A conflict between the US and China over computer chips — or semiconductors — has been escalating in recent months. In particular, the US has taken steps to limit China’s access to advanced chip technology amid heightened international competition in the area.

The US recently tightened export controls to undercut China’s access to high-end chip manufacturing equipment and has banned top talent from working for Chinese semiconductor firms. Beijing retaliated by banning US chip maker Micron from operating in China.

The microchip industry would implode if China invades Taiwan, and it would affect everyone

Russian President Vladimir Putin said on Friday that Ukrainian forces had certainly begun their expected counteroffensive in intense fighting in Ukraine, but that every attempted advance had failed, at a heavy cost in casualties.

Putin says Ukrainian counteroffensive has failed so far

The White House said on Friday that Russia appeared to be deepening its defence cooperation with Iran and had received hundreds of one-way attack drones that it is using to strike Ukraine.

Citing newly declassified information, the White House said the drones, or Uncrewed Aerial Vehicles (UAVs), were built in Iran, shipped across the Caspian Sea and then used by Russian forces against Ukraine.

Russia has received hundreds of Iranian drones to attack Ukraine — White House

Foreign investors piling into Asian fixed income and stocks propelled emerging market portfolio inflows to US$10.4 billion in May, offsetting Chinese bonds suffering a third straight month of outflows, the Institute of International Finance (IIF) found.

Investors channel billions into emerging markets, but China drops again — IIF

The US Department of Defense announced an additional US$2.1 billion in security assistance for Ukraine on Friday, including air defence and ammunition capabilities, amid signs that Kyiv had begun its long-awaited counteroffensive against Russia.

The package includes additional munitions for Patriot air defence systems, Raytheon HAWK air defence systems and missiles, 105mm and 203mm artillery rounds, small AeroVironment drones that can be launched by hand, laser-guided rocket system munitions and support for training and maintenance, the Defense Department said.

US announces US$2.1 bil more military assistance for Ukraine

The S&P 500 and Nasdaq hit fresh 2023 highs on Friday as Tesla shares jumped following a tie-up with General Motors, while investors awaited inflation data and US monetary policy decision due next week.

S&P, Nasdaq hit fresh 2023 highs as Tesla rallies

The United States has charged two Russian nationals in the hack of collapsed cryptocurrency exchange Mt Gox, one of the world's earliest, biggest and most widely publicized alleged bitcoin heists.

The department in a statement said Alexey Bilyuchenko, 43, and Aleksandr Verner, 29, were charged with conspiring to launder approximately 647,000 bitcoins from their hack of Mt Gox, which collapsed in 2014 after losing what was then worth about half a billion dollars in cryptocurrency.

US charges two Russians in hack of Mt Gox crypto exchange

UBS and the Swiss government agreed on Friday (June 9) how they will share losses linked to the bank's emergency takeover of Credit Suisse, clearing the way for the deal to close within days, and creating a giant Swiss bank and cementing its position as a global wealth manager.

UBS, Swiss govt sign Credit Suisse loss-sharing deal clearing way for deal to close

A weekly round-up of tanker and dry bulk market (June 9, 2023)

Baltic Exchange shipping updates: June 9, 2023

Retail trading in US stocks is starting to pick up again after months of slowdown, data showed, as the hype around artificial intelligence (AI) and a tamer interest-rate outlook prove hard to resist.

Retail traders tiptoe back into US stocks after three-month hiatus

Shell will keep oil output steady or slightly higher into 2030 as part of CEO Wael Sawan's efforts to regain investor confidence as the energy giant wrestles with poor returns from renewables while oil and gas profits are booming, company sources said.

Shell pivots back to oil to win over investors — sources

UK lenders, led by HSBC Holdings plc, are removing mortgage deals from the market again as they prepare to reprice home loans to account for inflation.

HSBC among UK banks pulling mortgage deals from market

Japan’s securities watchdog is seeking penalties on two regional banks for improperly selling structured bonds, a rare move that could send a signal to the broader industry about its sales practices.

Japan's watchdog seeks penalty on regional banks over bond sales

Bank of Japan (BOJ) officials see little need to adjust its yield curve control programme in a policy meeting next week, given improvement in the functioning of the bond market and the smooth shape of the yield curve, according to people familiar with the matter.

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