Philippines Says Power Outages Hit Parts of Main Luzon Island
Power outages affected parts of the Philippines’ main Luzon island on Monday after a transmission line and a power plant tripped, the Department of Energy said.
Bloomberg Business
Singapore TV Licensing Startup Allrites to Merge With Aura SPAC
Allrites Holdings Pte, a Singaporean film and television content rights marketplace, has agreed to go public through a merger with US-listed blank check firm Aura FAT Projects Acquisition Corp.
California’s Port Dominance Is Slipping as US Cargo Shifts East
California has suffered a series of economic blows this year, from torrential rains that inundated farmland to the failure of three regional banks. Now the state’s $2.8 trillion freight industry is under threat.
Taiwan’s Exports Fall at Slower Pace in Sign of Bottoming Out
Taiwan’s exports fell in April at a slower pace than the month before, in a sign that the deep global slump in demand for electronics may be bottoming out.
Occidental Drops After Buffett Said Not Seeking Full Control
Shares in Occidental Petroleum Corp. dropped in premarket trading after Warren Buffett said Berkshire Hathaway Inc. won’t make an offer for full control of the energy group, tempering speculation he was seeking to own the company after spending months snapping up its shares.
Binance Restarts Withdrawals of Bitcoin After Second Halt
Binance restarted withdrawals of Bitcoin after citing congestion on the token’s blockchain for two halts in less than 12 hours, suspensions that weighed on cryptocurrency markets.
Best of India Bond Rally May Be Over With Sales Deluge Coming
A rally in India’s sovereign bonds may end soon, as traders shift their focus to upcoming heavy debt issuances from the positive impact of the central bank pausing its rate hikes.
World Markets Face ‘Minsky Moment’ Danger, Allianz Says
Investors should brace for months of market readjustments overshadowed by the threat of a new “financial accident,” according to Allianz chief economist Ludovic Subran.
Adani Units May Drop Out of MSCI Index on Review, Analyst Says
Adani’s electric utility service and city gas distribution units may drop out of MSCI Inc.’s India gauge this month, potentially spurring a $500-million selloff by passive funds, according to Smartkarma.
MakeMyTrip Adds AI Voice Chat to Lure More India Travelers
India’s largest online travel-booking service is rolling out a voice chat service powered by artificial intelligence, becoming the country’s first major company to harness recent advances in generative AI.
