BUSINESS
Coal’s hold on India clouds PM Modi’s G-20 green leadership drive
The world’s most populous country has eye-catching targets for hydrogen, solar and biofuels, and can point to some dramatic progress on renewables. India has installed 71 gigawatts of solar from a negligible amount a decade ago, including a record deployment of utility-scale capacity last year.
WORLD
Emerging markets set for ‘Wild Ride’ on moves in dollar and oil
MSCI Inc.’s gauge of developing equities fell as much as 0.5%, extending its decline to a second day, while the currencies dropped to the lowest in over two weeks. Volatility across emerging markets have prompted Barclays PLC to predict a “wild ride” in local markets.
BUSINESS
AMC Entertainment Holdings plans to sell stock but warns investors of losses
The company filed on Wednesday plans to sell up to 40 million shares of its common stock
BUSINESS
Rise of China’s EV makers threatens Western firms, UBS says
Led by BYD Co., Chinese carmakers will almost double their share of the auto market to 33% by the end of the decade, UBS analysts including Patrick Hummel and Paul Gong wrote in an Aug. 31 report.
WORLD
Saudi Arabia prolong 1 million barrel oil output cut for 3 months
The move by Saudi Arabia will hold output at about 9 million barrels a day, the lowest level in several years.
BUSINESS
SoftBank’s Arm seeks to raise up to $4.87 billion in anticipated IPO
Arm said in a filing Tuesday with the US Securities and Exchange Commission that it will offer 95.5 million American depository shares for $47 to $51 each.
WORLD
Gulf royal’s $1.5 trillion empire draws bankers and billionaires
Over the past few months, Sheikh Tahnoon bin Zayed Al Nahyan has gained control of the largest sovereign wealth fund in the United Arab Emirates, expanding the assets he oversees to almost $1.5 trillion.
BUSINESS
Paytm founder Vijay Shekhar Sharma says he’s looking for chances to raise stake
“There is never a day that I would not buy more equity in Paytm,” Sharma told Bloomberg News in an interview on Monday. “The single largest shareholder of Paytm is now an Indian, that is myself, and I believe this is definitely a key milestone.”
WORLD
China slowdown means it may never overtake US economy, forecast shows
That’s according to Bloomberg Economics, which now forecasts it will take until the mid-2040s for China’s gross domestic product to exceed that of the US — and even then, it will happen by “only a small margin” before “falling back behind.”
WORLD
Uday Kotak sought to allay RBI concerns on succession with an early resignation
Uday Kotak, the country’s richest financier, resigned the same week the bank sent two names including his long-time lieutenant K V S Manian to the Reserve Bank of India as his potential successors, according to people familiar with the matter.
WORLD
Israel, Cyprus, Greece eye gas cooperation, Benjamin Netanyahu says
Cyprus, Greece and Israel could employ the current 3+1 format used for joint meetings with the US to set up a similar arrangement to include India, Netanyahu said.
WORLD
Debt crisis threatens to engulf China’s surviving developers
Out of the nation’s top 50 private-sector developers by dollar bond issuance, 34 have already suffered delinquencies on offshore debt, according to Bloomberg-compiled data as of Sept. 1.
WORLD
Mercedes CEO changes tune on China as ‘economic wonder’ stalls
Mercedes-Benz Group AG had enjoyed a string of successful years in the country, the chief executive officer said, but the best was yet to come.
BUSINESS
Big Tech firms bracing for EU’s biggest antitrust crackdown; Apple, Alphabet, Meta likely to be affected
The Digital Markets Act, or DMA, which takes effect early next year, will impose a rigid regime of dos and don’ts on firms that previously left regulators in their wake
BUSINESS
UK drivers hit by one of the biggest fuel price jumps in decades
Pump prices were driven up by the cost of oil as producer group OPEC and its allies curbed output
WORLD
Trafigura Says ‘Fragile’ Oil Market May Be Prone to Price Spikes
The consensus view is for prices to remain near current levels, but the market is “more fragile than it looks,” Ben Luckock, the co-head of oil trading said in an interview at APPEC in Singapore. Brent crude is nearing $90 a barrel after OPEC+ heavyweights reduced supply — curbs that could continue further.
WORLD
China to Set Up New Agency to Promote Private Sector Growth
The private economy development bureau will be responsible for tracking and analyzing the state of the industry, along with coordinating and drafting policies to promote its growth, the National Development and Reform Commission announced Monday.
WORLD
Veteran oil consultant says $100 oil is in sight as China takes to the skies
Domestic flights in China are already back to 110% of their pre-pandemic levels and long-distance road travel is still dominated by gasoline-powered cars, Gary Ross said in an interview at APPEC by S&P Global Commodity Insights in Singapore on Monday.
AUTOMOBILE
Mercedes new launch bets on range boost in swipe at Tesla’s EV lead
The company presented a near-production concept of its CLA sedan rated to go more than 750 kilometers (466 miles) on a single charge, beating Tesla’s refreshed Model 3.
WORLD
Xi Jinping’s G-20 snub marks shift from statesman to China ‘emperor’
Now Xi seems to be taking a different approach, dodging an event where he’d likely face thorny questions over China’s economic trajectory, Beijing’s military aggression toward Taiwan and his support for Russia after its invasion of Ukraine.
WORLD
Chinese banks lend billions to Russia amid western sanctions
Since Moscow’s invasion of Ukraine in February 2022, western regulators have cracked down on Russia by imposing sanctions and urging banking institutions to pull back on operations in the country. Chinese lenders are now filling the gap, the newspaper said.
WORLD
From BlackRock to Pimco, bond investors bet Fed hiking is over
While inflation has been trending lower in recent months, a resilient job market has been the main stumbling block for the Fed to stop hiking after raising the borrowing costs by 525 basis points since March 2022, to a range of 5.25-5.5 percent.
WORLD
US, allies see opportunity and risk in China’s slowing economy
If China once seemed on an inevitable path to overtaking a declining America as the world’s leading economic power, that’s no longer the case. The calculations in Washington and beyond are increasingly about how to deal with a China that, even if it is not yet in absolute decline, may well be approaching a peak in power.
BUSINESS
Rice market shows strain after India’s six-week campaign of curbs
Rice prices in Asia jumped back near the highest level in almost 15 years on August 30 after India slapped more curbs on parboiled and basmati over the previous weekend.
