BUSINESS
Trump remains opposed to US steel sale, pledges tariff fix
Trump made the comment in a Truth Social post on Monday night, with the decision on whether it goes forward slated to land on Biden’s desk before Trump’s inauguration.
BUSINESS
Indian insurers seek zero-coupon bonds to manage long-term risks
Zero-coupon bonds could help insurance companies better manage their long-term liabilities, as they step up offerings of guaranteed savings products
BUSINESS
Stocks versus Bonds dilemma hits EM traders as Trump returns
EM dollar bonds outperformed stocks for the first three years of Biden’s presidency. This year they’re neck-in-neck, with the benchmark equity index returning 8.8% versus about 7.9% for bonds - though the latter came with half the volatility.
CRYPTOCURRENCY
Bitcoin’s push toward $100,000 runs into a wall of resistance
As Bitcoin’s price plateaus, interest is rising in other digital assets, such as second-largest cryptocurrency Ether and XRP
WORLD
SpaceX weighs tender offer at roughly $350 billion valuation
That would be a significant premium to a previously mulled valuation of $255 billion as reported by Bloomberg News and other media outlets just last month
WORLD
Asian stocks rise with US curbs on China in focus
Equity benchmarks gained in Japan, South Korea and Australia. Hong Kong and US futures were steady
BUSINESS
Bezos backs Tenstorrent, AI chipmaker vying with Nvidia at $2.6 billion value
Tenstorrent hopes to create a chip to try and break Nvidia’s stranglehold on the AI business, and has raised capital in a funding round led by South Korea’s AFW Partners and Samsung Securities, founder Jim Keller said.
BUSINESS
Intel CEO Pat Gelsinger forced out by board frustrated with slow progress
Intel Chief Financial Officer David Zinsner and Executive Vice President Michelle Johnston Holthaus are serving as interim co-CEOs while the board searches for Gelsinger’s replacement, the company said in a statement.
BUSINESS
Jeff Bezos is betting on AI chip startup Tenstorrent to take on Nvidia
Tenstorrent is also a proponent of an alternative kind of logic processor based on an open standard called RISC-V, which poses a challenge to Arm Holdings Plc.
WORLD
US bitcoin, ether ETFs log record inflows on Trump’s embrace of crypto
The groups of Bitcoin and Ether ETFs each posted record monthly net inflows in November, $6.5 billion and $1.1 billion respectively
MARKETS
Stars are aligning for Indian bonds to extend rally into 2025
The central bank’s rate cuts anticipated from early next year on slowing economic growth, continued index-inclusion-related foreign inflows and strong demand from local pension and insurance companies are likely to further burnish the appeal of sovereign notes
BUSINESS
Bulgari CEO eyes India for growth as China luxury demand weakens
Global luxury giants from LVMH Moet Hennessy Louis Vuitton SE to Kering SA saw their sales in China slump in the first nine months of this year
WORLD
Asian stocks edge up, euro falls on French concern
The MSCI gauge of Asian shares headed for a second day of gains with benchmarks in South Korea and Australia among those gaining
BUSINESS
JPMorgan drops suit against Tesla over Elon Musk tweet, warrants
Tesla then filed its own claims that JPMorgan had taken advantage of the tweet to reduce the strike price of more than 1.9 million warrants
BUSINESS
Analysts rush to pare India forecast after growth shocker
Falling wages, slumping company profits and high inflation have hurt economic activity in the last few quarters, prompting several government ministers to call for interest rate cuts
BUSINESS
German car-parts maker Mahle is said to mull IPO of Indian unit: Report
The IPO could potentially raise as much as $400 million and Mahle may target a valuation of around $1 billion for the unit
BUSINESS
How China can hit back at Trump: Target US firms, turn to India, Africa
The dilemma for China now is that its sizable trade surplus with the US means any direct countermeasures may have limited impact
BUSINESS
India's sovereign debt set for first monthly outflow since joining JPM bond index
Foreigners’ appetite for local debt waned after Donald Trump’s election win stoked speculation of higher US inflation and pushed up the dollar, given the President-elect’s plans to impose tariffs around the globe.
BUSINESS
India’s IT stocks stand out as Trump win boosts spending bets
A benchmark gauge of the industry, led by India’s IT export stalwarts like Infosys Ltd. and Tata Consultancy Services, has risen about 7% in November.
BUSINESS
Orkla is said to consider $400 million IPO of Indian business
The Oslo-based company is working with advisers on the potential share sale, the people said. It could seek a valuation of over $2 billion for the unit, one of the people said.
BUSINESS
India cuts back cheap gas for cars even as bad air chokes Delhi
Supply constraints have left retailers like Indraprastha Gas Ltd. and Mahanagar Gas Ltd. increasingly reliant on more expensive imports — or costly production from new Indian fields, which have proven more technically challenging.
BUSINESS
Global funds find bright spots in India despite equity outflows
Industrials, health-care and telecommunication stocks have drawn net inflows of about $3 billion each this year through Nov. 15, according to data from the NSDL.
BUSINESS
Japanese banks sticking with Adani as Jefferies, Barclays review ties
The Japanese support underscores the divide among finance firms over Adani after he and others were charged with plotting a $250 million scheme to bribe India government officials to win solar energy contracts.
BUSINESS
Aster DM is said to near deal with Blackstone-backed Quality Care
Shareholders of Aster are poised to own around 57% of the combined entity, while investors in Hyderabad-based Quality Care would hold the remaining 43%.
