BUSINESS
Israel shekel slumps despite $45 billion central bank pledge
The central bank said it would sell as much as $30 billion and extend up to $15 billion through swap mechanisms as part of an unprecedented program to support markets, according to a statement on Monday.
BUSINESS
Hinduja in talks with private debt funds for about $800 million
Over the last five years, the country notched up the highest investment volume in Asia, according to research from the Global Private Capital Association, a body representing investors.
BUSINESS
Israel orders shutdown of key gas field as violence rages
Gas discoveries in Israel over the last two decades have transformed the economy and turned it into an exporter of the fuel. Some of the supply goes to Egypt which in turn pushes it to Europe, just as the continent was seeking alternatives to Russian pipeline flows.
BUSINESS
E-Scooter makers asked to return $60 million aid for using China parts
It turned out that some manufacturers were importing ready-to-use parts, mainly from China, and thus had little control over the quality of their end products, leaving customers vulnerable to life-threatening incidents.
BUSINESS
OPEC boosts oil demand forecast to 2045 despite climate crisis
Oil consumption will climb 16% over the next two decades to reach 116 million barrels a day in 2045, about 6 million a day more than previously predicted, the Organization of Petroleum Exporting Countries said in its World Oil Outlook.
BUSINESS
Distressed debt anxiety is spreading across emerging markets
A total of 21 emerging-market nations have sovereign dollar debt trading near distressed levels, as measured by their sovereign dollar bonds trading around a 1,000 basis-point premium to Treasuries, according to data compiled by Bloomberg.
WORLD
Air travel is back to pre-pandemic levels with new turbulence ahead
This week, global airline capacity is poised to finally surpass its corresponding 2019 levels, based on data from aviation analytics firm Cirium.
WORLD
Rate cliff awaits global economy after higher-for-longer plateau
That’s the outlook foreseen by Bloomberg Economics, whose aggregate gauge of world interest rates is seen beginning a swift descent in the first quarter. In advanced economies, that shift will take only slightly longer to transpire before they too synchronize downwards.
BUSINESS
Oil jumps as Hamas’ attack on Israel fans Middle East tensions
West Texas Intermediate traded near $87 a barrel as a war-risk premium returned to markets. The combined death toll topped 1,100 as fighting headed into a third day, while the US said it was sending warships to the region.
BUSINESS
As Israel war rages, oil traders are focused on Iran
A retaliatory strike against the Islamic Republic would inflame fears over the Strait of Hormuz, the vital shipping artery which Tehran has previously threatened to shutter
BUSINESS
Stocks sink across Middle East as Israel goes to war with Hamas
Major equities gauges in the region fell Sunday, led by a 7% drop on Israel’s benchmark TA-35 stock index, its biggest loss in more than three years.
BUSINESS
Ozempic for weight loss is disrupting companies’ business model
Companies from Walmart Inc. to Conagra Brands Inc. are weighing how much to factor the diabetes drugs known as GLP-1s, increasingly being used for weight loss, into their strategies.
BUSINESS
US shutdown fears are back and nascent IPO rebound could get hit
BUSINESS
India central bank ups guardrails ahead of global index inflows
India's central bank enhances its tools to combat inflation as it prepares for its entry into a global bond index, potentially increasing price pressures.
BUSINESS
Disney said to be in talks with Adani, Sun TV to sell India business
Asset-sale talks have already been held with Reliance Industries Ltd., controlled by Asia’s richest person, Mukesh Ambani, Bloomberg News reported earlier on.
BUSINESS
Exxon in talks to buy shale driller Pioneer Natural for $60 billion, likely to be 2023's biggest deal
An agreement could be worth as much as $60 billion and may be completed in the coming days provided there are no complications, according to the Wall Street Journal, which first reported the talks on Thursday.
BUSINESS
Vedanta open to changing terms of proposal to delay bond payment
Some bondholders said they wanted more cash up front than what was offered by the company, said some of the people, who asked not to be named because the discussions are confidential
WORLD
Who is Anthony Pratt, the billionaire Donald Trump allegedly shared nuclear secrets with?
Here’s a quick rundown of what you need to know about Australia’s ‘cardboard king’.
WORLD
Exxon Mobil near $60 billion deal to buy Pioneer
A deal could be completed in the coming days provided there are no complications, according to the newspaper.
WORLD
Sam Bankman-Fried told MIT friend $8 billion hole meant FTX wasn’t ‘bulletproof’
Dressed in a gray suit and red tie, Wang didn’t make eye contact with Bankman-Fried as he entered the Manhattan courtroom Thursday afternoon to testify as a government witness.
WORLD
X to test three tiers of service in latest Elon Musk overhaul
The premium plan, which currently costs $7.99 a month, would be split into Basic, Standard and Plus variations as part of the effort, the company told debt holders during the briefing Thursday, according to a person who dialed into the call.
BUSINESS
Fed’s bid to avoid recession tested by yields nearing 20-year highs
The 10-year Treasury yields rose more than half a percentage point the past month to surpass 4.7%, which heightens the danger in the near-term of a financial blowup akin to the regional bank breakdown in March
TRAVEL
These are the cities where hotel rates are rising fastest
Buenos Aires takes this year’s crown, with rates that are set to jump by 17% year over year, according to the Hotel Monitor 2024 report
WORLD
Ozempic is making people buy less food, Walmart says
An increasing number of CEOs and investors are talking about how popular weight-loss drugs might change the economy and business.
