BUSINESS
Asian stocks track US drop on tech, inflation risk: Markets wrap
China maintained its tight grip on the yuan with its daily reference rate. The People’s Bank of China set the so-called fixing at 7.1887 per dollar, 1,528 pips stronger than the average estimate in a Bloomberg survey of traders and analysts.
BUSINESS
New RBI chief faces calls to unshackle rupee amid surging dollar
While effective in dampening fluctuations, critics say Das’s tight grip on the rupee effectively fixed the currency to a crawling peg against the dollar.
TECHNOLOGY
Nvidia unveils gaming chips, desktop PC to protect AI lead
TECHNOLOGY
AI startup funding hit a record $97 billion in 2024 in US
The AI-focused deals represent an increasing share of all startup investment, according to new PitchBook data released Tuesday
BUSINESS
Husk Power, world’s biggest mini-grid firm, eyes $400 million fund raise and IPO
Husk, founded in 2008 in Bihar, is taking advantage of a drive by governments and multilateral lenders such as the World Bank to bring electricity in coming years to the more than 600 million Africans who lack access to it.
BUSINESS
NTPC’s clean energy arm to build $21 billion green hydrogen hub
NTPC Green Energy Ltd. is developing the project at Pudimadaka, near the city of Visakhapatnam in Andhra Pradesh
WORLD
Tencent shares decline after US adds company to Chinese military blacklist
The blacklisting threatens to further escalate tensions between the world’s two largest economies
MARKETS
Asian stocks gain, dollar pares losses after slump
Equities rose in Japan, South Korea and Australia, with futures pointing to a soft open in Hong Kong
BUSINESS
Regulator CEA asks states to seek private capital for $107 billion transmission grid expansion
States should monetize their transmission assets by transferring ownership to businesses for a period of time, and re-invest the proceeds into new projects, according to a report by the Central Electricity Authority.
BUSINESS
RBI should allow more Rupee volatility, says former RBI Deputy Governor Viral Acharya
Acharya’s comments come at a time when markets await clarity on whether new RBI Governor Sanjay Malhotra would continue with his predecessor’s approach of intervening firmly in the currency market.
BUSINESS
Indian bond index inflows may lag estimate, says Morgan Stanley
Fully accessible route bonds — those offered to global investors without limits — will fall short of an initial $25-30 billion passive flow that was estimated to come in after their inclusion to the JPMorgan Government Bond Index-Emerging Markets, said a note.
WORLD
Nippon Steel slides after Biden blocks US Steel takeover
Biden had already expressed his opposition to the deal, but he announced his decision formally on Friday
MARKETS
Asian currencies hit two-decade low, stocks mixed
Japan’s Topix dropped in its first session after a multiday holiday, though shares in Korea and Australia gained. US contracts also slipped
WORLD
Credit Suisse links to Nazi-era accounts expand in investigation
The probe also exposed evidence showing a “significant connection” between Credit Suisse and so-called ratlines —networks that helped Nazi war criminals and collaborators escape after World War II
WORLD
Biden to ban new oil drilling over vast stretch of US Atlantic, Pacific waters
The move represents a sweeping effort to permanently protect coastal waters — and communities that depend on them — from fossil fuel development and the risk of oil spills
WORLD
UK PM Starmer seeks to stifle critics including Musk in pivotal year
WORLD
‘Stay Cool’: Chancellor Scholz’s recipe against Elon Musk’s attacks
The world’s richest person has repeatedly praised the anti-immigrant Alternative for Germany party, known by its German acronym AfD
WORLD
Vegas bomber suffered from PTSD, isn’t terror suspect: FBI
Matthew Livelsberger, 37, died by suicide after shooting himself and detonating explosives inside a rented Tesla Cybertruck, authorities said on Friday
WORLD
Biden to block Nippon Steel takeover of US Steel today
The companies have signaled that they planned to pursue legal action if Biden formally blocked the deal
WORLD
China to subsidize smartphone purchases in bid to lift spending
A national trade-in program that currently applies to home appliances and cars will broaden this year to include personal devices like phones, tablets and smartwatches
WORLD
China plans export curbs on battery parts, mineral technology
Beijing proposes including battery cathode material preparation technology to its catalog of applications that are subject to export bans or restrictions
MARKETS
Asian stocks gain, bucking a rocky start to 2025
Shares in Australia and South Korea edged higher, as did US equity futures, after the S&P 500 and Nasdaq 100 both fell on Thursday.
WORLD
Elon Musk made $112 million mystery gift in final days of 2024
The gift, worth almost $112 million, was part of the billionaire’s 'year-end tax planning,' and went to 'certain charities,' according to a filing Tuesday.
WORLD
Tesla’s annual EV sales drop for first time in over a decade
Tesla faced a series of setbacks earlier in the year, including an arson attack at its Berlin factory, shipping diversions and an industry-wide slowdown in EV sales.
