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LVMH's first quarter sales growth slips to 3% amid luxury retail slowdown

LVMH, which is Europe's second-largest listed company and worth nearly 400 billion euros, is the first luxury goods maker to report quarterly earnings

Big banks led by Citigroup continue layoffs amid pressure to cut costs

Headcount at Citi declined by 2,000 employees after the third-largest U.S. lender completed a sweeping reorganization aimed at improving profits and reducing management layers

Intel to launch two AI chips with reduced capabilities for Chinese market

Rival Nvidia also has plans for three China-specific chips after the United States late last year tightened a rule capping the capabilities of AI chips that can be shipped to China

Tesla layoffs: Global job cuts to impact leading markets US, China

Tesla faces increasing competition in China in a fierce price war with rivals led by BYD, slowing sales in the United States, as well high investment costs in new models and artificial intelligence

Microsoft to invest $1.5 bn in UAE-based AI firm G42, takes minority stake

G42 had divested its investments in China and began the lengthy task of pulling out Chinese hardware amid US concerns over its relationship with Chinese businesses

US will use sanctions to disrupt Iran's 'malign' activity, says Yellen

Yellen said Washington was continuing to use economic tools to pressure Hamas, but said Treasury was emphasizing that its sanctions should not impede life-saving aid

Israeli war cabinet to hold 3rd meeting on response to Iran's attack

Iran launched the attack in retaliation for an airstrike on its embassy compound in Damascus on April 1 attributed to Israel, but signalled that it did not seek further escalation

Treasury Secy Yellen says US working to mitigate risks to global economy

In remarks prepared for a news conference, Yellen said the U.S. labor market was remarkably healthy and inflation was down significantly from its peak, although there was more work to do

US single-family home construction plunges 5.7%; building permits drop

The report from the Commerce Department on Tuesday also showed permits for future construction of single-family houses fell to a five-month low

Govt likely to construct 5-8% more roads in 2024-25, says ICRA report

Since Prime Minister Narendra Modi took office in 2014, India built about 90,000 kilometres of national highway, almost double that constructed in previous decade, according to government estimates

Morgan Stanley's first quarter profit rises as investment banking rebounds

Investment banking activity has rebounded from a two-year dealmaking drought as large corporates issued near-record levels of debt and equity capital markets became more active

Govt defers approval of Paytm's Rs 50 cr investment in its payments arm

Paytm sought government approval last year for the investment it had already made in its newly established payments gateway arm

J&J Q1 results: Profit beats expectations on cancer drugs strength

Sales of its blockbuster psoriasis drug Stelara were flat at $2.45 billion in the first quarter, while sales of Darzalex jumped about 19% to $2.69 billion

Morgan Stanley expects ECB to cut key interest rates by 75 bps in 2024

Last week, the ECB held interest rates at a record high on Thursday but signaled it could start cutting as soon as June

Meta oversight board reviews handling of AI-created celebrity porn

It provided descriptions of the images in question but did not name the famous women depicted in them in order to "prevent further harm," a board spokesperson said

Apple to ramp up investments on suppliers in manufacturing hub Vietnam

Vietnam is already a key manufacturing hub for Apple and Cook was speaking while meeting Vietnamese Prime Minister Pham Minh Chinh, state media reported

Sri Lanka fails to strike agreement on restructuring terms with bondholders

Sri Lanka plunged into its worst financial crisis since independence from the British in 1948 after its foreign exchange reserves ran to catastrophic lows in early 2022

Apple CEO Tim Cook wants to spend more on suppliers in Vietnam: Report

Cook arrived in Hanoi on Monday for the two-day visit during which he met suppliers, students, content creators and users of Apple products

Ericsson's Q1 profit rises to $394 mn, expects sales to stabilise soon

Its shares were up 6% in early trade, to levels last seen at the start of the month

Gold prices hover near record high amid growing geopolitical tensions

Citi projected gold prices to trade at $3,000 per ounce over the next 6-18 months