MARKETS
Asian stocks decline as traders retreat from tech
Shares in Japan and Australia dropped along with equity futures for Hong Kong. The tech-heavy Nasdaq 100 declined 1.9% Wednesday with Nvidia Corp. slipping 3.8% to its lowest since September.
BUSINESS
AI chip startup mythic raises $125 million in bid to take on Nvidia
Mythic, which tapped Nvidia veteran Taner Ozcelik as its chief executive officer last year, raised the money from a group led by venture firm DCVC
BUSINESS
Ford scraps $6.5 billion EV battery contract with Korea’s LG
The amount is equivalent more than a third of LG’s total revenue last year.
BUSINESS
Warner Bros. urges investors to reject 'inferior' Paramount bid
The Paramount offer 'remains inferior' to the Netflix merger, the Warner Bros. board wrote. The board unanimously recommended the Netflix deal, saying the terms of the Netflix merger are 'superior'.
BUSINESS
Rupee roars back on RBI's support, up most in seven months
The rupee rose as much as 1%, the most since May 23, to 90.0963 on Wednesday, after closing at a record low in the previous session.
BUSINESS
Fleet of Russian oil tankers builds up off China coast as India pulls back
At least five vessels carrying about 3.4 million barrels were idling in the Yellow Sea as of Wednesday, double the volume of last week and the highest level for the grade in that region in more than five years
BUSINESS
US readies new Russia sanctions if Putin rejects peace deal
The new measures could be unveiled as early as this week, some of the people said.
WORLD
Bondi shooter charged with 59 counts including murder, terrorism
The 24 year-old, who’s been identified as Naveed Akram, remains under police guard in the hospital, New South Wales police said in a statement
BUSINESS
Gold edges toward record as traders watch US data and Venezuela
Gold is not far off the record high above $4,381 an ounce set in October. The precious metal has jumped about two-thirds this year and is on track for its best annual performance since 1979.
BUSINESS
Morgan Stanley eclipses Goldman as top Asia equity deal arranger
The Wall Street bank is well on track to be the top arranger of equity capital markets deals in the Asia-Pacific region for the second year running
WORLD
Trump chief calls Elon Musk drug user, V-P Vance 'conspiracy theorist'
Musk denied using ketamine following a New York Times report earlier this year that alleged extensive use of that substance and other drugs.
COMPANIES
Mizuho, Sumitomo among Japanese firms piling into India for growth
Mizuho Financial Group on Dec 17 announced a deal to acquire a stake in Avendus
WORLD
Trump orders blockade of sanctioned oil tankers in Venezuela
Trump said he was also designating the regime of Venezuelan President Nicolas Maduro as a “FOREIGN TERRORIST ORGANIZATION.”
WORLD
Trump slams Paramount over CBS as Warner battle intensifies
Paramount chief David Ellison, whose father, Larry Ellison, is a longtime donor and supporter, has pointed to his relationship with Trump to suggest an easier regulatory review.
BUSINESS
Warner Bros. plans to reject Paramount bid on funding, terms
Paramount has said that its $30-a-share offer for Warner Bros. isn’t its “best and final,” implying it has room to raise its bid. One major sticking point is Warner Bros.’ concern about the financing proposed by Paramount, which is led by David Ellison.
BUSINESS
Kushner’s Affinity withdraws from Warner Bros. takeover
The private equity firm emerged this month as a participant in Paramount Skydance Corp.’s hostile bid for Warner Bros., which valued the media and entertainment company at $108.4 billion including debt.
WORLD
Bondi Beach shooter awakens from coma as first funeral nears
New South Wales police are expected to start questioning 24 year-old Naveed Akram within hours, Commissioner Mal Lanyon told radio station 2GB Wednesday morning.
BUSINESS
Asian stocks slip after US jobs data, oil rises
In Asia, investors will be focused on Chinese stocks in Hong Kong after they neared key bearish technical levels on Tuesday as fading tech gains and renewed economic growth concerns fueled a sharp selloff.
BUSINESS
Wall Street turns crypto risk into a $530 million complex trade
Banks are wrapping crypto exposure into new products that offer returns tailored to distinct risk appetites with some downside protection.
BUSINESS
AI slump dims emerging market stocks amid wait for US jobs report
Nonfarm payrolls rose 64,000 in November after a 105,000 decline in October, according to Bureau of Labor Statistics data released Tuesday.
BUSINESS
Kraft Heinz replaces CEO ahead of split into two public firms
The move follows a difficult period for the food company, which said in September that it would split into two separate entities.
BUSINESS
McKinsey plots thousands of job cuts in slowdown for consulting industry
The firm's leadership has discussed with managers in non-client-facing departments the need to cut about 10% of headcount across their business, people with knowledge of the matter told Bloomberg.
BUSINESS
Zepto said to plan filing for $500 million India IPO next week
The 10-minute delivery platform’s offering is expected to include a fresh issue as well as secondary share sales by existing investors, with proceeds earmarked for expansion, sources told Bloomberg.
BUSINESS
Rupee rout dims hopes of a strong recovery in Indian stocks
Asia’s worst-performing currency this year is emerging as a near-term threat to a rebound in Indian stocks, despite strong economic growth and a revival in corporate earnings.
