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Musk heads to France for Macron meeting
Billionaire Elon Musk is set to meet French President Emmanuel Macron in Paris on Friday for the second time in just over a month, as France aims to curry favour and attract investment from the Tesla boss. Musk and Macron held talks in May and afterwards the maverick boss of Twitter and SpaceX said he was considering big investments in France.
Bank of Japan sticks to ultra-loose monetary policy
The Bank of Japan said Friday it would maintain its long-standing, ultra-loose monetary policy as it looks to boost economic growth. Shigeto Nagai of Oxford Economics said the Bank of Japan did not seem in a hurry to change its ways, "despite recent upside surprises both on the growth and inflation fronts".
Vietnam's power crisis hits local firms, foreign investors
An intensely hot summer and unprecedented drought are straining energy supplies in northern Vietnam, prompting rolling blackouts and sudden power outages that have led to "uncountable" losses among local firms and foreign manufacturers.
Asian markets mostly up as traders eye China stimulus
Hopes China will unveil fresh measures to kickstart its ailing economy lifted most markets Friday, while the dollar struggled to bounce from losses fuelled by bets the Federal Reserve is near the end of its tightening cycle. However, Tokyo struggled on a stronger yen, even as the Bank of Japan on Friday stood pat on its ultra-loose monetary policy.
Top executive quits Nissan in new leadership turmoil
Nissan top executive Ashwani Gupta is leaving the company, the Japanese automaker said Friday, in a surprise departure that will revive concerns about the stability of the firm's leadership. Nissan said Gupta had "elected to leave the company to pursue other opportunities effective June 27", without detailing the reasons for his departure.
Pause, hike, cut: Central banks diverge over regional challenges
In Washington they paused; in Frankfurt they hiked; and in Beijing, they cut. - Skip, Hike and Cut - On Wednesday, the US Federal Reserve paused its aggressive campaign of interest rate hikes after 10 straight increases, which brought its benchmark lending rate from close to zero to a range between 5.0 and 5.25 percent.
Crunch time at UPS with strike looming
The Teamsters union, which represents hundreds of thousands of UPS employees, is set to reveal Friday whether it has authorized a strike against the delivery service -- a work stoppage seen as unlikely, but one that would certainly rattle the US economy.
Spend now, worry later: no point saving in inflation-stricken Argentina
Despite a biting economic crisis, restaurants in Buenos Aires are full and queues for theater and concert tickets long. "We are very tired of economic problems," 25-year-old chef Santiago Basavilbaso told AFP as he shopped for fresh produce for his restaurant.
US clampdown has crypto kings looking abroad
After years on the sidelines, financial regulators in the United States are throwing the book at the free-wheeling cryptocurrency industry, with angry entrepreneurs threatening to take their business overseas. "The US government is making it very difficult for traditional financial institutions", particularly banks, "to engage in cryptocurrencies", said Goforth.
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