Newly installed Federal Reserve Chair Kevin Warsh signaled an imminent shift in US interest rate policy during his first public remarks in the role.
- DNyuz — Ever since Kevin Warsh was nominated by President Trump in late January to lead the Federal Reserve, a question has lingered: Will he seek to raise interest rates to tame inflation or cut them as Trump has long demanded?
- ABC News — markets watching Warsh's communication style and forward-guidance framing as much as the rate decision
- CNBC — CNBC survey: broad consensus on rate hold; focus on whether Warsh changes Fed's communication tone
The Bank of Japan raised interest rates to their highest level in more than 30 years, a significant policy shift with global implications for borrowing costs and currency markets.
- The Independent (UK) — Asian shares are mostly higher and Japan's benchmark Nikkei 225 briefly topped 70,000 for the first time before trimming early gains after the Bank of Japan raised its key interest rate to 1%
- BBC — BOJ has been lifting rates from near-zero since 2024
- Nikkei Asia — Bank of Japan raises rates as deputy governor flags inflation risks and Iran uncertainty
- Al Jazeera — Bank of Japan hikes benchmark rate to 1 percent, continuing shift away from decades of ultra-low borrowing costs.
- CNBC — Yen weakness alongside inflation drove the timing of the decision
Also covered by ABC News · Financial Times · Semafor
SpaceX secured a major commercial deal with AI coding tool Cursor, with reports citing a figure in the tens of billions of dollars to power AI development infrastructure.
- The Independent (UK) — SpaceX takes over San Francisco maker Anysphere in $60bn deal
- Hacker News — $60B buys Cursor operator Anysphere
- Business Insider — Elon Musk's SpaceX announced a deal that had an option to buy Cursor earlier this year.
- DNyuz — deal came days after SpaceX's landmark IPO — riding the post-listing momentum
- CBS News — Follows largest IPO in history, which raised $75 billion
- 9to5Mac — When SpaceX isn’t landing rockets, it’s apparently landing AI company deals. In February, the firm behind Starlink absorbed xAI, which includes Twitter-turned-X.
Also covered by Drudge Report · Ars Technica · BBC · Reuters · CNBC · Channel News Asia +2 more
The European Parliament approved a long-negotiated major trade agreement with the United States, a significant shift in transatlantic economic relations.
- Financial Times — European parliament votes yes to last year’s agreement with Donald Trump to stave off tariff threat
- Deutsche Welle — deal lowers tariffs on key goods; parliament approval follows years of negotiations
Also covered by Politico Europe
Audited figures reveal mounting costs from model development, infrastructure and rapid expansion
Also covered by Financial Times
Bain Capital stands to pocket a $15bn gain on chipmaker Kioxia
Also covered by Financial Times
Emma Reynolds’ warning increases prospect of the nationalisation of Britain’s biggest water company
Also covered by Financial Times
A bombshell investigation revealed that the same trip on the same app at the same moment can carry prices varying by hundreds of percent, driven by AI-driven dynamic pricing that also generates fake discounts. Researchers documented as many as 29 distinct price points for one route. The findings reignite regulatory scrutiny over algorithmic pricing in the gig economy.
Also covered by New York Post · Business Insider · DNyuz · NBC News
Shipowners will not resume transit until they are certain the deal is 'material'.
Also covered by The Straits Times
Iranian officials have said tolls or “service fees” could be imposed on ships passing through the strait.
Also covered by The Straits Times
Europe and Asia fast-tracking energy diversification deals as direct result of Hormuz disruptions
Also covered by The Straits Times · New York Times
Mitsui OSK Lines boss cautions that fleet owners need to build confidence after months of conflict
Also covered by Financial Times
China is reaching beyond rare earth minerals to put restrictions on other key goods, so it can inflict pain in future trade wars while insulating itself from attacks.
Also covered by Drudge Report
SpaceX raised $75 billion in the largest IPO in US history, with shares surging 19 percent on their Nasdaq debut and pushing Elon Musk's net worth past $1 trillion.
- CNBC — SpaceX shares climb 3% in premarket after Monday's 20% surge following IPO announcement
- Semafor — SpaceX extends its own record-breaking IPO performance in extended trading
- Financial Times — How Wall Street pulled off the biggest IPO in history for SpaceX's debut
- NPR — The initial public offering from the rocket and AI company raised some $75 billion, making the company one of the biggest in the world — and likely making Elon Musk a trillionaire.
- Daily Wire — Opened at $150, topped Saudi Aramco's record, Musk poised to become world's first trillionaire
Also covered by Channel News Asia · Axios · Barron's
The deal offloads Pizza Hut's US restaurant operations after years of declining same-store sales and store closures eroded the brand's market position. Yum China will also take a stake under the agreement. The transaction allows Yum Brands to focus on its stronger-performing KFC and Taco Bell chains.
- Financial Times — KFC and Taco Bell owner to offload bulk of fast-food chain to private equity group as part of $2.7bn sale
- CBS News — The sale will split ownership of the pizza chain between a U.S.-based private equity firm and a Chinese restaurant company.
Also covered by BBC · New York Post · ABC News · Business Insider · The Independent (UK) · CNBC