ECONOMY
Tomorrow's US inflation data may influence rates more than today's CPI figure
While an expected fall in CPI will likely be welcomed by investors, Friday’s University of Michigan 5-10 year inflation expectations will resonate with Federal Reserve officials fearful of price rises becoming entrenched
BUSINESS
Sequoia Capital writes down entire value of its FTX stake
The VC firm put in about $214 million last year in FTX’s international and US businesses, Sequoia told its investors Wednesday. The writedown includes holdings of both FTX.com and FTX.us, said a spokeswoman for the firm.
CRYPTOCURRENCY
Crypto markets face ‘cascade’ of margin calls from FTX crisis, says JPMorgan team
There are fears that the potential bankruptcy of FTX.com could lead to contagion that takes down other crypto outfits
BUSINESS
Global supply chains set for overhaul next year, HSBC poll shows
Just 11 percent of respondents in the HSBC Holdings Plc survey said transforming their supply chain wasn’t a priority next year, but 42 percent plan to do so and almost 47 percent see it as a priority at some stage in the future
BUSINESS
Singapore’s Sembcorp accused of greenwashing in India coal-powered asset sale
In order to reduce its official carbon footprint, Sembcorp Industries Ltd. sold two coal-fired power plants to an Omani group for $1.5 billion.
BUSINESS
India plans unity theme for G-20 as PM Modi balances global powers
“India’s G-20 presidency is coming at a time of crisis and chaos in the world,” Modi said on Tuesday, adding that India’s logo for the summit would be the lotus as a symbol of hope. “No matter how adverse the circumstances, the lotus still blooms.”
BUSINESS
OPEC+ cuts that steadied market now bring risk of $100 crude
For about a month, the group’s decision appeared to fulfill its stated aim of stabilizing oil markets, with crude prices steadying against a deteriorating backdrop for fuel demand.
BUSINESS
Coinbase CEO Brian Armstrong says trading activity rising, no plan to buy FTX US
The liquidity crunch that prompted Binance’s tentative agreement with FTX wouldn’t happen at Coinbase because the company doesn’t engage in “risky behaviors,” Chief Executive Officer Brian Armstrong said in a Bloomberg Television interview.
BUSINESS
Tesla loses valuation race to Berkshire as growth stocks sputter
The Elon Musk-led electric-vehicle maker’s shares closed with a market valuation of $604 billion Tuesday, versus nearly $645 billion for Warren Buffett’s conglomerate, underscoring this year’s great economic upheaval as former high-flying technology stocks plunge anew while industrial companies outperform.
BUSINESS
Donald Trump deepens attacks on Ron DeSantis as he inches toward 2024 comeback bid
The threat is a familiar move from Trump’s playbook to thwart potential opponents. It’s also the latest sign that the former president views DeSantis as his chief rival in a potential 2024 GOP presidential primary field.
BUSINESS
India considers scrapping early monthly release of trade data
The government plans to instead release monthly exports and imports data once a month, the people said. The move is expected to provide a clearer picture of the nation’s trade and comes amid a delay in collecting data from special economic zones and ports, the people said.
BUSINESS
How Qatar is handling a year’s worth of boozing in four weeks
The signs started appearing early this year: At the Qatar Distribution Company — the only alcohol retailer in the conservative Muslim country — a massive poster with Budweiser branding featuring Lionel Messi was plastered across the entrance.
BUSINESS
Macquarie starts $2 billion global battery business in electrification race
Eku Energy, created by the infrastructure giant’s Green Investment Group, has a three gigawatt-hour pipeline of capital expenditure worth $2 billion, and is set to complete its first project in Japan in the next few months.
BUSINESS
Twitter now asks some fired workers to please come back
Some of those who are being asked to return were laid off by mistake, according to two people familiar with the moves.
BUSINESS
Meta to start laying off thousands of staff this week, WSJ says
The job cuts could come as early as Wednesday, the newspaper said. The company has already told employees to cancel non-essential travel from this week, according to the report.
BUSINESS
Thailand to beat tourism target as Indians, Malaysians lead rush
Tourist arrivals totaled 7.56 million as of Oct. 30, with at least 1.5 million visitors a month expected during the remainder of the year, government spokesman Anucha Burapachaisri said in a statement Saturday.
WORLD
Methane cloud spotted by satellite near India’s waste site
The detection highlights how piles of garbage — which generate the potent greenhouse gas when organic material like food scraps break down in the absence of oxygen — are triggering some of the world’s strongest and most persistent methane emissions.
BUSINESS
Apple cuts outlook for iPhone shipments on China lockdowns
The company continues to see strong demand for the iPhone 14 Pro and iPhone 14 Pro Max models but the lockdowns mean “customers will experience longer wait times to receive their new products,” Apple said in a statement Sunday.
ENVIRONMENT
Global warming turned 2022 into a “chronicle of climate chaos”
Global temperatures in 2022 are likely to end about 1.15C above the average in pre-industrial times, making it the fifth or sixth-hottest year on record.
TRENDS
12 best bars in Melbourne right now
From classic cocktails to drinks that come with their own QR code.
INDIA
10 things to watch for at COP27 in Egypt
Deadly extreme weather events have struck almost every corner of the planet in recent months, reminding leaders and citizens of the need to act fast.
AUTOMOBILE
Tesla’s former India policy chief to join e-scooter startup Ather Energy
Manuj Khurana, who quit his post as Tesla’s local head of policy and business development in June, will start next week at the firm based in the southern technology hub of Bangalore, a person with knowledge of the matter told Bloomberg News.
BUSINESS
Tiger global joins China exodus as market swings turn extreme
Chase Coleman’s Tiger Global Management has become the latest in the string of big-name money managers to divest or reduce exposure to China, taking the country’s share of its portfolio to the mid-single digits last month from the mid-teens earlier in the year.
BUSINESS
Apple pause, Lyft layoffs herald new phase of tech austerity
Amazon.com Inc. said Thursday that it would pause adding new corporate workers, citing an “uncertain” economy and its hiring boom in recent years. Lyft Inc., the ride-hailing company, is going further: It will eliminate 13% of staff, or around 683 people.
