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Wall Street's 'fear gauge' punches back as the 'crash up' in chip stocks finally reverses

The monster rally in semiconductor stocks hit a wall on Friday, and the VIX at last caught up with other volatility metrics.

Rupee rises 50 paise to 95.24 against US dollar post RBI policy decision

The rupee appreciated 50 paise to 95.24 against the US dollar on Friday after the RBI liberalised norms for FPI investment in government securities. Forex traders said the announcements in the RBI policy boosted investor sentiments after the apex bank asserted that the country's forex reserves provide sufficient buffer against external shocks. At the interbank foreign exchange market, the rupee opened at 95.72, then touched 95.24 in intraday trade, registering a rise of 50 paise from its previous close. On Thursday, the rupee rose 2 paise to settle at 95.74 against the US dollar. The Reserve Bank on Friday expectedly kept interest rates unchanged for the second time in a row as it weighed the impact of rising energy prices and supply disruptions caused by the West Asia crisis. Announcing the second bi-monthly monetary policy for the current fiscal, RBI Governor Sanjay Malhotra said the Monetary Policy Committee (MPC) has unanimously decided to retain short-term lending rate or repo rate at 5.25 per cent with a neutral stance. Moreover, the RBI raised limit for investments by Non-Resident Indians, Overseas Citizens of India in equity instruments. Malhotra also said that the central bank's policy on exchange rate remains unchanged and it does not target any specific rate/band for the rupee. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 99.40, higher by 0.01 per cent. Brent crude, the global oil benchmark, was trading up 0.36 per cent at USD 95.37 per barrel in futures trade. On the domestic equity market front, Sensex fell 142.06 points or 0.19 per cent to 74,217.95, while the Nifty was down 38.75 points or 0.17 per cent at 23,377.80. Foreign institutional investors offloaded equities worth Rs 4,447.06 crore on a net basis on Thursday, according to exchange data. Meanwhile, RBI has lowered GDP growth projection to 6.6 per cent from 6.9 per cent earlier for the current fiscal and raised CPI inflation projection to 5.1 per cent for FY27, higher from earlier estimate of 4.6 per cent. PTI

Anthropic and University of Tokyo partner to gauge generative AI use

Despite govt intervention, Karachi University teachers refuse to end exam boycott

Protesting employees participate in a meeting at the University of Karachi.—Dawn KARACHI: Despite intervention by the provincial authorities, strong opposition from teachers to signing any agreement that does not include a firm commitment to immediate financial relief compelled the Karachi University Teachers’ Society (Kuts) to continue its protest, including the boycott of semester examinations on the campus. The unanimous decision was taken at the Kuts general body meeting held on Tuesday. Sources said the meeting was held against the backdrop of a recently released notification from the Sindh Higher Education Commission (SHEC), following a meeting of the education commission’s head with the representatives of Kuts, Officers Welfare Association (OWA) and Employees Welfare Association (EWA) on June 1. The notification said that a six-member committee, led by the chairperson of the SHEC and comprising the secretary of the universities and boards department, secretary of SHEC, president Kuts, presidents EWA and OWA, had been set up to look into the issues being faced by KU employees. SHEC forms six-member body to look into issues being faced by varsity employees The notification also said that the representatives of Kuts, EWA and OWA had decided “that the ongoing boycott of exams shall be withdrawn with immediate effect. The university administration shall make necessary arrangements for rescheduling the affected examinations and notify the revised examination schedule accordingly.” The committees’ terms of reference included the responsibilities to examine the issues and grievances of the teaching and non-teaching staff, review the relevant rules, policies, financial implications and administrative matters pertaining to the issues under consideration and hold consultations with all stakeholders. “The committee will finalise its recommendations within 40 days,” the notification said. However, at the Kuts general body meeting, the majority of the teachers rejected the notification and questioned the SHEC’s leadership on the matter. Explaining Kuts’ position in the June 1 meeting and the notification, its president Dr Syed Ghufran Alam said that while they appreciated the steps taken by the SHEC and that the employees were always available for further dialogue, the decision for a boycott was made by the general body and that’s the only relevant forum to call it off. “During the meeting, we did express optimism that the general body might consider the proposal. The general body, however, didn’t approve it due to the (negative) environment created by the KU administration,” he said, adding that teachers were unwilling to show any flexibility unless their dues were paid. Sources also said that the employees’ frustration and resentment against the KU vice chancellor could be gauged from the fact that they didn’t agree with the SHEC’s proposal to let the KU vice chancellor participate in the June 1 meeting. It might be recalled that the KU teachers have been boycotting the semester exams since May 5 over non-payment of their dues for evening classes, copy checking, exam supervision, paper setting, exam vigilance, house ceiling and leave encashment among other things. Now joined by the non-teaching staff, they have called for an investigation into the financial crisis at the campus and refused to end the strike until the fulfilment of their demands. Published in Dawn, June 3rd, 2026

South Koreans vote in local elections seen as gauge of President Lee's first year

Voters will choose mayors and governors in 16 cities and provinces in a contest widely seen as an assessment of President Lee Jae Myung's first year in office.

India gets a new inflation gauge as PPI set to debut

Chinese humanoids are one step closer to IPOs

China is pitching itself as the global fulcrum for the next phase of artificial intelligence and a legion of robotics companies is lining up initial public offerings to test investor appetite.Unitree Robotics, one of the most recognizable names in the industry after its robots practicing martial arts made headlines, on Monday received approval for a listing in Shanghai. Its IPO will serve as an early test for what could be a broader wave of offerings. Hong Kong alone has at least 46 robotics-related companies in the pipeline, more than 10% of applicants, according to a report. Companies that have filed IPO applications include Leju Robotics and Deep Robotics. “Chinese humanoids are one step closer to IPOs, igniting market interest on humanoids in the second half of 2026,” Sheng Zhong, head of China industrials research at Morgan Stanley, wrote in a note. “Funds from most of the Chinese humanoids’ IPOs will go toward R&D, especially robot models.” The deep pipeline of robotics IPOs mirrors the fast rise of China’s AI ecosystem, where an array of listings whipped up an investor frenzy in the past six months. It also aligns with Beijing’s push to shift high-tech industries from innovation to large-scale deployment. China is rushing to set the pace of funding, industrialization and ultimately leadership in what Nvidia Corp. CEO Jensen Huang calls “physical AI.” Shares of OneRobotics (Shenzhen) Co. jumped as much as 18% in Hong Kong on Tuesday, while component maker Leader Harmonious Drive Systems Co. gained as much as 11% on the mainland. 131456136“This is the decade of the robot – and it belongs to China,” Barclays analysts, including Zornitsa Todorova, wrote in a note last month. “This leadership reflects a decade-long, state-guided push.”The firm says China’s robotics roll-out is already unmatched, accounting for 50% of global industrial robots and 85% of humanoids in 2025. Backed by coordinated industrial policy and tight supply-chain control, humanoids could reach about 3.8% of the nation’s labor capacity by 2035, it estimates. Unitree got a nice shoutout from Nvidia’s Huang on Monday, when he showcased his company’s endeavors in robotic AI. The two companies have partnered to build humanoid “reference” machines, featuring five-fingered hands and built-in chips to replace cumbersome “Frankenrobots” in research labs.Some investors remain more cautious, though, when looking at the companies’ fundamentals. Many robotics firms are expected to burn cash for years and concerns are mounting that valuations could run ahead of earnings.A gauge of humanoid robot stocks has fallen about 13% this year, after registering a 47% gain in 2025. ChinaAMC CSI Robot ETF, a major exchange-traded fund tracking robot-related stocks, has seen net fund outflows for most of this year. Valuations were also elevated, with the sector trading at about 40 times forward earnings, compared with about 14 times for the CSI 300 Index, according to Bloomberg-compiled data.“Investors trading at such elevated valuations are typically not driven by long-term fundamentals, but rather by the pursuit of short-term price gains,” said Shen Meng, a director at Beijing-based investment bank Chanson & Co. “It indicates that sentiment is driven more by market dynamics than by conviction or long-term vision.”The state-run China Securities Journal also struck a cautious tone in an editorial published Tuesday, warning that pre-IPO valuations may outpace fundamentals, with many firms still unprofitable, raising the risk of a sharp correction if growth or commercialization disappoints. Still, prospective issuers can look at the performance of China tech IPOs this year, with many listings thousands of times oversubscribed and producing big gains on their debuts. Two of those companies, AI model developers Knowledge Atlas Technology Joint Stock Co. and MiniMax Group Inc. last month gained inclusion in the Hang Seng Tech Index after massive rallies since their January listings. For investors, the robotics companies can also offer a way to benefit from the rapid expansion of a cutting edge industry, said Zhou Nan, founder and investment director of Shenzhen Long Hui Fund Management Co.“With continued advances in AI, the robotics sector is poised for substantial long-term growth,” Zhou said. “Robotics is expected to become a key driver of enterprise value, and progressively complement or replace human labor across a wide range of use cases.”

Consumer prices up 3.1% in May on soaring fuel prices

South Korea's consumer prices rose more than 3 percent in May from a year earlier amid global energy price volatility following the Middle East war, data showed Tuesday. Consumer prices, a key gauge of inflation, increased 3.1 percent last month from a year earlier, according to data from the Ministry of Data and Statistics. It marked the fastest growth in 26 months after rising at the same pace in March 2024. Prices of industrial products rose 4.2 percent, driven largely by higher fuel prices.

U.S. Manufacturing Gauge Rises To Highest Level in Four Years

New orders and output measures rose sharply in May. The post U.S. Manufacturing Gauge Rises To Highest Level in Four Years appeared first on Breitbart.

A SpaceX-Tesla union would mark the largest merger of all time. But does the math work?

A new Fortune analysis gauges what a merger would mean financially.

Uganda: AfDB Pledges to Fund SGR, Allocates Initials Shs2.4 Trillion

[Independent (Kampala)] Kampala, Uganda -- The Vice President of the African Development Bank Dr. Abdul Kamara has reaffirmed the commitment by the bank to fund the Standard Gauge Railway project in Uganda.

Congo’s Ebola footprint widens as officials race to gauge epidemic’s true scale

One of the most complex Ebola outbreaks in years is unfolding across areas impacted by armed conflict, mass displacement and weak health infrastructure.

Inflation squeezing Safed Posh the most in Pakistan

KARACHI: Saima works as a maid in a posh locality in Karachi. She lives in Hijrat Colony. “I used to buy a 1kg gas cylinder for Rs280, now it costs Rs450,” she laments. All her essential expenses have surged. The gallon of salty water she uses for cleaning has gone from Rs20 to Rs70, while a gallon of drinking water now costs Rs120 instead of Rs50. “They tell me it’s because of higher petrol prices increasing transport costs, but petrol prices have not increased by the same proportion as daily essentials,” she says, puzzled. Even small treats are now unaffordable. “I used to buy two Rs20 chip packets for each child, but now one packet is Rs50. I can only afford one, so each child gets fewer chips,” she says. For Pakistan’s lowest-income households, record fuel prices have translated into an inflationary shock. Yet while the poorest households are under immense strain, Pakistan’s deep culture of philanthropy and informal support still offers some cushion in urban centres. Earning too much to qualify for assistance, but too little to survive surging prices, white-collar families are slipping through the cracks of a historic cost-of-living crisis Roughly 73 per cent of Pakistanis donated money for various social causes in 2024, according to the Pakistan Centre for Philanthropy’s (PCP) Giving in Pakistan report 2025. The greater blind spot may instead be the country’s increasingly squeezed Safed Posh, the salaried middle-class. A philanthropy cushion Pakistan receives roughly $40 billion in remittances annually. Accounting for zakat alone, nearly $1bn may circulate informally among lower-income households, said Syed Hasan Ali, country director of the i-Care Foundation. Faisal Edhi, chairman of the Edhi Foundation, noted the lowest-income group sits idle for 15 to 18 hours without water, gas or electricity. Yet despite Ramazan donations dropping 20pc, the organisation’s services continue without serious strain. The Layton Rahmatulla Benevolent Trust, which treats around three million patients annually through 63 clinics, reports similar donor resilience. However, only one in three patients is willing to travel to the trust’s hospitals for procedures. “The main reason is that they cannot afford the fare,” said Najmus Saquib Hameed, the trust’s honorary chairman. When transport support is provided, nearly 80pc are willing to travel. While well-organised charities remain resilient through diaspora support, smaller charities have been hit harder by rising operational costs, explains Dr Nosheen Mahmood, PCP’s manager research. The invisible Safed Posh Philanthropy cushions some of the macroeconomic blow for the poorest households. However, the lower-middle and salaried families often fall into a support vacuum as they earn too much to qualify for sadqa or zakat but too little to absorb sustained inflation. Aquil Halai, a trustee of the Ahsaas Trust, worries most about this demographic. His organisation supports families of single women with children under 18. “Usually, people in metro cities help out household staff,” Halai said. “But families with a single breadwinner earning Rs150,000 to Rs200,000 are struggling the most. When you account for school fees, utility bills, rent and transport, they reach a point where they have to choose between groceries or school fees.” As a textile entrepreneur, Halai noted retail customers who previously bought an average of four apparel pieces per invoice are now buying just 2.7. Furthermore, seven to eight employees at his factory recently borrowed money for household expenses for the first time. Majyd Aziz, president of the Employers Federation of Pakistan, pointed to a similar trend, saying requests for salary advances among white-collar employees have risen sharply, particularly among those ineligible for charitable support. Meanwhile, annual pre-budget surveys, conducted since 2020 to gauge the financial condition of its urban, salaried readership, indicate wage protections have not kept pace with inflation. Survey results A recent Dawn survey of 300 respondents found 55.6pc could not raise pay concerns without fear of losing their jobs. Only one in ten respondents said salary increments were explicitly linked to inflation and 15.5pc received no annual increment whatsoever. At the same time, household costs have fundamentally shifted. In 2020, about 15pc of respondents spent more than Rs30,000 monthly on electricity, gas and water. By 2025, that figure rose past 40pc. For middle-income households, utilities consume a quarter to a third of take-home pay. Food expenditure shows a similar pattern. In 2020, typical respondents spent Rs20,000 to Rs30,000 monthly on groceries. By 2025, more than half reported spending above Rs50,000. Even transport-related employment benefits appear increasingly rare. Just two out of 284 Dawn survey respondents reported receiving fuel or car allowances. Mobility company BusCaro estimates app-based rickshaw, car and bike ride fares have risen by roughly 40pc since late February. Fuel inflation is affecting socioeconomic groups across the spectrum. For the poorest, philanthropy still provides relief, but for Pakistan’s salaried middle class, the margins are rapidly disappearing. Published in Dawn, June 1st, 2026

The end of Waltair: How Visakhapatnam got its own railway division

The railway network in this region dates to 1893, when broad-gauge operations began as part of the East Coast Railways

Russia Signs Military Cooperation Deal With Afghanistan’s Taliban Government

Russia and Afghanistan’s Taliban government have signed a military agreement, in a move that signals deepening cooperation between the sides, experts said. The deal was signed on May 27 by Sergei Shoigu, secretary of Russia’s Security Council, and the Taliban’s defense minister, Mohammad Yaqub, on the sidelines of a security forum outside of Moscow, Russian media reported. Neither side has released the text of the military cooperation agreement or offered details about its scope, making it difficult to gauge whether the deal represents…

MSCI index rejig, US-Iran deal worries spook Dalal Street

Mumbai: India's equity indices fell 1.5% on Friday, posting losses for the month, as outflows on account of MSCI index rebalancing triggered a late decline during the trading session. The extension of the tentative ceasefire deal by 60 days eased oil prices but did little to improve sentiment in equities, with Donald Trump yet to sign off on it.The NSE Nifty closed at 23,547.75, down 1.5%, or 359.40 points, while the BSE Sensex ended at 74,775.74, down 1.4% or 1,092.06 points. For May, the Nifty and Sensex slipped 1.9% and 2.8% lower, respectively.Both indices were on track to post modest gains on Friday but selling in the last 30 minutes sent shares tumbling."The MSCI rebalancing led to outflows worth ₹8,000-8,500 crore, which were slightly higher than previous instances, but that was due to float adjustments in certain names like Bajaj Finance, HUL, TCS, and many others," said Abhilash Pagaria, head of alternative and quantitative research, Nuvama Wealth. "This is a one-time new methodology adjustment that weighed on the market on Friday."When global index providers like MSCI add or remove stocks in their indices, passive funds tracking these are forced to buy or sell them in line with the new weights.131402604Fear Gauge Jumps On Friday, Federal Bank, MCX, Nalco and Indian Bank were added to the MSCI Standard Index, while Hyundai Motor India, Jubilant FoodWorks, Kalyan Jewellers and RVNL were excluded.According to Nuvama Alternates, India's weight in the MSCI Standard Index is expected to remain broadly stable at around 12%, with the overall stock count unchanged as four got added and four were excluded.All sectoral indices ended lower on Friday with the IT index bucking the weak trend. Nifty Oil & gas dropped 2.5% while Nifty Metal and Auto indices fell around 2%. Nifty Consumer Durables and FMCG indices declined close to 1.5% while Bank Nifty slid 1.1% lower.Even before the sell-off linked to the MSCI index rejig, gains were measured in response to the provisional deal between the US and Iran."The deal for extension of ceasefire between the US and Iran is not yet signed and it doesn't seem that either of them is in a hurry to sign the deal either," said UR Bhat, cofounder and director, Alphaniti. "The nuclear material in Iran remains a point of contention and investors don't expect a concrete agreement immediately. If the stalemate continues and oil prices shoot up, then the market could see declines. However, if it is signed, then some respite is likely."Brent crude oil futures eased about 2% to nearly $90 on Friday after rising 0.5% on Thursday.The India VIX volatility index jumped 8% to 16.2 on Friday, suggesting traders are not convinced that risks have subsided. The measure was, however, down 9% in the week. "Nifty is stuck in a downward sloping range of around 24,000 levels on the higher side and 23,250-23,000 on the lower side," said Vipin Kumar, AVP, Globe Capital Market. "These levels are unlikely to be broken in the coming week."Foreign portfolio investors sold shares worth a net Rs 21,105.9 crore on Friday, while domestic institutional investors bought shares worth Rs 16,764.1 crore. In May, foreign investors sold shares worth Rs 49,192 crore."Overseas investors could continue to churn large-cap holdings. However, the broader market remains resilient and poised for outperformance," said Pagaria.Out of 4,463 shares traded on the BSE, 1,611 advanced, and 2,673 declined. The Nifty Midcap 150 index declined 1.4%, while the Nifty Smallcap 250 ended 0.7% lower. In the past week, the two gained 1% and 1.2%, respectively.

Kerala’s Pariyathukavu residents hope government intervention will put an end to eviction threat

Pariyathukavu, a settlement in Ernakulam district, occupied by seven Dalit families for decades, has become the epicentre of a socio-political controversy with attempts to evict the residents, who have been engaged in a prolonged legal battle to protect their homes. G. Ragesh visits the area to gauge the gravity of the situation as both the residents and the claimants of the land await anxiously for finality

Chicago PMI Sees Historic Surge, New Orders Highest Since 2022

A closely watched gauge of Midwest business activity posted one of its largest monthly gains on record, suggesting that U.S. economic growth accelerated this spring. The post Chicago PMI Sees Historic Surge, New Orders Highest Since 2022 appeared first on Breitbart.

‘I can gauge John’s reaction: that’s good, stick that in’: Paul McCartney on how old bandmates – and Oasis – inspired his nostalgic new album

At 83, McCartney is looking back for his 18th solo LP, to formative flirtations, family singalongs, even his own birth – and the febrile times that mirror our own. It’s given him ‘every hope that we’ll get through’ • Alexis Petridis reviews The Boys of Dungeon Lane: ‘At 83, his gift for melody still astounds’ ‘How far do you want to go back?” In his office overlooking Soho Square in London, Paul McCartney and I sit together on a small sofa, reminiscing. The room smells deep and resinous and faintly ecclesiastical. There is a large green glass candle on the windowsill, and beyond, a view of plane trees, a flood of early afternoon sunlight. The building was bought by McCartney in 1974, and has long served as a home for his publishing company and other enterprises. On another floor, two members of his team survey prints of his late wife Linda’s photographs, spread out on the boardroom table. An assistant is busy arranging a bagel order, while in the small lift, someone is ferrying a trolley full of drinking glasses up to the kitchen, a convivial clink-clatter echoing through the floors. Continue reading...

Key inflation gauge worsens as Americans' income and spending power erodes

A key inflation gauge accelerated in April to the highest level in three years, squeezing Americans' finances and creating political challenges for President Trump and congressional Republicans with midterm elections just five months away.