World

How Wall Street is preparing for possible US debt default

As talks over raising the U.S. government's $31.4 trillion debt ceiling go down to the wire, Wall Street banks and asset managers have been preparing for the fallout from a potential default.

China fails Micron's products in security review, bars some purchases

China's cyberspace regulator said that products made by U.S. memory chipmaker Micron Technology had failed its network security review and it would bar operators of key infrastructure from buying from the company.

OpenAI brings ChatGPT app to your smartphone

OpenAI Inc. is bringing its ChatGPT generative AI tool to smartphones for the first time, releasing an iPhone version on Thursday and promising a service for Android devices in the future.

Fears of global downturn grow over banking turmoil, higher rates

Turmoil in the financial system, from the collapse of Silicon Valley Bank to heavy debts in China's property sector, is fueling concerns of a global downturn even as some economic conditions improve.

Montana becomes first U.S. state to ban TikTok

Montana Governor Greg Gianforte signed legislation to ban the Chinese-owned short video app TikTok from operating in the state, making it the first U.S. state to ban the popular short video app.

China consumer prices rose 0.1% in April, slowest rate in 2 years

China's consumer prices rose at the slowest pace in more than two years in April, while factory gate deflation deepened, suggesting more stimulus may be needed to boost patchy post-COVID economic recovery.

EU targets eight Chinese companies in Russia sanctions push

EU is considering sanctioning eight Chinese companies over Russia’s war in Ukraine with the bloc looking to target firms they believe have provided Moscow electronic items, including semiconductors.

China's local governments struggle with hidden debt

Tackling the mountain of hidden debt accumulated by China's local governments is, once again, at the top of the political agenda.

ECB raises rates by 25 basis points to 3.25% in inflation fight

ECB raised interest rates by 25 basis points to 3.25% as expected and said it would stop reinvesting cash from maturing debt in its 3.2 trillion euro Asset Purchase Programme from July.

Fed delivers quarter-point rate hike, hints at pause in tightening

The Federal Reserve raised interest rates by a quarter of a percentage point and signaled it may pause further increases, giving officials time to assess the fallout from recent bank failures.

World Bank board elects US nominee Ajay Banga as president

WB's board of governors elected former Mastercard CEO Ajay Banga to a five-year term as president.

China's Ding Liren defies odds to become world chess champion

China's Ding Liren was crowned as the 17th world chess champion in a tense match against Russian-born Ian Nepomniachtchi in Astana, Kazakhstan, in the last chapter of an odds-defying sequence of events.

Samsung flags H2 recovery after $3.4 billion chip loss in Q1

Samsung flagged a gradual recovery for chips in the second half of the year after its semiconductor business reported a record $3.4 billion loss on Thursday.

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World

El Nino seen posing larger risk for robusta coffee, less to arabica

Unilever to expand telemedicine services in Indonesia, Vietnam

Indian rupee poised to weaken after central bank pulls 2,000-rupee notes