BUSINESS
Asian stocks inch higher at the start of Fed week
MSCI Inc.’s gauge of Asian equities fell 0.1%, in line with the decline in US stock index futures. Shares in Australia also dropped while the Nikkei 225 lost 0.4%.
BUSINESS
US state department official visits India as trade talks pick up
US Under Secretary of State for Political Affairs Allison Hooker will visit from Sunday till Thursday to advance the 'strategic partnership' between the two nations
WORLD
SpaceX to offer insider shares at record-setting $800 billion valuation
SpaceX is also exploring a possible initial public offering as soon as late next year
WORLD
Apple rocked by executive departures, with chip chief at risk of leaving next
In just the past week, Apple’s heads of artificial intelligence and interface design stepped down.
WORLD
Jerome Powell on track for Fed rate cut despite some dissent
The Fed delivered a second straight reduction in October driven by the summer’s sudden deterioration in the US labor market
BUSINESS
India, US investigators to review key data next week in Air India 787 crash case
The preliminary report showed the aircraft’s fuel-control switches were turned off immediately after the plane departed from an airport in Ahmedabad, causing the engines to lose power and dooming the flight.
BUSINESS
Netflix’s $5.8 billion breakup fee for Warner among largest ever
At 8% of the deal’s equity value, the fee is well above the average even in big-ticket dealmaking, signaling Netflix executives’ confidence they can convince global antitrust watchdogs to let the transaction go ahead.
BUSINESS
Musk's SpaceX discusses record valuation, IPO as soon as 2026
The company’s latest tender offer could value SpaceX at as much as $800 billion, said the people, who asked not to be identified as the information isn’t public.
BUSINESS
Stocks Hold Onto Gains as Fed Countdown Begins: Markets Wrap
A December rate cut is a not given for every Fed watcher. BlackRock CIO of Global Fixed Income Rick Rieder told Bloomberg Television before the data that he is expecting some dissents and disagreement at the next meeting.
BUSINESS
Warner Bros. begins exclusive deal talks with Netflix
Netflix’s interest in Warner Bros. also sent shivers through Hollywood. The company has largely refused to release films in theaters, occasionally giving its original movies limited runs in cinemas.
BUSINESS
Jane Street’s trading haul juiced by surging bet on Anthropic
Jane Street has invested in Anthropic’s series E and series F fundraising rounds.
BUSINESS
PPFAS, Bank of Baroda seek nod to manage pension funds
Bank of Baroda and another company are also talking to the Pension Fund Regulatory and Development Authority or PFRDA for asset manager licenses, people familiar with the matter said, asking not to be identified as the discussions are private.
BUSINESS
Chinese chipmaker Moore Threads shares soars 502% after $1.1 billion IPO
Moore Threads' share frenzy stands out in an otherwise sluggish market, signaling strong investor appetite in specific sectors like this year’s AI winners.
BUSINESS
India may seek bids for $7 billion IDBI Bank stake this month
India is aiming to sell 60.72% in the Mumbai-based lender, which amounts to about $7.1 billion at IDBI Bank’s current market price.
BUSINESS
Apple taps Meta lawyer as general counsel in latest shake-up
In a separate move, governmental affairs executive Lisa Jackson will retire in late January. She has overseen environment, policy and social initiatives at the company.
BUSINESS
Meta’s Zuckerberg plans deep cuts for metaverse efforts
Meta confirmed a reduction in resources for the metaverse, and said savings are expected to funnel toward other futuristic projects within Meta’s Reality Labs division, including AI glasses and other wearables.
WORLD
Asian stocks snap three-day gain, Japan leads drop
MSCI Inc.’s gauge for regional shares fell as much as 0.6%, with Japanese indexes leading declines after a strong rally in the previous session.
BUSINESS
S&P 500 Rally Wavers Near Record as Bonds Decline: Markets Wrap
The US tech sector is likely to remain a key driver for the market’s next leg up, but its recent underperformance also points to other compelling opportunities across the market, according to Ulrike Hoffmann-Burchardi at UBS Global Wealth Management.
BUSINESS
Reliance is said to start work on draft prospectus for Jio’s likely record IPO
The company is informally speaking with banks to prepare a prospectus that they plan to file with the regulator as soon as possible, the people said, asking not to be identified.
BUSINESS
Rupee’s undervaluation to lure global funds, say analysts
The rupee hit a fresh record low in early trading Thursday, extending its break below the closely watched 90-per-dollar level
INDIA
India clinches $2 billion Russia submarine deal as Putin visits
Talks for leasing the attack submarine from Russia had stalled over the years because of price negotiations
COMPANIES
SoftBank cuts InMobi stake in $250 million buyback deal
InMobi will repurchase the shares to reduce SoftBank’s holding to less than 10% from more than 30%
BUSINESS
European Union to begin probe into WhatsApp AI features rollout, FT says
The EU has in recent years ramped up pressure on Big Tech, seeking to curb potential market abuses as the US tech titans’ clout and digital footprint expanded
ECONOMY
Rupee’s slump complicates RBI path to rate cut: Experts
A majority of the 44 economists surveyed by Bloomberg expect the central bank to cut its benchmark repurchase rate by a quarter point to 5.25% on Friday given inflation is well below the 4% target
