BUSINESS
Motilal Oswal's outperforming fund adds shares of jewellery, electronics makers
Chief Investment Officer Niket Shah said he’s adding shares of companies that offer lower priced non-essential goods, such as jewellery and apparel, on expectations of increased spending.
BUSINESS
Mondelez exploring takeover of US chocolate maker Hershey
Chicago-based Mondelez has made a preliminary approach about a possible combination, said the people, who asked not to be identified because discussions are private
BUSINESS
GIC picks JPMorgan to advise on $5 billion Greenko stake sale
The Singapore state investor is moving ahead with preparations for a potential deal that could involve a full or partial sale of its holding in Greenko, the people said, asking not to be identified because the deliberations are private.
WORLD
Trump says for first time he communicated with Xi after election
Trump’s remarks make clear that contacts at the highest level have resumed between Beijing and Trump’s camp
WORLD
‘Disease X’ outbreak widens as UN sends health team to Congo
Over 400 cases of the unidentified illness — marked by fever, headache, cough, runny nose, and body aches — have been reported since late October
WORLD
Jack Ma pushes AI drive in rare speech since Ant crackdown
Chinese authorities abruptly halted Ant’s IPO in November 2020 and ordered a sweeping overhaul of its business model to comply with financial regulations
BUSINESS
Biosecure Act out of key Defense Bill in win for Chinese biotech
China contends its companies are being unfairly targeted, saying the legislation’s supporters are using a broad definition of national security to suppress foreign businesses and undermine fair competition.
WORLD
Assad’s fall after 24-year rule in Syria risks more Middle East chaos
Assad had managed to endure the popular uprising against him for more than 13 years. But the message from his one-time allies and foes was clear: You’re on your own.
BUSINESS
Saudi Arabia cuts oil prices after OPEC+ delays reviving output
Earlier, OPEC+ — led by Saudi Arabia and Russia — agreed to push back production increases planned for the start of January by another three months, following two previous delays.
WORLD
Asian stocks slip with South Korea, Middle East in focus
Korea’s equity benchmark dropped as much as 1.8% in opening trade, with Australian shares also slipping. Japanese stocks were flat
BUSINESS
Jane Street-Millennium trade secrets fight ends in settlement
The resolution ends a case that had pitted two of Wall Street’s biggest names against each other and raised the question of whether a trading strategy could be protected as a trade secret.
WORLD
Donald Trump says he has no plans to replace Jerome Powell as Fed Chair
Donald Trump also ridiculed the Fed chair’s role as “the greatest job in government,” saying, “You show up to the office once a month, and you say, ‘Let’s see, flip a coin.’”
BUSINESS
US jobs report to show hiring rebounded after storms and strike
Nonfarm payrolls probably rose 220,000 last month after a meagre 12,000 increase in October, according to the median estimate in a Bloomberg survey of economists.
BUSINESS
Singapore’s Temasek forms $7.5 billion private debt platform
The portfolio will consist of direct investments and credit funds, Temasek said in a statement Friday.
BUSINESS
OpenAI adds $200 monthly ChatGPT Pro subscription with new model
The new ChatGPT Pro option, announced in a livestreamed event on Thursday, will cost $200 a month and offer access to an expanded version of o1, its reasoning model.
WORLD
Trump names David Sacks as White House AI and crypto czar
In his post, Trump said Sacks “will safeguard Free Speech online, and steer us away from Big Tech bias and censorship.”
BUSINESS
Wall Street banks predict biggest China rate cuts in a decade
Goldman Sachs Group Inc. and Morgan Stanley are among those projecting cuts of 40 basis points to the People’s Bank of China’s main policy rate in 2025. That would be the largest reduction in a calendar year since 2015.
WORLD
Asian equities edge lower ahead of US jobs data
Equities in Japan, Australia and futures in Hong Kong all fell, taking cues from the downbeat mood on Wall Street
BUSINESS
India outpaces China in green investments as renewables surge
Deals worth about $2.4 billion were completed in the third quarter, more than four times the value of those in China
MARKETS
Jane Street, Millennium end India options trade secrets case
In a filing Thursday in Manhattan federal court, the two firms said they had agreed to dismiss the case. Terms of the settlement were not disclosed
BUSINESS
UAE Port Operator DP World Plans India Expansion to Ease Delays
While DP World principally runs container ports, it’s also involved in developing other industrial sites, freight services and trade financing.
BUSINESS
OPEC+ has agreement in principle to delay oil output hike
Ministers from the group will meet online later on Thursday to finalize details of the accord, with the main focus on a delay of three months, delegates said, asking not to be identified because the talks were private.
WORLD
Billionaires emigrating more frequently since Covid, says UBS. Check top destinations
About one of every 15 of the world’s 2,682 billionaires has relocated since 2020
BUSINESS
RBI will likely hold rates, boost liquidity
Bond traders are pricing in a rate cut soon with yields falling across tenure, and swaps rates, that signal interest-rate sensitivity, sliding.
