Coffee Break World View 24 May

Coffee Break World at a glimpse 24th May 2023

QUOTES

• No man goes before his time—unless the boss leaves early.
• It is better to have one person working with you than three people working for you.
• Most people work just hard enough not to get fired and get paid just enough money not to quit.
• If hard work is the key to success, most people would rather pick the lock.

Asian Markets 24th May Scroll down (data go to www.truedata.in)

WORLD NEWS

• RBNZ raises cash rate by 25 bps to 5.5%, now at forecast peak
• New Zealand's central bank on Wednesday raised interest rates by 25 basis points to the highest in more than 14 years to 5.5% and reiterated inflation remains too high even as it still forecast a recession this year.
• Japan manufacturers' mood turns positive as economy recovers
• Italy's central bank sees sharp rise in rents amid student housing protests
• US new home sales, business activity rise to 13-month highs
• Former Fed chief Bernanke says labor costs becoming more prominent in inflation
• Fed's jobs-weighted framework caused more problems than it fixed -research
• High inflation helps to swell UK budget deficit in April
• China's fiscal revenue growth quickens as economy recovers
• White House: China's Micron ban isn't 'based in fact'
• The Chinese government's recent ban on U.S. chipmaker Micron Technology over security concerns is "not based in fact," the White House said Tuesday
• Speaker McCarthy optimistic on debt ceiling deal
• Netflix expands password sharing crackdown
• Wall St. ends lower on deadlocked debt ceiling talks
• Crypto Weekly: the blockchain heats up
• Apple inks multi-billion-dollar deal with Broadcom
• Binance mixed customer, company monies: sources
• US business activity rises to 13-month high in May, S&P Global survey shows
• IMF says Britain no longer faces recession this year
• European shares face bumpy ride to new highs in 2024
• S&P 500 seen dipping between now and year-end - poll
• Euro zone business growth solid in May but shows signs of easing -flash PMI
• U.S. President Joe Biden holds debt limit talks with House Speaker Kevin McCarthy at the White House in Washington
• UK grocery inflation edges lower to 17.2% in May -Kantar
• Singapore's April core inflation rises 5%, beating forecast
• Singapore's key consumer price gauge rose 5% in April, higher than forecast, official data showed on Tuesday.
• Japan FY2022 real wages fall most in 8 years, outlook seen brighter
• Rice into low-carbon plastic: bringing hope to a struggling Fukushima town
• Japan's factory activity expands for first time in 7 months - PMI
• South Korea consumer sentiment hits 1-year high, inflation expectations weaken
• Global shares drop, benchmark US yields ease amid debt ceiling deadlock
• Toronto Stock Exchange TSX hits 8-week low as tech and industrials slide
• Qatar Investment Authority has been very active in private and public credit over the past two years, CEO Mansoor Ebrahim Al-Mahmoud said on Tuesday.
• Spruce Point Capital Management on Tuesday disclosed a short position in Perion Network and said it has concerns about the accuracy of the Israel-based advertising technology firm's financial reporting, sending its shares 2% lower.
• US lawmaker demands action against Chinese chip firm CXMT after Micron
• The U.S. Commerce Department should put trade curbs on Chinese memory chip maker Changxin Memory Technologies (CXMT) after Beijing earlier this week banned the sale of some chips by U.S.-based Micron Technology Inc , the chair of the U.S. House of Representatives' committee on China said on Tuesday.
• Virgin Orbit auctions $36 mln in remaining assets as company folds
• ast-fashion giant Shein plans Mexico factory
• U.S. House votes to overturn heavy duty truck emissions rules
• UBS in talks with Swiss authorities over Credit Suisse deal protections
• Exclusive: California seeks EPA approval to ban sales of new gasoline-only vehicles by 2035
• Choice Hotels looking to buy Wyndham Hotels & Resorts -source
• Choice Hotels International is seeking to buy Wyndham Hotels & Resorts in a deal that would create a U.S. budget hotel giant,
• Japan's Nikkei seen sliding to 30,000 by year-end- poll
• Japan's Nikkei 225 share average will drop 4% from 33-year highs, returning to the psychologically key 30,000 level by year-end and trading around the same level in mid-2024, according to the median estimates of analysts
• Credit Suisse managers' 2022 bonuses cancelled or cut by Swiss government
• Ford offers investors big bets but finds few takers
• US Treasury asks federal agencies for payments clarity as debt ceiling default looms
• Taiwan will weigh both inflation and economic growth when deciding on its next interest rate decision in June but the island's economy may not rebound until the fourth quarter, central bank governor Yang Chin-long said on Wednesday.
• Indian shares set to open lower on caution over US debt ceiling talks
• White House takes new steps to study AI risks, determine impact on workers
• Trump criminal trial to start next March, with campaign in full swing
• Donald Trump will face a criminal trial in New York on March 25, 2024, a judge said on Tuesday, meaning the former U.S. President will be on trial as his campaign for the 2024 Republican nomination is in full swing.
• Florida Governor DeSantis to enter 2024 race in Twitter event with Musk
• Russia says cross-border attack from Ukraine has been crushed, one civilian killed
• The Russian military said on Tuesday it had routed militants who attacked a Russian border region with armoured vehicles the previous day, killing more than 70 "Ukrainian nationalists" and pushing the remainder back into Ukraine.
• Ukraine investigating role of Belarus in transfers of children, prosecutor says
• US calls for immediate release of Gershkovich after Russia seeks to extend detention
• ?19 Children die in school dormitory fire in Guyana
• Student lit deadly fire at Guyana school after phone confiscated, police say
• From mangoes to luxury watches, Indians look to offload 2,000-rupee notes
• India's Prime Minister Narendra Modi in Sydney
• Australia, India to seek closer economic ties, critical minerals cooperation
• US, South Korea issue fresh North Korea sanctions on 'illicit' IT workforce
• The United States and South Korea on Tuesday announced new North Korea sanctions related to thousands of IT workers, many operating in China and Russia, whose labors allegedly help fund weapons of mass destruction and missile programs, they said.
• Beer-loving Thai lawmaker takes aim at $14 billion booze industry duopoly
• U.S. signs agreement to continue Micronesia assistance under strategic pact
• New Chinese ambassador to US acknowledges challenges in relations
• Cathay Pacific apologises after passenger alleges discrimination
• A Patek Philippe Reference 96 Quantieme Lune formerly from the collection of China's last emperor of the Qing Dynasty Aisin-Gioro Puyi is seen during a preview in Hong Kong
• Last emperor of China's watch sells for record $6.2 mln in Hong Kong auction
• No signs of progress from White House, Republicans in 'tough' debt ceiling talks
• South Carolina House members debate a new near-total ban on abortion in Columbia, South Carolina
• South Carolina lawmakers pass six-week abortion ban, send to governor
• Boris Johnson referred to police over possible new COVID rule breaches
• Russian President Vladimir Putin meets with Belgorod region governor Vyacheslav Gladkov, outside Moscow
• Lebanese-flagged bulk carrier Brave Commander leaves the sea port of Pivdennyi with wheat for Ethiopia, in the town of Yuzhne
• Ukraine says Russia prevents Black Sea grain deal port operating
• Nurses strike outside St Thomas' Hospital in London
• Britain plugs nursing gaps with international staff amid WHO concern
• EU, US to seek stopgap standards for AI, EU tech chief says
• Google-backed Anthropic raises $450 mln in latest AI funding
• Uber partners with Alphabet's Waymo to offer driverless rides
• Google to test ads in generative AI search results
• Colombia ex-president Uribe could go on trial in witness tampering case
• Ecuador's Lasso issues decree to boost investment
• Mexico government open to buying Citigroup's Banamex
• Governor General of Canada David Johnston, meets with Chinese President Xi Jinping, at the Diaoyutai State Guesthouse in Beijing
• Canada did not ignore intelligence on Chinese meddling, report says
• Police evict migrants from a camp in Ciudad Juarez
• The 76th Cannes Film Festival - Screening of the film "Rapito" in competition - Red Carpet Arrivals
• Italy's Bellocchio debuts 'Kidnapped' at Cannes, about Church abduction of Jewish boy
• The 76th Cannes Film Festival - Screening of the film "Asteroid City" in competition - Red Carpet Arrivals
• Stars come out for Cannes premiere of Wes Anderson's 'Asteroid City'
• The 76th Cannes Film Festival - Photocall for the TV series "The Idol" Out of Competition
• HBO's much-hyped 'The Idol' meant to be provocative, says Sam Levinson
• Disgraced Australian-born former entertainer Rolf Harris dead at 93
• Founder of Wagner private mercenary group Yevgeny Prigozhin makes a statement in Bakhmut
• Mercenary Prigozhin lays bare the strains of Putin's war
• Illinois dioceses tolerated decades of abuse by clergy, report finds
• Harry loses court bid over UK police protection
• China opposes trade agreement reached between U.S. and Taiwan
• PacWest sells real-estate lending unit to Roc360
• Target, which rolled out its Pride Collection at the start of May, is pulling some products from its stores after facing customer backlash, saying it was acting to protect employee safety, the company told Reuters on Tuesday.
• Tesla to pick location for new factory this year, Musk says
• Morning Bid: Fed hawks re-emerge, dollar pumped
• Oil prices rise on concerns over tightening supply
• U.S. has 'real concern' about Tesla Autopilot driver interaction

INDIA NEWS

• India's domestic demand strong but external pressures remain - govt report
• Australia, India to seek closer economic ties, critical minerals cooperation
• Australian Prime Minister Anthony Albanese met Narendra Modi, his Indian counterpart, in Sydney on Wednesday to discuss regional security and economic ties and signed a migration deal to boost Indian student and business travel to Australia.
• Indian stocks to gain only modestly in 2023 despite RBI rate hike pause
• From mangoes to luxury watches, Indians look to offload 2,000-rupee notes
• Indian shares set to open lower on caution over US debt ceiling talks
• As African children died, doctors fought to get toxic Indian cough syrup banned
• India makes tests mandatory for cough syrup export after overseas deaths
• Policy barriers, bureaucracy could slow pace of investment in India - Moody's
• Rupee to weaken as US debt ceiling anxiety lifts safe-haven dollar
• Nearly 60,000 contract workers lost jobs in India's IT sector - recruitment body
• India showcases scenic Kashmir to G20 countries, hoping to woo foreign tourists
• Vedanta raises about $850 mln via JPMorgan, Oaktree loan
• Overseas Indians flock to Modi's rally in Sydney
• India's Infosys unveils AI platform
• India's Adani stocks rally after SEBI probe draws a blank on foreign links
• Chennai reach 10th IPL final with win over Gujarat
• Four-time Indian Premier League winners Chennai Super Kings qualified for their 10th final with a 15-run win over holders Gujarat Titans in the first qualifier at Chepauk on Tuesday.
• India's Ashok Leyland posts lower quarterly profit as costs rise
• India's Ashok Leyland Ltd reported a 17% fall in fourth-quarter profit on Tuesday as higher materials and services costs, as well as tax expenses, offset robust truck sales.
• Blackstone platform bets on Indian data binge, in talks with Microsoft, Amazon
• Adani stocks lift Indian shares amid caution on US debt ceiling talks
• GQG raises Adani stake by nearly 10%
• Rupee logs first gain in 5 sessions, eyes US debt ceiling updates
• China scales down rescue effort for missing crew of capsized vessel
• Australia To Establish New Consulate General In Bengaluru
• 4 Of Family, Including 2 Kids, Killed By Relative Over Property In Odisha: Cops
• "We Will Not Accept": India, Australia Vow Strict Action Against Temple Vandalism
• Actor Vaibhavi Upadhyaya, best known for her role in the popular TV show 'Sarabhai vs Sarabhai', lost her life in a car accident.
• CPI(M) To Boycott Inauguration Of New Parliament Building
• Amid the opposition's objection to Prime Minister Narendra Modi inaugurating the new Parliament building, the Communist Party of India (Marxist) announced a boycott of the ceremony slated to take place on May 28.
• Special Task Force Arrests Wanted Accused With Drone, Heroin In Punjab
• The special task force (STF) of Punjab Police on Tuesday arrested a wanted accused with a Chinese-made drone, 1.6 kg of heroin, a pistol, and a rifle.
• Won't Tolerate "Hooliganism, Drug Mafia" In State: Siddaramaiah Tells Cops
• SpiceJet Hikes Salaries For Pilots To Rs 7.5 Lakh Per Month
• Arvind Kejriwal To Meet Uddhav Thackeray Today Over Centre's Ordinance Row
• "Opportunity To Reaffirm Close Partnership": US Ahead Of PM Modi's Visit
• Amit Shah To Visit Assam Tomorrow, Security Stepped Up In Guwahati
• Proposed Digital India Act Will Have Huge Section On Online Safety: Minister
• UP Bride Chases Runaway Groom Over 20 km, Brings Him Back To Wedding Mandap
• Maharashtra Cabinet Expansion Likely Next Month, Says Shinde Camp Leader
• Gangster Atiq Ahmad's Lawyer Charged For Alleged Extortion
• Lawyer Vijay Mishra, who represented the dead mafia-turned-politician Atiq Ahmad, has been booked after a man accused him of extortion, police said on Tuesday.
• "Media Free In Jammu And Kashmir": Lt Governor Amid G20 Meet
• Arvind Kejriwal To Meet Uddhav Thackeray, Sharad Pawar Amid Postings Row
• Arvind Kejriwal To Meet Uddhav Thackeray, Sharad Pawar Amid Postings Row
• "Felt Like We Lost Our Own:" PM Modi Recalls Shane Warne's Death In Australia
• Wrestlers Protest: Thousands March To India Gate To Show Support
• "Vinesh Phogat Playing Role Of Manthara For Me", Says Wrestling Body Chief
• 2 Dead, 3 Injured After Truck Falls Off Flyover Following Tyre Burst In Haryana
• Rahul Gandhi Seeks Court's Approval To Secure Fresh "Ordinary" Passport
• NDTV Public Opinion: Over 55% People Satisfied With Centre's Work On Various
• Shiv Sena Leader Manohar Joshi Hospitalised In "Semi-Coma State"
• The Congress on Tuesday said that it will contest the next assembly polls in Madhya Pradesh on issues raised by the people during its former president Rahul Gandhi's
• Congress's Rahul Gandhi's approval ratings shot up by 15 per cent after the Bharat Jodo Yatra, but Prime Minister Narendra Modi's popularity remains undented, a special NDTV survey in partnership with Lokniti-CSDS found.
• Rains, Hailstorm Lash Parts Of Himachal, Orange Alert Issued
• 6-Km Tunnel To Be Built In Uttarakhand On Way To India-China Border
• A six-km-long tunnel will be constructed between Bundi and Garbiyang on the Ghatiabagar-Lipulekh road in Uttarakhand to make the way to the last border post of the Lipulekh pass on the India-China border smoother, a senior BRO official said.
• Praising the Indian community, Australian Prime Minister Anthony Albanese on Tuesday said that the "million-strong community" has contributed a lot to Australia.
• Money Laundering Case: Court Allows Actor Jacqueline Fernandez To Travel
• Amid Row With Centre Over Postings, AAP Rejects Order To Reinstate Officer
• Congress Faces Tension Over Karnataka Minister's "Power-Sharing" Comment
• BJP's "PM Aspirants" Dig At Arvind Kejriwal-Mamata Banerjee Meet
• "Exciting Time To Be Serving Nation": PM Modi To Successful Civil Services Exam Candidates
• "Exciting Time To Be Serving Nation": PM Modi To Successful Civil Services Exam Candidates
• "Count Us Out": AAP, Trinamool Boycott Opening Of New Parliament Building
• 3 Indian Peacekeepers Killed In Action To Be Honoured With UN Medal
• As opposition parties accuse the ruling BJP of weaponizing central probe agencies against rivals, a special survey reveals that people are divided on the role of the CBI and Enforcement Directorate.
• Assam, Meghalaya Chief Ministers To Discuss Border Row Tomorrow
• Civil Services Exam Topper Ishita Kishore Is A "National-Level Football Player"
• Banks may not accept 2,000 notes after the September 30 deadline and people may have to approach the regional offices of the central bank to exchange them, sources have told BQPrime.

Asian Markets 24th May

STOCKS

• Index????????????????????????Last???????????????????????????% Change
• ASX All Ordinaries??7,410.50???????????????????-0.50%
• Hang Seng??????????????19,239.32????????????????-0.99%
• Nikkei 225???????????????30,586.78????????????????-1.20%
• Shanghai SE ???????????3,230.47???????????????????-0.49%

COMMODITIES

• Future ???????????????????????Last???????????????????????????% Change
• Brent Crude Oil????? ??77.54??????????????????????? ?+0.91%
• Gold??????????????????????????1,974.10????????????????? ??+0.09%
• Copper?????????????????????707.10?????????????????????? -0.77%
• CBOT Soybeans?????1,326.00?????????????????? ?+0.26%

?CURRENCIES

• Exchange?????Last???????????????% Change
• EUR/USD?????1.0773???????????+0.05%
• ?GBP/USD????1.2418???????????+0.06%
• JPY/USD??????0.0072???????????+0.15%
• CNY/USD?????0.1417???????????+0.03%

YIELDS

• Name ???????????Yield?????????????Change
• US 10Y?????????3.692????????????-0.006
• DE 10Y?????????2.471????????????+0.008
• UK 10Y?????????4.159????????????--
• JP 10Y??????????0.401????????????+0.003