Australia Financial

Surendra Rosha, HSBC Asia & Middle East Co-Chief Executive, discusses growth opportunities in India including infrastructure buildout.

Commonwealth Bank of Australia (ASX:CBA) has denied plans to expand its offshore workforce following staff questioning over a new office construction in Bangalore, India.

The Securities and Futures Commission warned investment banks and other intermediaries against arrangements that may artificially inflate demand for initial public offerings. Minmin Low has more on "The Asia Trade."

Praemium (ASX:PPS) reported a 7.4% increase in platform funds under administration to $34.4 billion for the first quarter of FY27.

Bank of America was fined more than $1.21 billion for money laundering and sanctions violations by US regulators. Katherine Doherty has more on "The Asia Trade."

FOS Capital (ASX:FOS) reported first-quarter sales of $7.3 million, representing a 64% increase on the prior corresponding period.

Liberal Senator Dave Sharma has asked ASIC to investigate the failed $43.7 billion Firmus float and related investor disclosures.

Federal Reserve Bank of Boston President Susan Collins says interest rates will likely need to rise more before the end of the year to help rein in inflation during a banking conference hosted by the Boston Fed.

Applied Materials CEO Gary Dickerson says he expects revenue to double over the next few years. He notes that Applied Materials had opened a $5 billion research and development center in Silicon Valley to speed development of next-generation chips. He speaks with Ed Ludlow on "The Close."

Stocks bounced from session lows as speculation the Federal Reserve won't be forced to raise rates aggressively offset lingering worries about elevated oil prices and the outlook for artificial intelligence. Keith Lerner, CIO and chief market strategist at Truist Advisory Services, says the four-year-old bull market has room to run, with AI and technology still central to its prospects. He speaks with hosts Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

Leading AI executives are reportedly preparing for the possibility of a major AI-caused disaster within the next six to 12 months. AI systems have already been linked to multiple cybersecurity incidents, including breaches of outside systems and attacks affecting tens of thousands. Gautam Mukunda, Bloomberg Opinion Columnist & Lecturer at the Yale School of Management, explains why those incidents may be indicative of a much larger problem.

Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Scarlet Fu, Hema Parmar, Carol Massar and Tim Stenovec.