Reported about 1 month ago
Israel's cabinet has approved Prime Minister Benjamin Netanyahu's decision to fire Ronen Bar, the chief of the Shin Bet intelligence agency, despite mass protests against this action. Bar's dismissal, effective April 10, follows tensions over Israel's handling of ongoing conflicts and allegations of political interference in intelligence matters. The protests, which recently escalated into violence, highlight deep divisions within Israeli society and government as Israel faces criticism over its judiciary and security policies.
Source: YAHOO
Reported about 1 month ago
Beijing has intensified its support for the AI startup Manus, following the company's registration of its AI assistant and its debut on state media. The move reflects China's strategy to promote domestic AI firms with potential after the success of DeepSeek. Manus recently gained attention for launching what it claims is the world's first general AI agent, which requires significantly less prompting than typical chatbots. The Chinese government is backing Manus' operations amid regulatory approvals, with the company actively seeking to expand its reach within the domestic market.
Source: YAHOO
Reported about 1 month ago
According to the Financial Times, the Trump administration is looking to renegotiate the terms of U.S. access to essential minerals and energy resources in Ukraine, while increasing its economic demands on Kyiv amid ongoing peace negotiations with Russia.
Source: YAHOO
Reported about 1 month ago
India's government has decided to let lapse a $23 billion program aimed at boosting domestic manufacturing to compete with China, after four years of underwhelming results. Despite attracting major companies like Foxconn and Reliance, many firms struggled to meet production targets, leading to only 37% of the set goals being achieved. The program's ineffectiveness, compounded by bureaucratic challenges, has raised concerns about India's manufacturing ambitions and potential future strategies for attracting investment.
Source: YAHOO
Reported about 1 month ago
President Prabowo Subianto's recent economic policies, including aggressive spending and diluting the central bank's independence, have sparked investor anxiety and market instability in Indonesia. Following rumors regarding Finance Minister Sri Mulyani Indrawati's potential resignation, the stock market experienced significant declines, raising doubts about the government's fiscal health and Prabowo's ambitious economic growth targets. Investors are particularly wary as the country grapples with external pressures, leading to concerns over the sustainability of Prabowo's populist initiatives amidst warnings of potential challenges to Indonesia's democratic governance.
Source: YAHOO
Reported about 1 month ago
Asian stocks faltered on Friday as concerns over upcoming tariffs from the US and mixed signals from central banks unsettled investors. Significant declines were seen in Hong Kong and Chinese technology stocks after a brief rally, while shares in Japan showed a slight upturn. Concerns about corporate earnings, particularly from FedEx and Nike, along with looming uncertainty in the global economy, have led to a cautious market outlook ahead of crucial earnings reports and economic policy meetings.
Source: YAHOO
Reported about 1 month ago
Hanwha Aerospace saw a significant drop in its stock value, plunging nearly 16% after announcing a plan to raise 3.6 trillion won ($2.5 billion) in South Korea's largest share sale in over three years. Despite the downturn, the company, which has benefitted from increased military spending, plans to invest the proceeds into overseas operations and aims for substantial revenue growth by 2035. Analysts have expressed concern, suggesting the company did not need to raise capital given its strong profits.
Source: YAHOO
Reported about 1 month ago
Amid a downturn in clean-energy stock values due to President Trump’s push for fossil fuels, private investors like Brookfield Asset Management are capitalizing on the buyer’s market for renewable energy projects. With significant acquisitions in wind, solar, and battery initiatives, these investors believe that the fundamentals supporting renewable energy remain strong, creating a favorable environment for strategic investments in a sector marked by lower valuations and high power prices.
Source: YAHOO
Reported about 1 month ago
In a bid to regain financial stability and attract foreign investment, Ukraine hosted a delegation of international investors in Kyiv shortly before a critical meeting between Donald Trump and Volodymyr Zelenskiy. This meeting, the first since Russia's invasion, involved major creditors and firms discussing plans for Ukraine's post-war reconstruction needs, estimated at $524 billion over the next decade. Despite concerns about the peace negotiations and ongoing military threats, investors remain interested in Ukrainian assets, highlighting the urgency for reform and increased foreign direct investment.
Source: YAHOO
Reported about 1 month ago
Germany is set to pass a significant spending bill focused on defense and infrastructure, with a parliamentary vote expected soon. This legislation will enable the country to exceed borrowing limits and invest heavily in crucial sectors, aiming to boost its stagnating economy and respond to geopolitical challenges. The approval from the Bundesrat is anticipated, as the necessary coalition supports it, which includes the CDU/CSU, SPD, and Greens.
Source: YAHOO
Reported about 1 month ago
Malaysia Aviation Group, the parent company of Malaysia Airlines, has announced plans to purchase 30 Boeing 737 MAX jets for delivery in 2029 to modernize its fleet and recover from past challenges. The order includes 18 MAX 8 and 12 MAX 10 aircraft, with optional purchases depending on market conditions. This move aims to enhance operational efficiency and sustainability after a series of safety investigations that prompted the airline to reduce flights.
Source: YAHOO
Reported about 1 month ago
In a significant setback for Tesla, regulators have announced the recall of nearly all Cybertrucks, marking yet another challenge for the electric vehicle manufacturer.
Source: YAHOO
Reported about 1 month ago
US regulators have issued a recall for nearly all Cybertrucks, marking the eighth recall for Tesla vehicles since they were first delivered to customers just over a year ago.
Source: YAHOO
Reported about 1 month ago
Asian markets showed mixed results on Friday following a decline on Wall Street, driven by investor apprehension regarding uncertainties stemming from U.S. President Donald Trump's policies. Notably, Hong Kong's Hang Seng dropped 1.9%, and the Shanghai Composite fell 1.2%, while Japan's Nikkei 225 experienced a slight dip. Despite the downturn in some regions, South Korea's Kospi and Australia's S&P/ASX 200 recorded modest gains. Market analysts continue to express concern over the potential impacts of the ongoing trade war and governmental budget cuts on the economy.
Source: YAHOO
Reported about 1 month ago
Beijing's backlash against CK Hutchison's sale of its ports business, particularly its assets near the Panama Canal, signifies amplified scrutiny over Chinese divestments involving U.S. buyers, including the potential sale of TikTok by ByteDance. Analysts interpret this as part of Beijing’s strategy to assert a strong front against U.S. pressure while managing domestic perceptions. The heavy politicization surrounding the Hutchison deal could complicate negotiations for TikTok's sale, especially as the Chinese government prefers retaining control over its popular app amidst increasing U.S. regulatory scrutiny.
Source: YAHOO
Reported about 1 month ago
In Bhiwandi, India, decades-old weaving businesses are struggling for survival as the industry grapples with rising yarn prices, high electricity costs, and competition from cheaper Chinese imports. Once thriving, the sector has seen a significant decline, with approximately 30% of power looms shutting down. Veteran weavers like Abdul Sattar, who has dedicated his life to this craft, express concern over the future of their profession and prefer their children pursue different careers.
Source: YAHOO
Reported about 1 month ago
In March, major copper smelters in China, facing severe losses due to a shortage of copper concentrate, have begun equipment maintenance during a traditionally high demand period. This unusual decision highlights the pain from overcapacity and fierce competition in the industry, which has driven treatment charges below zero. Analysts suggest significant production cuts may be discussed at the upcoming China Smelters Purchase Team meeting, potentially leading to increased copper imports if refined copper output declines.
Source: YAHOO
Reported about 1 month ago
Recent data from the Bank of Japan reveals that households in Japan have significantly reduced their cash holdings at a record speed in response to rising living costs. In the last quarter, cash holdings fell to ¥105.3 trillion ($707 billion), marking a 3.4% decline compared to the previous year, driven by increased cashless transactions and higher consumer spending due to inflation. Meanwhile, investments in assets like investment trusts and government bonds saw a notable rise, indicating a shift in household financial behavior.
Source: YAHOO
Reported about 1 month ago
US stock futures showed a slight decline as Wall Street reacted to mixed signals from the Federal Reserve after its decision to maintain interest rates. Dow futures fell by 0.1%, S&P 500 futures dropped 0.2%, and Nasdaq futures declined by 0.3%. Initially, markets responded positively to the Fed's reassurances regarding trade war impacts, but concerns over higher inflation and lower economic growth have since weighed heavily on investor sentiment.
Source: YAHOO
Reported about 1 month ago
The US dollar rose against major currencies after the Federal Reserve indicated it will not rush to cut interest rates, marking its strongest performance in three weeks. Concerns about trade tariffs imposed by President Trump weighed on risk-sensitive currencies like the Australian and New Zealand dollars. While the dollar index increased to 104.01, the euro and sterling experienced slight declines. Analysts suggest that upcoming trade announcements could further influence the dollar's position.
Source: YAHOO
Reported about 1 month ago
China's restaurant industry is experiencing a crisis driven by a deflation-hit economy, leading to increased closures and intense price competition. Many new establishments, struggling under high rents and lower consumer spending, are unable to survive, with the estimated average lifespan of a restaurant in major cities dropping to just over a year. Analysts indicate that cut-throat pricing and reduced profit margins are becoming the norm, ultimately threatening food quality as operators cut costs to stay in business.
Source: YAHOO
Reported about 1 month ago
Record numbers of motorists are trading in Tesla electric vehicles this month, influenced by protests against CEO Elon Musk's advisory role to President Trump. Data shows Teslas from model year 2017 or newer made up 1.4% of all trade-ins, a significant increase from the previous year. As dissatisfaction grows due to Musk's actions and declining vehicle value, brand loyalty is being questioned, potentially opening doors for competitors amidst falling Tesla sales.
Source: YAHOO
Reported about 1 month ago
PDD Holdings Inc. shares rose 4% after reporting an unexpected 18% increase in earnings, despite lower-than-expected revenue of 110.6 billion yuan. The results alleviated investor fears about the impact of US tariffs and stiff domestic competition on the company's performance. Analysts noted that the earnings surpassing expectations should bolster market confidence in PDD’s outlook for 2025, although challenges from global uncertainties and heightened competition remain.
Source: YAHOO
Reported about 1 month ago
CoreWeave Inc.'s initial public offering (IPO) has reportedly been oversubscribed, with demand exceeding the available shares. The company, backed by Nvidia, is set to raise up to $2.7 billion as it prepares to price its offering next Thursday and begin trading shortly after. Shares are priced between $47 and $55, with major banks like Morgan Stanley and Goldman Sachs leading the deal.
Source: YAHOO
Reported about 1 month ago
FedEx has lowered its financial outlook for the third consecutive quarter due to growing economic uncertainty and pressures in the U.S. industrial sector, leading to a more than 5% drop in shares. The company anticipates flat to slightly decreased revenue compared to previous estimates, as rising tariffs impact consumer demand. Despite a slight revenue increase in the last quarter, FedEx is facing challenges in B2B shipping and an ongoing shift towards lower-margin deferred services.
Source: YAHOO