Reported 4 months ago
Source: WSJ
Reported 4 months ago
Japan's SoftBank Group announced its first annual profit in four years, reporting a profit of 1.15 trillion yen ($7.78 billion) for the year ending in March, a significant recovery from the previous year's loss. This turnaround is attributed to strong performance in telecommunications and increased valuations of startups, despite ongoing challenges from market volatility and U.S. tariffs. SoftBank is currently expanding its investment portfolio, particularly in artificial intelligence and related technologies.
Source: YAHOO
Reported 4 months ago
Source: BARRONS
Reported 4 months ago
Source: BARRONS
Reported 4 months ago
According to Bank of America's global fund manager survey, asset managers are currently holding their largest underweight position in the US dollar in 19 years, primarily due to the impact of President Trump's trade policy on investor confidence. The survey indicated a slight improvement in sentiment following a temporary trade truce between the US and China, with a reduction in cash levels among fund managers, though concerns about a potential economic downturn remain.
Source: YAHOO
Reported 4 months ago
TransMedics Group, Inc. (TMDX) has emerged as one of the top-performing healthcare stocks, with a year-to-date performance of 78.83%. The company specializes in medical technologies for organ preservation and transplantation. Following favorable analyst updates, including a price target increase to $105, TMDX is seen as a revolutionary player in its field. An executive order from President Trump aimed at reducing drug prices further strengthens the healthcare sector, providing a promising backdrop for TMDX's growth.
Source: YAHOO
Reported 4 months ago
Source: WSJ
Reported 4 months ago
The US is projected to face a staggering loss of $12.5 billion in travel revenue by 2025, as visitor spending is expected to drop below $169 billion, reflecting a 7% year-over-year decline and a 22% decrease since the tourism peak in 2019. The decline is attributed to lingering effects of COVID-19 protocols, a strong dollar, and changing sentiments towards travel to the US. Major tourist markets are experiencing significant drops, with New York City anticipating 400,000 fewer tourists and $4 billion less in spending than the previous year. Recovery to pre-COVID levels may not occur until 2030.
Source: YAHOO
Reported 4 months ago
Source: WSJ
Reported 4 months ago
India is contemplating imposing import duties on certain U.S. products as a retaliatory measure against U.S. tariffs on steel and aluminum, as indicated in a recent World Trade Organization document. The U.S. had previously imposed a 25% levy on these metals, affecting Indian exports valued at $7.6 billion. As part of ongoing trade negotiations, India aims to reduce its tariff gap with the U.S. while also enforcing its tariffs on cheap steel imports.
Source: YAHOO
Reported 4 months ago
Source: WSJ
Reported 4 months ago
Source: BARRONS
Reported 4 months ago
CATL, the battery giant, is set to conduct the world's largest listing in 2025, offering banks underwriting fees significantly lower than industry standards, with fixed commissions at just 0.2% of proceeds. This move highlights the tough conditions for investment banks in Hong Kong, where a recent upswing in trading may signal a recovery in large issuances despite a multi-year deal slump. The competitive bid for underwriting roles has led banks to accept slimmer margins in hope of future opportunities.
Source: YAHOO
Reported 4 months ago
Nissan Motor has announced it will temporarily suspend operations at certain domestic plants as part of a restructuring plan, according to a report by Nikkei. The exact factories affected and the nature of their closures are yet to be determined. In addition to this, Nissan plans to cut over 10,000 jobs worldwide, raising total layoffs to about 20,000, which is 15% of its workforce. The automaker anticipates a significant financial loss, projecting a net loss of up to 750 billion yen for the past business year.
Source: YAHOO
Reported 4 months ago
Understanding whether you are liable for your spouse’s credit card debt depends on your state’s laws, your relationship to the card account, and situations such as divorce or death. In common law states, typically only joint account holders or co-signers can be held accountable, while in community property states, both spouses may share liability for debts incurred during marriage. It's essential to discuss finances openly with your partner and consider legal frameworks like prenuptial agreements to protect yourself.
Source: YAHOO
Reported 4 months ago
The European Central Bank (ECB) plans to maintain its aggressive stimulus strategies from the past decade during its ongoing strategy review, despite high inflation and recent financial losses prompting calls for self-criticism. Policymakers are showing support for previous measures such as quantitative easing, with only minor expected adjustments to the strategy document, last updated four years ago. Although some governors desired a more critical evaluation, the review is set to affirm the need for forceful actions in future economic challenges while addressing the complexities of interest rate guidance.
Source: YAHOO
Reported 4 months ago
Goldman Sachs has raised its three-month target for the S&P 500 to 5,900, reflecting optimism over reducing trade tensions between the US and China, despite ongoing economic uncertainties. They foresee a potential rise to 6,500 in the next 12 months, driven by improved expectations for Big Tech stocks, although caution remains due to concerns about profit margins and market pricing. UBS has also downgraded US stocks to neutral, indicating a more balanced risk-reward outlook for investors.
Source: YAHOO
Reported 4 months ago
A summary of the Bank of Japan's recent policy meeting indicates that some board members believe there is potential to resume interest rate hikes after a pause, depending on the stabilization of U.S. tariffs. Despite concerns about U.S. tariffs impacting Japan's economy, some members noted that these issues might not derail the BOJ's goal of achieving a 2% inflation target. The bank maintained steady interest rates at 0.5%, cutting growth forecasts due to uncertainties, while noting that economic conditions could change rapidly based on developments in U.S. trade policy.
Source: YAHOO
Reported 4 months ago
The dollar maintained its strong position on Tuesday after a tariff reduction deal was reached between the United States and China, alleviating fears of a global recession tied to the trade war. Investors responded positively, leading to a rally in global markets. The dollar surged against major currencies like the yen and euro, as traders adjusted their expectations regarding the Federal Reserve's monetary policy amid decreased trade tensions.
Source: YAHOO
Reported 4 months ago
Consumer sentiment in Australia showed a partial recovery in May as the initial impact of U.S. tariffs diminished, aided by a recent truce with China. According to a Westpac-Melbourne Institute survey, the consumer sentiment index rose by 2.2% in May, recovering from a sharp decline in April. The index remains 12% higher than last year, though pessimists still outnumber optimists. Sentiment among Labor voters increased significantly after their election victory, while confidence among Liberal National supporters dropped slightly. Overall, people's optimism about their finances and willingness to purchase big-ticket items improved.
Source: YAHOO
Reported 4 months ago
House Republicans have introduced a plan to eliminate the electric vehicle (EV) tax credit and repeal fuel efficiency regulations as part of a tax reform initiative. The proposal would end a $7,500 credit for new vehicles and a $4,000 credit for used vehicles by the end of the year, although some automakers could retain benefits for an additional year. Critics warn this move could disadvantage U.S. manufacturers against international competitors, particularly in the EV sector. Further, the plan also seeks to terminate a loan program supporting advanced technology vehicle manufacturing.
Source: YAHOO
Reported 4 months ago
Oil prices saw a slight increase after a pause in tariffs between the U.S. and China, but gains were limited by rising supply. Brent crude rose 1% to $65.61, while West Texas Intermediate climbed 1.2% to $62.67. Analysts caution that increased OPEC+ output and stable Saudi oil supplies may cap further price rises, despite strong demand for refined fuels.
Source: YAHOO
Reported 4 months ago
BDx Data Centers has obtained project financing from Clifford Capital, United Overseas Bank, and Sumitomo Mitsui Banking Corporation for its first hyperscale data centre in Hong Kong. This marks BDx's entrance into the Hong Kong market and follows previous financing efforts in Singapore and Indonesia. The funds will support the development and operations of the new facility in Kwai Chung, amidst growing investor interest in data centres across Asia driven by AI and cloud computing demands.
Source: YAHOO
Reported 4 months ago
Samsung has launched its ultrathin Galaxy S25 Edge smartphone for preorder at $1,099, ahead of Apple's anticipated 'iPhone Air.' With a thickness of just 5.8 millimeters and a 6.7-inch AMOLED display, the S25 Edge is designed to be both lighter and thinner than current models from both companies. It features a Qualcomm Snapdragon 8 Elite processor, 12GB of RAM, and offers a 200MP main camera along with a 12MP ultra-wide lens. The S25 Edge is set to go on sale on May 30.
Source: YAHOO