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Apple set for big sales decline as investors await GenAI in iPhones

Apple earlier this year lost the crown of the world's most valuable company to Microsoft. Its market value stands at $2.68 trillion after the share price declined 11.24% so far this year

Crypto washout sends Bitcoin below $58,000 ahead of Fed's decision

The value of the world's most traded cryptocurrency fell by nearly 16% in April, as investors booked profits on a sizzling rally that has taken the price to record highs above $70,000

Musk fires Tesla EV charging team, blindsiding automobile manufacturers

General Motors, Ford and other automakers which struck deals last year to give customers access to the network said they are not changing their plans

Amazon beats estimates; AI boosts cloud growth, revenue forecast lags

Shares of the Seattle-based e-commerce and tech company climbed less than 2 per cent in extended trade after its current-quarter revenue forecast came in below expectations

Investors wait to see Red Sea crisis in shippers' Q1 revenue numbers

That compares to the pandemic peak of $13,559, at a time when shippers ordered new vessels in a move that later caused overcapacity, according to Stifel analyst Marc Zeck

Govt unlikely to impose export curbs on low-grade iron ore, says report

China typically accounts for more than 90% of overall shipments of iron ore from India which is the world's fourth-largest producer of the steel-making ingredient

Hyundai's India unit, Tata Motors post higher April sales, Eicher sales dip

The sales numbers are seen as a key indicator of private consumption in India. The auto sector has more than 50% weightage in calculating the country's economic growth

CCI checks if Pernod colluded with New Delhi retailers to boost mkt share

Competition Commission of India is reviewing the case and can order a full investigation, or dismiss the accusations if not borne out, said a source

Huawei's high-profile consumer boss Richard Yu moves to chairman role

Yu had been CEO of Huawei's consumer unit, which includes its smartphone business, since 2012

Microsoft to power data centres with Brookfield renewables deal: Report

Microsoft expects its partnership with Brookfield to help finance the creation of renewable electricity projects to be built between 2026 and 2030

South Korea confirms talks on joining AUKUS pact with US, UK and Australia

AUKUS, formed by the three countries in 2021, is part of efforts to push back against China's growing power in the Asia Pacific region.

Oil prices decline for third day as US crude production, inventories swell

US crude oil inventories swelled last week by 4.906 million barrels, while gasoline and distillate stockpiles fell, according to market sources citing American Petroleum Institute figures on Tuesday

Fuelled by AI, Amazon, Microsoft, Alphabet post better-than-expected sales

Many big customers have started spending again on cloud computing after pausing last year to cut costs, executives and analysts said

US Senate approves legislation to ban imports of Russian uranium

The Senate passed the measure by unanimous consent, meaning that no senators objected to it. The House of Representatives passed the bill in December.

Why HSBC must prioritise Asian expertise in CEO search after Quinn retires

HSBC, Europe's largest lender by assets with a balance sheet of $3 trillion, is increasingly betting on its historic Asian ties to raise profits, as competition crimps revenue growth in other regions.

Govt cuts windfall tax on petroleum crude to Rs 8,400 per MT from May 1

(Reuters) - India has cut its windfall tax on petroleum crude to 8,400 Indian rupees ($100.66) a metric ton from 9,600 rupees with effect from May 1, the government said on Tuesday

Growth in US labour costs accelerates in first quarter amid rise in wages

The Employment Cost Index (ECI), the broadest measure of labor costs, increased 1.2% last quarter after rising by 0.9% in the fourth quarter, the Labor Department's Bureau of Labor Statistics said

Euro zone economy rebounds from recession as inflation steadies

The fourth quarter GDP figure was also revised down to a negative 0.1% from a previous 0.0%, meaning that the euro zone was in a technical recession in the second half of 2023

Cocoa prices recover after slumping 20% amid record low liquidity

July London cocoa futures on the ICE exchange fell nearly 15% on Monday for their largest one-day loss and then lost more than 10% at the market open on Tuesday

Huawei Technologies net profit surges 564% as it eclipses Apple in China

"Industry and global markets will remain rife with uncertainty for rest of 2024. Nevertheless, we are continuously building out mechanisms for global business continuity and agile operations," co said