BUSINESS
After FTX, crypto exchanges struggle to convince customers they’re safe
In a bid to retain investors Crypto firms are disclosing their assets, however investors remain jittery after FTX's crash.
BUSINESS
India, EU standoff over clearing houses to affect BNP to HSBC
The potential damage stems from the European Securities and Markets Authority’s move to withdraw recognition -- effective May 2023 -- to six Indian central counterparties after the Reserve Bank of India resisted ESMA’s request to be allowed to join the RBI in overseeing Indian transactions.
BUSINESS
Masayoshi Son now owes SoftBank $4.7 billion on side deals
Over the years, the Japanese billionaire’s controversial personal stakes in SoftBank’s investments drew fire from investors, who pointed to the mix of personal and company interests as a corporate governance concern.
BUSINESS
Tata Group plans to merge carriers under Air India, scrap Vistara brand
India’s largest conglomerate is considering scrapping the Vistara brand, which is Singapore Airlines Ltd’s local affiliate in the South Asian nation; Singapore Airlines is evaluating the size of the stake it should take in the combined entity.
BUSINESS
COP27 draft leaves out pledge to phase down all fossil fuels
The Egyptian presidency published the first draft of its so-called “cover decision” and largely kept last year’s pledge made at Glasgow to “accelerate measures towards the phase down of unabated coal power” and phase out fossil fuel subsidies.
BUSINESS
China asks banks to report on liquidity after sudden bond slump
The unscheduled regulatory queries coincided with the biggest slump in China’s short-term government debt since mid-2020.
BUSINESS
Investment giants with $2.3 trillion bet on more market turmoil
In interviews with Bloomberg News, seven institutional investors with about $2.3 trillion in combined assets under management from Beijing to Toronto and Melbourne outlined investment plans heading into what’s likely to be a challenging 2023.
BUSINESS
How the 2022 World Cup rebuilt a market for dodgy carbon credits
World Cup organizers have pledged to erase the event’s negative environmental impact. They plan to make the event “carbon neutral” by buying offsets — paying, in theory, for carbon to be removed or reduced from the Earth’s atmosphere somewhere else.
BUSINESS
Subsidy bill may top $67 billion in risk to PM Modi’s budget goals
Subsidies on food, fertilizer and fuel will cost at least 5.4 trillion rupees ($67 billion) in the fiscal year ending March 2023, against the budget estimate of 3.2 trillion rupees, the people said, asking not to be identified as the discussions are private.
BUSINESS
‘The reset has arrived’ for the technology industry, VCs warn
Venture capitalist GGV Capital warns that money is harder to come by for startups and valuations have sharply dropped. For General Atlantic, the top of their list of target markets now includes Southeast Asia and India.
BUSINESS
World Cup stock bets include shorting the losers
For the best results, investors would need to wait until the elimination stage of the World Cup, starting December 3.
BUSINESS
Vast majority of retail investors in Bitcoin lost money, BIS Says
Data spanning 95 countries from 2015 to 2022 indicates the vast majority of app downloads occurred when Bitcoin’s price was above $20,000, the working paper from the Basel, Switzerland-based BIS says.
BUSINESS
Apple prepares to get made-in-US chips in pivot from Asia
Chief Executive Officer Tim Cook made the disclosure during an internal meeting in Germany with local engineering and retail employees as part of a recent tour of Europe, according to remarks reviewed by Bloomberg News.
BUSINESS
Bankers push to end unusual delisting rules amid deal boom
They hope the Securities and Exchange Board of India, under new chief executive Madhabi Puri Buch, will amend the rules after the regulator made changes to a framework in 2021 that made it easier to delist a company if there was a change in control.
BUSINESS
Sam Bankman-Fried facing possible trip to US for questioning
The conversations between law-enforcement officials in the two countries have intensified in recent days as they probe his role in the implosion of cryptocurrency firm FTX.
BUSINESS
EKI Energy’s 10,000% rally plunges on shaky green claims
Soon after the IPO, the company’s shares shot up 10,000%, taking the valuation of the company from about $10 million to $1 billion.
WORLD
Joe Biden says unlikely rocket that hit Poland was fired from Russia
"It is unlikely... that it was fired from Russia," Biden told reporters in Bali, where he has been attending a G20 summit, citing the missile's trajectory.
BUSINESS
Paytm in focus as pre-IPO investor lock-in expires
This week, the lock-up period for the company’s stock will expire, freeing investors to sell shares that haven’t yet been allowed onto the market.
BUSINESS
Kotak Mahindra Bank rules out CEO Uday Kotak’s son as boss
Jay Kotak, son of founder Uday Kotak who has led the business since establishing it in 1985, is not a contender for the role, according to KVS Manian, the firm’s whole-time director.
BUSINESS
Government considers plan to reduce short-term borrowing as yields surge
The government may avoid incremental borrowing via the bills and only borrow to meet its previous repayment needs in the next quarter, the people, asking not to be identified as they aren’t authorized to speak to the media, said. Another option is to cancel sales if the yields demanded by investors are too high, they said.
BUSINESS
Six of the top places to eat in Qatar for the 2022 FIFA world cup
In addition, celebrity chefs Alain Ducasse, Jean-Georges Vongerichten and the Peruvian ceviche expert Gastón Acurio have outposts in Qatar.
BUSINESS
FIFA hopes world cup fans want to buy metaverse merchandise
FIFA’s virtual universe is part of the soccer organization’s penchant for embracing the latest tech buzzword. In 2010, some matches were broadcast in 3-D. In 2018, it offered a virtual-reality experience. Now it’s the metaverse.
BUSINESS
Qatar world cup set to defy controversy and hit revenue high
The one-month tournament, which begins on Nov. 20, is on course to top the roughly $5.4 billion in revenue that the 2018 World Cup in Russia generated for football’s governing body, a person familiar with the matter said, asking not to be identified discussing confidential information.
BUSINESS
Nestle still bullish on plant protein despite dip in demand
Like the initial boom in craft beer, many investors piled into the faux meat market based on overly optimistic expectations of consumer uptake, Chief Technology Officer Stefan Palzer said in an interview Monday.
