WORLD
Lawyers who killed Elon Musk’s $56 billion pay pact seek Tesla stock
Attorneys for the Tesla investor who challenged Musk’s executive-compensation award – the largest ever given to a corporate titan – filed the request Friday in Delaware state court.
WORLD
US consumer sentiment declines for first time in three months
The sentiment index declined to 76.9 from 79 in January, according to the final February reading from the University of Michigan.
BUSINESS
Renewable growth in India expected to fall short of PM Modi target
Capacity in 2024 is expected to rise by a record 16.7 gigawatts from nearly 13 gigawatts last year, driven by falling solar module prices and increasing clean energy procurement by industries, BloombergNEF said in a note on Thursday.
BUSINESS
US SEC investigating if OpenAI investors were misled
The US regulator is studying internal communications by Chief Executive Officer Sam Altman in relation to his ouster from the post in November, the report said. The SEC sent a subpoena to the company in December and asked senior OpenAI officials to preserve internal documents, according to the people.
BUSINESS
Top India Airlines optimistic on deliveries despite supply woes
IndiGo, which has a backlog of almost 1,000 single-aisle Airbus jets, is predicting it will take one new plane each week and is implementing measures to mitigate disruptions.
WORLD
PM Modi tries to boost space startups, close gap with China
But the private sector hasn’t had the same level of success, with Indian startups trailing their counterparts in China. Eager to turn that around ahead of national elections expected in April and May, Modi’s cabinet last week approved rules designed to encourage foreign investment in rocket and satellite manufacturing.
COMPANIES
KKR considers selling stake in India’s $3 billion JB Pharma, sources say
The US private equity firm is looking to hire financial advisers to help evaluate a sale of its 53.8% stake in the Mumbai-based company, the people said, asking not to be identified as the matter is private.
INDIA
India says Red Sea attacks add urgency to mideast trade route
India has taken the first steps with the UAE to begin work on the India-Middle East-Europe Economic Corridor, or IMEC, Sunjay Sudhir said in an interview in Abu Dhabi on the sidelines of a World Trade Organization meeting.
BUSINESS
India slowly taking export market share from China: Study
The impact is most pronounced in the UK and US, where geopolitical tensions with China have increased in recent years.
WORLD
Google CEO Sundar Pichai blasts ‘unacceptable’ Gemini image generation failure
Teams are now working around the clock to rectify the issues, Pichai wrote in his note, reviewed by Bloomberg News. Stressing the need for the company to deliver unbiased and accurate information, the chief executive officer of both Alphabet and Google said structural changes will be made to prevent similar incidents.
BUSINESS
South Korea’s retail investors join craze for India bonds
Mirae Asset Management Co.’s fund dedicated to Indian debt has grown to about 32 billion won ($22.5 million) from 24 billion won at the end of last year, thanks to the first net inflow in about three years, according to Kim Jin Ha, head of the global fixed income division at South Korean money manager.
WORLD
Donald Trump wins Republican presidential Michigan Primary, continuing his sweep
South Carolina governor Nikki Haley has vowed to stay in the race through Super Tuesday on March 5, when more than a dozen US states hold nominating contests.
WORLD
Joe Biden wins Democratic presidential Michigan Primary amid ‘uncommitted’ vote push
Detractors had urged Democrats to either sit out the vote or to cast “uncommitted” ballots over Biden’s policies toward Israel.
WORLD
How much wealth you need to join the richest 1% around the world
Monaco retains the top spot for the highest threshold worldwide at $12.8 million, an increase of 3.2% from a year earlier, while in Luxembourg and Switzerland one needs more than $8 million to make the cut, according to the property broker’s 2024 Wealth Report.
WORLD
Apple to wind down electric car effort after decadelong odyssey
Apple made the disclosure internally Tuesday, surprising the nearly 2,000 employees working on the project, said the people, who asked not to be identified because the announcement wasn’t public.
INDIA
Janus Henderson trims India stock bets to chase ‘value’ in Korea
South Korean authorities unveiled a “Corporate Value-Up Program” on Monday that seeks to incentivize companies that will prioritize shareholder returns.
BUSINESS
Apple met with DOJ antitrust chief in last-ditch bid to avoid expected suit
The company and its lawyers met with Assistant Attorney General Jonathan Kanter, who will make the final call on whether to file a suit, said the people, who asked not to be identified discussing the confidential meeting.
BUSINESS
Sony cuts 900 jobs in gaming, shuts down London division
Sony said the layoffs will also impact game makers Insomniac (the studio behind Spider-Man), Naughty Dog (The Last of Us) and Guerrilla (Horizon)
WORLD
Alibaba leads record deal to create $2.5 billion China AI firm
Alibaba joins Tencent Holdings Ltd. and Silicon Valley peers like Microsoft Corp. in placing big bets on generative AI, the technology that powers ChatGPT.
WORLD
Damaged subsea cable in Red sea highlights telecom vulnerability
Seacom Ltd., the South African company that controls the cable, detected a fault on Saturday, Chief Digital Officer Prenesh Padayachee said in an interview with Bloomberg on Monday.
WORLD
LNG demand will surge 50% in next decade, Woodside Energy CEO says
The outlook is one of the most bullish in the industry, as energy companies and environmentalists debate the role of gas in the world’s transition to cleaner fuels.
BUSINESS
Mizuho courting India elite shows Japan banks’ global ambition
Mizuho’s celebration with its biggest clients also underscores inroads made by Japan megabanks in the world’s most populous country as global banks look for alternatives to China.
WORLD
US says it destroys two Houthi missiles, four drones in Yemen
The strikes on Monday marked the latest effort to avert further assaults on commercial shipping in the vital waterway by the Houthis, an Iran-backed militant group that controls much of the northwest of Yemen.
WORLD
Apple and Tesla veterans aim to help Japan design AI chips
The Japanese government is funding a range of projects from research to advanced chip manufacturing, making an ambitious $67 billion bid to reclaim a central role in the semiconductor industry.
