Apple and fintechs like Robinhood chase yield-hungry depositors as Fed rate hikes continue
The jump in interest rates coupled with the regional banking crisis has presented a big opportunity for fintechs to provide high-yield products.
Apple posts record quarter in India; analyst says Cook eyes market to be bigger than China
Apple has positioned India as a key market for iPhone sales as well as manufacturing as it looks to reduce its reliance on China.
Central bank gold demand hits first-quarter record, investments surge on U.S. banking turmoil
Demand for gold among central banks notched a first-quarter record high in the three months to the end of March.
European markets nudge higher; sterling hits one-year high; Adidas up 6%
European markets were higher as investors continued to assess the trajectory of monetary policy and await a fresh round of economic data.
Tesla hikes price of high-end Model S and Model X in China by roughly $2,750
Tesla raised the prices by 19,000 Chinese yuan ($2,749) across all versions of the Model S and Model X cars.
Adidas quarterly sales beat expectations despite Yeezy crisis
Adidas said on Friday its first-quarter numbers came in better than expected, although sales dipped 1% from a year-ago period.
China’s service sector remains a bright spot as factory data disappoints, Caixin reading shows
The reading suggests that services activity is still “undergoing a fast recovery,” according to Wang Zhe, senior economist at Caixin Insight Group.
HSBC defeats proposal to spin off its Asian business at contentious shareholder meeting
Investors cast their votes on the proposal at the bank’s annual meeting in Birmingham, but its supporters ultimately failed to get the majority required.
King Charles’ scaled-back coronation set to cost the UK up to $125 million
The eyes of the world will be on the U.K. this weekend as King Charles III is crowned at Westminster Abbey in a quintessentially British display of pomp and pageantry.
Consumers in China are dining at nicer restaurants — even if it costs $500 a person
“The pandemic … affected consumers, and now they’re more likely to want to treat themselves,” said Tang Yan, a Black Pearl representative.
