Iron ore dropped to the lowest level in more than six weeks on worries over the outlook for Chinese demand, which has been hammered by the protracted property crisis. from Bloomberg Markets https://ift.tt/pQ7i5ra
OPEC+ tentatively agreed to extend all production curbs into next year, a deal that gives the cartel considerable leeway to make adjustments depending on market conditions and that likely signals oil prices will remain elevated through the U.S. presidential election. https://www.wsj.com/business/energy-oil/opec-agrees-to-extend-production-cuts-in-bid-to-boost-oil-prices-7ef55454
Sandwiched between the world’s great global powers in a time of deepening global tensions, Greek shipowners are still finding a way to thrive. from Bloomberg Politics https://ift.tt/BoWYlxG
South Korean President gave the green light to conduct exploratory drilling for potentially vast oil and gas prospects found off the east coast of the nation. https://www.cnbc.com/2024/06/03/south-koreas-yoon-approves-exploration-of-vast-oil-gas-prospects-off-the-coast.html
Naomi Fink, Global Strategist for Nikko Asset Management, discusses her outlook for Asia markets and says she is still constructive on Japan equities. She speaks with with Shery Ahn and Haidi Stroud-Watts on “Bloomberg: The Asia Trade”. (Source: Bloomberg) from Bloomberg Markets https://ift.tt/cTHb4px
The U.S. is seeking to end the war through a cease-fire proposal backed by President Biden, while also joining talks this weekend to reopen the route for aid into Gaza from Egypt. https://www.wsj.com/articles/u-s-presses-two-lane-diplomacy-on-gaza-facing-road-bumps-in-both-c3093c56
The Tories aren’t entirely to blame for the dire state of the NHS, but the party missed big opportunities to make it better. from Bloomberg Politics https://ift.tt/fyOabXZ
Trump, who once tried to ban TikTok, joined the social-media platform and posted a 13-second clip of himself at an Ultimate Fighting Championship event in Newark, N.J. https://www.wsj.com/tech/donald-trump-joins-tiktok-years-after-trying-to-ban-the-app-431b5cad
Autodesk said it won’t restate financial results after an investigation into its accounting practices that found executives at the design-software firm shifted some charges and payments to affect results. https://www.wsj.com/business/c-suite/autodesk-wont-restate-financial-results-following-accounting-probe-2e771890
China should issue much more central government debt to make up for the inability of cash-strapped local authorities to spend money and drive growth, according to one of the country’s leading economists. from Bloomberg Markets https://ift.tt/D97jmNJ