WORLD
Bitcoin and Gold both hitting all-time highs are a jarring contrast for markets
The twin peaks for the cryptocurrency and the precious metal mark the first simultaneous records for the two since Bitcoin emerged from the shadows more than a decade ago.
BUSINESS
India cautious on contracted Russian oil as US sanctions bite
The three refiners had been in talks with Russia’s Rosneft PJSC to secure about 500,000 barrels a day — equivalent to a third of India’s daily imports — to try and reduce reliance on one-off purchases that can often be more expensive.
WORLD
Jerome Powell to face pressure on rates from Democrats, bank rules from Republicans
The Fed chair heads to Capitol Hill on Wednesday and Thursday for his semiannual testimony before Congress, two years after the central bank began its aggressive battle against surging inflation.
WORLD
Bitcoin retreats after record-setting run that topped $69,000
The token jumped as much as 2.5% to $69,191.95 shortly after 10 a.m. in New York, then almost immediately reversed course in a plunge that at one point sent it 14% below the record to $59,317.16.
WORLD
Elon Musk meets With Donald Trump as former president seeks 2024 donors
The New York Times reported earlier on the meeting. Musk was part of a group of prospective donors who met with the former president, the newspaper reported, adding that it is unclear if the Tesla Inc. chief executive officer has decided to contribute to Trump’s campaign.
BUSINESS
Apple stock gloom deepens as pressure to show AI progress mounts
Investor impatience is growing, with the stock slumping 9% this year, pulling its market value below Microsoft Corp.’s.
CRYPTOCURRENCY
Memecoin frenzy reaches a crescendo on back of Bitcoin rally
The token Shiba Inu was considered the most popular in the last bull market, while Dogecoin is viewed as the original memecoin by many in the industry.
CRYPTOCURRENCY
Coinbase users saw zero balances again as Bitcoin rallies
The glitch came as Bitcoin inches toward its all-time record high of nearly $69,000. Bitcoin rose as much as 7.5% Monday, hovering near $67,000.
BUSINESS
Alibaba backs $2.5 billion AI firm in second big 2024 deal
Alibaba joins Silicon Valley peers like Microsoft Corp. in placing big bets on generative AI
BUSINESS
Blackstone’s giant property arm wants to double India warehouses
The $1 trillion asset manager expects activity to pick up after one of the slowest years for deployment
BUSINESS
Paytm can overcome setbacks to lead in Asia, says Vijay Shekhar Sharma
Sharma is fighting to put his digital-payments company back on stable footing after regulators placed severe curbs on the banking affiliate, the backbone for much of its financial and payments services.
BUSINESS
Tata Sons may be valued at up to $96 billion in IPO: Spark
The listing of Tata Sons would give a boost to India’s IPO market, which has seen a slew of companies looking to sell shares as valuations boom.
ECONOMY
India asks state refiners to pay for some oil imports in rupees
The move is aimed at promoting the Indian currency in international trade and cutting dependence on dollars, said the executives, who asked not to be named due to the sensitivity of the matter.
BUSINESS
A $50 billion India pension fund may turn to corporate bonds
Demand for longer-tenor papers has risen due to increased purchases by pension funds and insurers.
WORLD
Ather picks HSBC, JPMorgan, Nomura, Indian banks for IPO: Report
The Bengaluru-based company has also selected local banks including JM Financial Ltd. and Axis Bank Ltd. for the first-time share sale, the people said, asking not to be identified because the matter is private.
WORLD
Reddit’s Meme stock forum users threaten to bet against its IPO
In the days after the social-media company filed for an IPO, thousands of members of the WallStreetBets forum — which boasts around 15 million users and helped popularize meme stocks like GameStop Corp.
WORLD
Five takeaways from Donald Trump’s Supreme Court win in ballot case
The unsigned unanimous ruling effectively ends efforts to have Trump disqualified from running for president again under Section 3 of the US Constitution’s 14th Amendment.
WORLD
Don’t invest in China, Goldman Sachs Wealth Management CIO warns
“All our clients are asking us that question — given how cheap China appears, people inevitably say, well, has it discounted the worst news?” Sharmin Mossavar-Rahmani said in a Bloomberg Television interview. “Our view is that one should not invest in China.”
WORLD
Super Micro’s S&P 500 inclusion pushes rally near 1,000%
Shares of Super Micro Computer Inc. jumped 19% on Monday to close at an all-time high of $1,074.34 a share following news that the company is set to be added to the S&P 500 Index later this month.
WORLD
China says it will defuse financial risks at its top legislative meeting
Top officials aim to defuse risks in the property sector, local government debt, and small and medium-sized financial institutions by “addressing both symptoms and root causes,” Premier Li Qiang said in a government work report released Tuesday at the National People’s Congress meeting.
LOK-SABHA-ELECTION
PM Modi will lift trade, manufacturing in third term, adviser says
Modi’s government would target the export-oriented sectors that face high import duties which hurt their competitiveness, Arvind Virmani, a member of the government’s policy making agency Niti Aayog, said in an interview on Friday.
WORLD
China vows to mobilize nation as it fights US for tech supremacy
Beijing hammered home a longstanding goal to break an American stranglehold on key spheres, according to government work reports submitted to the nation’s legislature on Tuesday.
WORLD
Elon Musk loses world’s richest person title to Jeff Bezos
Elon Musk lost his position atop the Bloomberg Billionaires Index to Jeff Bezos after shares in Tesla Inc. tumbled 7.2% on Monday. Musk now has a net worth of $197.7 billion; Bezos’ fortune is $200.3 billion.
WORLD
China sets ambitious growth target amid push to boost confidence
Premier Li Qiang is set to officially unveil the annual goal for gross domestic product while delivering his first work report to the national parliament, which kicks off Tuesday. Matching last year’s figure will be harder as 2024 lacks the favorable comparison with the pandemic’s low base that boosted previous numbers.
