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.
COMPANIES
Poonawalla Fincorp looks to double staff in growth blitz
The non-bank finance company plans to add six retail-focused lending businesses in the next four to six quarters
MARKETS
Robinhood to launch in Asia in 2025 with Singapore HQ
The expansion comes on the heels of the Menlo Park, California-based company entering the UK this year, offering some though not all of its trademark services to those customers
BUSINESS
Shapoorji Pallonji Group firm Goswami Infratech’s gets investor assurance to defer debt
Goswami Infratech’s Rs 1,800 crore of payment due September 30 this year will be deferred to December 2025, Venkatesh Gopalkrishnan, director of group promoter’s office at Shapoorji Pallonji said.
WORLD
Asian stocks mirror US advance; yen strengthens
Equities in Japan and Australia climbed, while those in South Korea fell as the country’s opposition party sought to impeach President Yoon Suk Yeol
BUSINESS
China tech stumbles in hunt for Wall Street’s AI gold rush
The Nasdaq 100 has soared more than 75% since ChatGPT was introduced two years ago, compared with Hang Seng Tech Index’s 16% gain
COMPANIES
Byju’s content manager, business partner face US court sanctions
A federal judge is considering imposing millions of dollars in sanctions on Byju’s manager Vinay Ravindra and company ally Rajendran Vellapalath, who founded Dubai-based tech startup Voizzit Technology
BUSINESS
Salesforce posts strong revenue with promise of AI boost
Salesforce, the top seller of customer relations management software, pivoted its AI strategy this year to focus on tools called agents, which are designed to complete tasks such as customer support or sales development without human supervision.
WORLD
Asian stocks slip as Kospi slides on South Korea's political turmoil
The benchmark Kospi Index fell as much as 2% early Wednesday after South Korea-related assets all dropped overnight
BUSINESS
Jaguar’s controversial ad aimed to get eyeballs, says MD Rawdon Glover
Jaguar last night unveiled its new concept car, the Type 00, at Miami Art Week, with examples in pink and blue. It’s characterized by flush surfaces, a long hood, a glassless rear tailgate and taillights that span the width of its body.
