WORLD
BYD revenue eclipses Tesla for first time as EV giants go head to head
BYD's revenue soared 24% year-on-year to 201.1 billion yuan ($28.2 billion) for the three months ending Sept. 30, falling short of estimates, but exceeding Tesla whose sales hit $25.2 billion in the same period
BUSINESS
Sunil Mittal’s Bharti Telecom plans its biggest Rupee bond sale
The company may seek bids for the notes due in three to 10 years next week, with the longer end bonds likely offering a coupon of 9%, they said, asking not to be named as the information is not public.
BUSINESS
Axis Bank says AI won’t mean job losses as it adds frontliners
Many operations jobs will get automated and the bank’s employee mix will flip in the next five years in favour of technology and customer-facing roles, Axis Bank executive said.
COMPANIES
Gautam Adani vies for projects in Bhutan’s ‘Mindfulness City’ in overseas push
Bhutan has been a strategic and long-time ally for India, which is keen to curb China’s influence in its neighborhood
WORLD
Israel eyes deal to end Lebanon combat after weakening Hezbollah
Prime Minister Benjamin Netanyahu met top aides late on Tuesday to discuss a US-shepherded cease-fire proposal, his spokesperson said
MARKETS
Japan boosts Asian stocks, gold hits record
The Topix Index rose about 1%, boosted by the tech sector on the back of a record close for the Nasdaq Composite overnight. Shares in mainland China, Hong Kong and Australia fell
BUSINESS
OpenAI, Broadcom Working to Develop AI Inference Chip
OpenAI has been planning a custom chip and working on such uses for the technology for around a year, the people said, but the discussions are still at an early stage.
WORLD
Trump Media rallies as polls show election in dead heat
-Trump Media & Technology Group Corp. rose 8.8 percent Tuesday, pushing its five-week rally to 324 percent. That’s ballooned Trump’s paper gain in the company to nearly $6 billion
BUSINESS
Samsung’s sudden $122 billion wipeout shows the cost of sleeping on AI
Samsung shares have tumbled 32% from this year’s peak on July 9. The company has lost $122 billion of market value in that span, more than any other chipmaker worldwide.
BUSINESS
Alphabet’s pricey AI bet pays off with growth in Cloud, Search
Google is drawing more cloud customers using its AI expertise to gain ground on larger rivals Amazon and Microsoft, making inroads by signing on fast-growing AI startups.
BUSINESS
Adidas and Ye settle all claims two years after stormy split
The Yeezy line accounted for about half of Adidas’s total profits before the split
WORLD
McDonald’s sales hit by weakness in international markets
McDonald’s has been working to reverse traffic declines in all its geographic segments, driven by consumers’ reticence to spend, high levels of inflation and boycotts against American brands in the Middle East
BUSINESS
Hims Says Weight-Loss Shot ‘Just as Safe’ as Ozempic and Wegovy
Hims is pushing back on the idea that compounded injections aren’t as safe or beneficial as the brand-name drugs sold by Novo and Eli Lilly & Co., even as those companies turn to the courts and the public with allegations of potential harm.
WORLD
Kamala Harris’ tech embrace halts Trump tide and fills war chest
The latest data from the Federal Election Commission show that Harris’ efforts to re-engage with the tech industry have paid off — literally — by encouraging new donations and stemming Silicon Valley’s pro-Trump shift.
WORLD
Traders hunt profit playing warped election betting markets
Prediction markets have enjoyed heightened visibility in the run-up to the election, particularly after reports emerged that a trader had spent $45 million wagering on Trump on Polymarket.
WORLD
Adidas comeback gains ground with widespread rise in sales
Earlier this month, Adidas raised its annual profit target for the third time, amid surging demand for its retro kicks
BUSINESS
State Bank of India chairman targets unbanked in expansion plans
India’s largest bank has made significant investments in digitalization and technology over the past few years, helping it amass new customers at a “much lower cost,” Challa Sreenivasulu Setty said.
BUSINESS
Apple ships $6 billion worth of iPhones from India in big China shift
Apple is expanding its manufacturing network in India at a rapid clip, taking advantage of local subsidies, a skilled workforce and advances in the country’s technological capabilities.
BUSINESS
Tycoon who began with Rs 5,000 is now worth $5 billion after IPO
With the listing of the group’s solar cell manufacturing arm Waaree Energies on Monday in Mumbai, Doshi and his family have joined the ranks of the world’s richest people.
BUSINESS
Small-caps run the risk of extended selloff as earnings slow
Key gauges of small- and mid-sized companies have tumbled since hitting September highs, putting them close to a so-called technical correction of a 10% peak-to-trough decline.
US-PRESIDENTIAL-ELECTIONS
Asian shares fluctuate with focus on US election
Shares edged higher in Tokyo and Sydney while futures pointed to gains in Hong Kong
BUSINESS
Crisis-hit Volkswagen mulls closing at least three German plants
The plan laid out by management, which affects the namesake VW brand, also includes a 10-percent pay cut for all staff, the company's powerful works council said in an update to staff.
BUSINESS
Top Gulf grocer Lulu seeks up to $1.43 billion in Abu Dhabi IPO
The hypermarket chain operator has set a price range of 1.94 dirhams to 2.04 dirhams per share, according to a statement on Monday. The top end of the price range implies a market capitalization of 21.1 billion dirhams.
BUSINESS
Arohan Financial Services to delay $200 million IPO amid RBI lending crackdown
Arohan’s investors include Teachers Insurance and Annuity Association of America and Danish asset manager Maj Invest.
