Tag: Business
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BOJ expected to raise interest rates in June, sources say
TOKYO, June 4 : The Bank of Japan is expected to raise interest rates this month unless a sharp escalation in the Middle East conflict upends markets, three sources said, as rising fuel costs from the energy shock add to mounting inflationary pressure in the economy.With hostilities flaring anew in the Iran w
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Oil falls as Lebanon and Israel agree on a ceasefire
BEIJING/PERTH, June 4 : Oil prices fell on Thursday as a ceasefire deal between Israel and Lebanon boosted hopes for a broader agreement to end the U.S.-Israeli war with Iran that could lead to a reopening of the Strait of Hormuz.Brent futures were down 87 cents, or 0.89 per cent, at $96.92 a barrel by…
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Meta repeatedly pushes back new AI model release for developers, WSJ says
June 3 : Meta has repeatedly pushed back plans to release its new Muse Spark AI model API to developers, and as of Tuesday, had no scheduled launch date, the Wall Street Journal reported, citing people familiar with the matter. A Meta spokesperson told Reuters on Wednesday that the company is already testing
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Indonesia passes sweeping bill expanding central bank role to spur growth
JAKARTA, June 4 : Indonesia’s parliament on Thursday passed sweeping legislation that places further emphasis on Bank Indonesia supporting economic growth, while empowering lawmakers to evaluate independent financial regulators and the central bank.Parliament passed the bill by acclamation, with support from
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Dollar clings to 2-month high as Gulf hostilities flare, yen wobbles near intervention zone
HONG KONG, June 4 : The dollar clung to its recent strength near a two-month high on Thursday as fresh Gulf hostilities sent oil prices higher and sapped risk appetite, while the Japanese yen hovered near the key 160 level that kept traders on intervention alert. Iranian attacks on Kuwait damaged its airport
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Honeywell’s Quantinuum raises $1.68 billion in US IPO as quantum computing heats up
June 3 : Honeywell’s Quantinuum said on Wednesday it has raised $1.68 billion in its U.S. initial public offering after pricing shares at $60 apiece, as investors flocked to one of the market’s fast-growing emerging technology sectors.Broomfield, Colorado-based Quantinuum sold 28 million shares in the offerin
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SpaceX sets US$135 price for blockbuster IPO, upending Wall Street convention
SpaceX is aiming to raise US$75 billion, the most ever for an IPO, in a deal that would value it at US$1.75 trillion, immediately placing it among the top 10 most valuable US-listed firms.
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South Korea finance minister vows response to financial market volatility
SEOUL, June 4 : South Korea’s finance minister said on Thursday authorities would closely monitor risks around domestic stock, bond and foreign exchange markets and take measures to curb excessive volatility.”Minister Koo Yun-cheol emphasised he will immediately take necessary measures to respond to excessive
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SMFG aims to double sales and trading revenue to $5 billion, markets head says
TOKYO, June 4 : Japan’s Sumitomo Mitsui Financial Group is aiming to double revenue in its sales and trading business to 800 billion yen ($5 billion) within the next few years, its head of global markets said, as the bank seeks to catch up with its rivals.Rising interest rates, currency swings and record stoc
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Meta accuses Australia of breaching FTA, invokes US ‘trade action’
SYDNEY, June 4 : Meta accused Australia of violating a free trade agreement with the U.S. by proposing a new tax on certain tech giants which do not strike licensing deals with local media, escalating a dispute which has simmered for half a decade.The $1.6 trillion Facebook and Instagram owner said a proposal
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