BUSINESS
OPEC cuts oil demand outlook as it starts to curb production
Due to a weaker economic backdrop and China’s strict anti-Covid measures, the Organization of Petroleum Exporting Countries lowered estimates for the amount of crude it will need to pump this quarter by 520,000 barrels a day, following a similar-sized downgrade a month ago.
BUSINESS
The six biggest mistakes on your CV
Recruiters scan CVs for about seven seconds, according to James Reed, chairman of the recruitment service provider The Reed Group. Brief glances could decide who gets cut from the applicant list, and spelling mistakes are the easiest way to start trimming.
BUSINESS
Crypto exchange AAX halts withdrawals, says FTX put ‘immense pressure’ on industry
AAX is a relatively small crypto exchange: data from CoinGecko showed that trading volumes over the last month peaked at around $2 billion.
BUSINESS
Gulf KFC operator seeks up to $1.8 billion from Saudi, UAE IPO
The Public Investment Fund and Alabbar are selling 2.53 billion shares in Riyadh and Abu Dhabi in Americana Restaurants International Plc at 2.55 riyals ($0.68) to 2.68 riyals each, according to a statement on Monday. It’s set to be the biggest Saudi IPO this year and will value Americana at as much as $6 billion.
BUSINESS
Elon Musk says he’s working morning to night, seven days a week
The newly installed “Chief Twit” of Twitter Inc. beamed into the conference via video link. The comments come as Musk brings his unique brand of management to the social-media platform, firing close to 3,700 people just over a week ago.
BUSINESS
China plans property rescue as Xi jinping surprises with policy shifts
Financial regulators issued a 16-point plan to boost the real estate market on Friday, with measures that range from addressing developers’ liquidity crisis to loosening down-payment requirements for homebuyers, according to people familiar with the matter.
BUSINESS
India wants ‘phase down’ on all fossil fuels at COP27
Indian negotiators formally called on the Egyptian Presidency of climate talks for the expanded language to be included in the cover text, a political statement of how countries will seek to tackle the climate crisis, according to people familiar with the matter.
ENVIRONMENT
COP27 climate summit: India wants ‘phase down’ on all fossil fuels
Indian negotiators formally called on the Egyptian Presidency of climate talks for the expanded language to be included in the cover text
COMPANIES
Here’s why Elon Musk’s talk of a Twitter bankruptcy is premature
It may be nothing more than a scare tactic as he moves aggressively to reshape the company by slashing staff, shaking up its operations and doing away with Silicon Valley perks
BUSINESS
The $14 billion feud that splintered the Hinduja family
Britain’s richest family oversaw an Anglo-Indian business empire that’s lasted over a century from their shared family homes in London, Mumbai and Geneva.
BUSINESS
Billionaire Hinduja brothers call truce on bitter family feud
The brothers agreed to halt reams of litigation across Europe, ending, for now, a feud that was tearing the once tightly knit British-Indian group apart.
BUSINESS
Trapped by markets and voters, Rishi Sunak faces ‘impossible’ budget
Rishi Sunak and Chancellor of the Exchequer Jeremy Hunt are currently making final decisions on the more than £50 billion ($58.3 billion) of economic retrenchment to be announced on Nov. 17.
BUSINESS
Deforestation surges in world’s no. 2 tropical forest
The pace of deforestation in the Congo Basin increased 5% in 2021 overall, the Amsterdam-based climate advisory said.
BUSINESS
Billionaire Gautam Adani challenges China in show of support for PM Modi
With Sri Lanka in the throes of its worst economic crisis since its independence from Britain in 1948, India is reengaging and attempting to tilt the balance in a strategic tussle with China on the island, a pivotal battleground because it lies on key global shipping lanes and plays into New Delhi’s fear of encirclement from its Asian rival.
BUSINESS
Nasdaq 100 adds $700 billion in value as US inflation eases
Inflation cooled in October by more than what was forecast, suggesting that one of the biggest headwinds facing tech could be easing. It could also give the Fed room to slow its pace of interest-rate hikes, easing another strain on the multiple of so-called growth stocks.
BUSINESS
Brookfield has $125 billion to invest as CEO sees recession
Brookfield has launched fundraising for an opportunistic credit fund that it expects to be more than $16 billion, according to a letter to shareholders from Chief Executive Officer Bruce Flatt on Thursday.
BUSINESS
Musk starts assembling new cadre of leaders inside Twitter
The most visible among the new guard has been Yoel Roth, a Twitter veteran who reports to Musk and is now running all of the company’s Trust and Safety efforts.
BUSINESS
Apple limits iPhone file-sharing tool used for protests in China
The previous options didn’t limit the time involved. Users could choose to get files from everyone, no one or just their contacts
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.”
