BUSINESS
Nvidia set to top $2-trillion valuation in first for chipmakers
The chipmaker’s shares rose as much as 2.7% in premarket trading on Friday after closing at a $1.96 trillion valuation in the previous session.
BUSINESS
Pimco inflows are ‘stunning’ this year, Allianz chief says
The bond giant had an “absolutely stunning” development this year, Oliver Baete, chief executive officer of Pimco parent Allianz SE, said in an interview Friday
BUSINESS
GQG’s Adani investment reaches $10 billion as stocks bounce back
The fund’s initial investment of $1.9 billion in March has ballooned to $10 billion in value, helped by market gains and additional stakes, according to fund manager Sudarshan Murthy.
WORLD
Why it took the US 51 years to get back on the Moon
At 6:23 p.m. New York time Thursday, Intuitive Machines Inc. landed a robotic spacecraft on the moon, becoming the first private firm to place a vehicle intact on the lunar surface.
BUSINESS
Indian steel mills seek iron ore export ban as China sales jump
Indian exports jumped 170% to 44 million tons last year — most of which went to China — at a time when domestic demand for the raw material is rising. That’s prompted the worst-affected sections of the industry to seek restrictions from the authorities to protect their margins.
WORLD
The next plane seats are made from cactus skin and fishing nets
The economy-class seat from German manufacturer Recaro Aircraft Seating GmbH features recycled foam taken from old mattresses, and armrests containing wood and a cork compound. There’s a mesh pocket on the back made from fish netting.
WORLD
Nvidia’s surge puts CEO Jensen Huang on cusp of cracking world’s 20 richest
Huang’s wealth jumped $9.6 billion to $69.2 billion Thursday, a gain that leapfrogged him ahead of Charles Koch and Chinese bottled-water tycoon Zhong Shanshan to 21st place on the Bloomberg Billionaires Index.
WORLD
Nvidia H100: This is the chip behind AI’s supersonic stock rally
The H100 data center chip has added more than $1 trillion to Nvidia’s value and turned the company into an AI kingmaker overnight.
BUSINESS
Foreigners pursue every avenue to access hot India bond trade
Foreign funds lacking direct access to India’s $1 trillion government debt market are increasing their exposure via instruments such as supranational bonds and swaps ahead of the nation’s upcoming inclusion in global bond indexes.
WORLD
Nvidia tops Meta record with $277 billion surge in value
Shares of the chipmaker jumped 16% Thursday, adding about $277 billion in market capitalization and bringing its total market value near $2 trillion. The addition eclipsed the $197 billion gain made by Facebook-parent Meta at the start of the month.
WORLD
Nestle forecasts revenue slowdown as inflation eases
Revenue should increase about 4% in 2024 on an organic basis after gaining 7.2% last year, Nestle said Thursday. The company also expects a 6% to 10% gain in underlying earnings per share.
WORLD
Pressure grows on China for big policy moves to fix economy
The start of the year saw Chinese stocks tumbling to five-year lows on growth concerns and deflation deepening to levels unseen since the global financial crisis, prompting comparisons with the 2015 turmoil that forced policymakers into action.
WORLD
Japan Nikkei hits record high last seen more than 30 years ago
The Nikkei 225’s stellar rally over the past year caps a recovery that’s made the nation’s equities a top pick among global funds after being overlooked in favor of faster-growing markets like China.
BUSINESS
LNG tankers may be converted to floating storage in India
The units, with a capacity of 138,000 cubic meters each, are currently being leased by Petronet LNG Ltd. to import the super-chilled fuel from Qatar.
WORLD
Nvidia surges after AI boom shows no signs of letting up
Revenue in the current period will be about $24 billion, the company said in a statement Wednesday. Analysts had predicted $21.9 billion on average. Results in the fourth quarter also sailed past Wall Street estimates.
TECHNOLOGY
Wireless charging for electric cars inching closer to reality
Multiple startups have spent years working towards a world in which wireless charging goes mainstream, and as EV adoption picks up, momentum is building to make that dream a reality
BUSINESS
JSW Steel sounds out banks for $750 million loan
The Mumbai-based firm’s need for cash has been growing as it aims to almost double its steel output to 50 million tons by the end of the decade to meet rising demand from construction, energy and autos
BUSINESS
China tightens grip on stocks with net sale ban at open, close
The order from China’s securities watchdog was recently delivered to major asset managers and the proprietary trading desks of brokerages, according to people familiar with the matter
BUSINESS
India’s tech leaders jockey for slice of $300 billion AI market
From DeepMind Technologies co-founder Mustafa Suleyman to Stanford researcher Fei-Fei Li, some of the field’s biggest names debated this week in Mumbai how India — the country that pioneered the $250 billion IT outsourcing industry — can become a player in the transformative technology
WORLD
Saint Gobain considers buying Australian rival CSR
The two companies have held initial talks and are working with advisers to reach a deal, said the people, who asked not to be identified because the matter is private. Paris-based St. Gobain has lined up financing for a potential transaction, the people said.
WORLD
HSBC CEO Noel Quinn pay almost doubles as bonus pool hits decade high
The overall bonus pool rose by 12% in 2023, bucking a trend of tepid bonuses across the industry amid weak deal flow and job cuts.
BUSINESS
AI model backed by Asia’s richest person to launch in March
The BharatGPT group, encompassing an arm of India’s most valuable company and eight affiliated universities, offered a sneak peek of the large language model Tuesday during a technology conference in Mumbai.
WORLD
Emerging-market stocks erase 2024 losses after January rout
The MSCI Emerging Markets Index rose as much as 0.7% Wednesday, putting it on course to close above the level of 1,023.74 set on the last trading day of 2023.
BUSINESS
India banks’ rush for clients set for reckoning after Paytm
India stunned investors last month by abruptly suspending most activities of the banking affiliate of Paytm, a once high-flying fintech star that had attracted backing from Warren Buffett and SoftBank Group Corp.
