia's National Broadband Network (NBN) since 2018 and will now takeover as Optus CEO, as the firm seeks to reset its strategy and rebuild customer trust.
Reuters
Japan's service activity extends gains on solid demand, PMI shows
Japanese service sector activity grew at the fastest pace in eight months in April thanks to solid business and consumer spending, a private survey showed on Tuesday, results that should keep the central bank on track to hike rates again this year. The final au Jibun Bank Service purchasing managers' index (PMI) rose to 54.3 last month, the highest level since August 2023, and up slightly from 54.1 in March. The firms cited rising expenses from higher wages as the main reason for passing on costs to customers, a fact that won't be lost on the Bank of Japan which has for years urged firms to raise pay at a steady pace to spur consumption.
The Telegraph
Take home pay calculator: Your salary after tax, pensions and other deductibles
When your take-home pay lands in your bank account each month, it can look underwhelming compared to the salary written into your contract.
Reuters
As climate shifts, a leafhopper bug plagues Argentina's corn fields
Global warming has brought Argentina's corn farmers a dangerous new enemy: a yellow insect just four millimeters (0.16 inch) long that thrives in hotter temperatures and is threatening harvests of the crop. Meet the leafhopper. The world's No. 3 corn exporting country has slashed millions of tons from its harvest projections for the current crop due to a rare plague of the insect that can carry a stunt disease that damages the cobs and kernels of the plant.
Reuters
Italian shoemaker Tod's to court US lovers of quiet luxury
An investment firm backed by LVMH is betting demand from wealthy Americans for quiet luxury will ensure its 510 million euro ($545 million) stake in Italian shoemaker Tod's yields the double-digit returns private equity typically seeks. L Catterton, created by U.S. fund Catterton and LVMH-owner Groupe Arnault, on Friday secured sufficient shares to take Tod's private once the deal, valuing the company at just over 1.4 billion euros ($1.5 billion), formally concludes in the coming days. Listed in Milan but controlled by its founding Della Valle family, Tod's profitability has lagged rivals.
Reuters
Wall Street bonuses to rise this year as deals return, says report
Bonuses are poised to recover on Wall Street this year, fueled by strong equity market gains and recovery in investment banking, according to financial services compensation firm Johnson Associates. Investment bankers helping companies issue debt are expected to have the highest raises in bonuses this year, from 15% to 25%, as companies sell record volumes of debt. As initial public offerings come back, bonuses for equity underwriters are expected to rise 10% to 20% this year.
The Independent
Australia’s Qantas agrees to £63m payout over ‘ghost flights’
Airline advertised and sold over 8,000 flight tickets it had already cancelled in its internal system
Associated Press
Qantas agrees to pay $79 million in compensation and a fine for selling seats on canceled flights
Qantas Airways agreed to pay 120 million Australian dollars ($79 million) in compensation and a fine for selling tickets on thousands of cancelled flights, the airline and Australia’s consumer watchdog said on Monday. The Australian Competition and Consumer Commission sued the Sydney-based airline in the Federal Court last year. The commission alleged that Qantas engaged in false, misleading or deceptive conduct by advertising tickets for more than 8,000 flights from May 2021 through to July 2022 that had already been canceled.
France 24
Boeing faces new FAA probe over 787 Dreamliner inspections, falsified records
US air safety authorities are investigating whether Boeing completed required plane inspections on the 787 and whether employees falsified aircraft records, officials said Monday. The issue centers on whether Boeing undertook required inspections to "confirm adequate bonding and grounding where the wings join the fuselage on certain 787 Dreamliner airplanes," the Federal Aviation Administration said in an email.The FAA said it opened the investigation after Boeing notified it that the company ma
Reuters
Lufthansa Technik to work with Israel's Elbit on military drones
Lufthansa will work with Israeli defence firm Elbit Systems in the field of military drones via its maintenance subsidiary Lufthansa Technik as it seeks to expand its defence business, a spokesperson for the unit said on Monday. Lufthansa Technik will be responsible for maintenance and staff training, while Elbit will be in charge of the production of the drones.
Reuters
Archegos boss Bill Hwang's trial to test unusual manipulation theory
Attorneys for Sung Kook “Bill” Hwang are expected to argue that prosecutors are pushing a novel and nonsensical market manipulation theory when the criminal trial of the former Archegos Capital Management boss kicks off in New York this month. Archegos, a $36 billion family office which invested Hwang's personal wealth, collapsed spectacularly in March 2021 after its highly leveraged bets on a small number of stocks via complex derivatives quickly soured. Prosecutors allege Hwang and his deputies lied to banks about the magnitude of Archegos' derivative positions to borrow billions of dollars that they then used to inflate the underlying stocks through open market purchases.

Straits Times Index

S&P 500

Dow

Nasdaq

Bitcoin USD

CMC Crypto 200

FTSE 100

Gold

Crude Oil

10-Yr Bond

Nikkei

Hang Seng

FTSE Bursa Malaysia

Jakarta Composite Index

PSE Index

General Motors to shut manufacturing operations in Colombia, Ecuador -statement

Latest stories

Chinese tariffs could leave cognac makers with too much brandy

Jaspreet Singh Says You Shouldn’t Start a Business To Get Rich — Do This Instead

8 Ways Middle-Class People Become Poor in Retirement

Toyota to get an earnings lift from hybrids as EV hype cools

7 Warren Buffett Myths You Should Stop Believing

Fast-Food Fight Intensifies as Consumers Pull Back. Don’t Expect Prices to Drop Soon.

Wayve raises $1B to take its Tesla-like technology for self-driving to many carmakers

Indian tariff suspension boosts Australian chickpeas

Exclusive - Microsoft hit with Spanish startups' complaint about cloud practices

UPDATE 3-Singtel-owned Optus taps Rue as CEO to restore strategy and trust

Japan's service activity extends gains on solid demand, PMI shows

Take home pay calculator: Your salary after tax, pensions and other deductibles

As climate shifts, a leafhopper bug plagues Argentina's corn fields

Italian shoemaker Tod's to court US lovers of quiet luxury

Wall Street bonuses to rise this year as deals return, says report

Australia’s Qantas agrees to £63m payout over ‘ghost flights’

Qantas agrees to pay $79 million in compensation and a fine for selling seats on canceled flights

Boeing faces new FAA probe over 787 Dreamliner inspections, falsified records

Lufthansa Technik to work with Israel's Elbit on military drones

Archegos boss Bill Hwang's trial to test unusual manipulation theory