BUSINESS
How stocks became the game that record numbers of Americans are playing
A wave of technological advancements has coincided with new apps and platforms to create a thriving ecosystem where everyday people can trade stocks with the ease of swiping for dates on Tinder
BUSINESS
Bobby Jain’s complex hedge fund debut spawns fans and doubters
His vision — laid out in the hotel’s seafood restaurant — was ambitious, even unprecedented. He would hatch a giant, fully formed hedge fund that would trade a half-dozen strategies and employ hundreds of people globally from day one
BUSINESS
Citi says it’s time to book profits in high-flying AI equities
Sentiment toward AI-exposed equities is the strongest since 2019 and free cash flow at the bulk of those firms is forecast to outstrip analyst expectations, according to the Citi team led by Drew Pettit
BUDGET
JD(U) seeking Rs 30,000 crore in Budget to help fund projects
The Bihar government, which is led by Janata Dal (United)’s Nitish Kumar, made the request during a pre-budget meeting with Finance Minister Nirmala Sitharaman last month, the people said, asking not to be identified because the discussions are private.
BUSINESS
Hyundai under pressure from Tata, Mahindra as $3.5 billion India IPO looms
While Hyundai has long wrestled with Tata Motors for the second spot, Mahindra — famed for its big, brash sport utility vehicles — has been steadily climbing up the charts as Indian consumers embrace ever larger passenger vehicles.
MARKETS
Global banks are the biggest bulls in India’s bond market
They’ve bought more than 500 billion rupees ($6 billion) of debt since June 1, according to data from the Clearing Corp. of India.
WORLD
Aramco seeks at least $3 billion from first bond sale in three years
The world’s biggest oil exporter is offering debt with 10-, 30- and 40-year maturities, according to a person with knowledge of the matter. Meetings with fixed income investors are expected to start Tuesday, the person said.
INDIA
India mulls easing rice export limits, aiding world buyers
The government is considering allowing white rice shipments with a fixed duty, said the people, who asked not to be identified as the talks are confidential.
BUSINESS
Judge who voided Elon Musk’s pay package faces tough call on $7 billion legal fee
A 29-million share payout for the plaintiffs’ lawyers would “be 17 times larger than any award in Delaware history and exceed by more than three-fold the University of Delaware’s endowment” of $1.78 billion, Tesla argued in a court filing,
BUSINESS
Southwest Air names aviation industry veteran Rakesh Gangwal to board
Rakesh Gangwal, 70, and his family once controlled almost 37% of the Indian airline group. His decision to team up with Rahul Bhatia to create IndiGo in 2005 led to the rise of Asia’s largest budget carrier
WORLD
Kamala Harris is Democrats’ future whether nominee or VP
It’s time the party do what the Biden administration should have done from the beginning and showcase the vice president’s value
WORLD
China’s Central Bank to add temporary repos depending on market conditions
The People’s Bank of China said it will conduct such operations “depending on the market situation” between 4 p.m. and 4:20 p.m. each working day, according to a statement on Monday.
WORLD
Who is Jean-Luc Melenchon? far-left leader defiant after French victory
Before other leaders of that alliance — which includes his own far-left France Unbowed, the Socialists and the Greens — could get a word in, Melenchon took center stage at a gathering of followers, demanding that it should be called on to govern the country.
WORLD
France set for political gridlock after left-wing vote win
The New Popular Front — which includes the Socialists and far-left France Unbowed — won 178 seats in the National Assembly, according to data compiled by the Interior Ministry. Marine Le Pen’s National Rally, which pollsters last week had seen winning the election, came third with 143, while President Emmanuel Macron’s centrist alliance notched up 156.
WORLD
Emmanuel Macron the gambler wins chance to play kingmaker: Lionel Laurent
Exit polls for the final round of France’s snap parliamentary election suggest voters have delivered an emphatic “non” to Marine Le Pen’s far-right National Rally, but only a hesitant “maybe” to her rivals on the left and in the center.
BUSINESS
Chinese, Indian stocks favored over Japan in Asia’s second half
About a third of 19 Asia-based strategists and fund managers surveyed informally by Bloomberg News said they see Chinese stocks outstripping most over the next six months. A similar number picked India as their top bet while Japan was a distant third.
BUSINESS
India will fail to plug jobs gap even with 7% growth, Citi says
Citi estimates India will need to create about 12 million jobs a year over the next decade to absorb the number of new entrants to the labor market. Based on a growth rate of 7%, India can only generate 8-9 million jobs a year, the bank’s economists Samiran Chakraborty and Baqar Zaidi wrote in a report this week.
WORLD
French bond futures, Euro slip as left success sows fiscal doubt
Government bond futures fell 23 ticks in early Asia trading, the common currency fell 0.2% to around $1.0821, while Euro Stoxx 50 Index futures were steady. The left’s success has shone the spotlight on its campaign for a sharp increase in government spending.
MARKETS
Indian, Chinese stocks favored over Japan in Asia’s second half
An informal Bloomberg News survey of 19 Asia-based strategists and fund managers revealed that about a third anticipate Chinese stocks leading the region over the next six months, with a similar number favoring Indian equities. Japan was a distant third in their predictions.
POLITICS
Chandrababu Naidu seeks Central aid of over Rs 1 lakh crore for Andhra Pradesh: Report
BUSINESS
HDFC Bank said to mull loan portfolio sale amid growth scrutiny
India’s biggest private sector bank has approached public sector lenders, non-banking finance companies as well as some insurance companies and asset managers about participating in the sale, said the people, who requested anonymity discussing private conversations.
WORLD
Here’s a running tally of the UK Tory big names who have lost
And those losses have begun. With the exit poll predicting Labour is on course for a landslide win, early results are confirming that picture. Here’s a running tally of the well-known Tory stars who have lost their seats:
BUSINESS
India’s banks know climate is their biggest threat: Mihir Sharma
Indian regulators have been slow to respond. It wasn’t until earlier this year that the RBI finally released a draft framework that would require financial institutions to devise and disclose their strategies to mitigate climate-related risk.
WORLD
China's PBOC readies multibillion-yuan pool of bonds to sell by tapping major banks
After months of investor speculation about its intentions, the People’s Bank of China disclosed the clearest outline yet of its unprecedented plans in a statement to Bloomberg News on Friday.
