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.
BUSINESS
Musk commences Twitter job cuts as advertisers hit pause
Billionaire Elon Musk plans to eliminate half of Twitter’s workforce, making good on plans to slash costs at the social media platform he acquired for $44 billion last month
TECHNOLOGY
Elon Musk Aims to Start Charging for Twitter Verification Next Week
The badges will be part of an $8-a-month subscription that could go live as early as Monday, according to people familiar with the plans.
BUSINESS
ReNew power plans Green Hydrogen hubs in India, overseas
“Green hydrogen is going to be a more global business, a tradable business, so we are looking at opportunities for setting up green hydrogen hubs both in India as well as overseas,” Chairman Sumant Sinha said in an interview with Bloomberg Television.
BUSINESS
Jeff Bezos sued by ex-housekeeper over racial bias, long hours
Mercedes Wedaa, who joined the billionaire Amazon.com Inc. founder’s staff in September 2019, sometimes worked 10 to 14 hours a day and supervised a team of five to six housekeepers, according to her complaint filed Tuesday in Seattle state court.
BUSINESS
Bankers wielding megaphones tout for deposits on Indian streets
Rising loan demand from companies and consumers has pushed annual credit growth to a decade high of 17.95% as of October, compared to a five-year average of 9.7%, data provided by the Reserve Bank of India shows.
BUSINESS
IPhone supply chain takes hit from Xi Jinping’s Covid-zero enforcers
The abrupt move is expected to further disrupt a factory already grappling with an outcry over an on-site coronavirus outbreak, worker exodus and enforced quarantine.
BUSINESS
Elon Musk plans to eliminate half of Twitter jobs to cut costs
Musk also intends to reverse the company’s existing work-from-anywhere policy, asking remaining employees to report to offices -- though some exceptions could be made
BUSINESS
3D-Printed Coral reef sprouts hope for marine life near Hong Kong
Much of this activity in Hoi Ha Wan Marine Park gravitates around corals that are thriving on an artificial reef made of 3D-printed terracotta tiles, installed two years ago by researchers at the University of Hong Kong (HKU).
BUSINESS
Tiger global’s venture Capital gets loans from Apollo global
Affiliates of Apollo’s Athene insurance business made at least $330 million of loans secured by assets in Tiger Global venture funds, primarily their stakes in private firms, during the first six months of this year, state regulatory filings show.
BUSINESS
Billionaire Harvard alum aims to make office work more efficient
The billionaire Harvard alum’s Soroco works with global corporations to streamline office tasks, using techniques similar to Toyota Motor Corp.’s pioneering efforts decades ago to eliminate waste in manufacturing.
BUSINESS
Amazon closes below $1 trillion in market value for first time since 2020
The stock fell 5.5% to end at $96.79, representing a market capitalization of $987.4 billion. Shares closed at their lowest level since April 2020, and have dropped 42% this year. At its Nov. 18 peak, Amazon boasted a market cap of nearly $1.9 trillion.
BUSINESS
It ruined everything: 'Buy Now, Pay Later' drives Gen Z into debt
The promise of interest-free payments made BNPL products particularly attractive to credit card-wary Gen Z, who in many cases grew up watching loved ones struggle during the financial crisis
ECONOMY
Inflation in UK shops rises to highest level on record
Consumers are trying various methods to save money on their weekly shop, visiting rival retailers and choosing own-label brands as well as buying more wonky vegetables, frozen food and canned goods
BUSINESS
Tata Group to add up to 45,000 workers at iPhone parts plant: report
The plant in the industrial town of Hosur, in Tamil Nadu state, will hire as many as 45,000 women workers within 18 to 24 months as it sets up new production lines, people familiar with the matter said. The factory, which produces iPhone housings or the cases which hold the device together, currently employs about 10,000 workers, most of them women.
BUSINESS
ICICI Pru Life is buying more long-dated government debt
In anticipating yields are close to their peak, Arun Srinivasan of ICICI Pru LIfe is betting the RBI could possibly revive its Operation Twist program of 2019, when it sold shorter-dated debt while buying longer maturities to flatten the curve.
BUSINESS
Government plans to cut sugar export quota by almost 20% this year
The world’s second-biggest producer may permit sugar mills to ship 9 million tons, lower than the 11.2 million quota for 2021-22, said the people who asked not to be named as they’re not authorized to speak publicly.
BUSINESS
China’s property crash sends billionaire founders heading to exits
The nation’s worsening credit crisis has led to defaults, failure to deliver homes on time and an unrelenting market selloff.
WORLD
Sunak, Hunt say ‘Inevitable’ all Britons will pay more tax
Sunak met with Chancellor of the Exchequer Jeremy Hunt on Monday to discuss tax and spending plans ahead of an economic statement planned for November 17.
BUSINESS
Musk’s twitter investors include Saudi Prince, Dorsey and Qatar
The Bloomberg Billionaires Index estimates the value of the stakes rolled over from Twitter stock declined by about 40% since Musk made his offer in April, based on a drop in an index of social-media company shares.
