ARMS TRADE
SoftBank trades above record-high close in win for Masayoshi Son
SoftBank's shares surge on AI and chip investments, led by Masayoshi Son's strategic moves with key partnerships and focus on energy-efficient architecture. Despite market volatility and past setbacks, the company remains a prominent player in the global tech landscape.
Megacaps boost Nasdaq in choppy trade; jobs data in focus
Semiconductor stocks such as Advanced Micro Devices, Arm Holdings and Micron Technology fell between 1% and 4%, pulling the Philadelphia SE Semiconductor index to a near one-week low.
Madras HC delivers shot in the arm for online pharmacies
In a shot in the arm for epharmacies, the Madras High Court overturned a previous ruling by a single-judge bench restricting online platforms like Tata 1mg, PharmEasy, Netmeds, and Practo from engaging in the digital trade of medicines.
Russia Ukraine war: North Korea criticises US for providing military aid to Ukraine
Russia Ukraine war: A top North Korean military official criticised the US over military aid to Ukraine in support of Russia, deepening concerns over Moscow and Pyongyang's military cooperation. A recent pact between Vladimir Putin and Kim Jong-Un commits immediate military assistance in case of aggression, potentially facilitating arms trade and anti-US coalition. North Korea plans to send construction forces to Russia-occupied Ukrainian territories for rebuilding work, raising tensions with China.
Russia and North Korea sign partnership deal that appears to be the strongest since the Cold War
Russian President Vladimir Putin and North Korean leader Kim Jong Un signed an agreement pledging mutual aid against "aggression," signaling stronger ties amid their standoffs with the West. The summit marked Putin's first visit to North Korea in 24 years and raised concerns over potential arms deals for Russia's war in Ukraine. The agreement enhances security, trade, and cultural ties. U.S. and South Korean officials expressed alarm, and Putin’s subsequent visit to Vietnam underscores Russia’s efforts to bolster alliances amid global tensions.
South Korea blasts Russia-North Korea deal, says it will consider supplying arms to Ukraine
South Korea condemns Russia and North Korea's mutual defense agreement, reconsidering support to Ukraine. North Korea and Russia vow military assistance in case of war, causing concern. Seoul warns of negative consequences on relations with Moscow.
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EVs versus pork: China has its hand on a raw nerve of Europe
The escalating trade tensions between Europe and China over electric vehicles have the potential to ignite a new trade war. As Europe imposes tariffs on Chinese EVs, China retaliates by targeting European farmers, particularly in the pork industry. This tit-for-tat strategy threatens to impact various sectors on both sides.
Putin in Vietnam, seeking to strengthen ties in Southeast Asia while Russia's isolation deepens
Putin was greeted by dignitaries upon his arrival in the Southeast Asian country as soldiers in white dress uniforms stood at attention. He arrived from North Korea, where he and North Korean leader Kim Jong Un signed an agreement that pledges mutual aid in the event of war.
North Korea says deal between Putin and Kim requires immediate military assistance in event of war
The new agreement between Russia and North Korea, as reported by North Korean state media, requires the countries to provide immediate military assistance to each other in the event of war. This agreement marks a significant upgrade in their relations, covering security, trade, investment, cultural, and humanitarian ties. The summit between Kim Jong Un and Vladimir Putin also raised concerns about a potential arms arrangement between Pyongyang and Moscow, with North Korea supporting Russia's war in Ukraine. Tensions on the Korean Peninsula remain high, with ongoing weapons tests and military exercises involving the U.S., South Korea, and Japan.
Before his summit with North Korea's Kim Jong Un, Vladimir Putin vows they'll beat sanctions together
Russian President Vladimir Putin expressed gratitude to North Korea for supporting his actions in Ukraine and pledged close cooperation to overcome US-led sanctions. Ahead of his two-day summit with North Korean leader Kim Jong Un, Putin highlighted their mutual opposition to Western ambitions and plans to develop independent trade and payment systems. Putin’s visit marks his first to North Korea in 24 years and underscores growing military and economic ties. US and South Korean officials have accused North Korea of supplying Russia with military aid for the Ukraine conflict, which both countries deny.
Allcargo Logistics arm partners with ShipBob for ocean, air freight services
ECU Worldwide, a subsidiary of Allcargo Logistics, partners with ShipBob to offer freight services globally through FreightBob program, enhancing e-commerce inventory management with ECU360 tech-driven platform.
Modi 3.0 takes aim: Blueprint to make the Indian armed forces future ready
India faces growing security challenges from China and Pakistan, prompting calls for a robust and integrated defence strategy. This includes bolstering nuclear deterrence, enhancing military capabilities, and pushing for systemic reforms in defence production and organization. The new government must prioritize these measures to ensure national security and strategic autonomy in the coming years.
Elliott rebuilds stake in SoftBank and pushes for $15 billion buyback: Report
SoftBank Group's shares surged to a three-year high after activist investor Elliott Management proposed a $15 billion buyback. CEO Masayoshi Son's confidence in the strategy was highlighted. The financial boost was attributed to the success of British chip-designer Arm Holdings.
Strong order flow likely to help BEL stay on growth path
The company anticipates order inflow of around Rs 70,000 crore over the next two years compared with the previous forecast of Rs 50,000 crore. The revised outlook reflects a new order prospect of Rs 30,000 crore for the Quick Reaction Surface to Air Missile (QRSAM) from the Army and Air Force, expected to materialize in the next fiscal year.
Memorial Day 2024:Will US stock markets remain open? Know the trading schedule
Memorial Day holds great significance in the United States, as it is a holiday dedicated to honoring and remembering the men and women who have made the ultimate sacrifice while serving in the U.S. military.
Nvidia adds over $200 billion in market value in post-earnings rally
Nvidia's shares surged over 9% on Thursday, adding $218 billion in market value, the second-largest single-day gain in history on Wall Street, fueled by a bumper revenue forecast reinforcing investor confidence in the AI-driven chip demand boom.
Nvidia's blowout forecast adds fresh fuel to AI rally; stock jumps 9%
Nvidia rallied 9% on Thursday as its bumper revenue forecast reinforced investor confidence in the AI-driven boom in chip demand, lifting shares across the semiconductor sector.
Microsoft debuts 'Copilot+' PCs with AI features
At an event on its campus in Redmond, Washington, Chief Executive Satya Nadella introduced what Microsoft calls "Copilot+" PCs, saying that it and a range of manufacturers would sell them, including Acer and Asustek Computer.
German defence industry says it will need government help to reduce dependence on China
Hans Christoph Atzpodien, head of the Bundesverband der Deutschen Sicherheits- und Verteidigungsindustrie (BDSV), said the U.S. defence industry had, under government pressure, widely shed their dependency on Beijing in recent years.
Xi Jinping, Vladimir Putin hold talks in Beijing to discuss future strategic ties
Russian President Vladimir Putin visited China to hold talks with China President Xi Jinping. The two leaders discussed about the Ukraine war and the increasing pressure on Beijing from the US and EU for supporting Russia. This is Putin's first foreign visit after being elected for the fifth term. Russia's large delegation, including five deputy prime ministers and other senior officials, is expected to discus trade and economic cooperation.
MHA directs CAPFs to adopt BSF's 'beehives on border fence' model across the country
The Union home ministry directs central paramilitary forces to replicate a beekeeping model on the border fence by a BSF unit in West Bengal to boost employment opportunities, enhance security, and combat trans-border crimes.
MHA directs CAPFs to adopt BSF's 'beehives on border fence' model across the country
The Union Home Ministry has instructed all central paramilitary and allied forces to replicate a successful beekeeping model initiated by a BSF unit in West Bengal along the border fence. This initiative aims to create employment opportunities for locals and enhance goodwill, thereby strengthening security measures. The model, lauded during a meeting chaired by Union Home Secretary Ajay Bhalla, involves installing beehives on the border fence to deter crimes like smuggling and fence cutting while engaging locals in productive work.
SoftBank seen returning to loss in Q4 despite tech stock strength
SoftBank Group anticipates losses despite Arm Holdings' success, with potential new growth investments. The soaring Arm share price, driven by AI, doesn't directly impact SoftBank's profit. Other listed assets showed mixed performance, influencing SoftBank's financial outlook.
SoftBank sells off Vision Fund assets as Son pivots to AI, chips
SoftBank is shifting focus to AI and semiconductors, while its Vision Fund is selling stakes or writing down billions of dollars worth of its publicly-listed companies. SoftBank founder Masayoshi Son is looking to bankroll a $100-billion chip venture to compete with Nvidia for providing semiconductors to power the development of AI services.
Arm shares fall 6% as tepid forecast takes shine off AI optimism
Shares of Arm Holdings fell 6% on Thursday as the chip designer's downbeat annual revenue forecast cooled some of the enthusiasm around the stock following its AI-powered jump in recent months.
Arm's annual revenue forecast fails to impress investors; shares tumble
For the current fiscal first quarter, Arm forecast revenue in a range between $875 million and $925 million, with a midpoint of $900 million, compared with an average analyst estimate of $857.5 million, according to LSEG data.
Myanmar displaced now at 3 million: UN
The number of displaced people in Myanmar has reached three million, the United Nations said, the vast majority forced to flee their homes by conflict unleashed by the military's 2021 coup. The coup sparked renewed clashes with established ethnic armed groups and birthed dozens of new "People's Defence Forces" that the military has failed to crush.
US confident about meeting new deadline for UK, Australia AUKUS exemptions
A top U.S. arms control official expressed confidence on Tuesday that the country is likely to meet a new deadline to finalize trade exemptions for the AUKUS defense project with Australia and Britain. AUKUS, established in 2021 to address concerns about China's growing power, involves Australia acquiring nuclear-powered attack submarines and deepening defense cooperation. The sharing of technology under AUKUS is subject to strict U.S. International Trafficking in Arms Regulations (ITAR). Although a 120-day deadline to qualify Australia and Britain for exemptions passed without certification, the State Department expects to finalize the exemptions after an additional 120 days.
Amid rising defense imports, India slashes procurement from Russia to less than half, a first since 1960s
India is strategically diversifying its defense procurement strategy, reducing reliance on Russian arms amidst tensions with Pakistan and China. SIPRI reports a significant decline in India's arms imports from Russia, marking the first time since the 1960s that less than half of imports come from Russia. This shift includes increased orders from Western countries like France and the United States, strengthening strategic partnerships. The move responds to heightened tensions with Pakistan and China, emphasizing bolstering defense posture through diversified imports and indigenous development.
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