The Trump administration calculated its raft of new tariffs primarily based on existing trade balances.
But the actual formula used isn’t how the White House initially signaled the calculations would be done. Here's the breakdown: https://bloom.bg/3R0eXlK
📷: Office of the United States Trade Representative
🎙 India’s historic stock market rally has sparked a retail-investing frenzy.
It's also become a breeding ground for financial fraud, scamming victims out of their life savings.
Find out more on the Big Take Asia Podcast: https://link.podtrac.com/jxfy2rhy
President Trump will consider a proposal for divesting TikTok’s US operations from Chinese parent company ByteDance, just days ahead of a deadline for its sale, according to people familiar with the matter. https://bloom.bg/3YeBfUF
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New Zealand is seeing “red hot” interest in its revamped golden visa program from the US and Europe as rising geopolitical tensions prompt wealthy people to consider options abroad. More here: https://bloom.bg/4jbM6qq
📷: Birgit Krippner/Bloomberg
Trump's reciprocal tariffs are set to make history and break a global trading system loathed by MAGA. More here: https://bloom.bg/3FQl6yr
📷: Al Drago/Bloomberg
Some 150 years after the gold rush, miners are back in the New Zealand town of Reefton.
They're betting the gold-laden “reefs” of quartz that give the town its name run deeper than their forebears could reach, and that more valuable minerals can be now extracted with new technology. More here: https://bloom.bg/4l8h192
📷: Nancy Zhou/Bloomberg
Australia’s PM Anthony Albanese has called an election for May 3, kicking off what’s expected to be a closely-fought campaign centered on cost-of-living pressures and a housing crisis in a sluggish economy. More: https://bloom.bg/4jcNiKt
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Air India will woo the 35-million strong Indian diaspora with cheaper fares, as the carrier seeks to make up for its dated cabins amid upgrade delays. More here: https://bloom.bg/3DWYkEz
📷: Dhiraj Singh/Bloomberg
EXCLUSIVE: Malaysia's government is pushing ahead with legislation expanding curbs on media, according to people familiar with the matter. More: https://bloom.bg/4j3cpz3
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For years, Chinese banks have been winning business from Wall Street firms in Hong Kong.
Now they’re starting to pick up some of their former staff — even at lower pay. Read more here: https://bloom.bg/3QQddvk
📷: Lam Yik/Bloomberg
Exposure of private texts between top Trump administration officials offered unique insight into their planning for strikes against Houthi militants earlier this month.
The messages also laid bare the full extent of their disdain for European allies. More here: https://bloom.bg/4hKMzyV
📷: Yuri Gripas/Abaca/Bloomberg
Katsunori Tanaka spent most of his 19 years at Goldman Sachs scrutinizing Japan’s biggest banks as an equity analyst.
Now he’s making money obsessing over much smaller lenders at his hedge fund Ariake Capital. More here: https://bloom.bg/41ZKVni
📷: Shoko Takayasu/Bloomberg
Millions of 23andMe users now face seeing their genetic information sold to the highest bidder as part of the company’s bankruptcy, setting up a test of existing legal safeguards around privacy and safety. More: https://bloom.bg/4c6lfdk
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The Jack Ma-backed tech company Ant has used Chinese-made semiconductors to develop techniques for training AI models that would cut costs by 20%: https://bloom.bg/41UMQJN
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From introducing halal-friendly menus to copies of the Koran in hotel rooms, here's how Hong Kong is targeting wealthy visitors from the Middle East and Southeast Asia: https://bloom.bg/4iSmv5S
📷: Chinesology
Val Kilmer, the brooding, versatile actor who played fan favorite Iceman in “Top Gun,” donned a voluminous cape as Batman in “Batman Forever” and portrayed Jim Morrison in “The Doors,” has died. He was 65. More: https://bloom.bg/42t7DFC
📷: EuropaNewswire/Gado/Archive Photos
Peter Dutton is making his first bid for Australia’s top job in an election on May 3 as the world shifts rightward. The 54-year-old politician is promising to boost the economy, end "woke" cultural initiatives, and take a hard line on immigration. https://bloom.bg/3QZh8WE
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The US government says China became the dominant force in shipbuilding by unfair means and wants American shipyards to start catching up. What’s the plan, and can it work? Read here: https://bloom.bg/4je5J1e
📷: Jaris Ho/Getty Images
Mukesh Ambani is out to prove Indians will pay to watch video on the internet.
Read how India’s largest paid video service JioHotstar crossed a major milestone in a market where media companies have struggled. https://bloom.bg/3FNTNox
📷: NurPhoto/NurPhoto
BREAKING: A strong earthquake of magnitude 7.7 hits Myanmar, shaking parts of Thailand and Vietnam.
Witnesses in Bangkok said the shaking continued for more than a minute, with people fleeing onto the street. Read more: https://bloom.bg/426x3Yl
An unprecedented nine-year stock boom has minted millionaires in India, but has also turned the country into a hotbed of financial scams.
Like the one that swindled Saraswata, an unsuspecting radiologist, out of $700,000. More here: https://bloom.bg/4l61Qgp
📷: Indranil Mukherjee/AFP via Getty Images
EXCLUSIVE: China has told state-owned firms to hold off on any new collaboration with businesses linked to Li Ka-shing and his family, according to people familiar with the matter. More: https://bloom.bg/4c7Qdlg
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Zhang Yiming, the founder of TikTok owner ByteDance, has become China’s wealthiest person for the first time. More here: https://bloom.bg/3FHYwYJ
📷: Gilles Sabrie/Bloomberg
Former European Central Bank President Mario Draghi says Germany’s decision to ramp up defense spending is a “game changer” but warns there are risk. More here: https://bloom.bg/429xMrN
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The Trump administration has paused some green card applications as it seeks to beef up scrutiny of potential permanent residents. More here: https://bloom.bg/42gEs8A
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Blackstone President Jon Gray warns investors against making knee-jerk decisions around President Donald Trump’s tariff drama. More here: https://bloom.bg/4l5lTMf
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🚨 LIVE NOW: How did BYD rise to become Tesla's biggest challenger despite tariffs? And how could its latest technology — a new ultrafast EV charger — help it gain further share?
Join our Live Q&A and ask your questions here: https://bloom.bg/41ZEXCB
JUST IN: Samsung Electronics co-CEO Han Jong-Hee has died at age 63. More here: https://bloom.bg/4j2OkbU
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Donald Trump wants to make US shipbuilding great again by imposing levies on Chinese vessels. Critics say the move could devastate the US economy, hit global trade and fuel inflation. Read more: https://bloom.bg/4bTXCEF
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For big brewers who’ve counted on clubs and karaoke bars to sell premium beers, China's nightlife slowdown is part of a perfect storm that’s also hitting western markets such as the US and Europe.
Increasingly health-conscious customers are drinking less, opting for cheaper options and staying home to save money. All of those factors are prompting a strategy rethink in China: https://bloom.bg/4bPKxMC
📷: Yan Cong/Bloomberg
