BUSINESS
Diageo is said to weigh Ciroc Vodka sale after Diddy tie-up ends
Diageo is studying a sale of Cîroc following the settlement in January of a lawsuit with Combs where he accused the spirits company of racism in its alleged neglect of Cîroc Vodka and another liquor brand called DeLeón Tequila
WORLD
US jobless claims fell last week during holiday season volatility
The four-week moving average of new applications, a metric that helps smooth out volatility, rose to 225,500.
WORLD
South Korea's won slumps to lowest since 2009 on hawkish US Fed, political risk
The dollar-won rose as much as 1.5% to 1460.2 on Thursday, bringing the won to its weakest level since March 2009 before it pared some of its losses
WORLD
China's central bank offers strongest yuan support since July after dollar gains
The People’s Bank of China set the so-called fixing at the strongest bias since July versus the average estimate in a Bloomberg survey on Thursday
WORLD
Powell signals US Fed’s focus has returned firmly to inflation
Officials now see it taking much longer for inflation to reach their 2% target, which they have missed for nearly four years
WORLD
Asian stocks retreat as US Fed sees fewer rate cuts
Equity benchmarks in Japan, Australia and South Korea declined, helping drag a gauge of regional equities more than 1% lower
BUSINESS
Bitcoin retreats from record high after Fed cools risk appetite
Fed officials lowered their benchmark interest rate for a third consecutive time on Wednesday, but reined in the number of cuts they expect in 2025
BUSINESS
Fed lowers rates by quarter point, signals two cuts for 2025
Policymakers have now lowered their benchmark lending rate by a full percentage point since mid-September, when they began cuts with an aggressive half-point move
BUSINESS
India’s record gold import said to be due to calculation error
The double counting may have gone unnoticed earlier, but became apparent only in November because domestic prices went into a discount of at least 10% from international prices, triggering increased purchases that disproportionately pushed up import figures
BUSINESS
Merck in pact for Chinese obesity drug in nearly $2 billion deal
Under the terms of the deal, Hansoh Pharma would also receive royalties on sales, and may co-promote or solely commercialize the drug in China subject to certain conditions, the companies said in the statement.
BUSINESS
Yotta Data Services seeks $500 million private credit to invest in data centres
Yotta’s fund-raising plan underscores the growing need for capital in the world’s fastest-growing major economy that has made infrastructure building a key priority.
BUSINESS
Reserve Bank dials down use of NDFs to fight dollar
The Reserve Bank of India has recently let some short dollar positions in the overseas market expire without rolling into new contracts
BUSINESS
Foxconn said to have approached Nissan to take controlling stake
Honda is considering several options that may also involve a capital tie-up or the establishment of a holding company, Executive Vice President Shinji Aoyama said on Wednesday.
WORLD
Asian stocks edge higher with focus on US Fed meeting
A gauge of regional stocks rose 0.3%, led by gains in Hong Kong, mainland China and South Korea. Japanese equities fluctuated
MARKETS
Dow Industrials is mired in longest slide since 1978
The Dow Jones Industrial Average ended the day 0.6% lower for its ninth straight decline
BUSINESS
Nissan and Honda consider merger to take on Toyota
A deal would effectively consolidate the Japanese auto industry into two main camps: One controlled by Honda, Nissan and Mitsubishi and another consisting of Toyota group companies
BUSINESS
Shriram Finance seeks record $1.25 billion offshore loan split across currencies
The loan adds to this year’s rush of offshore debt sales by Indian shadow lenders after the nation’s central bank tightened rules in November 2023 that made it increasingly difficult for the sector to obtain local currency bank loans.
WORLD
China capital exodus reaches record speed on tariff threat
The rising tide of outflows signals souring sentiment toward the Asian nation as US President-elect Donald Trump’s vow to impose 60% tariffs on Chinese goods threatens to decimate trade between the two nations.
WORLD
Canada’s dollar slumps to Covid-era low as Trudeau government slips into crisis
The currency has fallen more than 7% against the US dollar this year so far, on path to have the worst year since 2018.
BUSINESS
India Inc raises $16 billion from large buyers via share placements in 2024
India has also emerged as one of the busiest venues globally for first-time share sales this year. Over 300 companies have done IPOs that raised almost $18 billion so far in 2024, thanks to robust demand from retail investors and global funds.
BUSINESS
China may keep trying to spur consumption without big stimulus
Senior officials last week endorsed their strongest pro-growth stance in a decade, indicating bigger government spending and more interest rate cuts
BUSINESS
Trump picks former investment banker George Glass as Japan ambassador
Glass, who has also worked in real estate, was US ambassador to Portugal during Trump’s first term as president.
BUSINESS
Blackstone said to emerge as lead bidder for Haldiram stake
Talks are advanced and the parties are looking to reach an agreement as soon as the coming weeks, the people said, adding that other bidders remain interested in potentially buying a stake.
BUSINESS
LG Electronics said to eye up to $15 billion valuation for India IPO
The South Korean company is planning to start a formal roadshow for LG Electronics India IPO in the next two months and is targetting a listing in the first half of 2025, the report said.
