Reported 6 months ago
Eddie Hearn and Frank Warren, two major boxing promoters in the UK who had long been sworn enemies, recently reconciled and became partners after a handshake in London. Their collaboration was initiated by Saudi organizers and has led to them working together on high-profile boxing events. Despite their past rivalry, they now enjoy each other's company and are focused on providing opportunities for their fighters. Their upcoming joint event in Riyadh will test their newfound partnership.
Source: YAHOO
Reported 6 months ago
China Vanke Co., a Chinese developer, is reportedly in advanced talks with major banks for a $6.9 billion loan, which would be the largest in Asia Pacific, excluding Japan, since 2022. The loan aims to address liquidity concerns and avoid potential defaults amidst China's property crisis. The company is also selling assets to alleviate financial pressure.
Source: YAHOO
Reported 6 months ago
The article discusses how the gap between Japan's 30-year government bond yields and swaps contracts has widened to the most in over a decade, signaling rising interest rates in Japan. The widening gap reflects market concerns that bonds will be impacted by the Bank of Japan's reduction of bond buying, with speculation that the central bank may decrease its JGB purchases in the future. This widening spread has not prompted much additional bond purchases by Japanese institutional investors, who are heavily invested in foreign bonds with higher yields.
Source: YAHOO
Reported 6 months ago
Asian shares rose on Friday despite Wall Street's decline, with Tokyo's Nikkei and Seoul's Kospi gaining. Chinese factory activity weakened, but Chinese shares still rose. Hong Kong's Hang Seng index and Shanghai Composite index also saw gains, while Australia's S&P/ASX 200 rose. On Wall Street, the S&P 500, Dow Jones, and Nasdaq fell, with Salesforce and Kohl’s experiencing significant losses, while Best Buy and Foot Locker reported better-than-expected profits. Easing Treasury yields provided relief, and a slowdown in the U.S. economy could lead to potential Federal Reserve rate cuts. U.S. crude oil prices dipped, and the dollar weakened against the yen and euro.
Source: YAHOO
Reported 6 months ago
Mark Mobius, the 87-year-old money manager, has turned bullish on Chinese stocks following a recent rally in the market, citing confidence in the rebound and favorable government measures to support the real estate sector. Although he predicts economic growth of 4% to 5% driven by a weakening yuan, Mobius still prefers the Indian stock market over China for this year, highlighting his bullish stance on India's market. He plans to launch a new emerging-market fund in September, focusing on 30 globally selected stocks for high net-worth individuals.
Source: YAHOO
Reported 6 months ago
Global fund launches in China have surged due to a weakening yuan and a struggling economy, with 11 funds launched under the Qualified Domestic Limited Partner (QDLP) program so far this year, surpassing previous yearly totals. Managers like Blackstone and Bridgewater have seen high demand for funds investing in overseas assets, driven by a weak yuan and investor sentiment. The products are popular amid Chinese market challenges, such as the yuan hitting six-month lows and the stock market showing signs of fatigue, prompting interest in alternative investments and foreign bonds.
Source: YAHOO
Reported 6 months ago
When feeling stressed or anxious, therapists suggest focusing on softening your gaze to combat tunnel vision caused by an activated nervous system. Softening your gaze by relaxing your eyes in safe environments can help lower tension in the body, reduce stress, and promote mindfulness. Techniques like cupping your hands over your eyes or softly gazing at pleasant surroundings can be practiced regularly to improve overall well-being and prepare for dealing with stress and anxiety.
Source: YAHOO
Reported 6 months ago
Tap into your home's astrology with your daily horoscope for May 30, 2024. Aries should tackle household tasks, Taurus can add romance to their bedroom, Gemini should meet their neighbors, Cancer needs to stop comparing themselves, Leo is advised to cook creatively, Virgo might try a new dinner spot, Libra should avoid overindulgence, Scorpio can make their bathroom inviting, Sagittarius should plan a root cellar, Capricorn is encouraged to relax and enjoy indulging, Aquarius can foster community connections, and Pisces should trust their intuition and create something special for a loved one.
Source: YAHOO
Reported 6 months ago
Switzerland's economy unexpectedly maintained momentum at the beginning of the year, driven by services and private consumption, despite concerns about struggling exporters. The gross domestic product grew by 0.3% compared to the previous quarter, surpassing the government's initial estimate of 0.2%, with private consumption expanding by 0.4%. While manufacturing showed a slight decline, the services sector was the main driver of GDP growth. The Swiss National Bank's monetary policy stance and a declining franc against the euro may help boost exports, although the SNB anticipates modest growth in the upcoming quarters.
Source: YAHOO
Reported 6 months ago
Barclays Plc is observing signs indicating that the long dry spell in IPOs may be ending as investors and corporate leaders gain more clarity on central banks' plans to lower interest rates. Barclays, which recently assisted CVC Capital Partners Plc in raising €2.3 billion in Europe's third-largest IPO this year, anticipates more IPO activity from clients. Despite ongoing uncertainty in the US regarding Federal Reserve rate cuts, the potential divergence between US and European rates could attract investors to Europe. Barclays is expected to see an increase in equity underwriting revenue in the second quarter, driven by recent high-profile deals and the growing interest in artificial intelligence-related investments.
Source: YAHOO
Reported 6 months ago
Spanish inflation increased for the third consecutive month as government support to mitigate the energy crisis was rolled back, leading to higher prices. In May, inflation in Spain reached 3.8% from a year ago, up from 3.4% in April, slightly surpassing economists' median estimate of 3.7%. Core inflation, excluding energy and some food costs, also rose to 3% from 2.9%. This trend mirrors a similar acceleration in Germany and is expected to continue in the eurozone. The European Central Bank plans to lower its deposit rate next week, despite projections of disinflation in the coming years. The rise in Spanish inflation is primarily attributed to unfavorable base effects from energy and is not a major concern, with underlying price gains expected to fall below 2% later in the year.
Source: YAHOO
Reported 6 months ago
Source: BARRONS
Reported 6 months ago
Dear Abby advises a woman who has been dating her boyfriend for six years but he hasn't proposed. She feels the need for a commitment but struggles with the decision to stay or leave. Abby suggests having a candid discussion with her boyfriend to clarify their feelings and needs, without necessarily requiring therapy but instead advocating for honesty with oneself. In another letter, Abby comforts a woman who feels abandoned by her siblings after her husband's death, highlighting the importance of self-protection and not rushing to 'get over' such emotional wounds.
Source: YAHOO
Reported 6 months ago
European police agencies coordinated a massive operation called Endgame to take down ransomware networks responsible for spreading malware through infected emails, resulting in the arrest of four key suspects and the seizure of more than 100 servers and control of over 2,000 internet domains. The operation involved multiple countries and Europol stated that it was the largest international effort against this type of cybercrime. The operation targeted various malware "droppers" and garnered praise for demonstrating the effectiveness of international cooperation in combating cybercriminal activities.
Source: YAHOO
Reported 6 months ago
Columbia University's Takatoshi Ito predicts that the Bank of Japan may raise interest rates twice more in 2024, reaching 0.25% and 0.5%, emphasizing a cautious approach to avoid directly addressing the weak yen. Despite speculation surrounding the yen's weakness potentially prompting earlier action, Ito warns against such measures due to potential negative impacts on the domestic economy. The BOJ's next policy meeting on June 14 is expected to maintain rates, with focus on potential adjustments to bond purchasing operations or hints at quantitative tightening, as Japan's 10-year bond yields have risen to 1.1%.
Source: YAHOO
Reported 6 months ago
Heart has canceled their upcoming European tour to allow singer Ann Wilson time to recover from a medical procedure. The band's Royal Flush tour, scheduled from June 20 to July 12, has been scrapped, with refunds available at point of purchase. Wilson will undergo a procedure with a minimum recovery time of six weeks, and the band hopes to return to Europe soon. Heart will resume touring in the U.S. and Canada on July 30.
Source: YAHOO
Reported 6 months ago
Saudi Arabia is increasing its bond issuance to help finance Crown Prince Mohammed bin Salman's ambitious projects aimed at transforming the economy. Despite a 10% increase in crude oil prices this year, the country is facing a fiscal squeeze and has issued $17 billion in international debt sales in 2024, more than any other emerging-market sovereign. The government has also increased its local debt sales, totaling $25.5 billion in riyal notes. Analysts anticipate further bond issuances by Saudi Arabia to meet its spending needs, as it strives to fund large-scale projects through borrowing amidst lower-than-ideal crude oil prices.
Source: YAHOO
Reported 6 months ago
Amazon is expanding its food delivery services by enhancing its partnership with Grubhub. Through this collaboration, Amazon Prime members will have free access to Grubhub+ services, offering free deliveries and lower service fees. This move aims to strengthen Amazon's food offerings and diversify its membership benefits, positioning Prime as a comprehensive subscription service. While the possibility of Amazon acquiring Grubhub remains uncertain, this partnership highlights Amazon's efforts to provide convenience and value to its customers, amidst increasing competition in the subscription and bundled services market.
Source: YAHOO
Reported 6 months ago
William H. Macy expressed his aversion to over-the-top violence in films, stating that killing multiple people in movies is equivalent to "porn" and lacks dramatic impact. He proposed a unique show idea where a character is shot but survives, showcasing the real-life consequences of violence. Macy criticized the film industry for its unrealistic portrayal of violence, emphasizing the importance of authenticity in storytelling. He also discussed his writing process for a Western film and shared his favorite comedic moments from movies.
Source: YAHOO
Reported 6 months ago
Four individuals have been arrested in Ukraine and Armenia, and over 100 internet servers have been taken down or disrupted in a major operation targeting international cybercrime, impacting thousands of people, as announced by Europol. The operation, named "Operation Endgame," was led by France, Germany, and the Netherlands, with the involvement of other countries like the UK, US, and Ukraine. It dismantled several botnets involved in deploying ransomware, including IcedID, Smokeloader, SystemBC, Pikabot, and Bumblebee, resulting in significant economic damage that affected thousands of victims who will now be alerted to protect themselves from future attacks. One suspect reportedly earned €69 million ($75 million) in cryptocurrency by leasing criminal infrastructure for ransomware deployment.
Source: YAHOO
Reported 6 months ago
India's power demand hit a new record of 246 gigawatts on May 29 due to extreme heat, marking the fastest growth in consumption among major economies. Some power shortages were reported during evening hours without solar generation, but day-time demand was met. The government has revived gas-fired power stations to meet the surging consumption, leading to a 12% increase in gas demand. The increasing demand for electricity, driven by economic expansion and power-intensive appliances like air conditioners, has prompted the government to order more coal-fired power plant capacity, potentially impacting emissions reduction targets.
Source: YAHOO
Reported 6 months ago
A recent study warns that large US banks may have a significant blind spot when it comes to their exposure to commercial property due to the credit lines and term loans they provide to real estate investment trusts (REITs). Researchers suggest that the exposure of big banks to commercial real estate lending increases by about 40% when considering indirect lending to REITs. The study highlights the potential risks posed by these indirect exposures and calls for better incorporation of REIT exposure in stress tests conducted on bank capital.
Source: YAHOO
Reported 6 months ago
Source: BARRONS
Reported 6 months ago
Singapore plans to increase power allocation for data centers by up to 35%, aiming to free up about 300 megawatts of capacity in the short term through resource allocation and efficiency improvements, with a potential additional 200 megawatts from partnerships with clean energy providers. Currently, data centers in Singapore require 1,400 megawatts of power capacity, with the city-state attracting data center developers in Asia due to its strategic location and business-friendly environment. However, the reliance on imported natural gas for over 90% of power generation raises concerns about increased pollution, prompting efforts to enhance efficiency and incorporate green energy solutions to mitigate emissions.
Source: YAHOO
Reported 6 months ago
Google announced a $2 billion investment in Malaysia to establish its first data center and a Google Cloud hub, following Microsoft's commitment of $2.2 billion for cloud and AI infrastructure in the country. Malaysian Prime Minister Anwar Ibrahim welcomed Google's investment, anticipating a $3.2 billion economic boost and 26,500 job creations by 2030. The new hubs will be in Selangor state, focusing on cloud services and AI literacy programs, making Malaysia the 12th country with a Google data center. The investment aligns with Malaysia's 'Cloud First Policy' and cybersecurity standards.
Source: YAHOO