UPDATE 1-Kimmeridge ready to negotiate proposed offer for SilverBow after latest rebuff

The Telegraph
Joe Biden has found a new way for electric cars to kill the economy
The price of a slick new BYD will double. The value of tech giant Xiaomi’s new SUV – which will sync with your phone – will go through the roof.
Bloomberg
Malaysia's Johor eyes Shenzhen-style hub with Singapore, report says
Malaysia’s Johor state is proposing its economic and petrochemical hubs as the sites for a special zone with neighbour Singapore, as it aims to become the “Shenzhen of Southeast Asia,” according to a report in the Star.
Simply Wall St.
3 High Yield Dividend Stocks On SGX With Returns Up To 6.3%
Amidst the dynamic landscape of the Singapore stock market, investors continue to seek stable and potentially lucrative opportunities, particularly in high-yield dividend stocks. In this context, understanding what constitutes a robust dividend stock can be crucial, especially when navigating through varying economic conditions that influence market performance.
Reuters
CORRECTED-UPDATE 2-TSMC says can make next generation chips without ASML's new machine
Taiwanese chipmaker TSMC does not necessarily need to use ASML's next generation "High NA EUV" machines for an upcoming generation of chip manufacturing technology called A16, which is under development for the second half of 2026, an executive said on Tuesday. The High NA lithography tools are expected to help shrink chip designs by up to two-thirds, but chipmakers must weigh that benefit against a higher cost and whether ASML's older tech may be more reliable and good enough. Speaking at a conference in Amsterdam, Kevin Zhang said that it is possible that the company's A16 plants could be designed to accommodate the technology, but that is not certain.
Reuters
Blackstone-led consortium eyes snacks business of India's Haldiram's, sources say
A consortium including Blackstone, Singapore state fund GIC and Abu Dhabi Investment Authority (ADIA) is in talks with India's Haldiram's for a majority stake in its snacks business at a valuation of up to $8.5 billion, two sources with direct knowledge said. Haldiram's, a household name in India, has more than 150 restaurants selling local food, sweets and western cuisine.
Yahoo Finance Video
Tesla to rehire some of its laid off Supercharger team: BBG
Tesla (TSLA) appears to be backtracking on its recent workforce reduction strategy, as Bloomberg reported the electric vehicle giant is rehiring some of its Supercharger team. This move comes just a month after CEO Elon Musk laid off nearly all of its employees on the Supercharger network team. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith
Associated Press
Morocco’s automotive industry shifts gears to prep for electric vehicle era
A train that travels from rural northern Morocco to a port on the Mediterranean Sea carries no passengers. Three times a day, it brings hundreds of cars stacked bumper to bumper from a Renault factory outside Tangiers to vessels that transport them to European dealerships. Business incentives and investing in infrastructure like the freight railway line have allowed Morocco to grow its automotive industry from virtually non-existent to Africa's largest in less than two decades.
The Edge Singapore
Golden-Agri Resources reports 1QFY2024 earnings of US$37 mil, down 60% y-o-y
Supply constraints will gradually ease in the coming quarters
Reuters
Argentina raises domestic bioethanol prices, lowers biodiesel
Argentine authorities on Monday hiked domestic market prices for bioethanol while lowering those for biodiesel, as the country's official gazette set new rules for the fuels, which are mandatory for mixing with gasoline in the South American country. Argentina's Energy Secretariat, a branch of the economy ministry, lowered the minimum purchase price for biodiesel, to 938.540 pesos per metric ton (about $1,062), down from a previous 940.334 pesos. Argentina, which is battling sky-high inflation and soaring poverty amid its worst economic crisis in decades, is a major global producer of biofuels, particularly biodiesel, and regularly raises prices for the domestic market.
Reuters
Boeing, Airbus need to do more to reduce new jet delays, Qatar Airways CEO says
Planemakers Airbus and Boeing need to put more pressure on their suppliers to reduce the delivery delays of new aircraft that are hindering airlines' ability to meet travel demand, Qatar Airways CEO said on Wednesday. "We are ... really trying our best to assist both Boeing and Airbus and try to find solutions for them to make sure they deliver," Badr Mohammed Al Meer said on a panel at the Qatar Economic Forum in Doha. Demand for air travel has rebounded since the pandemic, but planemakers are struggling to get back to previous production levels due to disrupted supply chains and a safety crisis at Boeing.
Barrons.com
Biden’s EV Tariff Is All for Show. Tesla, GM, and Ford Already Have Protection.
The existing 25% tariff on vehicles from China has effectively closed the border already. Raising it to 100% doesn’t make much difference.
Reuters
Oil settles lower as inflation data gives way to market jitters
Oil prices settled lower on Tuesday, after U.S. data stoked concerns that interest rates may stay high, but potential risks to supply from Mideast tensions and wildfires in Canada put a floor under prices. U.S. producer prices increased more than expected in April, feeding fears the Federal Reserve may keep borrowing costs elevated to fight inflation. Fed Chair Jerome Powell said he expects U.S. inflation to keep declining through 2024 but warned he is less confident now, since prices rose more quickly than expected through the first quarter.
Yahoo Finance Video
Gaming industry: How to level up your investments
The video game industry has taken a hit as layoffs have affected multiple companies. Video game stocks like Electronic Arts (EA) and Take-Two Interactive (TTWO) remain down year-to-date, but is there optimism on the horizon for the industry?  Wedbush Securities Managing Director Michael Pachter joins Yahoo Finance to give insight into the health of the gaming industry and what investors need to know when adding gaming picks to their portfolios. Pachter explains why Ubisoft (UBI.PA) is a Wedbush top pick in the gaming sector: "In that Activision-Microsoft (MSFT) merger, the UK regulators kind of stuck their nose in the middle of all of it, forced Activision to sell the global streaming rights to its content to somebody else and Ubisoft stepped in and astutely bought up those assets for not very much money. I think they're going to get big checks from Microsoft, growing every year for the next several years." For more expert insight and the latest market action, click here to watch this full episode. This post was written by Nicholas Jacobino
Reuters Videos
Huawei revamps stores to do battle with Apple
STORY: Huawei is rethinking its retail strategy to do battle with Apple. The Chinese tech giant is opening or revamping stores as part of a bid to take top spot in the country’s smartphone market. Some of the new outlets, including this one in Shanghai, are directly opposite Apple. The Huawei branches aim to outdo its rival with unusual features, including a gym. Four such stores have opened just since December, and it marks a big change of strategy for the firm, which used to rely on licensed distributors. Counterpoint research partner Neil Shah says it’s a sign the firm is serious about grabbing market share: "I think Huawei has stepped up in terms of where they want to go. And it's very clear with their execution and the choice of design, which they have embraced within the store all different type of portfolios, experiences they're focusing on, rather than just a singular product on a table. But it's more focusing on experience and involving the consumers within the store, right? I think that is a completely novel approach.”Other attractions at the stores include a coffee shop, and a huge living space.It all comes as Apple’s iPhone sales slide in China. They were down 6.6% over the first quarter. Huawei, by contrast, saw its shipments jump 110%, and overtook Apple as the number two smartphone seller in China. Local media have hailed the rebound as a triumph over years of U.S. sanctions on the company. Huawei is also seeking to produce its own chips as part of moves to counter the restrictions.
Reuters
US makers of masks and gloves get lifeline: higher tariffs on Chinese-made products
President Joe Biden’s move to hike tariffs on Chinese goods should help U.S.-based medical mask and glove makers, a sector that has largely flamed out after surging during the COVID-19 pandemic. Industry executives on Tuesday said Biden's tariffs could boost demand by helping level a price differential with cheap imports from China, and could foster investments needed to bring some stalled projects online, although some think the 25% duties need to be even higher. India-based research firm Mordor Intelligence estimates the U.S. personal protective equipment (PPE) market is $14 billion.
Simply Wall St.
3 High-Yield Dividend Stocks On Euronext Amsterdam Offering Up To 6.5%
Amid a backdrop of fluctuating global markets, the Netherlands' Euronext Amsterdam has shown resilience, offering opportunities for investors seeking stable returns through high-yield dividend stocks. In light of current market conditions where cautious optimism prevails due to potential policy shifts in major economies, selecting stocks with robust dividends can be a prudent strategy for those looking to enhance their portfolio's income stream.
Reuters
China's Hailiang, Shinzoom to build auto battery plants in Morocco
Chinese auto battery manufacturers Hailiang and Shinzoom will set up two separate plants in Morocco, as the country seeks to adapt its growing automotive sector to increasing demand for electric vehicles, Moroccan officials said on Tuesday. Authorities in charge of developing the Moroccan northern industrial zone, Tanger Tech, said Hailiang plans to build a copper plant worth $450 million on an area of 30 hectares. Shinzoom, part of Hunan Zhongke, will invest $460 million in an anodes plant spanning over 20 hectares, they said in a statement.
TechCrunch
Uber to acquire Foodpanda's Taiwan unit from Delivery Hero for $950M in cash
Uber Technologies announced Tuesday that it will buy the Taiwan unit of Delivery Hero's Foodpanda for $950 million in cash. The deal is part of Uber Eats' strategy to expand in Asia, specifically by strengthening its position in Taiwan. On the other hand, it also underscores Delivery Hero's ongoing retreat from that same market: The sale is coming at the same time that Delivery Hero has been trying to sell off a package of its other operations across Southeast Asia.
Simply Wall St.
Discover Three Hong Kong Dividend Stocks With Yields Up To 6.5%
Amidst a backdrop of global economic fluctuations, the Hong Kong market has shown resilience, with the Hang Seng Index recently marking a notable increase. This positive momentum in Hong Kong makes it an opportune time to explore dividend stocks, which can offer investors potential steady income streams and financial stability in uncertain times.
The Guardian
Vauxhall owner to sell cheap Chinese EVs in UK and mainland Europe
Stellantis deal with Leapmotor aims to cash in on imports as Biden imposes 100% tariff in US

Straits Times Index

S&P 500

Dow

Nasdaq

Bitcoin USD

CMC Crypto 200

FTSE 100

Gold

Crude Oil

10-Yr Bond

Nikkei

Hang Seng

FTSE Bursa Malaysia

Jakarta Composite Index

PSE Index

UPDATE 1-Kimmeridge ready to negotiate proposed offer for SilverBow after latest rebuff

Latest stories

Joe Biden has found a new way for electric cars to kill the economy

Malaysia's Johor eyes Shenzhen-style hub with Singapore, report says

3 High Yield Dividend Stocks On SGX With Returns Up To 6.3%

CORRECTED-UPDATE 2-TSMC says can make next generation chips without ASML's new machine

Blackstone-led consortium eyes snacks business of India's Haldiram's, sources say

Tesla to rehire some of its laid off Supercharger team: BBG

Morocco’s automotive industry shifts gears to prep for electric vehicle era

Golden-Agri Resources reports 1QFY2024 earnings of US$37 mil, down 60% y-o-y

Argentina raises domestic bioethanol prices, lowers biodiesel

Boeing, Airbus need to do more to reduce new jet delays, Qatar Airways CEO says

Biden’s EV Tariff Is All for Show. Tesla, GM, and Ford Already Have Protection.

Oil settles lower as inflation data gives way to market jitters

Gaming industry: How to level up your investments

Huawei revamps stores to do battle with Apple

US makers of masks and gloves get lifeline: higher tariffs on Chinese-made products

3 High-Yield Dividend Stocks On Euronext Amsterdam Offering Up To 6.5%

China's Hailiang, Shinzoom to build auto battery plants in Morocco

Uber to acquire Foodpanda's Taiwan unit from Delivery Hero for $950M in cash

Discover Three Hong Kong Dividend Stocks With Yields Up To 6.5%

Vauxhall owner to sell cheap Chinese EVs in UK and mainland Europe