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.
BUSINESS
John Paulson seeks to shut down wife’s suit alleging hidden billions
Both Paulsons appeared in a cramped Manhattan courtroom Thursday morning for scheduled arguments on his motion to dismiss her case.
BUSINESS
HDFC Bank targets issuing one million credit cards a month
The bank wants to double the current pace of half a million new credit card issuances every month
ECONOMY
India’s economic activity looks set to slow as resilience wanes
Although a dial measuring so-called animal spirits showed activity was steady for a fifth straight month in November, the needle was just one bad data point away from swinging to the left. Exports, a key growth lever in the past year, was among three of eight metrics that performed poorly
TRENDS
What it’s really like in Qatar for FIFA World Cup 2022
On Sunday, the month-long tournament will conclude with either Argentina’s Lionel Messi hoisting the World Cup trophy for the first time or with France becoming only the third country to win consecutive championships.
BUSINESS
After this year’s IPO slump, bankers are wary of 2023 relief
Just $207 billion have been raised this year from listings — 68% down versus last year — as a surge in flotations in China and the Middle East failed to make up for a frozen US market.
CARS
Tiny Cars, Big Opportunity
They’re significantly smaller and lighter than traditional automobiles, and most are slower. Some are capped at 20 miles per hour; a few can hit 70. But they are more stable and substantial than battery-powered bikes, scooters or mopeds, with three or four wheels and usually some kind of shell to protect occupants from weather
MARKETS
Stock strategists predict Asia market rally after a terrible 2022
Although none of the survey participants see Asian stocks dropping next year, there was a wide dispersion in forecasts — from flat returns to a 15 percent jump — underscoring caution over global recession risks and a rocky China reopening
POLITICS
Imran Khan to dissolve two assemblies on December 23 to push for polls
The government will have to hold elections for the provincial assemblies in 90 days and Khan’s party wants to secure a two-thirds majority in the provinces for five years
