TECHNOLOGY
OpenAI fires back at Musk over ‘altruism versus greed’ lawsuit
The dispute is escalating as the fast-growing company at the forefront of AI innovation is mulling moving from its current nonprofit model
WORLD
HBO documentary suggests this software developer could be Bitcoin creator Satoshi Nakamoto
Called “Money Electric: The Bitcoin Mystery,” the 100-minute film on Tuesday features interviews with a handful of people who’d been involved with Bitcoin from early on
MARKETS
China’s stocks decline amid broader Asian rally
The CSI300 index fell as much as 5%, almost erasing gains of yesterday, while stocks in Hong Kong gained 1.7% after the biggest tumble in 16 years Tuesday
BUSINESS
Sri Lanka’s new government pledges review of Adani wind project
The move to reassess the Adani Green deal follows through on a campaign pledge by newly elected president Anura Kumara Dissanayake, who was swept into office last month after a closely contested three-way race.
BUSINESS
GIC may sell $5 billion stake in Greenko, valuing the renewable firm at $10 billion
The Singaporean sovereign wealth fund is in initial discussions with financial advisers to help evaluate a full or partial sale of its holding in Greenko, the people said, asking not to be identified because the matter is private.
BUSINESS
China's economic slowdown to intensify, says World Bank; how it could strain East Asian economies
The country’s growth rate is expected to decline to 4.3% next year, down from an estimated 4.8% in 2024, according to the World Bank’s latest economic outlook.
MARKETS
China’s stock rally fizzles as traders reassess stimulus bets
The benchmark CSI 300 index gained as much as 11% to start the session. Shares dropped in Japan, South Korea and Hong Kong after Wall Street was dragged down by a tech selloff, geopolitical angst and bets on a smaller Federal Reserve rate cut
BUSINESS
FTSE’s Index revamp has Korean, Indian bond markets on watch
FTSE Russell will on Oct. 8 announce any inclusions into benchmarks including its World Government Bond Index, with a market value of $29 trillion.
MARKETS
India’s $20 billion deals pipeline lures funds to PE-held stakes
Demand for these types of transactions has risen in the last few months, according to Paul Robine, founder and chief executive officer of TR Capital, an Asia-focused secondary buyer
WORLD
'Not the only sport to suffer': Why Singapore scrapped 182-year-old horse racing
As the last stragglers took pictures amid discarded betting tickets, the screen flashed its final message: “THANK YOU.”
BUSINESS
FM Nirmala Sitharaman sees India's per-capita income almost doubling
“The upcoming decades will see the steepest rise in living standards for the common man, truly making it a period-defining era for an Indian to live in,” Sitharaman said.
BUSINESS
Fed’s Austan Goolsbee welcomes jobs report, flags risk of low inflation
Goolsbee said both inflation, which has cooled toward the Fed’s 2% target, and employment are in a good place right now and that Fed officials should do what they can to 'freeze' them in place.
BUSINESS
India, EU in negotiations as October deadline on oversight looms
The talks are ongoing in a constructive and amicable atmosphere, one of the people said. Emails to AMF, BaFin and the RBI were unaswered
BUSINESS
BofA’s Michael Hartnett sees risk-on rally if US jobs data is as expected
US stocks have stumbled in the first few days of October after rallying for five straight months, as investors assess geopolitical risks in the Middle East, global economic growth and interest rates.
BUSINESS
Emerging market bonds eye payrolls data for fresh momentum
A Bloomberg index of hard currency emerging-market sovereign bonds has been flat this week, but Friday’s payrolls report could inject fresh momentum into dollar-denominated debt.
BUSINESS
Piramal Pharma aims to double revenue in five years
Piramal said the company plans to achieve these targets mostly organically, which means filling existing capacity and from new molecules that are currently undergoing clinical trials.
BUSINESS
Temasek in talks for $1 billion-plus stake in Haldiram Snacks
The Singapore state investor is holding preliminary talks to buy from 10% to 15% in Haldiram, the people said, asking not to be identified because the matter is private.
BUSINESS
Rakesh Gangwal buys $108 million of shares in Southwest Airlines
In a series of transactions disclosed over seven filings, Gangwal acquired 3.6 million of the carrier’s common shares for roughly $29 apiece.
BUSINESS
GQG Partners' Rajiv Jain unimpressed by the China rally after the stimulus blitz
GQG Partners Emerging Markets Equity Fund has kept his holdings in Chinese stocks at about 12% of the fund — roughly half of the weighting of its benchmark.
BUSINESS
China’s sudden stock rally sucks money from rest of Asia
The MSCI China Index has risen more than 30% from a recent low as authorities announced a barrage of measures to revive growth. Trading turnover in both China and Hong Kong hit a record high on Monday.
BUSINESS
Warren Buffett may target Japan's bank and insurance shares, analysts say
The renewed presence of Buffett, known as the Oracle of Omaha, may provide a cheer for Japanese stocks as his endorsement to the five major trading houses helped propel the Nikkei 225 Stock Average to a record high earlier this year.
TECHNOLOGY
Will AI run your house soon in future? This is what SoftBank’s Son thinks about tech's potential
He moved up his expectation for when artificial general intelligence — the long-term goal for developers from OpenAI to Meta Platforms Inc. and Alphabet Inc.’s Google — would arrive to within the next two to three years
MARKETS
Hong Kong brokers swamped by ‘once in a century’ stock frenzy
Brokers across Hong Kong are experiencing a similar euphoria as the stocks of Chinese companies soar in the wake of landmark stimulus moves by Beijing last week
MARKETS
Japanese stocks rise as PM Ishiba’s comment weakens yen
The yen tumbled about 2% against the dollar Wednesday, its worst day since June 2022, after Shigeru Ishiba said the economy isn’t ready for another hike
