Japan issues fresh warning against yen bears as currency slides
By Takaya Yamaguchi TOKYO (Reuters) – Japanese authorities are ready to take action against speculative and excessively volatile moves in the currency market that hurt the economy, the country’s top currency diplomat Masato Kanda said on Friday. “It’s not intended to change the market’s trend,” and instead aimed at smoothing excessive volatility in…
Vanda rejects Future Pak and Cycle Pharma’s takeover offers
Vanda (NASDAQ:VNDA) Pharmaceuticals said on Wednesday that it has rejected takeover offers from UK-based Cycle Pharmaceutical and a revised bid from contract manufacturer Future Pak, adding that both offers undervalue the U.S. drugmaker. This is the third time Vanda has rejected a buyout offer from Future Pak. After its first offer from Future…
Nvidia leapfrogs Apple, Microsoft to take crown as most valuable company
Nvidia leapfrogged Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT) to snatch the crown of most valuable company on Tuesday as the chipmaker continued to ride AI-wave to new heights. NVIDIA Corporation (NASDAQ:NVDA) rose more than 3%, pushing its market cap to $3.34 trillion, surpassing Microsoft’s $3.31T and Apple’s $3.29T, making the chipmaker the most valuable…
China new home prices fall for 11th straight month in May
China’s new home prices fell for the eleventh straight month in May, official data showed on Monday, as the property sector struggles to find a bottom despite government efforts to rein in oversupply and support debt-laden developers. Prices were down 0.7% month-on-month in May after a 0.6% dip in April, according to Reuters…
US govt returns $156 million worth of 1MDB funds to Malaysia, state media says
The U.S. government has returned about $156 million to Malaysia in recovered assets linked to scandal-hit state fund 1Malaysia Development Berhad (1MDB), Malaysian state news agency Bernama reported. The recovered funds were being returned following the U.S. Justice Department’s approval of a remission petition submitted by the Malaysian government, Bernama reported late on…
Fed keeps rates steady, but sees just one cut for this year in hawkish surprise
The Federal Reserve kept interest rates unchanged on Wednesday, but in a hawkish surprise the central bank now sees just one rate cut for the year, as inflation is expected to trend higher than previously expected. The Federal Open Market Committee, the FOMC, kept its benchmark ratein a range of 5.25% to 5.5%.…
US stock futures steady after AI rally; Fed rate decision, CPI on tap
U.S. stock index futures steadied in evening deals on Tuesday after an artificial intelligence-fueled rally put Wall Street at new highs, with focus turning to the Federal Reserve and upcoming inflation data. Hype over AI remained a key point of support for markets after Apple Inc (NASDAQ:AAPL) announced a partnership with ChatGPT maker…
Analysis-Apple’s AI push could reinvigorate iPhone sales as customers look to upgrade
Apple (NASDAQ:AAPL)’s developer conference on Monday was about more than infusing its software with the latest artificial intelligence technology, including from ChatGPT. It was also about selling more iPhones. Facing choppy consumer spending and resurgent tech rivals, Apple has looked to AI as a way to invigorate its loyal fan base of more…
US stock futures steady with nonfarm payrolls in focus, Gamestop surges
U.S. stock index futures moved little in evening deals on Thursday, tracking a muted session on Wall Street as investors hunkered down before key payrolls data that is likely to factor into interest rates. Meme stock GameStop Corp (NYSE:GME) was an exception, extending strong gains into aftermarket trade after influencer Keith Gill said…
US futures inch higher as rate cut bets, Nvidia rally bring record highs
U.S. stock index futures rose slightly in evening deals on Wednesday, extending gains after persistent bets on interest rate cuts and a rally in heavyweight Nvidia put Wall Street at record highs. A series of weak labor market readings drummed up hopes that the Federal Reserve will begin cutting rates by September. But…
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