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Bloomberg
11 minutes ago
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Trump Tariff Shock Poised to Deepen Rupee's Underperformance
India's rupee is poised to remain one of Asia's worst performers in the second half of the year, with US tariffs adding pressure to an already fragile economic recovery, analysts say. Analysts at Deutsche Bank AG and Barclays Plc expect the currency to drop to new record lows by the year-end amid muted foreign inflows and headwinds from US tariffs. Meanwhile, the Chinese yuan, Indonesian rupiah, Malaysian ringgit and Philippine peso are projected to gain, according to estimates compiled by Bloomberg.
Yahoo
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Billionaire Ong to Plead Guilty in Singapore Political Gift Scandal
(Bloomberg) -- A billionaire best known for bringing Formula One night racing to Singapore is set to plead guilty in relation to a scandal to supply one of the city-state's most senior politicians with luxury gifts. We Should All Be Biking Along the Beach Seeking Relief From Heat and Smog, Cities Follow the Wind Chicago Curbs Hiring, Travel to Tackle $1 Billion Budget Hole NYC Mayor Adams Gives Bally's Bronx Casino Plan a Second Chance On Monday, 79-year-old Ong Beng Seng will enter his plea after facing two charges related to offering S. Iswaran in 2022 a trip on his private jet to Doha, a stay at the Four Seasons there, a return business class ticket worth S$5,700 ($4,422.3) and subsequently abetting the politician to obstruct the course of justice. The former transport minister was then the chairman of a steering committee for the F1 night race. Ong could be sentenced by a Singapore court as soon as Monday or at a later date. He faces up to several years in jail, including a possible fine, if he pleads guilty to both charges. Singapore's worst graft scandal in decades has gripped the city-state, which has sought to build a global reputation for zero-tolerance for corruption. How the Malaysia-born tycoon is sentenced will also weigh on his control of a business empire that extends from the Southeast Asian financial hub to a luxury development in central London and resorts in the Maldives. Ong has a net worth of $1.5 billion, according to the Bloomberg Billionaires Index. In 2024, Iswaran was sentenced to one year in jail for obtaining gifts from Ong, which also included items like a Brompton bicycle and race tickets. How Podcast-Obsessed Tech Investors Made a New Media Industry Russia Builds a New Web Around Kremlin's Handpicked Super App Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off What's Really Behind Those Rosy GDP Numbers? Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts ©2025 Bloomberg L.P.
Bloomberg
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Amphenol Nears Deal to Buy CommScope's Broadband Unit, WSJ Says
Amphenol Corp. is nearing an acquisition of CommScope Holding 's broadband connectivity arm in a deal valued at roughly $10.5 billion including debt, the Wall Street Journal reported on Sunday, citing people with knowledge of the matter. CommScope was exploring a sale of the business — known as CCS — as part of efforts to repay debt, Bloomberg reported in May.
