BUSINESS
Hyundai Motor names Jose Munoz as CEO, first foreign leader
The Spanish-born Munoz replaces Jaehoon Chang, who is being promoted to vice-chairman of Hyundai’s automotive division, the company said in a statement Friday.
BUSINESS
SBI seeks $1.25 billion in India’s largest bank loan of 2024
Despite the flurry of activity, India’s dollar loan volume has shrunk 27% to $14.2 billion this year due to the absence of large company borrowings, according to data compiled by Bloomberg.
WORLD
Trudeau's immigration crackdown fails to revive his slumping support
Trudeau’s government last month slashed the number of annual permanent-resident admissions by more than 20%, the first cut to a key immigration group in more than a decade.
BUSINESS
China’s economy forecast to show modest pick-up after stimulus
Industrial output and retail sales are expected to have grown at a faster pace in October compared to September, according to forecasts by economists in a Bloomberg survey.
BUSINESS
Asian equities climb as US CPI supports Fed easing
Stocks in Japan and Australia climbed, while futures for Hong Kong fell as a gauge of US-listed Chinese companies declined Wednesday.
BUSINESS
Markets see 80% chance of December Fed cut after US inflation data
Swaps traders boosted to about 80% the probability that the Fed will cut rates again on Dec. 18, up from around 56% earlier Wednesday.
BUSINESS
Bitcoin surges above $90,000 for the first time as rally resumes on Trump optimism
Donald Trump has pledged to create a friendly regulatory framework for crypto, set up a strategic Bitcoin stockpile and make the US the global hub for the industry
BUSINESS
US inflation stays firm for third month with 0.3% core CPI gain
Goods prices excluding food and energy, meanwhile, rose for a second month. They had consistently fallen over much of the past year
BUSINESS
7-Eleven owner considers going private in Japan's biggest $58 billion buyout
Under the management buyout being discussed, which would be the largest-ever in Japan, trading house Itochu, the founding family and existing investors would contribute ¥3 trillion in cash and equity
BUSINESS
Contract that made India top options market has last trading day
The National Stock Exchange of India Ltd. is discontinuing weekly contracts on the Nifty Bank Index of major lenders
WORLD
Saudi Arabia replaces CEO developing Megacity of Neom
Nadhmi Al-Nasr, who had been chief executive officer of Neom since 2018, will be replaced by Aiman Al-Mudaifer for now, according to a statement on X.
BUSINESS
Prosus gains $2 billion on Swiggy investment with IPO valuation
Prosus will sell down shares in the IPO and retain 25% of Swiggy, similar to its stake in Tencent, Prosus’s Chief Investment Officer Ervin Tu said.
BUSINESS
Swiggy’s listing tests demand for India’s quick commerce players
Historically, Indian IPOs exceeding $1 billion have averaged a 4.8% gain on their first day, data compiled by Bloomberg show.
BUSINESS
Pictet scours India, EMs for assets safe from Trump’s policy agenda
The firm, with about 254 billion Swiss francs ($288 billion) of assets under management, is favoring Turkey, Argentina and India as it looks for markets with robust domestic economic development and where interest rate cuts are expected.
BUSINESS
Apple’s next device is an AI wall tablet for home control, Siri and video calls
The product, code-named J490, also will spotlight the new Apple Intelligence AI platform, said the people, who asked not to be identified because the work is confidential.
BUSINESS
Rajeev Misra, SoftBank Vision Fund's co-CEO, formally steps down
Misra was instrumental in helping SoftBank founder Masayoshi Son set up the Vision Fund in 2017, helping him raise nearly $100 billion from Saudi Arabia, the United Arab Emirates, Apple Inc. and other backers.
BUSINESS
NTPC Green seeks $12 billion valuation in one of India's largest renewables IPO
The clean energy subsidiary of state-backed NTPC has held discussions with advisers about pricing its IPO at more than 100 rupees ($1.18) a share, the people said, asking not to be identified because the matter is private.
BUSINESS
Brits can’t buy new Jaguars for over a year as brand goes electric
The storied British brand is going dormant until 2026, when it will re-emerge selling only higher-end electric vehicles. Until then, Tata Motors Ltd.-owned Jaguar Land Rover won’t ship any new Jaguars to UK dealers.
BUSINESS
SoftBank swings to profit with help from hot Indian IPO market
The Tokyo-based company earned a net income of ¥1.18 trillion ($7.7 billion) in the September quarter, compared with a net loss of ¥931 billion last year.
BUSINESS
Donald Trump Junior opts out of White House to join 1789 Capital
Trump Jr’s move to investing means two close family members of the president-elect are involved in dealmaking. Jared Kushner, Trump’s son-in-law, founded PE firm Affinity Partners after serving as adviser during Trump’s first term.
BUSINESS
Trump expected to choose Marco Rubio as next Secretary of State
Rubio has taken an aggressive stance on China’s emergence as an economic power and has supported Israel’s war in Gaza and its attacks on Hezbollah in Lebanon, while also being a strong supporter of NATO.
BUSINESS
China plans to slash homebuying taxes in fiscal stimulus push
Regulators are working on a proposal that would allow mega cities including Shanghai and Beijing to cut the deed tax for buyers to as low as 1% from a current level of as much as 3%, the people said, requesting not to be identified because the matter is private.
BUSINESS
Bitcoin nears $90,000 as crypto market exceeds pandemic-era peak
Bitcoin has more than doubled so far in 2024, helped by robust demand for dedicated US ETFs and interest-rate cuts by the Federal Reserve.
WORLD
China nears record $1 trillion trade surplus as Donald Trump returns
Imbalances are also growing with many other nations. China now exports more goods to almost 170 countries and economies than it buys from them, the most since 2021
