Page 46 - Bloomberg/workspace/business Standard Web/undefined

Musk to face lawsuit for defrauding voters over 2024 election sweepstakes

The district attorney in Philadelphia sued Musk and the PAC about a week before the November election to shut down the sweepstakes as an unlawful lottery

US-China tariff status quo working well ahead of November, says Bessent

Bessent's remarks indicate that an easing of tensions between the two sides remains in place, potentially creating an opening for President Donald Trump to meet Chinese leader Xi Jinping

Microsoft limits Chinese firms' early access to cybersecurity flaw data

The announcement from Microsoft follows a campaign of cyberattacks that Microsoft blamed on state-sponsored hackers in China who targeted security weaknesses in SharePoint servers

Indian company borrowing costs see steepest rise since 2022 on fiscal risks

The average yield on top-rated three year company notes climbed 26 basis points in two days through Tuesday, set for the steepest weekly gain since November 2022, data compiled by Bloomberg show

Adani Group units secure $275 million offshore loans from global banks

Investors have grown more confident lending the Adani Group as it seeks to raise funds across the spectrum of its businesses

Trump orders southern border wall painted black to deter migrant crossings

Speaking near the border in New Mexico on Tuesday, Homeland Security Secretary Kristi Noem said crews have begun painting sections of the 30-foot steel bollards that make up the barriers

White House launches TikTok account as Trump's deadline to ban app looms

The first video posted by the White House features a montage of Trump and other administration officials, including Vice President JD Vance and Defense Secretary Pete Hegseth

Netanyahu accuses Australia of betrayal for recognising Palestinian State

Ties began taking a turn for the worse last week when Australia announced it would join France, the UK and Canada in recognizing a Palestinian state at next month's United Nations summit

Apollo aims to double India assets to $4 billion in 3 years on credit boom

The New York-based asset manager, which has about $2 billion assets in India, mainly in private credit, is targeting sectors including infra, financial services, industrials and supply chain finance

India's richest families benefit from Russian crude oil deals: Bessent

"They are reselling, they made $16 billion on excess profits - some of the richest families in India," he said

Meta splits AI group into four parts in pursuit of superintelligence

The group, known as Meta Superintelligence Labs, or MSL, will now have four parts

Trump tariffs get seal of approval as S&P affirms AA+ credit rating

The decision offers a glimmer of good news for Trump, who has pushed back against arguments that his historic program of tariffs will damage the US economy

Student arrivals to US continue to fall, declines from Asia most pronounced

The sharp downturn follows a series of policy changes and administrative hurdles from the White House around tightening immigration and foreign student scrutiny

Trump admin in talks to take 10% stake in Intel via Chips Act grants

The federal government is considering a potential investment in Intel that would involve converting some or all of the company's grants from the US Chips and Science Act into equity

China rare earth exports rise to six-month high on July shipment surge

US Trade Representative Jamieson Greer said earlier this month that China was "about halfway there" in terms of returning magnet supplies to where they were prior to the controls

Leapmotor outpaces China EV rivals with soaring sales, 200% stock surge

Ten-year-old Leapmotor has won over investors by outcompeting its peers in price, principally by producing a large proportion of components in-house

China's $167 billion mega dam faces setback as weak rains hit hydropower

China has increased the capacity of its hydro generators by more than a third since 2020, but so far this year their electricity production is up only 11 per cent

Pakistan rides high on US ties after clash with India, but it won't last

Pakistan's military, buoyed by recent India clashes, sees itself central to regional politics, with Army Chief Munir twice visiting the US, meeting Trump, and addressing overseas Pakistanis

Trump's peace deal demands leave Zelenskyy with only tough choices

Situation is made even more tenuous by the memory of his last visit to the White House in February that erupted into a bitter exchange between Zelenskyy and Trump and led to a halt in military support

Zelenskyy, European allies seek clarity on Trump's peace talks with Putin

Unease hangs over the allies, which have few options for pushing back on demands from Trump that Ukraine may oppose, and are skeptical that Putin really wants peace