AFP

Wall Street stocks finished a meandering session higher Monday, shrugging off Moody’s downgrade of US sovereign debt, which could balloon further.Yields of US Treasury bonds spiked early in the day in a dynamic that revived talk of the “Sell America” narrative that unsettled markets in early April following President Donald Trump’s sweeping tariff announcements.But US …

US stocks edge higher while dollar dips after Moody’s downgrade Read More »

Chinese tech giant Xiaomi will invest 50 billion yuan ($6.9 billion) in developing high-end smartphone chips, the firm’s founder said on Monday.Xiaomi, which sells goods from smartphones to vacuum cleaners and EVs, is one of China’s most prominent consumer electronics firms.”Chips are the underlying core track for Xiaomi to break through in cutting-edge technology, so …

China’s Xiaomi to invest nearly $7 bn in chips Read More »

Nvidia boss Jensen Huang announced plans for Taiwan’s first “AI supercomputer”, as he showcased on Monday the company’s latest advances in artificial intelligence.Global chip giants have gathered in Taiwan for the island’s top tech expo, Computex, as the sector grapples with the impact of US tariffs and disrupted supply chains.Huang said Nvidia would work with …

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Asian stocks fell with the dollar Monday after Moody’s removed the United States’ last gold standard sovereign bond rating, citing the growing debt pile that it warned could balloon further.The move dealt a blow to markets, which had enjoyed a healthy run-up last week after Washington and China hammered out a deal to temporarily slash …

Asian markets drop after US loses last triple-A credit rating Read More »

Factory output in China grew at a faster rate than expected last month, official data showed Monday, weathering a brutal trade war with Washington.Industrial production in the export powerhouse grew 6.1 percent on-year in April, according to figures published by the National Bureau of Statistics (NBS).The reading was higher than the 5.7 percent forecast in …

China factory output beats forecasts, weathering tariffs Read More »

Wall Street stocks rose again Friday, adding to weekly gains fueled by deescalation of the China-US trade war and hopes for additional international trade deals.Equity markets have enjoyed one of their best weeks since US President Donald Trump’s “Liberation Day” tariff bazooka last month caused indices to slump.FHN Financial’s Chris Low also pointed to a …

US stocks add to weekly gains amid trade deal optimism Read More »

A Thai construction tycoon turned himself in on Friday to face charges of alleged negligence over the collapse of a skyscraper that killed dozens of people in a powerful earthquake, police said.The 30-storey Bangkok tower crumbled in seconds, killing 89 people, mostly construction workers, when a magnitude-7.7 tremor hit neighbouring Myanmar on March 28.The building …

Thai tycoon surrenders over deadly skyscraper collapse Read More »