WORLD
Lebanon accuses Israel of orchestrating deadly pager blasts
The blasts took place after batteries on the wireless devices likely overheated, indicating “foul play,” Lebanon’s Telecommunications Minister Johnny Corm told Bloomberg
BUSINESS
Bitcoin jumps most in more than a month amid Fed rate cut optimism
The largest digital currency gained as much as 6.4% to $61,337 on Tuesday, the biggest intraday increase since August 8. Smaller cryptocurrencies such as Ether, Dogecoin and Solana also rallied
BUSINESS
Markets hinge on Powell emulating Greenspan to avoid a recession
Like nearly three decades ago, bonds and stocks are rallying ahead of a critical Fed meeting. This time, the key question for Chair Jerome Powell is which approach — reducing rates by 25 bps or 50 bps — is most beneficial for the US economy.
BUSINESS
Bajaj Housing Finance, India's most valuable mortgage lender, sees housing market battle easing
Sanjiv Bajaj, chairman of the home-loan unit of India’s largest shadow lender and part of one of the country’s oldest conglomerates, said banks have focused on retail business in recent years, given softer demand from corporate borrowers and this has made housing finance “a very competitive market at this point of time”
BUSINESS
Arm of Uday Kotak's group joins the rush for private credit market
While private credit as an asset class has expanded globally, India has become a hotbed for the strategy, where institutions and funds make loans directly to companies, as investors hunt for higher returns.
BUSINESS
Two Walmart heirs top $100 billion wealth for the first time
For the first time ever, two Walton heirs have topped $100 billion each in net worth and a third sibling hovers just below that amount, according to the Bloomberg Billionaires Index.
BUSINESS
Tupperware brands plans to file for bankruptcy
The bankruptcy preparations follow protracted negotiations between Tupperware and its lenders over how to manage more than $700 million in debt.
BUSINESS
Buzzing IPO market is gearing up for bigger debuts
Swiggy is considering filing for a $1 billion-plus offering as soon as this week, people familiar with the matter said.
BUSINESS
Adani, AfDB get $1.3 billion concession for Kenya power lines
The Kenyan government has borrowed heavily and can ill afford to take on additional loans. To balance the need for continued investment in development, the government says it needs private money in public projects.
BUSINESS
Softbank-backed Swiggy said to eye IPO filing this week
Swiggy, backed by SoftBank Group Corp., would follow in the footsteps of other local and international companies seeking to tap the country’s economic growth
BUSINESS
Temasek said to near stake purchase in Blackstone-owned visa firm VFS
VFS has a large presence in India, where it provides visa application services for the US consulate across cities in the country
BUSINESS
China’s first retirement age hike since 1978 triggers discontent
The change will take place over 15 years starting January, and will allow more people to work longer. This could boost productivity, although it risks adding to public discontent with the economy growing at the worst pace in five quarters.
INDIA
India ready to give Maldives aid as Sukuk default risk looms
Maldives can immediately tap $400 million available under the Reserve Bank of India’s currency swap program that’s open to regional countries, Indian officials said
COMPANIES
Blackstone is said to consider sale of $7-billion visa firm VFS
The US alternative asset manager has held preliminary discussions with advisers to evaluate a full or partial stake sale in VFS, the people said, asking not to be identified because the matter is private. A potential transaction could value VFS at about $7 billion, the people said.
WORLD
Asian stocks fluctuate, yen advances as US Fed move nears
Stocks fluctuated in the region, with the yen’s rise to around 141 per dollar pressuring those in Japan, an export-oriented economy. Australian and South Korea shares rose, following a fourth day of gains on Wall Street. Hong Kong futures were higher
BUSINESS
World oil demand growth is slowest since pandemic as China cools, IEA says
In July, China’s consumption fell by 280,000 barrels a day, compared with an increase of about 1 million a day in the previous 12 months, and for the year as a whole will expand by just 180,000 barrels a day, according to the report.
WORLD
China to cut rates on $5 trillion mortgages as soon as September
Policymakers have taken some forceful steps to lower borrowing costs this year including scrapping a central government-guided mortgage rate floor for first and second home purchases
BUSINESS
Two Chinese AI chipmakers seek IPOs to mount challenge to Nvidia
The pair of Shanghai-based chipmakers will join peer Cambricon Technologies Corp. on their home city’s bourse, which is trying to mold the STAR exchange into the country’s premier tech listings destination.
WORLD
ECB cuts rates again as inflation fades and economy stumbles
Europe’s sluggish growth could persist long into the future, former ECB chief Mario Draghi warned this week.
AUTOMOBILE
China directs its carmakers not to make auto-related investments in India
Beijing is strongly advising its automakers to ensure that advanced electric vehicle technology stays in the country
MARKETS
Sebi considers new rules to curb risks as tiny IPOs boom
Mandating a longer track record of profitability and greater scrutiny of financial statements are the other potential steps under review, the person said, asking not be identified as the details are private. This follows incidents of fraud in this segment of the market, they added
TECHNOLOGY
OpenAI fundraising set to vault startup’s valuation to $150 billion
The new valuation, a figure that doesn’t include the money being raised, is significantly higher than the $86 billion valuation from the company’s tender offer earlier this year, and cements its place as one of the most valuable startups in the world.
WORLD
Asian stocks rise as traders look to Fed rate cut
US futures were little changed after the S&P 500 closed 1.1% higher Wednesday, while the tech-heavy Nasdaq 100 rose 2.2%. Nvidia Corp. gained 8.2% as chipmakers rallied
BUSINESS
Core US inflation picks up, damping odds of outsize Fed cut
The so-called core consumer price index — which excludes food and energy costs — increased 0.3% from July, the most in four months, and 3.2% from a year ago, Bureau of Labor Statistics figures showed Wednesday
