BUSINESS
BofA’s Michael Hartnett sees risk-on rally if US jobs data is as expected
US stocks have stumbled in the first few days of October after rallying for five straight months, as investors assess geopolitical risks in the Middle East, global economic growth and interest rates.
BUSINESS
Emerging market bonds eye payrolls data for fresh momentum
A Bloomberg index of hard currency emerging-market sovereign bonds has been flat this week, but Friday’s payrolls report could inject fresh momentum into dollar-denominated debt.
BUSINESS
Piramal Pharma aims to double revenue in five years
Piramal said the company plans to achieve these targets mostly organically, which means filling existing capacity and from new molecules that are currently undergoing clinical trials.
BUSINESS
Temasek in talks for $1 billion-plus stake in Haldiram Snacks
The Singapore state investor is holding preliminary talks to buy from 10% to 15% in Haldiram, the people said, asking not to be identified because the matter is private.
BUSINESS
Rakesh Gangwal buys $108 million of shares in Southwest Airlines
In a series of transactions disclosed over seven filings, Gangwal acquired 3.6 million of the carrier’s common shares for roughly $29 apiece.
BUSINESS
GQG Partners' Rajiv Jain unimpressed by the China rally after the stimulus blitz
GQG Partners Emerging Markets Equity Fund has kept his holdings in Chinese stocks at about 12% of the fund — roughly half of the weighting of its benchmark.
BUSINESS
China’s sudden stock rally sucks money from rest of Asia
The MSCI China Index has risen more than 30% from a recent low as authorities announced a barrage of measures to revive growth. Trading turnover in both China and Hong Kong hit a record high on Monday.
BUSINESS
Warren Buffett may target Japan's bank and insurance shares, analysts say
The renewed presence of Buffett, known as the Oracle of Omaha, may provide a cheer for Japanese stocks as his endorsement to the five major trading houses helped propel the Nikkei 225 Stock Average to a record high earlier this year.
TECHNOLOGY
Will AI run your house soon in future? This is what SoftBank’s Son thinks about tech's potential
He moved up his expectation for when artificial general intelligence — the long-term goal for developers from OpenAI to Meta Platforms Inc. and Alphabet Inc.’s Google — would arrive to within the next two to three years
MARKETS
Hong Kong brokers swamped by ‘once in a century’ stock frenzy
Brokers across Hong Kong are experiencing a similar euphoria as the stocks of Chinese companies soar in the wake of landmark stimulus moves by Beijing last week
MARKETS
Japanese stocks rise as PM Ishiba’s comment weakens yen
The yen tumbled about 2% against the dollar Wednesday, its worst day since June 2022, after Shigeru Ishiba said the economy isn’t ready for another hike
WORLD
Tesla’s first quarterly sales gain this year comes up short
The Elon Musk-led company handed over 462,890 vehicles to customers in the last three months, up 6.4% from a year ago
BUSINESS
OpenAI has closed new funding round raising over $6.5 billion
The deal is one of the largest-ever private investments, and makes OpenAI one of the three largest venture-backed startups, alongside Elon Musk’s SpaceX and TikTok owner ByteDance
WORLD
Oil pares gain on signs market can absorb Middle East disruption
Crude advanced 2.4% on Tuesday after Iran’s missile attack on Israel, which was preceded by a warning from the US.
BUSINESS
BlackRock chases private credit deals in booming Indian market
Private credit investments in India in the the first six months of 2024 soared to an all-time high of $6 billion, according to a recent report by EY.
TECHNOLOGY
KKR is said to weigh takeover bid for chip gear maker ASMPT
The US alternative asset manager has made a non-binding, preliminary approach to take Hong Kong-listed ASMPT private
MARKETS
In just 8 days, China regains lost dominance over emerging markets on stimulus boost
The country’s weight in MSCI Inc.’s benchmark for EM equities climbed back to 27.8% at the end of September, the highest level since November 2023
WORLD
Samsung to cut thousands of jobs amid struggles in AI market
Samsung recently trimmed about 10% of jobs in India and some parts of Latin America
BUSINESS
Oil extends surge as Israel vows retaliation after Iran strike
Global benchmark Brent climbed above $74 a barrel, after briefly spiking more than 5% on Tuesday following the Iranian assault, which was preceded by a warning from the US.
MARKETS
Asian shares slip, oil and haven assets rise after Iran strikes Israel
Stocks fell in Tokyo and Sydney after the S&P 500 slid 0.9%, with contracts pointing to further declines for the US benchmark in early trading
WORLD
Stocks in ‘Wait and See Mode’ on Mideast Strife
Haven assets were bid up with bonds, oil, gold and the US dollar all advancing after Iran fired a barrage of missiles at Israel following an advance of armed forces into Lebanon.
WORLD
Iran launches ballistic missiles at Israel as US vows to defend
Oil prices surged more than 4%. Bonds and gold rose while stocks declined as investors retreated to safe havens.
BUSINESS
Oil soars after Iran launches rockets at Israel in direct attack
Global benchmark Brent climbed near $75 a barrel, while West Texas Intermediate rose more than 5% to top $71 a barrel, reversing earlier losses
WORLD
Bonds, oil surge as Iran fires missiles at Israel
Tech stocks were the worst performers with Apple Inc. and Nvidia Corp. sinking more than 3% as the Nasdaq 100 lost 1.9% and the S&P 500 fell 1%.
