WORLD
Google, Meta and Apple set to win US approval for virtual reality devices
The very low power gadgets would be allowed to tap airwaves used by Wi-Fi-enabled devices under a proposal announced Wednesday by Federal Communications Commission Chairwoman Jessica Rosenworcel.
BUSINESS
India investors are buying dividend stocks as rally stalls
The NSE Nifty Dividend Opportunities 50 Index has rallied 22% this year while the NSE Nifty 50 Index advanced a tad below 9%, putting the gap between the two measures near a reading in 2010.
WORLD
Crypto exchange Kraken plans to offer trading in US-listed stocks
Kraken will initially offer trading in the United States and the United Kingdom through a service built by a new division called Kraken Securities, and is targeting to launch the service in 2024, the report said.
WORLD
Emerging currencies slump, on brink of erasing 2023 gains
The Brazilian real was among the biggest decliners of the day on Wednesday, set for its longest losing streak in more than two years.
BUSINESS
Oil hits $95 a barrel on shrinking stockpiles at vital US hub
The US benchmark popped above the threshold after jumping 3.6% on Wednesday, its biggest gain since early May. Inventories at Cushing, Oklahoma — the delivery point for the US benchmark — dropped just below 22 million barrels, the lowest since July 2022 and close to operational minimums.
BUSINESS
Vedanta is preparing to de-merge sprawling operations
The company has informed its lenders of the restructuring and could announce the plans in the coming days, according to the people.
BUSINESS
India will sell 50-year bonds for the first time
India will sell 50-year bonds for the first time, introducing ultra-long maturity debt to cater to the growing demand from insurance and pension funds.
BANKS
DBS India Managing Director for Institutional Bank said to quit
Veteran banker Sandeep Chopra, has resigned as a managing director at DBS Group Holdings Ltd.’s India unit, according to people familiar with the matter.
BUSINESS
Binance exits Russia with sale to just-launched exchange
Binance said it exited its Russia business by selling it to CommEX, a crypto exchange that says it officially launched on Tuesday.
WORLD
US Government Shutdown’s Economic Risks Grow the Longer It Lasts
Federal contractors ranging from Elon Musk’s SpaceX to janitorial service providers for local federal buildings are bracing for up to $1.9 billion a day in lost and delayed revenue as funding lapses Oct. 1.
WORLD
The newest addition to the office wardrobe? serious athletic sneakers
Their next move was a running sneaker line, and the fashion world took notice. “Our first retailer for men’s sneakers was Saks Fifth Avenue, and right away we became the two top-selling shoes there,” Ryan says.
INDIA
Why retiring in India no longer requires living with the kids
Indian culture places paramount importance on respect for elders, with multigenerational households the norm.
WORLD
Antarctica’s shrinking sea ice hits a record low, alarming scientists
Peak Antarctic ice coverage during the region’s winter — which is the northern hemisphere’s summer — likely occurred on Sept. 10. On that date sea ice stretched over 16.96 million square kilometers, after which it began to shrink, the NSIDC said. This took place almost two weeks earlier than the median date of September 23 between 1981 and 2010.
WORLD
China puts Evergrande’s billionaire founder under police control
Hui Ka Yan Hui was taken away by Chinese police earlier this month and is being monitored at a designated location, the people said, asking not to be identified because the matter is private.
WORLD
CVC mulls sale of controlling stake in HealthCare Global
The private equity firm is looking to identify buyers for its 60.4% in the Mumbai-listed company, said the people, who asked not to be identified as the information is private. CVC’s stake is worth about $345 million, according to data compiled by Bloomberg.
BUSINESS
JPMorgan to block crypto payments from Chase UK bank accounts
Chase UK clients will no longer be able to make crypto transactions via debit card or by outgoing bank transfer from Oct. 16, according to an email sent to customers.
BUSINESS
Google DeepMind alum raises $14 million for new AI venture firm
Vishal Maini, a former DeepMind researcher, founded Mythos earlier this year and has raised $14 million from more than four dozen investors, according to a filing this month.
WORLD
Apple’s $59 Fake-Suede iPhone Case Is Its Biggest Dud of 2023
Consumers and reviewers haven’t seen it that way. The fabric, which Apple calls FineWoven, has been panned for being prone to scratches and stains — with an almost-slippery feel that’s off-putting to some.
WORLD
Taliban controls the world’s best performing currency this quarter
The currency controls, cash inflows and other remittances have helped the afghani climb around 9% this quarter, outpacing the likes of the Colombian peso’s 3% gain, data compiled by Bloomberg show.
WORLD
Emmanuel Macron is pushing europe into $900 billion fight with China
The government in Paris has taken a key role in driving the policy shift, according to people familiar with its thinking, calculating that inaction now would put the bloc’s economy on a path to long-term damage.
WORLD
China scoops up cheap Indian iron ore in bid to trim steel costs
India will continue to sell about 3 million tons a month to global markets for rest of the year, CRU Group said.
WORLD
Goldman CEO David Solomon dismisses calls to end ties to fossil-fuel firms
Last year, the vast majority of energy in the world came from fossil fuels, and emissions grew, Solomon said, adding that “we recognize there needs to be a transition over time but that transition is going to take time.”
WORLD
TikTok shopping ambitions face blow as Indonesia plans curbs
Indonesia is prohibiting social media companies from facilitating direct e-commerce payments on their platforms, Trade Minister Zulkifli Hasan said Monday.
BUSINESS
JPMorgan adding India bonds will see public finances scrutinized
JP Morgan Chase & Co.’s plan to include Indian government bonds to its emerging markets bond index next year will draw scrutiny from foreign investors on public finances, particularly on efforts to cut the budget deficit.
