BUSINESS
Billionaire Adani said to plan raising $1.2 billion for flagship
Adani Enterprises Ltd. may seek to raise funds through a so-called qualified institutional placement, or QIP, the people said, asking not to be identified because the matter is private
BUSINESS
SoftBank unveils $3.4 billion buyback after Elliott’s push
The Tokyo-based technology investor plans to buy up to 6.8% of its free-floating outstanding shares in the year to August 7, 2025, according to a release Wednesday
WORLD
BOJ sends dovish signal after rate hike sparked market meltdown
The yen weakened by more than 2% against the dollar, bond futures spiked higher and stocks rebounded immediately after his comments, which were the first public remarks by a BOJ board member since the bank raised rates on July 31.
BUSINESS
India considering major cut to food weighting in new CPI basket
The panel, under the statistics ministry, is discussing a proposal to reduce the weight of food in the consumer price basket by as much as 8 percentage points, according to the person, who asked not to be identified as the discussions are private. The food and beverage category makes up 54.2% of the current CPI basket.
BUSINESS
Goldman seeks gains in Korea and India during Asian stock slump
Hiren Dasani, co-head of emerging markets equity, said he is bullish on South Korean shares and some artificial intelligence-related stocks in the region.
MARKETS
Asian stocks rise after BOJ eases rate worries
Bank of Japan’s deputy governor said the central bank won’t raise interest rates if markets are unstable.
WORLD
Nomura’s Christopher Willcox says BOJ vindicated as carry trades have more room to unwind
“The BOJ has been completely vindicated,” Christopher Willcox, head of trading and investment banking at Japan’s largest brokerage, said in a Bloomberg Television interview on Wednesday. There are still more carry trades to be unwound, he said.
WORLD
Japan’s $1.1 trillion stock meltdown rewrote the record books
The benchmark Topix index and the Nikkei 225 Stock Average each sank 12% on Monday, their steepest declines since the Black Monday crash in 1987
WORLD
David Solomon says Fed will forgo emergency cut despite weak jobs data
Investors stepped up bets that policymakers would act before their regularly scheduled September meeting after stock markets around the world plunged and employment data on Friday showed the US economy weakening more than expected.
WORLD
Kamala Harris bypasses bigger names for Tim Walz's broad appeal
In the end, Harris bypassed the pick from a more politically valuable state — Pennsylvania’s Josh Shapiro — for Minnesota’s Tim Walz, opting for a folksy governor whose mocking of Republicans Donald Trump and JD Vance as “weird” became a rallying cry for Democrats.
WORLD
Canada moves to shrink low-wage foreign worker program after explosive growth
Employment Minister Randy Boissonnault met with business groups on Tuesday and pledged stricter oversight, especially in “high-risk” sectors — and said he’s mulling banning some industries altogether from using the scheme to hire foreign workers for low-wage jobs.
BUSINESS
Asian stocks resume drop in rollercoaster trade
Equity benchmarks dropped in Japan and Australia, while futures pointed to modest gains in Hong Kong. The S&P 500 and Nasdaq 100 rose on Tuesday — following a Japan-led rebound in Asia — with both climbing 1% after a global meltdown. Wall Street’s “fear gauge” — the VIX — saw its biggest plunge since 2010.
BUSINESS
Morgan Stanley to allow advisers to offer Bitcoin ETFs to wealthy clients
The company in a memo told its 15,000-strong adviser base they can offer some clients to buy either BlackRock Inc.’s iShares Bitcoin Trust (ticker IBIT) or the Fidelity Wise Origin Bitcoin Fund (FBTC), the person said.
BUSINESS
What bankers say you should (and shouldn’t) do when markets crash
In recent days, financial markets have shifted from confident to fearful as grim milestones piled up
BUSINESS
Crisis in Bangladesh boosts shares of Indian textile makers
Bangladesh’s textile exporters face the risk of losing business amid political instability that saw violent protests forcing Prime Minister Sheikh Hasina to flee the country on Monday
BUSINESS
Asian stocks rebound from worst rout since 2008, led by Japan
The MSCI Asia Pacific Index jumped as much as 3.9%, heading for its best day since November 2022, following a rout of more than 6% on Monday.
WORLD
Bitcoin claws back from steep losses as crypto traders buy dip
Bitcoin was trading at $55,770 and Ether at $2,509, up nearly 3%, as of 10:13 a.m. in Singapore on Tuesday.
BUSINESS
State Bank of India deploys 2,000 bankers to woo the wealthy
The bank’s wealth management unit is “old” and it wants to change its approach to how it tackles this business, according to Chairman Dinesh Khara.
BUSINESS
Yen snaps five-day gain, weakens versus dollar in choppy trading
The currency then clawed back much of the intraday loss amid choppy trading and was down 0.6% at 145.02 as of 9:58 a.m. in Tokyo.
BUSINESS
Big tech traders brace for more swings as selloff turns violent
Those that chose to sit on the sidelines got a big opportunity to pounce Monday amid a rout that saw the Nasdaq 100 Index fall as much as 5.5%, extending a three-day slump into the double digits.
WORLD
Nvidia’s next-generation AI chip rollout slowed by engineering snags
The delays affected the company’s highly anticipated Blackwell lineup, which Nvidia announced in March, according to people familiar with the situation. A version of the chip — known as an AI accelerator — is being reworked to better work with data center infrastructure designed for an earlier chip, the Hopper H100.
BUSINESS
Japan’s retail investors show resiliency despite market turmoil
The Nikkei 225 share average fell 12.4% on Monday, the biggest percentage fall since Black Monday in 1987. Coupled with declines from the previous two days, the market’s gains since the start of year were wiped out.
BUSINESS
Japan stocks rebound more than 8% after plunge into bear market
The Nikkei 225 Stock Average and Topix rebounded more than 8%, the most since October 2008, as exporters such tech companies and automakers surged after the yen slumped about 1% against the dollar. Banks as a sector soared 10%, after tumbling 17% on Monday. All 33 of the Topix industry gauges climbed.
WORLD
OpenAI co-founders John Schulman and Greg Brockman step back
In a statement, an OpenAI spokesperson said the company is “grateful” for Schulman’s work at the company, including on its alignment research.
