Bloomberg
Bloomberg
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Tech, AI to drive demand for specialists, decline of clerical work: WEF
Over the next five years, nearly a quarter of all jobs will change as a result of AI, digitization and other economic developments like the green energy transition and supply chain re-shoring
 "Tech, AI to drive demand for specialists, decline of clerical work: WEF")
Bitcoin's monthly streak brings $100,000 into view if history is right
Bitcoin is set to climb for the fourth month in a row after eking out an April gain, the best such stretch since a six-month advance through March 2021
 "Bitcoin's monthly streak brings $100,000 into view if history is right")
FDIC needs 'lowest-cost' First Republic alternative, says Ro Khanna
The FDIC has asked banks including JPMorgan Chase & Co., PNC Financial Services Group Inc., US Bancorp and Bank of America Corp. for bids, according to people with knowledge of the discussions
 "FDIC needs 'lowest-cost' First Republic alternative, says Ro Khanna")
China manufacturing activity contracts, but consumer spending strong
A non-manufacturing gauge of activity in the services and construction sectors declined to 56.4 from 58.2 in March. Economists had forecast the index to hit 57. A reading above 50 indicates expansion
 "China manufacturing activity contracts, but consumer spending strong")
Last rate hike? Fed's Jerome Powell expected to face more opposition
With inflation as high as 9 per cent in the past year, Powell's colleagues were all-in on the fight to curb price pressures
 "Last rate hike? Fed's Jerome Powell expected to face more opposition")
Federal Reserve seen boosting rates even as economic risks build in US
The Federal Open Market Committee is expected to boost the benchmark lending rate target by another quarter percentage point on Wednesday
 "Federal Reserve seen boosting rates even as economic risks build in US")
China's factory activity contracts as economy struggles to sustain momentum
A non-manufacturing gauge of activity in the services and construction sectors declined to 56.4 from 58.2 in March
China's factory activity contracts as economy struggles to sustain momentum
A non-manufacturing gauge of activity in the services and construction sectors declined to 56.4 from 58.2 in March
 "China's factory activity contracts as economy struggles to sustain momentum")
Sebi seeks 6-month extension to complete Hindenburg's Adani probe: Report
New York-based Hindenburg in January accused Adani Group of using a web of companies in tax havens to inflate revenue and stock prices, even as debt piled up
 "Sebi seeks 6-month extension to complete Hindenburg's Adani probe: Report")
FDIC asks JPMorgan, PNC to submit final bids for First Republic by Sunday
The bidding process kick-started by regulators - after weeks of fruitless talks among banks and their advisers - could pave the way for a tidier sale of First Republic
 "FDIC asks JPMorgan, PNC to submit final bids for First Republic by Sunday")
It all went south, says Twitter co-founder Jack Dorsey; rues Musk deal
Dorsey, who was friendly with Musk for years and suggested he get involved with Twitter, was previously publicly in favor of the deal
 "It all went south, says Twitter co-founder Jack Dorsey; rues Musk deal")
Jaiprakash Associates defaults on $508 mn loan repayment due on Mar 31
The flagship company of the infrastructure-focused Jaypee Group has borrowings of Rs 29,396 crore, which are due for repayment by 2037, it said
 "Jaiprakash Associates defaults on $508 mn loan repayment due on Mar 31")
Germany sets new standard for cheap, national mass transit at $54 a month
The impact of the ticket could ripple through to other countries by taking the potentially radical step of positioning transit systems as a public good to which all deserve affordable access
 "Germany sets new standard for cheap, national mass transit at $54 a month")
First Republic Bank's fate uncertain after stock's harrowing tumble
Meanwhile, larger lenders have started preparing for the possibility that the government seizes First Republic and asks them to bid on the bank or its assets, the report said
 "First Republic Bank's fate uncertain after stock's harrowing tumble")
India on alert for blistering heat across swathes of country in May
Temperatures aren't the only factor that makes heat waves dangerous. Humidity can also be fatal when the human body can't cool itself by sweating
 "India on alert for blistering heat across swathes of country in May")
Amazon falls after warning of slowdown in cloud computing business growth
AWS revenue rose 16% to $21.4 billion in the first quarter, the weakest growth rate since Amazon began breaking out the unit's sales
 "Amazon falls after warning of slowdown in cloud computing business growth")
US labour costs pick up, likely locking in one more Fed rate hike
The employment cost index, a broad gauge of wages and benefits, increased 1.2% in the first quarter, according to Labor Department figures released Friday
 "US labour costs pick up, likely locking in one more Fed rate hike")
Foreign executives in China ask 'Who's Next?' After Bain & Company probe
US consultancy Bain & Company confirmed this week that Chinese authorities questioned staff at its Shanghai office, without revealing details on the nature of the investigation
 "Foreign executives in China ask 'Who's Next?' After Bain & Company probe")
Adani Cement pre-pays $200 million Holcim debt, seeks loan extension
Global banks had lent Adani $4.5 billion to finance the purchase of Holcim Ltd
 "Adani Cement pre-pays $200 million Holcim debt, seeks loan extension")
How Russian oil is still powering Europe's cars with help from India
Europe's refined fuel imports from India are set to surge above 360,000 barrels a day, edging just ahead of those of Saudi Arabia, Kpler's data show
 "How Russian oil is still powering Europe's cars with help from India")