India’s economy grows faster-than-expected in Jan-March on strong manufacturing
India’s economy grew at a faster-than-expected pace of 7.8% year-on-year in the January-March quarter.
Bill Ackman selling stake in Pershing Square at $10.5 billion valuation, aiming for IPO one day
Billionaire investor Bill Ackman is selling a 10% stake in Pershing Square, aiming to eventually take his investment firm public.
China fines Evergrande’s Hengda $577 million for fraudulent bond issuance
China has fined China Evergrande’s onshore flagship unit 4.18 billion yuan ($577 million) for fraudulent bond issuance and illegal information disclosure.
EU approves Italian aid for $5.4 billion STMicro chip plant
The move is part of Europe’s battle to reduce reliance on Asian imports for vital manufacturing components.
Japan confirms first currency intervention since 2022 with $62 billion in spending
Data from Japan’s Ministry of Finance confirmed the country’s first currency intervention since 2022, after the yen plunged to a 34-year-low in April.
Euro zone inflation rises to 2.6% in May, but bloc still seen heading for interest rate cut
The European Central Bank is widely expected to cut interest rates next week.
EU’s 14th sanctions package must target circumvention, energy exports, Zelenskyy advisor says
The European Union’s upcoming 14th sanctions package against Russia must do more to choke off energy exports and clamp down on circumvention by third parties, an advisor to the office of Ukraine’s President Volodymyr Zelenskyy told CNBC.
Austin expresses ‘concern’ to China defense chief over its activities in Taiwan Strait
The meeting between the two sides was the first in person talk between Chinese and U.S. defense chiefs since November 2022.
South Africa’s election portal resumes showing partial results after brief glitch
Live updates with partial results from South Africa’s parliamentary polls reappeared on the electoral commission’s website, following a glitch.
Britain cuts stake in NatWest via £1.24 billion share sale
The British government has sold 1.24 billion pounds ($1.58 billion) worth of shares in NatWest Group back to the lender, it said on Friday, decreasing its stake to about 22.5% from nearly 26% previously.
