- Aussie gets a boost after the RBA hikes interest rates.
- HSBC beats estimates and announces share buyback.
- Young workers need coaching after lockdowns stunted skills.
- China property:KWG’s securities tumbled after the firm became the latest Chinese developer to default
- BP fell after posting weaker cash flow and a smaller buybackof $1.75 billion
- Biden calls debt-ceiling meeting
- Tesla has raised the prices of its Model 3 sedan and Model Y sports car in the US and China
- UK lender reports first gain in house prices in in eight months in April
- First Republic’s demise may not be the end of the banking turmoil
- Coinbase is launching an international derivatives exchange for institutional crypto traders
- A bank routspurs a safety rush
- US gives India a “free pass” as China worries deepen.
- Vast copper mine flashes warning of a “ huge crisis” for world supply.
- President Joe Biden has invited congressional leaders for a May 9 meeting as the US barrels closer to a potential debt default in what is the first sign of progress since the White House said it would not negotiate with Republicans over extending the debt ceiling. Still, it’s too soon to declare the end of the impasse. While House Speaker Kevin McCarthy has agreed to attend the meeting, according to a GOP aide, Senate Minority Leader Mitch McConnell has yet to confirm his plans. A White house official emphasized the invitation should not be interpreted as a sign that Biden is ready to negotiate over the debt ceiling.?BB
- The RBA gives markets a jolt by unexpectedly tightening policy, and Hong Kong’s economy comes bouncing back after Covid curbs are nixed. South Korea shows more signs that prices are calming, and US consumers continue to deplete savings accounts.
