MARKETS
Asia stocks in tight range with eyes on China data
MSCI’s Asian benchmark was little changed as shares crept higher in Japan and Taiwan and were little changed in China
BUSINESS
UK-India business boosted by prospect of trade deal, HSBC says
While a deal is still far from nailed on, Prime Minister Keir Starmer — who ousted Rishi Sunak’s Conservatives in July — will welcome the rise in Indian interest in the UK indicated by HSBC’s figures.
BUSINESS
UBS’ Bhanu Baweja views China as underrated risk for India's stock rally
Investors are overlooking the danger of disinflationary winds from China, if the country’s exports are hit by President-elect Donald Trump’s trade policies, Baweja said in an interview.
BUSINESS
Carlyle Group said to mull $1 billion India IPO for Quest Global
The US investment firm has held early talks with advisers about a possible share sale in Mumbai that may take place as soon as next year, the people said, asking not to be identified because the information isn’t public.
BUSINESS
China vows bigger fiscal spending to boost consumption next year
Top officials led by President Xi Jinping vowed to raise the fiscal deficit target next year in an announcement made following a two-day huddle of the Central Economic Work Conference in Beijing.
BUSINESS
Xiaomi’s 103% rally puts EV dark horse on the brink of new record high
Investors are hoping to see a similar trajectory to when Xiaomi launched its first smartphone in 2011 and grew within a few years to rival Apple Inc. and Samsung Electronics Co., making its founder Lei Jun a billionaire in the process.
TECHNOLOGY
Google unveils headset with Samsung, taking on Apple and Meta
The first glasses prototypes demonstrated by Google are part of its Project Astra initiative. Android XR glasses can use AI to get chores done, in addition to offering features like turn-by-turn directions for pedestrians
WORLD
US wholesale inflation unexpectedly accelerates on food costs
The string of hotter numbers follows a rapid moderation earlier in 2024, and has added to uncertainty over the trajectory for prices and interest rates as the incoming Trump administration threatens higher tariffs on imported goods
BUSINESS
Bausch + Lomb confirms it is exploring a potential sale
Bausch + Lomb sells contact lenses, eye drops and other products that generate a steady revenue stream
BUSINESS
Nomura, Morgan Stanley set to roll out currency market services in India
Over the past couple of years, Morgan Stanley and Nomura have been building systems to comply with the Reserve Bank of India’s strict reporting norms, the people said.
BUSINESS
China signals more fiscal stimulus, rate cuts to boost economy
Top officials led by President Xi Jinping also vowed to deliver rate cuts and lower the reserve requirement for banks during a two-day huddle of the Central Economic Work Conference in Beijing, according to China Central Television.
BUSINESS
SBI adds to record samurai loan boom with ¥30 billion debt plan
Borrowers from Asia excluding Japan have signed a record ¥1 trillion in such facilities year-to-date, according to Bloomberg-compiled data
BUSINESS
US-China economy talks resume as Yellen urges maintaining links
Yellen and her Chinese counterparts established two working groups last year after her first visit to the Asian nation since assuming her current role.
BUSINESS
Bitcoin lifted above $100,000 on firming expectations of Fed cut
The digital asset rose nearly 5% on Wednesday in the US, the most in two weeks, before paring some of the gain to change hands at $100,665 as of 8:52 a.m. on Thursday in Singapore. Smaller tokens traded in relatively tight ranges.
BUSINESS
Inflation gives Fed green light for cut in December
Policymakers will release new forecasts and rate projections at the conclusion of their Dec. 17-18 meeting in Washington.
BUSINESS
Startup Rebel Foods raises funds ahead of planned IPO
Rebel Foods was founded by McKinsey alumnus Jaydeep Barman with the goal of building a range of online-only brands. Its operations now include Oven Story, Mandarin Oak and biryani label Behrouz.
WORLD
Donald Trump scheduled to ring NYSE’s opening bell on Thursday
The stock exchange regularly invites celebrities and corporate leaders to participate in the ceremonial opening of trading, particularly to mark anniversaries and initial public offerings.
WORLD
Elon Musk’s net worth tops $400 billion, a historic first
Elon Musk is slated to occupy a key role in the new administration as co-head of the newly created Department of Government Efficiency
WORLD
Suicide blast in Kabul kills highest-profile Taliban target yet
After the withdrawal of US forces in 2021, Khalil Haqqani played a key role in forming the Taliban government and negotiating senior posts
BUSINESS
Hershey’s main owner rejects Mondelez’s offer as too low
Hershey Trust Co., which has roughly 80% of the voting power at the company, turned down the bid as too low, said the people, who declined to be identified
WORLD
US core inflation stays firm with fourth-straight 0.3% increase
Traders continued to bet on a Federal Reserve interest-rate cut next week after the figures came in largely as expected
BUSINESS
OPEC makes deepest cut yet to 2024 world oil demand forecast
OPEC+ has been withholding output since 2022 in a bid to stave off a surplus and shore up prices.
BUSINESS
HSBC’s CEO eyes $3 billion in potential savings from overhaul
HSBC is merging commercial banking into global banking and markets, while also hiving off its Hong Kong and UK businesses into standalone entities, and creating a new premier banking and wealth unit
BUSINESS
ReNew Energy to buy out US-listed shares, top shareholders launch non-binding offer
Abu Dhabi Future Energy Company PJSC-Masdar, Canada Pension Plan Investment Board, Platinum Hawk C 2019 RSC Limited, and ReNew Energy CEO Sumant Sinha are offering $7.07 a share
