BUSINESS
BYD extends Tesla-beating sales streak to four straight quarters
BYD managed to outsell Tesla on a quarterly basis even despite registering its first total sales decline in 18 months in September
CURRENCY
RBI bid to globalize rupee to test India’s market depth
The path to internationalize the rupee is fraught with challenges, according to experts
BUSINESS
Tata Capital’s $1.7 billion IPO attracts Counterpoint, White Oak
The listing is set to be the country’s largest since Hyundai Motor India Ltd.’s $3.3 billion offering last year, and comes as the nation heads into what could be a record month for IPOs.
BUSINESS
India data-center firm to file for $500 million IPO in two weeks
India’s demand for data centers is set to more than double over the next three years and an investment of about 900 billion rupees ($10.1 billion) will be needed to meet the expansion, according to rating company ICRA Ltd.
BUSINESS
China eyes Arctic shortcut as top container lines stay away
Arctic waters can be hazardous and, for most of the year, require ice-breakers to accompany ships — even if climate change is shrinking the extent of sea ice
BUSINESS
Japan’s retailers facing beer shortage after Asahi cyberattack
The disruption underscores how vulnerable Japanese companies and their intricate logistical and digital supply chains are to a single cyberattack that can ripple from factory floors to convenience store shelves
WORLD
Apple pulls ICE-tracking apps on Justice Department’s urging
Before it was taken down, the tracking tool allowed users to anonymously report the location of officials who were carrying out immigration raids
BUSINESS
Gold set for seventh weekly gain as US shutdown clouds rate path
The torrid pace of the advance has left gold vulnerable to pullbacks, with technical indicators showing it’s been trading in overbought territory for the past month
BUSINESS
Chinese firm backs Saudi Arabia’s $1 billion culture push
Tourism, which makes up about 5% of the domestic economy, is expected to be a major growth engine as Saudi Arabia seeks to attract more foreign visitors
BUSINESS
OpenAI valuation soars to $500 billion, topping Musk’s SpaceX
Current and former OpenAI employees sold about $6.6 billion of stock to investors including Thrive Capital, SoftBank Group Corp. among others.
BUSINESS
Hackers extort executives after claiming Oracle apps breach
A group of hackers claimed to have breached Oracle’s E-Business Suite, which runs core operations including financial, supply chain and customer relationship management
BUSINESS
European Union to ramp up tariffs on steel imports, mirroring US duties
Steel imports beyond those quotas will be subject to the new tariff rate, which will mirror the policy of other jurisdictions such as the US, which imposes a 50% duty on imported steel
BUSINESS
Gold holds five-day rally on Fed cut bets, US shutdown concerns
Bullion traded near $3,860 an ounce, about $35 below a peak set on Wednesday, with the suspension in federal operations threatening to create a blackout in crucial economic figures that the Fed needs to make rate decisions
BUSINESS
Asian shares gain, tech rallies on Samsung-OpenAI
Treasuries held their gains, spurred by private payrolls data that reinforced bets the Federal Reserve will lower interest rates this month.
BUSINESS
US Govt shutdown: Impact on TSA, social security, courts
Congress failed to approve new spending before the fiscal year begins Wednesday, triggering the first government shutdown since 2018-2019
BUSINESS
US manufacturing activity contracts for seventh straight month
The group’s orders index slid 2.5 points to 48.9, slipping back into contraction territory after expanding a month earlier for the first time since January.
BUSINESS
London drops out of top 20 IPO markets after falling behind Mexico
As recently as 2013, UK IPOs accounted for more than half of the European fundraising total. That share has dwindled to 3% this year, according to data compiled by Bloomberg.
BUSINESS
Indian shares to post mild gains in fourth quarter, shows survey
The informal survey, conducted last week, signals a shift in investor view on India. A separate survey showed a recent momentum in Chinese stocks may cool, with the CSI 300 Index likely to post a modest 1.2% rise by the year end.
BUSINESS
Trump trade chief Greer expects US to ink more deals during Asia trip
t was unclear if Greer was referring to previous deals or new pacts in his remarks. He added that the US has already announced some high-level details of deals he expects Trump to announce.
BUSINESS
Pfizer gets three-year reprieve from Trump pharma tariffs
Pfizer will sell some drugs at a 50% average discount on a direct-to-consumer website called TrumpRx, an initiative intended to allow Americans to pay for prescriptions at discounted rates negotiated by the government.
INDIA
India’s best monsoon in five years fuels hopes for good harvests
Rainfall from June to September, which irrigates about half of the country’s farmland and is important for the next planting season, was 937.2 millimeters.
BUSINESS
RBI rate cut back in play after tariffs
Economists see scope for the repo rate to drop as low as 5% in this cycle
BUSINESS
Zijin Gold soars in HK debut after world’s top IPO since May
The shares climbed as much as 66% to HK$119 on Tuesday.
BUSINESS
China factory activity improves but slump extends to six months
The official manufacturing purchasing managers’ index was 49.8, versus 49.4 in August, the National Bureau of Statistics said Tuesday
