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.
WORLD
US initial jobless claims fall to eight-month low to end 2024
More recent data have pointed to a labor market that is moderating but remains broadly solid.
BUSINESS
Rolex hikes watch prices by as much as 8% after gold surge
MARKETS
Chinese stocks tumble in worst start to a year since 2016
The CSI 300 Index closed down 2.9% on Thursday, its steepest drop on a year’s first day of trading since 2016. The Hang Seng China Enterprises Index slid as much as 3.1%.
WORLD
PBOC boosts support for yuan after currency’s year-end tumble
The People’s Bank of China set the so-called fixing, which confines yuan’s trading onshore to a 2% range on either side, at 7.1879 per dollar on Thursday
WORLD
Elon Musk says Cybertruck explosion in Las Vegas likely terrorism
The Las Vegas Metropolitan Police Department said a 2024 Cybertruck pulled up to the glass entrance doors of the Trump hotel and smoke then appeared from the vehicle before a large explosion.
MARKETS
Asia kicks off new year after ominous end to 2024
Shares in Sydney were little changed while futures showed Hong Kong’s benchmark may advance slightly
BUSINESS
Russia and Ukraine end five decades of gas transit to Europe
Both sides confirmed the halt on Wednesday after a key transit deal expired. The stoppage means a number of central European countries that have relied on the flows will be forced to source more expensive gas elsewhere, adding to pressure on supplies at a time when the region is depleting winter storage at the fastest pace in years.
BUSINESS
China’s factory activity expands again as economy stabilizes
The official manufacturing purchasing managers’ index was 50.1, the National Bureau of Statistics said Tuesday. While it indicates a slightly slower pace of growth than economists expected, the reading marked the longest streak of expansion since March last year.
