WORLD
Xi Jinping can’t use 2015 playbook to calm China markets, investors say
Signaling the growing alarm, China abruptly ousted its market chief Yi Huiman on Wednesday, rolling out another hallmark of the near decade-old blueprint to boost stocks.
WORLD
Vladimir Putin takes hard line on Ukraine in Tucker Carlson interview
“We haven’t yet achieved our goals,” Putin said in the interview in Moscow, which Carlson posted on his website Thursday. It’s the first time the Russian leader has given an interview to a western media figure since he ordered the February 2022 invasion of Ukraine.
BUSINESS
Apple’s Vision Pro headset is being resold for $5,000 overseas
Cupertino, California-based Apple put the Vision Pro on sale in a limited number of stores in the US at the start of this month, with an elaborate setup and customization process for each buyer.
WORLD
Saudi Arabia lines up Goldman, Citi for Aramco share sale
The world’s biggest oil exporter is also in talks with other banks as it pulls together a roster of advisers for the offer that may come in the next few weeks, the people said, asking not to be identified because the information is private.
WORLD
SoftBank swings to profit lifted by big T-Mobile windfall
The Tokyo-based technology investor reported a net income of ¥950 billion ($6.4 billion) for the December quarter, reversing a ¥783 billion loss for the same period a year ago.
WORLD
As China markets flail, rest of the world is roaring ahead
Yet powered by the US tech euphoria, global equities are approaching records, haven assets are out of favor and even neighboring Asian markets are relatively unscathed.
BUSINESS
BAT rises on signs of offloading stake in India’s ITC
BAT has “been actively working for some time on completing the regulatory process required to give us the flexibility to monetise some of our shareholding,” it said in full-year results, released Thursday.
BUSINESS
India eyes $100 billion investment deal with Switzerland, Norway
The European Free Trade Association, which comprises Switzerland, Norway, Iceland and Liechtenstein, made a commitment to invest in India as part of a trade pact that’s in the final stages of negotiations, the people said, asking not to be identified as the talks are still ongoing.
WORLD
SoftBank shares jump after Arm’s bullish forecast surprises
Arm said revenue in the three months ending in March will be $850 million to $900 million, far higher than the average analyst estimate of $778 million. The UK chip designer’s shares soared in after-hours trading, bringing the company’s value closer to $100 billion.
WORLD
India eyes $100 billion investment deal with Switzerland, Norway- Bloomberg News
The European Free Trade Association, which comprises Switzerland, Norway, Iceland and Liechtenstein, commited to invest in India as part of a trade pact that’s in the final stages of negotiations, sources said
BUSINESS
Tesla asks which jobs are critical, stoking layoff fears
Tesla sent out the single-line query for each job after canceling some employees’ biannual performance reviews, some of the people said.
WORLD
Inside Turkish central banker downfall that was months in making
For her critics inside the central bank and in Turkey’s corridors of power, the end to Erkan’s almost eight months at the helm was the culmination of her clashes with staff and ultimately a power play that misfired, according to people with knowledge of internal deliberations, who asked not to be identified because they’re not authorized to speak with the media.
BUSINESS
Star China funds turn to duds in 2024 as stocks rout gets ugly
Most of its holdings are small-cap stocks, which as a category have suffered steep losses lately.
WORLD
China replaces top markets regulator as Xi tries to end rout
Wu Qing, a banking veteran who earned the reputation as “the broker butcher” when he led a crackdown on traders in the mid-2000s, is replacing Yi Huiman as chairman and party chief of the China Securities Regulatory Commission, according to the official Xinhua News Agency.
BUSINESS
India is considering to extend parboiled rice tax in risk to world supply
The government of Prime Minister Narendra Modi, who will seek a third term in the polls due in the first half of this year, is considering keeping the export levy at 20%, according to people familiar with the matter.
WORLD
Everything China is doing to rescue its battered stock market
The benchmark CSI 300 Index has gained 5.2% so far this week.
WORLD
Singapore wealth fund shuffles leadership, appoints Sam Kim as COO
Deputy group chief operating officer Tay Lim Hock will step down and be replaced by his deputy Sam Kim, according to a statement Wednesday.
WORLD
China pledges to strengthen support for EVs amid trade headwinds
The ministries of commerce, foreign affairs and customs as well as four other government agencies on Wednesday called EV exports a “key pillar” in optimizing China’s foreign trade.
WORLD
China’s new year buyers look to gold as stocks and property crash
While the holiday season usually drives increased spending on items like jewelry, reports of robust demand this year are remarkable because the shopping season happens to coincide with a stock market crash.
WORLD
Bolivia cut deeper into junk by Fitch on falling reserves
Fitch cut the country to CCC from B- on Tuesday, after reserves dipped by $2.1 billion last year to just $1.7 billion, most of which is held in gold, the ratings company said. The landlocked South American nation has struggled to prop up its currency, the boliviano, which is pegged at a rate close to 7-per-dollar.
WORLD
China share buybacks climb to three-year high amid market slump
Firms listed in mainland China and Hong Kong spent 14 billion yuan ($1.9 billion) and HK$21 billion ($2.6 billion) repurchasing shares last month, respectively, each marking a record since 2021 when Bloomberg began compiling the data.
WORLD
SoftBank’s Masayoshi Son is poised for best quarter in years as arm jumps
The Tokyo-based investment firm is expected to report net income of ¥373 billion ($2.5 billion) for the three months ended December, according to a Bloomberg average of five analysts.
WORLD
NYCB’s tense talks with watchdog led to moves that rocked market
Two senior executives left their posts in the months before the bank unveiled its measures, one of the people said.
WORLD
NYCB’s credit grade is cut to junk by Moody’s
The rating company downgraded New York Community Bancorp’s long-term issuer rating by two levels to Ba2, citing unanticipated losses in its New York office and multifamily properties, pressure on earnings and a decline in its capitalization.
