WORLD
Jamie Dimon sees ‘lot of inflationary forces in front of us’
Jamie Dimon has been warning for months that inflation could be stickier than many investors are predicting, and wrote in his annual letter to shareholders
BUSINESS
DLF readies to enter luxury housing markets of Mumbai, Goa
DLF is best known for developing Gurgaon, roughly 30 kilometers (20 miles) southwest of New Delhi
BUSINESS
With a BlackRock CEO, $9 trillion Vanguard braces for turbulence
BUSINESS
RBI plans to manage bond index inflows using forex reserves
The Reserve Bank of India plans to absorb the inflows and match the outflows using its near-record high $642 billion reserves, the people said, asking not to be identified as the discussions are private.
BUSINESS
Norway wealth fund blacklists Adani Ports citing ties to war
Norges Bank Investment Management, which manages the fund, announced the decision in a statement late on Wednesday.
WORLD
Honda to invest $65 billion in electrification: CEO Toshihiro Mibe
Honda also aims to reduce EV manufacturing costs by over 30% and plans to bring down battery procurement costs by 20% in North America, Mibe told reporters as part of the company’s update on its business plans.
WORLD
US warns Israel of Gaza power vacuum and wants post-war plan
Part of the problem is that Israel lacks the manpower to hold and administer large parts of Gaza.
WORLD
Nio is launching a more affordable brand in direct challenge to Tesla
The brand, dubbed Onvo, will target family users with its first model, which competes directly with Tesla’s Model Y and Toyota Corp.’s RAV4 sport utility vehicles, Nio Chief Executive Officer William Li said at an event in Shanghai Wednesday.
WORLD
More companies are selling shares to help cut debt
With borrowing costs now much higher after the end of the easy money era, management decided this year that an equity raise was a palatable option to cut leverage.
WORLD
Michael Burry boosts bets on China big tech as stocks rebound
JD.com was Scion Asset Management’s top holding after the firm boosted its stake in the e-commerce operator by 80% during the period, according to the most recent 13F filing. Alibaba was its second-biggest position with total value at around $9 million, after the firm added a further 50,000 shares.
WORLD
US inflation data was accidentally released 30 minutes early
“In advance of today’s CPI and Real Earnings releases, BLS inadvertently loaded a subset of files to the website approximately 30 minutes prior to the release,” BLS said in a statement posted on its website Wednesday evening.
MARKETS
Asian stocks rally, US dollar weakens after US CPI
Shares in Australia, Japan and South Korea climbed. Futures contracts for the S&P 500 and Nasdaq 100 also rose early Thursday after the two benchmarks gained more than 1% to touch fresh highs on Wednesday. Hong Kong shares will resume trading on Thursday after a holiday.
BUSINESS
Bridgewater sees 40% of bets go awry as geopolitics impact markets
Bridgewater has 400 staffers focused on mapping out how certain events will impact markets and the firm still gets 40% of its calls wrong, Bar Dea said at the Qatar Economic Forum
BUSINESS
Humanity Protocol becomes crypto’s new digital identity unicorn
The startup is building a blockchain-based identity system that recognizes individuals by using scans of people’s palms. It plans to announce Wednesday that it raised $30 million at a $1 billion valuation
BUSINESS
Global funds are making a bet on India’s longer-maturity bonds
The proportion of foreign money allocated to local bonds due in 10 years or more climbed to 17% last week, up from just 11% in September, while that in debt maturing in five years of less slipped 10 percentage points to 44% over the same period, according to calculations by Bloomberg.
WORLD
China mulls government purchases of unsold homes to ease glut
The State Council is seeking feedback from several provinces and government entities on the preliminary plan, said the people, asking not to be identified discussing a private matter.
WORLD
Making ChatGPT 'sexy' might not end well for humans
The most impressive thing about the new GPT-4o (the “o” stands for omni) is that it can discuss what it “sees” through your phone camera in real time, a skill that Google faked in a demo for its AI model last December. More startling was that it didn’t just sound human but … strangely seductive.
BUSINESS
Traders set up for post-CPI pop, targeting US 10-year yield at 4.3%
Heavy buying over the past week has centered on options that would stand to benefit from US 10-year yields dropping to roughly 4.3%, some 15 basis points below where they are now and the lowest in more than a month.
WORLD
Bitcoin-proxy MicroStrategy added to key MSCI world stock index
The Tysons Corner, Virginia-based enterprise software maker is one of the three largest additions to the MSCI World Index based on market capitalization, MSCI Inc. said in a statement on Tuesday.
WORLD
Bill Gross sells GameStop, AMC options to cash in on meme mania
Bill Gross is making a habit of selling options on meme stocks, and his latest trades center on GameStop Corp. and AMC Entertainment Holdings Inc.
WORLD
Brazil President Lula fires Petrobras CEO after dividend dispute
The firing was confirmed by people familiar with the matter, who asked not to be identified discussing private matters. Petrobras, as the company is also known, said late Tuesday in a statement that Prates is expected to officially resign at an upcoming board meeting.
WORLD
AI Startup co-founded by David Sacks officially launches
Founded in 2021, the startup formally debuted its service on Tuesday after months of private testing. The idea is to let AI services to join in specific chats, allowing employees to “invite” Glue’s tool to conversations in apps like Google Meet and Zoom.
WORLD
Google executives hint that AR glasses are poised for a comeback
Alphabet Inc.’s Google has struggled for years to get AR spectacles to work. After the initial headset was phased out in 2015, the company sold enterprise versions for businesses, but those too were discontinued last year.
WORLD
Asia’s killer April heat wave was made much worse by climate change
Extreme heat affected hundreds of millions across the region last month, adding to the plight of 1.7 million people displaced by the war in Gaza as well as those without access to cooling. Hundreds of people died from heat-related causes, although more fatalities were likely to have gone unreported, according to the researchers.
