WORLD
Netflix adds 9.33 million customers, says gains will slow
The company added 9.33 million customers in the first quarter of 2024, according to a statement Thursday, nearly doubling the 4.84 million average of analysts’ estimates.
BUSINESS
These emerging markets have healthy buffers against US dollar shock
More than a dozen emerging-market currencies have tumbled versus the greenback this month, as the Federal Reserve looks poised to keep interest rates higher for longer.
BUSINESS
JPMorgan says buy the dip if India poll volatility hits stocks
Prime Minister Narendra Modi-led Bharatiya Janata Party is widely expected to win a third term, which will help his administration continue its focus on modernizing infrastructure and boost manufacturing
BUSINESS
AI computing is on pace to consume more energy than India, Arm says
By 2030, the world’s data centers are on course to use more electricity than India, the world’s most populous country, Haas said. Finding ways to head off that projected tripling of energy use is paramount if artificial intelligence is going to achieve its promise, he said.
BUSINESS
Airbus, Rolls-Royce close to $20 billion Turkish Airlines parts deal
A deal could be announced at a ceremony in Istanbul later this month, according to Turkish officials familiar with the matter. The Turkish state is the largest shareholder in the airline.
BUSINESS
Cherry blossoms to cheap Yen spur record tourist visits to Japan
Tourist numbers from 17 markets reached a record for March, including the US, Vietnam and India
BUSINESS
Tesla asks shareholders to re-ratify Elon Musk’s $56 billion payout
In its proxy filing issued Wednesday, Tesla also said it will call a vote on moving the company’s state of incorporation to Texas, from Delaware.
BUSINESS
Ashmore counters consensus with big bet on China over India
With $6.5 billion invested in emerging equities, the fund has allocated 26% of its EM equity fund to China, while reducing India to less than half that, according to Edward Evans, a London-based EM equities portfolio manager.
WORLD
Tesla’s value dips below $500 billion in blow to stock bulls
The stock closed down 2.7% at $157.11 on Tuesday in New York, after touching a low of $153.75 at one point in the session, and has fallen 37% this year.
WORLD
Singapore orders all employers to consider workers’ flexi-time requests
Employees will also be entitled to ask for other arrangements such as flexible work locations come the end of this year.
WORLD
Dollar bulldozes its way through Asian FX with help from yuan
China’s move to weaken its daily reference rate for the yuan added to the selling pressure, with the Indonesian rupiah, Indian rupee and the South Korean won among the hardest hit.
BUSINESS
Kotak sees India index inclusion improving liquidity for banks
The anticipated entry of overseas funds into India’s $1.2 trillion government debt market presents an opportunity for lenders including Kotak to sell part of their bond investments to these new buyers, according to Joint Managing Director K.V.S Manian.
WORLD
China reports surprisingly strong growth driven by industry
Gross domestic product increased 5.3% in the January-to-March period from a year earlier, data released by the National Bureau of Statistics showed Tuesday.
WORLD
Tesla executive Drew Baglino leaves as Elon Musk loses another top deputy
The cuts could reach closer to 20% in some divisions, two people familiar with the matter say.
BUSINESS
Hermes can surpass Vuitton as luxury’s biggest brand, Citi says
The Birkin bag maker’s sales are set to hit the “symbolic” €20 billion ($21.3 billion) level by 2027 or before, Thomas Chauvet wrote in a note dated April 12 — a milestone that the Louis Vuitton fashion label reached in 2022. Hermes generated group revenue of €13.4 billion in 2023.
BUSINESS
Apple faces worst iPhone slump since Covid as China rivals rise
The 9.6% year-on-year drop is the steepest for Apple since Covid lockdowns snarled supply chains in 2022, the researchers said.
WORLD
Arming Ukraine turns Soviet tank refitter into a billionaire
Excalibur Army takes rusting Soviet-era tanks — often with mud and grass on them — and refits them for action. Since Russia invaded Ukraine in February 2022, the business run by Michal Strnad has benefited from the biggest demand for weapons since the end of the Cold War.
BUSINESS
Vedanta Group Asks JPMorgan to Arrange $300 Million India Bond
JPMorgan’s financing-solutions department in India, headed by Nitin Rungta, is reaching out to potential investors on behalf of the metals and mining company, according to people who asked not to be identified as the information is private.
BUSINESS
Tesla to cut over 10% of its global workforce: Report
Elon Musk cited 'duplication of roles and job functions in certain areas' as the reason for the cuts, said a report, citing an email the chief executive officer sent to staff
BUSINESS
Vedanta group asks JPMorgan to arrange $300 million India bond
The tenor of the proposed bonds is expected to be in the range of three to five years, the people said. Proceeds would be used to support the company’s business activities, they said.
BUSINESS
What’s next for oil? analysts weigh in after Iran’s attack
As Israel weighs its response to the assault, here’s what market watchers are saying about the outlook.
BUSINESS
Carlyle picks JPMorgan and Kotak to help arrange Hexaware IPO
The US investment firm plans to hold the IPO as early as in the fourth quarter of this year, the people said, asking not to be identified as the deliberations are private.
BUSINESS
Nepalese billionaire who made his fortune making instant noodles aims to list India unit by 2026
The listing plans for the firm, which has a 28% share in the local instant noodles market and an annual revenue of 8 billion rupees ($96.2 million), are still in the early stages of discussion, he added. It aims to grow its revenue by 15% this year.
WORLD
Apollo’s Asia expansion has lured in $35 billion from region
Under head of Asia-Pacific Matthew Michelini — the person chief executive officer Marc Rowan picked to reshape Apollo’s presence in the region — the company has been tapping into clients’ demand for more reliable yields from private markets investments including credit and hybrid financing.
