Reported 26 days ago
President Trump will delay the TikTok ban once more, granting an additional 90-day extension, according to the White House. The decision comes as Trump aims to negotiate a deal to ensure the app remains operational while safeguarding American users' data. This follows a previous extension due to ongoing legal challenges regarding the ban upheld by the U.S. Supreme Court.
Source: YAHOO
Reported 26 days ago
Indian Prime Minister Narendra Modi has disputed U.S. President Donald Trump's assertion that trade deals were involved in achieving a recent ceasefire with Pakistan, amid rising tensions in the India-U.S. relationship. During a phone call, Modi clarified that there were no negotiations about U.S.-India trade deals or mediation between India and Pakistan during the conflict. Modi's comments reflect growing frustration in India regarding Trump's portrayal of the relationship between the two nations, particularly concerning terrorism and military conflicts.
Source: YAHOO
Reported 26 days ago
Source: BARRONS
Reported 26 days ago
Source: YAHOO
Reported 26 days ago
Source: YAHOO
Reported 26 days ago
OpenAI CEO Sam Altman revealed that Meta Platforms offered signing bonuses up to $100 million to attract staff from the AI company, amidst frustration over its own AI advancements. Speaking on his brother's podcast, Altman expressed satisfaction that none of OpenAI's top talent have accepted the offers, highlighting Meta's perception of OpenAI as a major competitor.
Source: YAHOO
Reported 26 days ago
Source: BARRONS
Reported 26 days ago
Source: WSJ
Reported 26 days ago
Former NFL quarterback Robert Griffin III expressed his shock after receiving only $6.9 million of a $14 million signing bonus due to taxes. In a recent podcast, Griffin revealed his lack of financial literacy at age 22, highlighting a common issue among athletes unprepared for sudden wealth. This incident underscores the importance of financial education and the need for support from financial professionals to avoid costly missteps.
Source: YAHOO
Reported 26 days ago
The Federal Reserve has decided to keep interest rates steady but has indicated potential cuts by the end of 2025, amid rising concerns of inflation due to planned import tariffs. Chair Jerome Powell cautioned that economic conditions remain uncertain, with inflation expected to increase as tariffs impact consumer prices. Despite the Fed's positive outlook on the labor market, projections suggest slow growth and higher unemployment rates ahead, prompting a cautious approach to future rate cuts.
Source: YAHOO
Reported 26 days ago
Source: WSJ
Reported 26 days ago
DBS Group aims to double its Australian lending book from A$11 billion to A$20 billion within the next five years, according to CEO Tan Su Shan. This initiative is part of the bank's strategy to strengthen trade links between Australia and Southeast Asia. The bank has signed an agreement with Austrade to enhance trade and investment opportunities between Australian and Southeast Asian businesses, with a focus on companies from Singapore, Indonesia, Malaysia, and Vietnam.
Source: YAHOO
Reported 26 days ago
Source: YAHOO
Reported 26 days ago
Global stock markets showed mixed reactions as investors awaited the Federal Reserve's interest rate decision, which is expected to leave rates unchanged. While the S&P 500 and Dow futures saw slight gains, Asian markets displayed varying results, with Japan's Nikkei rising and the Hang Seng index falling. Oil prices dipped slightly amid ongoing geopolitical tensions, and Bitcoin saw a modest uptick following stablecoin regulation news.
Source: YAHOO
Reported 26 days ago
Elon Musk's AI startup, xAI, is in discussions to raise $4.3 billion in equity financing, adding to the $5 billion already sought from debt investors. The company is experiencing significant cash burn, costing approximately $1 billion monthly to develop its AI models, with a projected $13 billion expenditure in the current year. With expectations of only $500 million in revenue this year, xAI hopes that its merger with Twitter could help offset costs by providing cheaper access to content for training data.
Source: YAHOO
Reported 26 days ago
Oil prices have increased by over 4% due to the ongoing conflict between Israel and Iran, which has raised concerns about potential disruptions in oil production and shipping. Analysts warn that if Iranian exports are significantly impacted, global oil prices could rise significantly, with projections suggesting Brent crude could reach up to $80 or even $120 per barrel under severe conditions. The Strait of Hormuz, a critical shipping route for a third of the world’s oil, stands at risk of disruption, further escalating the situation.
Source: YAHOO
Reported 26 days ago
Bond investors are increasingly turning to stable Asian debt markets, with Malaysia leading in foreign inflows, reaching approximately $3.15 billion in the past month alone. The trend is driven by low inflation, attractive yields amidst peak policy rates, and a weakening U.S. dollar, creating a favorable investment environment for Asian emerging markets. Countries like India and Indonesia are also witnessing significant interest as investors lock in yields ahead of anticipated rate cuts in the U.S. economy.
Source: YAHOO
Reported 26 days ago
China's central bank governor has announced plans to enhance the international use of the digital yuan and advocated for a multi-polar currency system to reduce reliance on the US dollar amid rising global trade tensions. This initiative includes establishing an international operation center for e-CNY in Shanghai and expanding connections with foreign banks to facilitate yuan-based transactions, reflecting China's ambition to position the yuan as a global currency while diversifying its financial systems away from Western dominance.
Source: YAHOO
Reported 26 days ago
The Bank of Japan (BOJ) has indicated that while it may pause interest rate hikes for now, there remains room for action this year due to rising inflationary pressures, particularly from food and fuel prices. BOJ Governor Kazuo Ueda warned that these factors could contribute to broader inflation, suggesting the possibility of rate adjustments in the future. Economic watchers predict that an increase in core consumer inflation could trigger a reassessment of the BOJ's price forecasts, potentially setting the stage for a rate hike by October.
Source: YAHOO
Reported 26 days ago
Japanese Prime Minister Shigeru Ishiba's attempt to persuade U.S. President Donald Trump to ease tariffs threatening Japan's economy fell short during the G7 summit in Canada. Ishiba aimed to address a 25% tariff on imported cars, vital for Japan's auto industry, but the meeting yielded no progress, casting doubt on Ishiba's diplomatic efforts ahead of a crucial election. With Trump indicating limited willingness to negotiate, Ishiba now faces the challenge of maintaining political stability amid rising economic pressures worsened by impending tariffs.
Source: YAHOO
Reported 26 days ago
The Bank of Korea has indicated that U.S. tariffs may create domestic downward price pressures as more Chinese goods are diverted to neighboring markets. In its latest inflation report, the central bank maintained that inflation is expected to stay below the 2% target due to weak domestic demand, while noting that high export reliance on both the U.S. and China may exacerbate price declines. Furthermore, the bank emphasized the need for structural reforms in the retail sector to alleviate persistent food price inflation affecting consumer purchasing power.
Source: YAHOO
Reported 26 days ago
Retail sales experienced a significant drop in May as consumers reduced spending following a surge in March, which was largely driven by concerns over President Donald Trump’s impending tariffs on nearly all imports.
Source: YAHOO