Latest Business News
Trump Travels to China with Nvidia CEO Jensen Huang for Xi Summit
President Trump is en route to Beijing for a high-stakes summit with Xi Jinping, joined by Nvidia CEO Jensen Huang on Air Force One, spotlighting AI discussions. Tech stocks like Nvidia rose 2% as markets react positively ahead of trade talks.
US CPI Inflation Hits Highest Level Since 2023 in April
US inflation accelerated sharply in April due to soaring gasoline and grocery prices linked to the Iran war, exceeding wage growth and pushing bond yields higher. CPI data sent stocks lower yesterday, with core inflation bleeding in.
Oil Prices Slip After Three-Day Rally Amid Iran Ceasefire Hopes
Brent crude fell 1.4% to $106 and WTI to $101.52 as markets track fragile Iran ceasefire and Trump-Xi summit, despite US inventories declining. Prices remain above $100 since Strait of Hormuz disruptions.
Tech Stocks Rebound Led by Nvidia and Magnificent 7
Tech sector bounces back with Nvidia up 2%, Alphabet, and Amazon in green after Huang joins Trump trip; dip buyers step in ahead of PPI data. Zebra Tech also rises post-upgrade.
SoftBank Reports $11 Billion Net Income from OpenAI Investment
SoftBank's bet on OpenAI pays off massively, delivering over $11B in net income from valuation gains, far exceeding analyst expectations of $1.87B. Chinese tech giants Tencent and Alibaba report earnings today.
JP Morgan's Jamie Dimon Warns UK on Bank Taxes and HQ Plans
Dimon threatens to reconsider billions in London HQ investment if UK imposes higher taxes on banks, citing $10B in additional taxes already paid. Speaks amid positive Asian markets.
PPI Expected to Rise to 4.8%, Highest Since 2022
US Producer Price Index forecast to hit 4.8%, signaling persistent inflation pressures ahead of key data release. Markets on edge with tech rebounding.
Anthropic in Talks for $30B Raise at $900B Valuation
AI firm Anthropic seeks $30 billion in fresh financing, potentially its largest round, valuing it over $900 billion amid AI boom. Scoop highlights ongoing AI funding frenzy.
Australia Unveils Budget to Tackle Inequality, Boost Fuel and Defenses
Government budget shakes off property tax deductions, ends 50% capital gains discount, aims for fiscal repair while shielding economy from Iran war effects. Tax package overall neutral.
China Posts Strong Export Numbers Despite Tariffs
China maintains fantastic export figures amid US tariffs and supply chain issues, boosting positive trade picture ahead of Trump-Xi talks.
South Korea Jobless Rate Rises to 2.8%
Joblessness in South Korea increased slightly to 2.8% in Q1, amid broader global economic pressures.