North Korea Threatens to Shoot Down US Spy Planes
North Korea accused US spy planes of violating its air space and threatened to shoot them down, ramping up tensions just before NATO leaders meet this week in Lithuania for their annual summit.
Bloomberg Business
Millions of Chinese Staying Home Curb Southeast Asian Growth
Southeast Asian nations that were counting on Chinese travelers to drive tourism revenues and their economies post-Covid are finding the flow of visitors far from the flood they were hoping for.
Slow-Moving Storm Puts NYC, East Coast Under Flood Threat
New York City and the eastern US braced Sunday for severe thunderstorms as a creeping weather front drags across the region and raises the risk of flooding from Vermont to North Carolina.
Banks to Brighten India Company Earnings Amid IT Uncertainties
Banks and consumer companies are expected to drive first-quarter earnings in India boosted by accelerating economic activity, easing input costs and decade-low bad loans at lenders, while the outlook for the nation’s software exporters is clouded by global headwinds.
Hedge Funds Abandon Bullish Dollar Bets on Peak Fed Speculation
Hedge funds have swung to an overall bearish dollar bet for the first time since March on a wager the Federal Reserve is finally approaching the end of its interest-rate hiking cycle.
RBA’s Ellis to Replace Westpac’s Evans in Economics Overhaul
Westpac Banking Corp.’s Bill Evans will switch out of the chief economist role he has held for more than 30 years and be replaced by Reserve Bank Assistant Governor Luci Ellis, in a significant change for both institutions.
Yellen’s China Trip Leaves No Doubt Pan’s in Charge of PBOC
During Janet Yellen’s trip to Beijing, US officials sowed confusion over the role of Pan Gongsheng, who was named party chief of the People’s Bank of China just days earlier. By the end of her visit, one thing was clear: He’s now firmly in charge of the central bank.
Rapid Descent in Ringgit Puts Malaysia’s Currency Stance to Test
The ringgit’s tumble toward a 24-year low is raising expectations that Bank Negara Malaysia will step in to arrest the decline.
Singapore Property Stamp Duty Collected Fell 12% From Record, Report Says
Singapore’s property stamp duty collections dropped 12% to S$5.95 billion ($4.42 billion) in the financial year ended March 2023, the Business Times reported Monday, citing government data.
Yamaha President Stresses Hydrogen as Clean Option for Future
Yamaha Motor Co. is backing hydrogen as a clean and viable option for reaching carbon neutrality and will develop it as a source of fuel, President and Chief Executive Officer Yoshihiro Hidaka said.
