Bloomberg
Bloomberg
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Gautam Adani loses $9 bn in three days in worst wealth rout
The 58-year-old tycoon lost more money this week than anyone else in the world, with his personal fortune tumbling by about $9 billion to $67.6 billion
 "Gautam Adani loses $9 bn in three days in worst wealth rout")
CureVac stock plunges after mRNA Covid vaccine falls short on protection
The shares plunged more than 52% in German trading, wiping out almost $9.6 billion in market value.
 "CureVac stock plunges after mRNA Covid vaccine falls short on protection")
Microsoft names Nadella as chairman, rewards him for refocusing company
Microsoft has undergone a rebirth during Nadella's leadership, recovering from failures in the mobile phone and internet search market.
 "Microsoft names Nadella as chairman, rewards him for refocusing company")
US Fed surprise may herald new era of Asian currency weakness
Almost all developing Asian currencies were lower against the greenback after Fed released forecasts that showed officials anticipate two interest-rate increases by end of 2023, sooner than thought.
 "US Fed surprise may herald new era of Asian currency weakness")
JPMorgan, Goldman, two other banks hired by Paytm for proposed $3 bn IPO
The board of the startup, formally called One97 Communications, also approved Morgan Stanley and ICICI Securities Ltd. to help with the sale, the people said, asking not to be identified as the matter
 "JPMorgan, Goldman, two other banks hired by Paytm for proposed $3 bn IPO")
Bank, airline websites go dark briefly in international internet outage
Website tracker flags hundreds of user complaints about outages affecting Southwest, Delta Air Lines Inc. and Automatic Data Processing Inc
 "Bank, airline websites go dark briefly in international internet outage")
India's record foreign exchange pile may not be adequate: RBI paper
Foreign exchange reserves surged to $605 billion in the week to June 4 as the central bank mopped up dollars.
 "India's record foreign exchange pile may not be adequate: RBI paper")
Japan's 'Dr Fauci' damps Olympic mood with call to ban spectators
In Japan's political culture, Shigeru Omi's public questioning of the official position is unusual.
 "Japan's 'Dr Fauci' damps Olympic mood with call to ban spectators")
Oil falls below $72 a barrel following Fed's tilt towards tightening policy
A rise in the dollar reduces the appeal of commodities priced in the currency
 "Oil falls below $72 a barrel following Fed's tilt towards tightening policy")
US, China trade war costs global value chains 3-5 years of growth, says UN
Report researching the post-pandemic future of global value chains found that trade within those supply lines shrank in absolute terms.
 "US, China trade war costs global value chains 3-5 years of growth, says UN")
India, Brazil have competing views on inflation: One of them must be right
Which of the two approaches proves most effective will shape the lessons a generation of officials take from the pandemic.
 "India, Brazil have competing views on inflation: One of them must be right")
Adani juggernaut will roll on but it needs more quality investors
A temporary bout of nervousness in the stock market won't shake Asia's second-richest man.
 "Adani juggernaut will roll on but it needs more quality investors")
Euros championship 'Bottlegate' spreads from Coca-Cola to Heineken
Manchester United's Paul Pogba on Tuesday moved a bottle of non-alcoholic Heineken NV beer out of sight when giving a press conference at the UEFA Euro 2020 tournament, where he's representing France
 "Euros championship 'Bottlegate' spreads from Coca-Cola to Heineken")
Troubled newspaper creates 200% windfall with digital arm's IPO
The IPO of VerticalScope Holdings, a former unit of Torstar that runs websites for hobbyist communities such as wood-workers and motorcyclists, raised about C$125 million ($103 million)
 "Troubled newspaper creates 200% windfall with digital arm's IPO")
US economy well on way to robust post-Covid recovery: Janet Yellen
Yellen said in testimony she's scheduled to deliver before the Senate Finance Committee that she came into her job in January hoping to help Americans "make it to the other side of the crisis."
 "US economy well on way to robust post-Covid recovery: Janet Yellen")
China's industrial production jumps over 6% in May, shows data
The latest data released Wednesday by the statistics bureau showed a shift toward consumption-driven demand is underway, but at a gradual pace
 "China's industrial production jumps over 6% in May, shows data")
Joe Biden, Vladimir Putin meet for first time to dial back tensions
Cold War adversaries decide to return ambassadors after talks
 "Joe Biden, Vladimir Putin meet for first time to dial back tensions")
US Fed holds rates at zero, projects two hikes by the end of 2023
"Progress on vaccinations has reduced the spread of Covid-19 in the United States," the Federal Open Market Committee said in a statement released Wednesday
 "US Fed holds rates at zero, projects two hikes by the end of 2023")
China's campaign to control commodities goes into overdrive
State-owned enterprises were ordered to control risks and limit their exposure to overseas commodities markets by the State-owned Assets Supervision and Administration Commission, according to people
 "China's campaign to control commodities goes into overdrive")
Covid: Thailand to reopen in 120 days to ease 'suffering of people'
Some tourist destinations should be ready for fully vaccinated visitors without any quarantine requirement sooner than the wider reopening, with Phuket as the "pilot," Prayuth said in a address.
 "Covid: Thailand to reopen in 120 days to ease 'suffering of people'")