WORLD
S&P 500 hit in worst day since ‘post-Fed tantrum’
A 1.5% slide in the S&P 500 Friday wiped out its advance in the nascent year
BUSINESS
Rupee may fall past 90 per dollar as RBI ditches quasi-peg, research says
A bigger depreciation of around 10%, taking the rupee to 95 is “not out of the question,” analysts Udith Sikand and Tom Miller wrote in a note.
WORLD
Prada could be weighing purchase of Versace: Report
The luxury house is working with adviser Citi to decide whether to pursue a deal, Sole said, citing market speculation
WORLD
'If there is a better deal': Greenland eyes benefits in Trump's proposal amid push for independence
Greenland’s new international prominence is helping drive its independence movement, which has grown alongside resentment toward Denmark
BUSINESS
Vedanta seeks $450 million to repay top-performing junk bonds
First Abu Dhabi Bank PJSC, Barclays Plc, Mashreqbank PSC and Standard Chartered Plc are among the lenders in discussion with the borrower to provide the loan
CURRENCY
Options pricing suggests rupee is likely to weaken further
There’s a nearly 60% likelihood of the rupee falling to 87 per dollar, compared with just an 9% chance of it recovering to 84 by the end of March
BUSINESS
Tata Capital eyes first dollar bond amid India shadow bank rush
The financial services unit of the Tata Group, the conglomerate spanning industries from coffee to cars, is planning to issue a benchmark-sized note with a 3.5-year maturity
INDIA
India, Indonesia set for travel ‘bonanza’ as middle classes grow
Asia has seen a rather slow post-pandemic recovery compared to other parts of the world, held back by sluggish growth in its biggest economy, China
WORLD
Donald Trump says meeting with Putin is being arranged
Trump has said he wants to bring about an end to Russia’s war on Ukraine even before he takes office for his second presidential term
BUSINESS
PBOC says it will temporarily halt buying of government bonds
China government bond yields rose across the curve following the statement, with five-year rate climbing eight basis points and 10-year rate gaining four basis points to 1.675%. The offshore yuan edged 0.1% higher.
ECONOMY
India infrastructure lender plans up to $4.7 billion fundraising
India needs $2.2 trillion of investment in infrastructure to increase the size of its economy to $7 trillion by 2030, Knight Frank said in a report in December
WORLD
Asian stocks slip with US jobs data in focus
The MSCI EM stock index entered a correction after declining by more than 10% from a high in October, reflecting uncertainty over US policies and China’s growth prospects.
BUSINESS
Wall Street job losses may top 200,000 as AI replaces roles
Citi said in a report in June that AI is likely to displace more jobs across the banking industry than in any other sector. About 54% of jobs across banking have a high potential to be automated, Citi said at the time.
BUSINESS
UK market selloff deepens with Pound falling to lowest in year
The pound dropped to a more than one-year low, stocks fell and gilts extended a fourth day of losses on concern the Labour government will struggle to keep the deficit in check as borrowing costs surge
BUSINESS
Bearish Rupee bets drive hedging costs to highest since 2022
Dollar-rupee three-month offshore forward points, the cost of locking in forward dollar purchases, touched levels last seen in November 2022 on Thursday.
BUSINESS
China’s inflation weakens near zero even after stimulus efforts
Factory deflation extended into a 27th month, though the producer price index recorded a slower drop of 2.3% compared to November.
BUSINESS
Biden to further limit Nvidia AI chip exports in final push
The US wants to curb the sale of AI chips used in data centers on both a country and company basis, with the goal of concentrating AI development in friendly nations and getting businesses around the world to align with American standards, according to people familiar with the matter.
BUSINESS
Avendus seeks $466 million for new private credit fund in India
The launch builds on a growing pipeline of deals that saw India’s private credit market raise close to a record $10 billion last year.
BUSINESS
FOMC minutes show officials eager to slow interest rate cuts
The December move marked a full percentage point in reductions since September. The rapid pace produced a dissenting vote in September and another in December - each a rarity under Chair Jerome Powell.
WORLD
Trump’s Panama, Greenland threats signal unchained second term
Trump hasn't explained how any of these improbable pledges would come to pass, beyond threatening to impose tariffs on nations, including Denmark, that don’t cooperate.
BUSINESS
Sajjan Jindal-run JSW Steel's coal deal frozen amid Mozambique legal row
The loss of the rights has triggered a legal battle between MdR and Mozambique’s government, leaving JSW as an observer. It comes at a critical time for the country, after disputed elections last October triggered demonstrations in which at least 278 people have died.
BUSINESS
Foxconn, Dixon Tech urge Centre to pay pending production subsidies
Foxconn could get as much as Rs 600 crore and Dixon Rs 100 crore if the government releases the funds, the people said, asking not to be identified as the matter isn’t public. The government is reviewing the two requests, the people said.
BUSINESS
Apple’s $1 billion offer not enough to lift Indonesia’s ban
Domestic content rules require Apple to produce part of their smartphones or components onshore, while the AirTag is only an accessory, Minister Agus Gumiwang Kartasasmita said in a briefing on Wednesday.
BUSINESS
China boosts consumer subsidies, vows more funding to aid demand
China has made boosting consumption a higher priority this year as it looks to fight deflation amid subdued household and business confidence.
