WORLD
Asian stocks rise, dollar weakens ahead of US CPI
Stocks in Hong Kong and mainland China advanced as an annual economic meeting begins in Beijing on Wednesday
WORLD
US mulls new Russia oil sanctions to weaken Putin; may hit Indian imports, spike global prices
One model for broader US sanctions could be to impose restrictions similar to those on Iranian oil. In that case, buyers of the oil face US punishment.
BUSINESS
Apple’s next ultra smartwatch will be able to send texts via satellite
The satellite capability is slated to come to next year’s Apple Watch Ultra, the company’s top-of-the-line model, according to people familiar with the matter.
BUSINESS
SpaceX valuation jumps to about $350 billion in insider sale
The per-share price of $185 is up substantially from the $112 set in a prior valuation less than three months ago, said the memo, which was separately confirmed by people familiar with the matter.
BUSINESS
Trump vows fast permits for those investing $1 billion in US
Trump did not immediately detail what steps his administration would take to help investors secure permits to fast-track projects and any such effort is likely to face hurdles at the state and local levels.
BUSINESS
IATA expects record traffic in 2025, airline industry's revenue set to exceed $1 trillion
Profit margins for airlines will be 3.6%, higher than those in 2024, IATA said. Lower oil and higher demand will drive profitability, while potential tariffs and trade wars under Trump 2.0 could hurt the industry’s prospects, it added.
BUSINESS
Prudential said to consider selling stake in Eastspring Investments
The insurer is working with a financial adviser on a review of Eastspring, the people said, asking not to be identified. A potential stake sale could value Singapore-based Eastspring at about $3 billion.
COMPANIES
Adani seeks fresh lifeline for troubled East India power plant
The Adani plant, which accounts for about a 10th of Bangladesh’s power consumption, has already racked up as much as $790 million of dues as of the end of September
AUTOMOBILE
Xiaomi teases Tesla-like SUV for summer in big EV expansion
Billionaire founder Lei Jun unveiled the YU7, a sport utility vehicle similar to Tesla’s Model Y, in a Weibo post
WORLD
With Assad’s fall, Erdogan oversees Turkey’s growing regional clout
Erdogan’s clout over his southern neighbor has increased dramatically with the fall of his onetime friend Bashar al-Assad
COMPANIES
Reliance Industries seeks up to $3 billion loan for refinancing
About half a dozen banks are in discussions with the Indian conglomerate for the loan, which would be syndicated to wider market in the first quarter of 2025
BUSINESS
Motilal Oswal's outperforming fund adds shares of jewellery, electronics makers
Chief Investment Officer Niket Shah said he’s adding shares of companies that offer lower priced non-essential goods, such as jewellery and apparel, on expectations of increased spending.
BUSINESS
Mondelez exploring takeover of US chocolate maker Hershey
Chicago-based Mondelez has made a preliminary approach about a possible combination, said the people, who asked not to be identified because discussions are private
BUSINESS
GIC picks JPMorgan to advise on $5 billion Greenko stake sale
The Singapore state investor is moving ahead with preparations for a potential deal that could involve a full or partial sale of its holding in Greenko, the people said, asking not to be identified because the deliberations are private.
WORLD
Trump says for first time he communicated with Xi after election
Trump’s remarks make clear that contacts at the highest level have resumed between Beijing and Trump’s camp
WORLD
‘Disease X’ outbreak widens as UN sends health team to Congo
Over 400 cases of the unidentified illness — marked by fever, headache, cough, runny nose, and body aches — have been reported since late October
WORLD
Jack Ma pushes AI drive in rare speech since Ant crackdown
Chinese authorities abruptly halted Ant’s IPO in November 2020 and ordered a sweeping overhaul of its business model to comply with financial regulations
BUSINESS
Biosecure Act out of key Defense Bill in win for Chinese biotech
China contends its companies are being unfairly targeted, saying the legislation’s supporters are using a broad definition of national security to suppress foreign businesses and undermine fair competition.
WORLD
Assad’s fall after 24-year rule in Syria risks more Middle East chaos
Assad had managed to endure the popular uprising against him for more than 13 years. But the message from his one-time allies and foes was clear: You’re on your own.
BUSINESS
Saudi Arabia cuts oil prices after OPEC+ delays reviving output
Earlier, OPEC+ — led by Saudi Arabia and Russia — agreed to push back production increases planned for the start of January by another three months, following two previous delays.
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.
