BUSINESS
Ambani family buys 49% stake in London cricket team Oval Invincibles
The Ambani family, which also own the Mumbai Indians franchise in IPL, will take a 49% holding in Oval Invincibles, according to a person familiar with the matter.
WORLD
Trump raised millions from crypto firms for his inauguration
Coinbase Inc., Crypto.com, Galaxy Digital, Paradigm Operations and Payward Inc., better known as Kraken, each gave $1 million. Robinhood Markets, Inc., which offers a trading platform for digital currencies, contributed $2 million, according to the reports.
BUSINESS
Asian equities fall as Samsung, SK Hynix weigh
A gauge of Asian shares snapped a two-day gain, with Korean chipmakers SK Hynix Inc. and Samsung Electronics Co. weighing as the nation’s markets reopened after the Lunar New Year holidays.
WORLD
OpenAI’s Altman urges US to support AI investment after DeepSeek concerns
Altman said the rise of DeepSeek shows “it’s a really good thing” to push ahead with the $100 billion joint infrastructure venture
WORLD
Wall Street rises on signs US economy is doing just fine
Big tech led gains on Thursday, with Tesla Inc. and Meta Platforms Inc. climbing on upbeat outlooks
WORLD
US economy ends 2024 with 2.3% GDP growth on consumer resilience
Consumer spending, which comprises the largest share of economic activity, advanced at a 4.2% pace — the first time since late 2021 that outlays have exceeded 3% in consecutive quarters
TECHNOLOGY
Apple’s flagging AI hopes get revival from DeepSeek’s emergence
A proliferation of AI apps and services could be what makes consumers finally trade up for phones with AI capabilities
WORLD
Climate tech funding fell 40% in 2024 as investors rushed to AI
There were 1,200 deals for a total of nearly $51 billion last year, compared to almost $84 billion in 2023, according to new BloombergNEF research
BUSINESS
Rupee pain starts to show as InterGlobe's forex losses rise threefold
InterGlobe Aviation saw its foreign-exchange losses jump threefold to Rs 1,460 crore in the December quarter. Carmaker Maruti Suzuki also cited currency variations as a negative for margins.
BUSINESS
Asia stocks rise after Fed meeting, tech earnings
Many of the region’s biggest equity markets — including those in Hong Kong, mainland China and South Korea — are closed for the Lunar New Year holiday.
WORLD
Meta gains after Zuckerberg predicts ‘really big year’ in AI
Zuckerberg has been using AI technology to transform how Meta’s business works, from the way advertising is targeted to the order of content that appears in social networks, squeezing more value out of the social media business and its 3.35 billion daily users.
BUSINESS
Byju’s executive, business partner found in contempt of US court
Byju’s manager Vinay Ravindra and company ally Rajendran Vellapalath failed to answer questions about their roles in stripping software, cash and other assets from Byju’s US businesses that are under court supervision, a federal judge in Delaware found.
BUSINESS
Jerome Powell says Fed doesn’t need to be in a hurry to lower rates
The Federal Open Market Committee voted unanimously to keep the federal funds rate in a range of 4.25%-4.5%
WORLD
US merchandise-trade deficit widens to record ahead of Trump
The shortfall in goods expanded 18% to $122.1 billion, Commerce Department data showed Wednesday.
WORLD
US stocks fall on Fed day with eyes on tech earnings
The S&P 500 fell ahead of results from Meta Platforms Inc., Microsoft Corp. and Tesla Inc
BUSINESS
DeepSeek whammy shifts focus to Big Tech trio’s earnings reports
The US tech behemoths are under increasing scrutiny for their spending on AI and the meager returns they’re generating from the technology
TECHNOLOGY
Global firms’ office leasing in India hit record high: JLL report
The trend underscores India’s robust office market for multinational companies, and its growing status as “office to the world,” the JLL report said
BUSINESS
India's IPO boom defying stock market’s historical slump
The 23 stocks that debuted in India so far this year are up by an average of 15% from their offer prices, according to data compiled by Bloomberg. That compares with a more than 2% drop in the benchmark NSE Nifty 50 Index this year.
WORLD
Microsoft probing if DeepSeek-linked group improperly obtained OpenAI data
DeepSeek earlier this month released a new open-source artificial intelligence model called R1 that can mimic the way humans reason, upending a market dominated by OpenAI and US rivals such as Google and Meta Platforms Inc.
WORLD
Trump offers buyouts to Federal employees resisting in-person work
Federal workers who want to leave are instructed to simply reply to the memo from their .gov government email account. “Type the word ‘Resign’ into the body of this reply email.
WORLD
DeepSeek shows China playbook for even bigger US shock on chips
Xi has poured billions of dollars into making a breakthrough in advanced semiconductors, part of his wider Made in China 2025 push to make the nation a leader in emerging technologies.
BUSINESS
US markets: Stock buyers step in to boost tech after AI jolt
Equities rebounded, with the S&P 500 up about 1% and the Nasdaq 100 rising 1.6%.
BUSINESS
Starbucks turnaround bid shows progress with sales slump easing
Earnings per share were slightly higher than the average estimate, while transactions in North America, the chain’s largest market, declined in line with expectations.
BUSINESS
Asian stocks advance on tech rebound ahead of Fed rate decision
Japanese and Australian shares rose. Most other major markets in the region are closed for Lunar New Year holidays.
