- Straits Times Index
3,166.30 +0.24% - S&P 500
4,282.37 +1.45% - Dow
33,762.76 +2.12% - Nasdaq
13,240.77 +1.07% - Bitcoin USD
27,248.52 +0.75% - CMC Crypto 200
608.05 +0.98% - FTSE 100
7,607.28 +1.56% - Gold
1,963.40 -0.31% - Crude Oil
73.74 +2.79% - 10-Yr Bond
3.6910 +2.30% - Nikkei
31,524.22 +1.21% - Hang Seng
18,949.94 +4.02% - FTSE Bursa Malaysia
1,381.26 -0.13% - Jakarta Composite Index
6,633.26 -0.05% - PSE Index
6,512.01 +1.27%
ReutersMarketmind: Teed up for a bullish start to the week
Asian markets are set for a strong start on Monday, extending last week's upward momentum and rising risk appetite on growing hopes the U.S. economy is headed for a 'soft landing' after Congress's approval last week of a debt ceiling deal that averts U.S. default. Regional and global markets on Friday chalked up solid gains and volatility measures slumped after the release of forecast-smashing U.S. jobs figures. Some of the moves in major regional stock markets last week are worth noting: the MSCI Asia ex-Japan index on Friday rose more than 2%, its best day in five months; Japan's Nikkei 225 - at a 33-year high - last week rose for an eighth straight week, its best run in five years; the Hang Seng tech index snapped its longest weekly losing streak on record and rose 3.6%.
AFP NewsSaudi Arabia slashes output further to boost oil price
Riyadh on Sunday announced a fresh oil output cut following a meeting of major producers aiming to prop up prices despite fears of a recession.Oil prices have plummeted about 10 percent since the April cuts were announced, with Brent crude falling close to $70 a barrel, a level it has not traded below since December 2021.
TechCrunchElon goes to China, Rivian is selling stock for $3 billion, and Fiat's cutest tiny EV
The biggest news this week has been Elon Musk’s visit to China, a move that has the potential to strengthen Tesla’s ties with the world’s largest auto market. It’s Musk’s first visit since the COVID-19 pandemic, and his commitment to China isn’t surprising given how much China’s vehicle sales carry the automaker’s global sales. In Q1, China accounted for over half of Tesla’s deliveries.
ReutersMcCarthy lauds U.S. debt ceiling deal, House conservatives divided
U.S. House of Representatives Speaker Kevin McCarthy on Sunday lauded the debt ceiling deal he negotiated with Democratic President Joe Biden, but a prominent House conservative warned that McCarthy has "credibility issues" that may prompt some Republicans to seek his ouster as the top Republican in Congress. Representative Ken Buck, a member of the far-right House Freedom Caucus, said the deal had failed to deliver the deeper spending cuts that McCarthy had promised his party when he ran for speaker in January.
The TelegraphSaudi Arabia slashes oil production and threatens to do 'whatever is necessary' to boost prices
Saudi Arabia has announced plans to cut its oil production by 1 million barrels per day (bpd) as the Kingdom pledged to do “whatever is necessary” to prop up sagging prices.
AFP NewsNew clashes on Russian side of Ukraine border: Russian governor
The governor of Russia's Belgorod region on the border with Ukraine said on Sunday that fighting was ongoing on his side of the frontier and acknowledged pro-Ukrainian forces had taken Russians prisoner during cross-border clashes.Russia's army subsequently claimed to have repelled a "sabotage group of Ukrainian terrorists" seeking to cross the frontier near to the settlement.
ReutersEx-NBCUniversal executive Joe Benarroch to join Twitter
Benarroch said in an email that he was looking forward to working with the company's team to "build Twitter 2.0 together." At Comcast Corp's NBCUniversal, Benarroch oversaw communication strategy for its Advertising and Partnerships division, reporting to Yaccarino, who was advertising chief there before joining Twitter.
Yahoo FinanceCan the IRS really build a free tax-filing program? Many obstacles remain.
Nearly 75% of taxpayers are interested in an IRS-run direct file system.
ReutersLufthansa CEO says it's premature to discuss possible takeover of Portugal's TAP
Lufthansa's Chief Executive Carsten Spohr said on Sunday it was too soon to discuss the German airline group's potential interest in taking over Portugal's TAP as the Portuguese government is still debating the privatisation process. Portugal wants to keep a strategic stake in state-owned airline TAP and will not offer all its capital in the upcoming privatisation, the country's secretary of state for finance, Joao Nuno Mendes, said on Friday. "There's still discussion in Portugal how that privatisation will take place and it's not supposed to be 100 percent privatisation," Spohr told journalists at the annual meeting of the International Air Transport Association in Istanbul.
The TelegraphTim Cook seeks Apple’s next iPhone moment with bet on VR
In his 12 years in charge of Apple, Tim Cook has turned the Silicon Valley giant into the world’s biggest company, multiplied revenues, and sold billions of iPhones.
AFP NewsNATO chief urges Turkey not to veto Sweden's bid
NATO chief Jens Stoltenberg on Sunday called on Ankara to drop its opposition to Sweden's bid to join the US-led defence alliance, hoping Stockholm's accession would be finalised "as soon as possible". "I look forward to finalising Sweden's accession as soon as possible," he said.
Yahoo FinanceThe signals from one month of economic data aren't that reliable
Economic data does not move in smooth, straight lines. And history says the signal from one month’s move is just not reliable.
AFP NewsIn Belgorod, Russians who fled border shelling find help
Soap, wet wipes and children's toys: Irina Burlakova, a 30-year-old Russian woman, picks up humanitarian aid after having fled Shebekino, a border town heavily shelled by Ukraine this week. Tatiana Kozheleva, a pensioner who fled Shebekino, said her balcony was damaged by shelling in the border city.
TechCrunchInside Stripe's latest moves
Stripe made headlines more than once this week as it acquired a (non-fintech!) startup and announced an expansion of its issuing product into credit. Stripe picked up Okay, a startup that developed a low-code analytics software to help engineering leaders better understand how their teams are performing. In other words, Stripe deciding to acquire a startup that helps engineering leaders build performance dashboards to gauge how their teams are doing feels like the company is very serious about making sure its own engineering team is working effectively enough to not only move faster, but also be more productive.
ReutersAirbus nears 500-jet order from India's IndiGo -sources
Airbus is closing towards a potentially record deal to sell 500 narrow-body A320-family jets to India's largest carrier IndiGo, industry sources said on Sunday. The European planemaker has emerged as front-runner for an order eclipsing Air India's historic provisional purchase of 470 jets in February, the sources said on the sidelines of an airline industry meeting in Istanbul. Such a deal would be worth some $50 billion at the most recently published Airbus list prices, but would typically be worth less than half this after widespread airline industry discounts for bulk deals, according to aircraft analysts.
Yahoo FinanceDebt ceiling done, Fed goes quiet: What to watch this week
With first quarter earnings season largely done, investors will now shift focus to the Fed's next meeting and how policy updates could impact the AI-driven rally in stocks.
The TelegraphRecord demand for 35-year mortgages as first-time buyers face soaring rates
A record share of first-time buyers are taking out mortgages with terms of 35 years or more as soaring costs force more Britons to sign up to a lifetime of debt.
- Reuters SG
MOVES-UBS names Christian Wolf as new head of Southeast Asia M&A -memo
UBS Group AG has appointed Christian Wolf as its Head of Southeast Asia M&A (merger and acquisition), according to an internal memo seen by Reuters on Sunday. The move comes as UBS is aligning its resources in Southeast Asia following its takeover of Credit Suisse. Wolf will work closely with UBS' Head of North Asia M&A, Jun Luo, and with country and sector bankers in Southeast Asia in jointly developing the Swiss bank's strategy for Asia M&A, according to the memo.
ReutersAirlines body urges jetmakers to fix aircraft delivery delays
The head of a group representing global airlines renewed pressure on planemakers to speed up plane and parts production on Sunday, warning the delays would curtail airline capacity as demand for air travel nears a full recovery from the pandemic. Willie Walsh, director general of the International Air Transport Association, told Reuters the topic had been raised by "every single one" of the airline CEOs he had met as the industry gathers for a three-day annual meeting in Istanbul. Airbus and Boeing have blamed supply chains for delivery delays, while bottlenecks in a network of engine repair shops have also forced airlines to ground dozens of jets.
ReutersPro-Ukraine group of Russian partisans plans to give prisoners to Kyiv
A pro-Ukraine group of Russian partisans on Sunday said it had captured several soldiers during a cross-border raid into southern Russia and would hand them over to Ukrainian authorities. The Russian Volunteer Corps made the claim in a video statement released on Telegram in the wake of a raid into the Russian region of Belgorod. The Corps, along with fighters from the Freedom of Russia Legion, has claimed responsibility for a spate of attacks inside Russian territory, including last week when Moscow said two civilians were killed during fighting.
Yahoo FinanceThis key retirement tool is getting a big boost next year
The new 2024 annual limit announced on health savings account, or HSA, contributions for individuals will be $4,150, up $300 from last year.
ReutersAstraZeneca's Tagrisso slashes death risk in certain post-surgery lung cancer patients
AstraZeneca's lung cancer therapy, Tagrisso, cut the risk of death by more than half in patients with a certain form of lung cancer who were diagnosed early enough to have their tumour surgically removed, trial data showed. The drug has regulatory approvals across multiple geographies for certain patients with so-called non small cell lung cancer (NSCLC) who have a mutation of the EGFR gene. The latest data, presented at the American Society of Clinical Oncology (ASCO) meeting, establishes Tagrisso as the backbone treatment for EGFR-mutated lung cancer, said Susan Galbraith, executive VP of oncology R&D at AstraZeneca in a statement.
The TelegraphSiemens and Microsoft launch last-ditch bid to save CBI as support drains away
Supporters of the CBI have launched a last-ditch bid to save the embattled business lobby group from collapse ahead of a crunch vote on its future.
AFP NewsReal Madrid great Benzema agrees to leave club
Real Madrid striker Karim Benzema has agreed a deal to end his glittering era at the club, the Spanish giants said Sunday."Real Madrid and our captain Karim Benzema have agreed to put an end to his brilliant and unforgettable era as a player at our club," said Los Blancos in a statement.
ReutersAirbus seeing more predictable industrial rhythm after delays
European planemaker Airbus is seeing a more predictable pattern in its industrial activities and what appears to be the start of a more positive trend in deliveries, Chief Commercial Officer Christian Scherer said. Reuters reported on Thursday that Airbus deliveries for May were on course to top 60 aircraft, up around 30% from the same month last year and bringing deliveries so far this year to more than 220 aircraft.