BUSINESS
Dollar gains as Powell avoids committing to a December rate cut
Policymakers on Wednesday made a quarter-point cut to their benchmark rate to a range of 3.75%-4%, as widely expected.
BUSINESS
Fed to end balance sheet runoff December 1 amid rising funding costs
The move came as funding costs have been rising while liquidity is drying up, leading a number of Wall Street banks to warn that the Fed should abandon the process
WORLD
Wall Street climbs on US Fed day as Nvidia hits $5 trillion market valuation
A renewed tech rally sent the S&P 500 up for a fifth straight day, putting the gauge on track for its longest streak of monthly gains since 2021
WORLD
China unleashes media blitz on Taiwan before Xi-Trump meet
Beijing ramps up state media campaign asserting its Taiwan claims ahead of Xi-Trump meeting, signaling no tolerance for independence.
BUSINESS
Etsy taps Chief Growth Officer as CEO to navigate the AI era
Kruti Patel Goyal, 49, is taking over an e-commerce business that has suffered slowing growth in recent years.
BUSINESS
US, South Korea finalize trade deal after months of talks
Both South Korea and the US had played down the notion that the two sides could finalize the agreement, which will see the US cap tariffs on South Korean goods at 15%, during Trump’s visit.
ECONOMY
Reserve Bank of India hastens repatriation of gold held abroad
The Reserve Bank of India brought back nearly 64 tons of gold in the first six months of the financial year that began in April
COMPANIES
Indian Oil and Vitol to launch trading joint venture in 2026
The agreement will include a clause requiring Vitol’s exit after five to seven years
WORLD
China vows significant boost to consumption share of economy
The Communist Party made the pledge Tuesday in a detailed document that was discussed at its fourth plenum held last week in Beijing. China will “form an economic development model driven more by domestic demand and powered by consumption,” it said.
BUSINESS
India’s $200 million-an-hour IPO boom shows rise of local investors
The power shift taking hold in India’s IPO space is similar to the one its $5.3 trillion stock market has experienced in recent years, thanks to an unprecedented retail investing boom brought about by the pandemic.
BUSINESS
Gold steady after three-day drop as trade hopes sap haven demand
Gold has retreated sharply from a torrid rally that drove prices to a record above $4,380 an ounce last week, an ascent that some traders saw as overheated.
BUSINESS
Asian stocks open higher as AI, Fed lift sentiment
Shares in Japan and South Korea rose, while Hong Kong is closed for a public holiday on Wednesday.
BUSINESS
KFC’s plan to catch up in the fried chicken wars: Ditch the bones
The 73-year-old brand’s focus on bone-in chicken — like its iconic red-and-white-striped bucket of fried drumsticks — has left it flailing among younger customers, who are obsessed with boneless white meat
WORLD
Russian crude flow edges lower, but don’t blame sanctions yet
Strong winds in the vicinity of the key Baltic port of Primorsk, gusting in excess of 50 miles an hour on Sunday according to figures from VisualCrossing.com, may have hampered loading operations at the end of the week
BUSINESS
Nvidia to invest $1 billion in Nokia in AI networking push
Nokia will issue about 166 million shares to Nvidia at $6.01 apiece, giving Nvidia a 2.9% stake in the Finnish company, the companies said
WORLD
Texas sues J&J, Kenvue over alleged Tylenol autism risks
Texas sues Johnson & Johnson and Kenvue, accusing them of concealing Tylenol’s alleged autism risks for children born to mothers who used the drug during pregnancy.
BUSINESS
Wall Street holds near record as Apple tops $4 trillion m-cap
While most major groups took a breather after the advance, the cohort of tech megacaps kept powering ahead
BUSINESS
OpenAI gives Microsoft 27% stake, clears path to for-profit
OpenAI has spent much of this year working to restructure as a more traditional for-profit company
BUSINESS
Nvidia investors look to Washington DC ‘Super Bowl’ to juice sluggish stock
The chip giant’s three-day artificial intelligence conference called 'GTC' began Monday in the US capital, and all eyes will be glued to the keynote address by Chief Executive Officer Jensen Huang scheduled for midday Tuesday
BUSINESS
HDFC bank puts bankers on leave amid Credit Suisse bond probe
The bank took the step over the last few months with the employees, who were at the center of the allegedly disputed trades of Credit Suisse’s Additional Tier 1 bonds
BUSINESS
Here are the five contenders to replace Powell as Fed chair
Treasure Secretary Bessent, who is leading the vetting process, has said he plans to do another round of interviews with the aim of presenting a “good slate” to President Donald Trump after the Thanksgiving holiday.
BUSINESS
Stock rally cools at Asian open, gold below $4,000
Gold steadied after slumping more than 3% to trade below $4,000 an ounce while a gauge of the dollar edged lower for a second day.
ENTERTAINMENT
BTS plans its biggest world tour ever for comeback in 2026
BTS has been working on a new album over the past few months with Hybe Co.
BUSINESS
India’s green shift may accelerate coal power retirement by 2030
Coal still meets about two thirds of India’s electricity demand, and the government announced plans to add nearly 90 gigawatts of additional capacity through 2032
