Latest Business News
Tech Weakness Ripples Across Asian Markets
Asian stocks tracked a US tech-driven selloff as AMD's outlook disappointed investors seeking bigger AI payoffs, leading to stock rotation hurting tech shares. Gold and silver rallied after a historic rout amid broader market shifts.
South Korea and Japan markets opened lower reflecting the pressure.
KKR and Singtel Consortium to Acquire STT GDC for $5.2B
A KKR-led consortium including Singtel agreed to buy data center firm STT GDC in a $5.2 billion deal, marking significant dealmaking in Singapore. The transaction underscores ongoing consolidation in the data center sector amid tech demands.
Details emerged during Asia trading updates.
Disney Taps Parks Chief Josh DāAmaro as Next CEO Succeeding Iger
Disney announced Josh DāAmaro, head of its parks division, will succeed Bob Iger as CEO, signaling a leadership shift toward experiential business strengths. The move comes amid challenges in media and entertainment sectors.
It was highlighted in global market coverage.
Economist Warns AI Bubble Burst Could Trigger Global Financial Crisis
Top economist Steve Keen predicts the AI bubble's burst may spark a sovereign debt crisis, as AI fails to deliver productivity boosts amid US debt struggles. He highlights ignored credit cycles and potential large-scale AI company bankruptcies.
Concerns include robotics competition from China.
Nintendoās Profit Disappoints Despite Rising Memory Prices
Nintendo reported quarterly profits below expectations even as memory chip prices climbed, reflecting gaming sector headwinds. Investors reacted amid broader tech underperformance.
The results were discussed in Asia market analysis.
BYD EVP Addresses Sales Outlook and Door Safety Concerns
BYD Executive Vice President Stella Li discussed the company's sales outlook and responded to concerns over door safety issues in its vehicles. The comments come as Chinese EV makers face global scrutiny.
Insights shared during Asia business broadcast.
EU to Offer US Critical Minerals Partnership to Counter China
The EU plans to propose a critical minerals deal with the US to secure supply chains and check China's dominance, amid bilateral pricing agreements push. This follows US efforts for such pacts with various countries.
Developments noted in market news.
Novogratz: āPainā Part of Crypto Ethos After Recent Losses
Crypto investor Mike Novogratz stated that market pain is inherent to cryptocurrency's ethos following recent losses in the sector. His remarks came amid volatile trading conditions.
Covered in Asia financial updates.
Tesla and Waymo Execs Testify on Capitol Hill Over Robotaxi Regulations
Executives from Tesla and Waymo testified before a Senate panel on outdated regulations hindering robotaxi development. The hearing addresses regulatory barriers to autonomous vehicle advancement.
It highlights tensions in US auto tech policy.
Indonesian Finance Minister Defends Economic Performance
Indonesia's Finance Minister Purbaya defended the country's economic metrics amid scrutiny from investors and markets. Discussion focused on regional emerging market outlook.
Featured in Asia trade analysis.
Natixis Analyst Outlines EM Asia Outlook Amid Tech Selloff
Natixis' Trinh Nguyen provided insights on emerging market Asia's prospects, navigating tech weakness and global rotations. Emphasis on investment strategies in volatile conditions.
Part of broader market commentary.
Deutsche Bank Strategist on Investment Approach Post-Tech Rout
Deutsche Bank's Christian Nolting shared investment strategy recommendations as Asian markets react to US tech declines. Focus on diversification amid sector shifts.
Discussed during live Asia coverage.