Software firm Dassault Systemes Q2 revenue rises but misses estimates
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The Star
21 minutes ago
- The Star
German army prepares to develop deep-strike drones, Handelsblatt reports
BERLIN (Reuters) -The German armed forces are preparing to develop long-range combat drones capable of striking targets deep in enemy territory, the Handelsblatt newspaper reported on Monday. Three consortia are working on concrete concepts after the Luftwaffe airforce sent a request for deep-strike drones to leading defence companies and startups, the report said. According to the report, Airbus Defence is contributing to the project alongside U.S. startup Kratos, while Germany's Rheinmetall has teamed up with drone specialist Anduril. Munich-based startup Helsing is also involved, the report said. The German defence ministry confirmed preparations for such a project to Handelsblatt, saying that initial talks had taken place but that no formal tender had been issued. The ministry and the companies mentioned did not respond to emailed requests for comment from Reuters. (Writing by Friederike Heine, Editing by Rachel More)
The Star
2 hours ago
- The Star
Trump pauses export controls to bolster China trade deal, FT says
Container vessels in Suzhou, China. — AFP The U.S. has paused curbs on tech exports to China to avoid disrupting trade talks with Beijing and support President Donald Trump's efforts to secure a meeting with President Xi Jinping this year, the Financial Times said on Monday. The industry and security bureau of the Commerce Department, which oversees export controls, has been told in recent months to avoid tough moves on China, the newspaper said, citing current and former officials. Reuters could not immediately verify the report. The White House and the department did not respond to Reuters' requests for comment outside business hours. Top U.S. and Chinese economic officials are set to resume talks in Stockholm on Monday to tackle longstanding economic disputes at the centre of a trade war between the world's top two economies. Tech giant Nvidia said this month it would resume sales of its H20 graphics processing units (GPU) to China, reversing an export curb the Trump administration imposed in April to keep advanced AI chips out of Chinese hands over national security concerns. The planned resumption was part of U.S. negotiations on rare earths and magnets, Commerce Secretary Howard Lutnick has said. The paper said 20 security experts and former officials, including former deputy US national security adviser Matt Pottinger, will write on Monday to Lutnick to voice concern, however. "This move represents a strategic misstep that endangers the United States' economic and military edge in artificial intelligence," they write in the letter, it added. - Reuters
New Straits Times
5 hours ago
- New Straits Times
BOJ may paint less gloomy view, signal rate-hike resumption
TOKYO: The Bank of Japan (BOJ) is set to hold off raising interest rates on Thursday, but may offer a less gloomy view on the outlook after Tokyo's trade agreement with the United States last week, signalling rate hikes may resume later this year. Receding global trade tensions following Sunday's agreement between the US and the European Union add relief for BOJ policymakers on the outlook of Japan's export-heavy economy. But the BOJ is likely to warn of lingering uncertainty on how US tariffs affect business activity, with the hit to exports seen intensifying later this year, analysts say. "It's very big progress that reduces uncertainty for Japan's economy – but obviously, some uncertainty remains," BOJ Deputy Governor Shinichi Uchida said last week on the Japan-US trade deal. Uchida noted questions around how soon Washington strikes trade deals with other countries, how the tariffs affect domestic and global economies, and how long it could take for the tariffs' effects to be seen in hard data. At the two-day meeting ending on Thursday, the BOJ is widely expected to keep short-term interest rates steady at 0.5 per cent. Markets are focusing on the bank's quarterly outlook report and Governor Kazuo Ueda's post-meeting news conference for clues on the timing of the next rate hike. A Reuters poll, taken before last week's Japan-US trade deal announcement, showed a majority of economists expect the BOJ to raise rates again by year-end. In the quarterly report, the BOJ is likely to revise up this fiscal year's inflation forecast due to persistent rises in rice and other food costs, sources have told Reuters. The BOJ may also tweak its current view that risks to the price outlook were skewed to the downside, and offer a less gloomy view on the economy compared with the current one focused on tariff-induced risks, according to separate sources. The board is likely to maintain its view that inflation will durably hit its 2.0 per cent target in the latter half of its three-year projection period running through fiscal 2027, they said. In current projections made on May 1, the BOJ projects core consumer inflation to hit 2.2 per cent in fiscal 2025, before slowing to 0.7 per cent in 2026 and 0.9 per cent in 2027. Japan struck a trade deal with President Donald Trump last week that lowers US tariffs for imports of goods including its mainstay automobiles, easing the pain for the export-reliant economy and clearing a key hurdle for further BOJ rate hikes. The positive development contrasts with the gloom that surrounded the economy on May 1, when the BOJ produced its current estimates amid heightened market volatility caused by Trump's April announcement of sweeping "reciprocal" tariffs. The BOJ exited a decade-long, massive stimulus last year and raised its short-term policy rate to 0.5 per cent in January on the view Japan was progressing towards durably achieving its price goal. With rising food costs hurting households and keeping inflation above its 2.0 per cent target for three years, some hawkish board members have highlighted mounting price pressures that could justify resuming rate hikes.
