Gold Price Drops as Strong Dollar and Fed Rate Outlook Weigh on Bullion 
Cuba Power Grid Collapse Triggers Nationwide Blackout Amid Deepening Energy Crisis 
Meta Cloud Ambitions Could Challenge AWS, Azure, and Google Cloud, Says Morgan Stanley 
Kioxia Bets on AI Memory Boom With Next-Gen NAND Production in Japan 
easyJet Agrees in Principle to £5.23 Billion Castlelake Takeover Offer 
New Zealand Consumer Confidence Rises in June as Inflation Expectations Ease 
Gold Price Surges Above $4,120 as Weak US Jobs Data Lowers Fed Rate Hike Expectations 
Chinese Copper Foil Maker Londian Files U.S. IPO as EV Battery Demand Grows 
Bank of America Upgrades T-Mobile to Buy, Says LEO Satellite Fears Are Overdone 
TetherMax Rebranding Highlights Official Exchange Partnerships as Foundation of Trust 
China 618 Smartphone Sales Drop 13% as Higher Prices Hurt Demand, Huawei Gains Market Share 
Russia Stocks End Flat at Three-Year Low as MOEX Index Stalls, Gold Prices Climb 
WiseTech Global Shares Surge as Richard White Steps Down as Executive Chair 
Moody’s Says Peru’s President-Elect Keiko Fujimori Could Boost Investor Confidence 
LG Energy Solution Q2 Profit Plunges 77% Despite Revenue Growth on Weak EV Demand 
Fiserv Explores Sale of STAR Payments Network as Major U.S. Banks Show Interest 
The Financial Services Commission (FSC) will double interest rates to 3 to 4 percent for the planned second wave of emergency loan program worth 10 trillion won.
The loan is intended to support small businesses hampered by the novel coronavirus outbreak.
The increased interest rate is meant to discourage improper use of the loans.
According to an official, the low-interest rate in the previous loan program triggered excessive demand as it tempted some business operators to allocate funding for non-business purposes.
Six commercial banks, namely Shinhan Bank, KB Kookmin Bank, Woori Bank, Hana Bank, Industrial Bank of Korea, and NH Bank, were tasked to extend the loans.
Business owners who have already availed of emergency funds in March are not qualified to apply.
Loan approvals will take place on May 25, according to the FSC, South Korea's top financial watchdog.
The second round of loans was necessary as the previous loan program ran out of funding due to soaring demand.
The previous program only allowed business operators with high credit grades between 1 and 3 to avail of funding.
