US first-quarter GDP growth revised lower to 1.6% pace
WASHINGTON: U.S. economic growth was not as strong as initially thought in the first quarter, and momentum is set to slow this quarter, with the war with Iran stoking inflation and squeezing households finances.
US weekly jobless claims increase marginally amid low layoffs
WASHINGTON: The number of Americans filing claims for unemployment benefits increased marginally last week amid relatively low layoffs, despite the dragging war with Iran.
Thailand eyes US$5bil from notes, loans as bond yields soar
Thailand plans to raise about US$5bil through a mix of promissory notes and term loans to fund a raft of measures to ease living costs, shunning bonds after the Iran war sent sovereign yields to multi- month highs.
Business elite clash with a populist push
Swiss drugmaker Roche Holding AG employs workers from more than 100 countries at its headquarters in Basel.
Industrial profits soar
China's industrial companies have seen their profits soar at the fastest in more than two years, lifted higher by demand for artificial intelligence (AI)-related goods and a surge in oil prices stemming from the Iran war.
NZ central bank holds rates steady in tight vote
New Zealand's central bank holds rates steady, but a split vote underscores a knife-edge decision, as policymakers warn rates will need to rise sooner and by more than expected to counter an energy shock rippling through the global economy.
Australia fuel tax cut masks price pressures
Australian consumer prices increased by less than expected in April thanks to a government tax cut on fuel, data shows, while core inflation ticked up as higher oil prices fed through to the broader economy.
Downturn looms for Vietnam textiles with 2Q orders tipped to drop
Despite continued export growth, the textile and garment industry is facing the risk of a downturn as second-quarter orders are forecast to fall sharply by 20% to 25%.
UBS’s Khan says AI will have ramifications on jobs
UBS Group AG's Asia-Pacific president Iqbal Khan says artificial intelligence (AI) will free up capacity and improve productivity but also have an impact on jobs.
Ueda: Temporary energy shock can become persistent
Bank of Japan (BoJ) governor Kazuo Ueda says central banks should not look at oil prices in isolation because a temporary energy shock can become persistent if it feeds into wages, expectations, and price-setting behaviour.
