Alibaba Chairman Joe Tsai outlined the company's "all in" AI strategy at VivaTech in Paris, citing a potential $50 trillion market. He emphasized a "full-stack" investment approach across chips, cloud, models, and applications, believing it's too early to pinpoint AI's biggest profit centers.
Reliance Industries Chairman Mukesh Ambani announced key initiatives at the 49th AGM, including the upcoming Jio IPO, significant AI investments, and expansion in new energy and retail. The company highlighted strong financial performance and commitment to India's growth.
Federal Reserve Chairman Kevin Warsh's strong stance on inflation has led traders to anticipate interest rate hikes sooner than expected. Despite President Trump's calls for lower rates, Warsh emphasized price stability, causing market volatility.
Hong Kong property tycoon Gordon Wu expressed strong optimism about China's future, citing its stability and the hard work of its people. Receiving the Game Changer Award, the 90-year-old founder of Hopewell Holdings stated he has bet on China since 1978 and believes its stability will sustain its rise, contrasting it with the US.
Russian President Vladimir Putin met with Singapore Prime Minister Lawrence Wong and wished Singapore a successful ASEAN chairmanship next year. Putin recalled Singapore as the location where Russia's strategic partnership with ASEAN was proclaimed during a 2018 summit.
ArcelorMittal Executive Chairman Lakshmi Mittal stated India will drive global steel demand due to infrastructure, urbanization, and energy transition investments. He compared India's future role to China's past growth, marking a new phase for the industry.
Markets show cautious optimism driven by conflicting signals: a hawkish tone from the new Fed Chair Kevin Warsh spooked investors, while a peace MOU between the US and Iran, signed by Presidents Trump and Pezeshkian, boosted risk-on sentiment. Oil prices fell on the news.
The US Federal Reserve has decided to keep interest rates unchanged for the fourth time this year, under the new leadership of chair Kevin Warsh. Despite positive news for US borrowers, the ASX is anticipated to open lower following this announcement.
The Dow Jones Industrial Average and Nasdaq experienced declines following the Federal Reserve's decision to maintain interest rates. SpaceX, now publicly traded, saw its shares fall 5%, marking its first drop.
The Federal Reserve kept interest rates unchanged but introduced several surprises, including the absence of Chairman Kevin Warsh's "dot plot" and the formation of five task forces. Markets reacted negatively to the uncertainty, with major averages declining.
Treasury yields rose Wednesday after the Federal Reserve, led by Kevin Warsh, signaled a potential rate hike later this year. The 2-year Treasury note yield climbed 13 basis points to 4.178%, and the 10-year U.S. Treasury note yield rose 4 basis points to 4.465%.
US Treasury yields increased Wednesday after the Federal Reserve, under Kevin Warsh, maintained interest rates and removed language suggesting future cuts. Officials now anticipate potential rate hikes in 2026, with the median estimate for the Fed Funds Rate ending 2026 at 3.8%.
CME Group announced Wednesday that CEO Terry Duffy will step down next year, succeeded by President and CFO Lynne Fitzpatrick. Duffy, who led the company for over 25 years, will become executive chairman. Fitzpatrick, a 20-year veteran, will take over as CEO on March 1, 2027.
China's top military decision-making body concluded an unprecedented training course for senior officers in Beijing, emphasizing ideological transformation and loyalty to the Communist Party. Vice-chairman Zhang Shengmin urged participants to prepare for the PLA's 100th anniversary with a renewed political outlook.
The Federal Reserve kept benchmark interest rates unchanged, with new Chair Kevin Warsh signaling a possible rate hike due to inflation. Consumer prices rose 4.2% year-over-year in May, driven by energy costs from the U.S. war with Iran. Despite this, core inflation remains moderate, and the job market shows signs of improvement.
New Fed Chair Kevin Warsh faces high inflation driven by the U.S. war with Iran. The Fed's tools are limited against supply shocks, and interest rate hikes are unlikely. Warsh prefers less public communication from the Fed, contrasting with his predecessor Bernanke's "98% talk" approach. Jerome Powell remains on the board to protect the Fed's independence from the White House.
Philippines President Ferdinand Marcos Jr. arrived in Kazan to attend the Russia-ASEAN summit. He was met by Rustam Minnikhanov, head of Tatarstan. The Philippines will hold ASEAN's rotating chairmanship in 2026. President Putin is also scheduled to meet with Marcos Jr. on the summit's sidelines.
A new hard-right party, Restore Britain, led by Rupert Lowe and reportedly backed by Elon Musk, is challenging Nigel Farage's Reform UK. The party aims to attract anti-immigrant voters and is contesting a special election in Makerfield.
Essel Group chairman Subhash Chandra is selling a 2.8-acre bungalow in Lutyens' Delhi for ₹1,260 crore, a record property deal in India. Purchased in 2015 for ₹304 crore, the deal is expected to conclude by December 30, 2026. Other high-value transactions are also occurring in the exclusive zone.
HDFC Bank's board meets June 18 to review legal findings on ex-chairman Atanu Chakraborty's concerns. Preliminary reports suggest no governance issues. The board will also seek a three-month extension for interim chairman Keki Mistry, pending RBI approval.
HDFC Bank's board meets June 18 to review law firms' findings on Atanu Chakraborty's concerns, with preliminary reports indicating no governance issues. The board will also seek a three-month extension for interim chairman Keki Mistry, pending RBI approval.
Tata Sons chairman N. Chandrasekaran has decided not to seek a pay increase for FY26. This move comes as the Tata Group grapples with concerns over capital allocation, profitability of new ventures, and challenges faced by businesses like Air India due to geopolitical factors. Tata Consultancy Services remains a significant profit contributor.
Hong Kong Trade Development Council leaders emphasized the need for an outward-looking economy and free port status to ensure the city's prosperity. They stressed maintaining the free flow of goods, people, capital, and information, and warned against repeating pandemic-era restrictions.
Hong Kong leaders emphasized the need for an outward-looking economy and free port status to ensure the city's prosperity. Speaking at the Hong Kong Trade Development Council's 60th anniversary, they stressed collaboration with mainland China and creative problem-solving, while warning against pandemic-era restrictions.
