Intense trading in Asian AI companies is helping Wall Street investment banks reach record highs, with Asia set to overtake Europe as the second-largest source of revenue after the US, the FT reports.
BusinessSwedes' travel budgets are shrinking due to this year's weakening of the krona. That's partly because of an unexpectedly resilient US economy, but also the AI sector's huge price gains on Wall Street, according to SEB economist Robert Bergqvist. Put some of the blame on Elon Musk, Bergqvist says.
BusinessPositive signals about a possible end to the war in Iran are driving up early trading in Asia.
BusinessTrading was cautious and index movements were small on the US stock market ahead of Wednesday's interest rate announcement from the Federal Reserve.
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