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Yen sinks to 34-year low past 160 per dollar
The yen sank to a new 34-year low past 160 per dollar on Monday after a forecast-beating US inflation reading dented expectations for US interest rate cuts this year. "Markets appear to be trying to push dollar-yen towards 160 in the absence of official intervention," said Vishnu Varathan, at Mizuho Bank.
Yen slides to fresh 34-year low against dollar, stocks rally
The yen slumped to a fresh 34-year low against the dollar on Monday, fuelling expectations Japanese authorities would step in to support their currency for the first time since late 2022. The yen slipped to 160.17 to the greenback in morning trade, stirring speculation that Japanese authorities would intervene to arrest its slide.
France moves to acquire key activities of tech giant Atos
French Finance Minister Bruno Le Maire on Sunday said he had moved to acquire the "sovereign activities" of debt-laden French tech giant Atos and prevent foreign ownership of them. Le Maire told television channel LCI that he had sent a letter of intent, a non-binding action, this weekend "with a view to acquiring all the sovereign activities of Atos".
Pope holds mass in Venice's St Mark's, first trip in months
Pope Francis presided over mass in Saint Mark's Square in Venice on Sunday, warning of environmental damage and over-tourism in a closely watched visit, the first for the ageing pontiff outside Rome since last year.
Tesla CEO Elon Musk in China for talks
Tech billionaire and Tesla CEO Elon Musk was in China for talks on Sunday, making his second trip in less than a year to the world's biggest market for electric vehicles. "It's good to see electric vehicles making progress in China," he was quoted as saying by a state-backed media outlet on Sunday.
US Fed to meet amid dwindling hopes of summer rate cuts
The US Federal Reserve is highly likely to keep interest rates unchanged later this week, as policymakers contend with a recent uptick in inflation that has sharply cut the chance of a summer start to interest rate cuts.
TikTok creators fear economic blow of US ban
Ayman Chaudhary turned her love for reading into a living on TikTok, posting video snippets about books like those banned in schools in ultra-conservative parts of the United States. She saw books she extolled snapped up by readers, as she shined attention on titles banned from schools or libraries in parts of the country.
Gaza set to dominate Saudi-hosted global economy summit
The war in Gaza and broader Middle East tensions are expected to get top billing at a Saudi-hosted special meeting of the World Economic Forum that begins on Sunday.
Olympic deal shows bubbling market for zero-alcohol beers
For the first time this summer, as sportswomen and men strive for victory in Paris, spectators will be able to sip the official beer of an Olympic Games. But as the market has grown, brewers have upped their game and spent big on making their products more palatable.
AFP
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