BUSINESS
Elon Musk warns against margin debt on risk of market ‘mass panic’
“I would really advise people not to have margin debt in a volatile stock market and you know, from a cash standpoint, keep powder dry,” Musk said in the All-In podcast released Friday.
BUSINESS
The biggest risk to India's growth story is not the coming recession
India’s $3.18 trillion economy expanded 6.3% from a year ago in the quarter to September, down from 13.5% in the previous three months. The deceleration comes amid fears of slowing global economic growth due to restrictive monetary policy to curb inflation.
BUSINESS
Centre may spend less on fertilizer subsidy to ease fiscal burden
The lower fertilizer allocation will help with India’s goal of cutting its budget deficit. Food and energy costs have jumped after Russia’s invasion of Ukraine. The government’s spending on food, fertilizer and fuel is set to exceed the budget estimate by almost 70% this year.
BUSINESS
Elon Musk’s frequent Twitter polls are at risk of bot manipulation
With less than $100, one can buy tens of thousands of votes for Twitter polls using bot-for-hire manipulation services, according to the nonprofit digital rights group Accountable Tech.
BUSINESS
Top banks vie for no.1 bond spot as credit demand surges
Indian businesses are hungry for credit, despite rising interest rates, as they borrow to cover higher operational costs and for more investments. Corporate bond sales also got a boost this month from record issuance of riskier debt by banks to buffer their capital and allow more lending.
BUSINESS
$4 billion investment fund NIIF faces questions from government
Critics inside and outside the government complain that NIIF — which handles about $4.3 billion in assets — lacks vision, decisiveness and the ability to win over investors.
BUSINESS
Rules likely for quicker resolution of real estate bankruptcies
The proposed change to the nation’s Insolvency and Bankruptcy Code will permit resolution of the cases on a project-wise basis, the people said, asking not to be named, as the information is not public.
WORLD
China's covid wave could spark a dangerous new variant, fears the world
The situation in China is unique because of the path it’s followed throughout the pandemic.
WORLD
China’s soaring Covid cases send people to black market for pills
The country’s abrupt U-turn on Covid Zero earlier this month surprised health experts and residents, as officials appear to have done little planning for the inevitable rise in cases that comes with reopening.
BUSINESS
Tata’s Bigbasket eyes IPO by 2025 after $200 million fundraising
The Bengaluru-based e-commerce firm, which is focusing on expanding its pan-India reach, may choose to launch an initial public offering in 24 to 36 months
BUSINESS
No sign of smartphone recovery until late 2023, says top battery maker TDK
Tokyo-based TDK, which provides batteries for the entire mobile industry including Apple Inc.’s iPhone, sees little indication of a rebound following major declines in handset sales, especially in the key market of China.
BUSINESS
Global era of negative yields is ending as Japan note tops zero
The rate added as much as two basis points to 0.01% on Wednesday, according to Japan Bond Trading Co. data, as the country’s debt extended declines after the central bank doubled its cap on 10-year yields on Tuesday.
BUSINESS
Elon Musk’s net worth sinks to two-year low
The selloff adds to the woes of Musk, who lost his status as the world’s richest person to luxury tycoon Bernard Arnault on December 13.
BUSINESS
Donald Trump’s tax records to be released by democrats after House panel vote
Tuesday’s action by the Ways and Means Committee — over the objections of the panel’s Republicans — comes in the waning days of the House Democratic majority and one day after Trump was referred for criminal prosecution by another House panel.
MARKETS
Private equity’s tough year shows no signs of letting up
After a red-hot 2021, private equity funds raised $404.6 billion of capital during the first nine months of 2022, a decline of more than 20 percent from a year earlier
BUSINESS
3M will stop producing ‘Forever Chemical’ PFAS by end of 2025
The industrial conglomerate expects to book pretax charges of $1.3 billion to $2.3 billion as it stops making per- and polyfluoroalkyl substances, or PFAS.
BUSINESS
Global markets jolted as BOJ surprises with yield policy change
Japanese government bonds and Treasuries both slumped, while the yen surged after the BOJ raised its cap on benchmark 10-year yields to around 0.5% from 0.25%, surprising every economist surveyed by Bloomberg.
BUSINESS
The 13 best beers this year
And whether the occasion was splitting a bomber of barleywine with a couple of old college roommates or striking up a conversation with a stranger at an airport bar, beer fueled and lubricated many reintroductions to the wild.
BUSINESS
A 35,000% stock market return in Europe? Here’s how
Hexatronic is one of 55 European companies worth more than $1 billion whose value multiplied by 10 in the past decade with dividends reinvested, Bloomberg data show. With returns like these, who needs crypto?
BUSINESS
Elon Musk says Twitter will restrict voting on policy to Blue members
A day earlier, the billionaire chief pledged to submit all future policy decisions to a vote and offered Twitter users a choice on leadership, asking them if he should step down.
BUSINESS
China’s Covid-19 outbreak has US worried about new variants
“When it comes to the current outbreak in China, we want to see this addressed,” State Department spokesman Ned Price said in a briefing on Monday. “We know that anytime the virus is spreading in the wild that it has the potential to mutate and to pose a threat to people everywhere.”
WORLD
Oil extends gains as China reopening vies with slowdown concerns
West Texas Intermediate futures climbed toward $76 a barrel after closing 1.2% higher on Monday. China’s efforts to revive its economy by removing harsh virus curbs is spurring hopes of higher energy consumption in the long term, despite a surge in cases clouding the near-term outlook.
BUSINESS
Binance US to buy bankrupt Voyager Digital's assets for $1 billion
Voyager selected Binance.US as the highest and best bidder after reviewing options, the company said in a statement Monday.
BUSINESS
COP15 adopts biodiversity plan to protect 30% of land and water by 2030
Rich nations committed to pay an estimated $30 billion a year by 2030 to poorer nations through a new biodiversity fund that will be created under the Global Environment Facility, a 30-year-old organization that supports environmental work.
