HEALTH-AND-FITNESS
Evidence Is Mounting That Covid Is Bad for the Brain
Several studies have linked infections with brain fog, trouble concentrating and memory lapses.
COMMODITIES
Oil’s new map: How India turns Russia crude into the West’s fuel
India shipped about 89,000 barrels a day of gasoline and diesel to New York last month, the most in nearly four years. Daily low-sulfur diesel flows to Europe were at 172,000 barrels in January, the most since October 2021
ECONOMY
Jobs galore gives US consumers firepower to fight off recession
For much of the last two years, Americans’ pay couldn’t keep up with the rising cost of staples like food, rent or gasoline. But with price increases now slowing down, workers are finally seeing their inflation-adjusted incomes start to rise
BUSINESS
Adani Enterprises puts Rs 1,000-crore bond plan on backburner after market rout
The development is the latest in a sudden reversal of fortune for the conglomerate, after US-based short-seller Hindenburg Research late last month accused it of stock manipulation and accounting fraud.
BUSINESS
Adani rout eases, bringing some relief after turbulent week
At one point on Friday, losses for some Adani stocks including the flagship reached more than 50% since Hindenburg published its explosive report. The short seller said at that time that seven listed firms of the group are 85% overvalued even by taking the their financial metrics at face value.
LUXURY-LIFESTYLE
Independent watchmakers surge as Rolex, Patek remain unattainable
Horologer Ming is just one of the many brands that’s getting a moment in the sun among collectors who are frustrated with the big brands’ prices and availability—and who are discovering the quality of the small shops.
BUSINESS
Tesla Shipments of China-Made Cars Climbed 18% in January
The US electric vehicle maker shipped 66,051 China-built cars in January, according to preliminary data from China’s Passenger Car Association released Friday. That’s an 18% increase from December.
BUSINESS
Goldman Sachs, JPMorgan say Adani debt offers value to trading clients
Adani securities have attracted attention from opportunistic investors amid a staggering equity rout and a debt slump that took some bonds to distressed levels.
BUSINESS
Boris Johnson’s brother Jo resigns as director of Adani-linked firm
Jo Johnson resigned from the role this week, according to a regulatory filing. He was appointed in June 2022.
BUSINESS
Total says exposure to Adani is $3.1 billion of capital employed
Total owns stakes in businesses including Adani Total Gas Ltd. and Adani Green Energy Ltd., and has said its investments were undertaken in full compliance with Indian laws and its own internal governance processes.
BUSINESS
What you need to know about the Chinese spy balloon floating over the US
Here’s everything we know so far
BUSINESS
Meta evokes big tech’s glory days with biggest surge since 2013
The Facebook owner’s stock surged 23%, its biggest jump since 2013, to help it briefly trade over $500 billion in market capitalization.
BUSINESS
Adani backers from New York to Tokyo dissect and limit exposure
The billionaire’s interests, which include ports, power plants and coal mines, have fallen in value by more than $100 billion since Hindenburg Research’s fraud allegations last week.
BUSINESS
Google CEO Sundar Pichai says its ChatGPT rival coming soon as a ‘companion’ to search
Users will soon be able to use language models “as a companion to search,” Pichai said on a conference call following the internet search giant’s fourth-quarter earnings report on Thursday.
BUSINESS
Apple is dropping industrial design chief role in post-Jony Ive era
The iPhone maker’s vice president of industrial design, Evans Hankey, won’t be replaced when she leaves the company in the coming months, according to people with knowledge of the decision, who asked not to be identified because the deliberations are private. An Apple spokeswoman declined to comment.
BUSINESS
Apple blames rotten holiday quarter on supply chain, economy
Revenue fell 5.5% to $117.2 billion in the December quarter, Apple’s biggest sales period of the year, coming in well short of the average Wall Street estimate of $121.1 billion. It was Apple’s first quarterly decline since 2019 and the first time the company has missed analysts’ holiday sales projections since 2015.
BUSINESS
Meta was scraping sites for years while fighting the practice
Meta’s scraping surfaced in legal documents filed in a California court case in which the social media giant sued the Israel-based data collection company Bright Data for harvesting and selling information drawn from Facebook and Instagram.
BUSINESS
Wall Street update: Nasdaq zooms 3% as Meta sees biggest surge since 2013
Meta rallied 25 percent after sales beat expectations and the company said it will become leaner and more decisive.
BUSINESS
Credit Suisse’s Asia investment banking vice chairman Zeth Hung exits
Zeth Hung, who spent 25 years at Credit Suisse, was most recently vice-chairman of investment banking & capital markets for the region.
BUSINESS
India resilient to stock market blip, says Minister Ashwini Vaishnaw
“India has a very broad spectrum of infrastructure companies,” Ashwini Vaishnaw, the minister for tech and railways, told Bloomberg TV on Thursday. “Whatever blip is there on the stock market is not going to affect the overall economy, I am very sure of that.”
BUSINESS
Sony to promote CFO Hiroki Totoki to President and COO
The Tokyo-based entertainment group is expected to report its biggest operating profit decline in two years in the quarter just ended later on Thursday, as rising component costs and weak consumer sentiment combine to hurt margins.
BUSINESS
Citigroup wealth unit halts margin loans on Adani Securities
The US lender’s move to restrict lending comes after a similar change at Credit Suisse Group AG, as Adani’s beleaguered empire becomes further engulfed in crisis.
BUSINESS
Adani Group has $35 million in bond coupons due this week
Adani Ports & Special Economic Zone Ltd. must pay a combined $24.7 million in interest on three bonds Thursday. Next up is Adani Transmission Ltd. with a $10 million coupon payment Friday.
BUSINESS
Royal family to be ditched from Australia’s five-dollar note
The new note will replace the portrait of the late Queen Elizabeth II with a tribute to the First Australians, rather than an image of King Charles III, the Reserve Bank said in a statement Thursday. The decision followed a consultation with the Federal government.
