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Tokyo recovers some losses as most Asian markets rise
Tokyo stocks rose Tuesday, recovering some of the losses suffered in the previous day's rout, as the yen weakened against the dollar, while most other Asian markets started the day on a positive note following another record on Wall Street. All three main indexes on Wall Street rose, with the Dow chalking up another record, and most of Asia followed suit.
Qatar Airways seeking 25% stake in Virgin Australia
Qatar Airways unveiled a bid to take a 25 percent stake in troubled airline Virgin Australia on Tuesday, a deal that could shake up Australia's Qantas-dominated market. That could significantly shake up Australia's air travel market which is currently dominated by Qantas, a pseudo-flag carrier beset by allegations of price gouging and deliberate overbooking.
US port officials gird for strike as labor talks stay stuck
Officials at 14 ports along the US East and Gulf coasts were making last-minute preparations on Monday for a likely labor strike that could drag on the US economy just ahead of a presidential election. - At Monday's news conference, New York officials emphasized that they have been preparing for a likely US dockworkers strike.
US Fed Chair sees 'further disinflation' in economy
The United States is set to see inflation cool further towards policymakers' target, Federal Reserve chair Jerome Powell said Monday, with interest rates likely to come down over time, too. Powell's speech comes more than a week after the Federal Reserve slashed interest rates by half a percentage point, marking its first reduction since 2020.
Epic Games sues Google and Samsung over app store
"Fortnite"-maker Epic Games is suing tech giants Google and Samsung, it announced Monday, accusing them of illegally colluding to block competition on Samsung devices. Epic, the company behind the hugely popular "Fortnite" video game, is asking the court to prohibit what it calls anti-competitive conduct and mandate that Samsung remove Auto Blocker as the default setting on its devices.
Officials see no shortages from likely US port strike
New York officials said on Monday they were prepared for a likely US dockworkers strike, reassuring consumers that they would not lose access to food and other essential goods. "We don't anticipate shortages of essential goods anytime soon," said state Governor Kathy Hochul.
Shares in Stellantis, Aston Martin skid on profit warnings
Shares in Jeep-maker Stellantis and Britain's Aston Martin tumbled on Monday after both companies joined European rivals in cutting their profit forecasts. - China effect - Aston Martin also cited the Chinese market as it trimmed its financial guidance for 2024, saying its core profit is now expected to be "slightly below" the previous year's.
ECB chief backs bank mergers amid UniCredit, Commerzbank talk
ECB chief Christine Lagarde said Monday that cross-border banking mergers in Europe were "desirable" to boost their competitiveness, despite mounting German opposition to a potential tie-up between Commerzbank and Italy's UniCredit.
California governor vetoes AI safety bill
California Governor Gavin Newsom has vetoed a bill aimed at regulating powerful artificial intelligence models following pushback from tech giants and critics who argued the law went too far.
AFP
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