WASHINGTON (June 2): U.S. job growth likely slowed in May, with wages coming off the boil, potentially allowing the Federal Reserve to skip an interest rate hike this month for the first time since embarking on its aggressive policy tightening campaign more than a year ago.

Nevertheless...

Slower US job, wage gains expected in May

Having sweltered through May, southern and eastern China face more weeks of unrelenting heatwaves, putting power grids under strain as demand for air-conditioning soars in mega-cities like Shanghai.

'Relentless' heatwaves scorch southern China, test power grids

SoftBank Group Corp is on track for the best weekly gain since March 2020 as analysts and investors become more bullish on its potential as an artificial intelligence (AI) stock.

The shares rose as much as 6% on Friday (June 2), and are poised for a jump of about 18% on the week. Jefferies provided the latest spark, upgrading SoftBank to buy from hold, saying it is a “likely beneficiary” of the frenzy in recent stocks following Nvidia Corp’s bullish sales forecast last month.

Now seen as an AI stock, SoftBank is set for its best week in three years

Chanel rented a two-floor shop in Hong Kong’s prime shopping area Causeway Bay, signing one of the biggest leases since the pandemic.

The luxury brand committed to a three-year lease for the ground-level retail space at Capitol Centre starting in mid-May, according to government records.

Chanel adds new Hong Kong retail space as tourists return

Americanas SA debt holders are set to rebuff the Brazilian retailer's bankruptcy recovery plan, according to minutes of meetings to discuss the plan released on Thursday (June 1).

Debt holders of Brazilian retailer Americanas to rebuff recovery plan

The US on Thursday (June 1) imposed sanctions on companies it accused of fuelling the conflict in Sudan, stepping up pressure on the army and a rival paramilitary force to stop fighting raging in Khartoum and other regions.

US imposes sanctions on companies tied to Sudan forces as fighting rages

Australia’s largest pension fund AustralianSuper has frozen all future contracts with PricewaterhouseCoopers as it assesses the fallout of the embattled accounting firm’s tax advice scandal.

PwC contracts frozen by US$191b Australian pension fund

Oil prices rose on Friday (June 2) amid bullish sentiment following the passage of a US debt ceiling bill in Washington, while markets weighed the likelihood of price-supportive Opec+ production cuts over the weekend.

Oil prices rise as Congress approves US debt ceiling bill

Investors across Asia earmarked China’s ballooning levels of municipal borrowing as the region’s number one financial risk this year in a survey that ranked their biggest concerns.

China local government financing vehicles, or LGFVs, were the most frequently cited top risk in a Bloomberg survey of 53 economists, money managers and strategists at financial institutions ranging from sovereign wealth funds to banks and pensions.

Investors zero in on China local debt blowup as top risk in Asia

SEOUL (June 2): South Korea's consumer inflation eased for a fourth consecutive month in May to its slowest pace in 19 months, data showed on Friday, matching market expectations.

South Korean inflation cools to 19-month low

WASHINGTON (June 1): US Treasury Secretary Janet Yellen on Thursday told incoming World Bank Group President Ajay Banga to "get the most out of the bank's balance sheet" and mobilise more private capital for climate finance and global development objectives, the Treasury said.

Yellen urges new World Bank chief to 'get the most' from balance sheet

WASHINGTON (June 1): The US Senate is on track to pass a bill to lift the government's US$31.4 trillion debt ceiling late on Thursday, Democratic Majority Leader Chuck Schumer announced, adding, "We are avoiding default tonight".

US Senate set to pass debt limit suspension bill on Thursday night

KUALA LUMPUR (June 2): Tesla Inc CEO Elon Musk has reclaimed the title of the planet’s richest man after a six-month hiatus, with a total wealth of US$195 billion, pushing Frenchman Bernard Arnault to second spot with US$187 billion.

Elon Musk knocks Bernard Arnault off the perch to reclaim top spot

SYDNEY (June 2): Australia's independent wage-setting body said on Friday it would raise the minimum wage by 5.75% from July 1, as families grapple with soaring living costs.

The lowest-paid employees will receive A$22.61 ($15.34) an hour from July 1, according to Reuters calculations b...

Australia raises minimum wage by 5.75% as living costs surge

Malaysia’s economic growth to moderate to 4.5% in 2023, says IMF

The New Global Economy: Growing out of the developing-country debt crisis

SC adds one potential clone to Investor Alert List

Panasonic Malaysia, Affin Hwang Investment, Velesto Energy, Green Packet, Top Builders Capital, Star Media, Citaglobal, AME Elite, SCIB, UP, Meta Bright, Top Builders, Kimlun and Synergy House

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