WORLD
Geopolitics is biggest market risk in 2024, investor poll shows
“The biggest macroeconomic risk for 2024 is geopolitical bad actors who with one action can upset economic and market assumptions globally,” the poll of 500 institutional investors from around the world found.
BUSINESS
Adani contractor probed by India resurfaces under a new name
In April 2016, PMC’s engineering business was folded into Howe, according to court filings. Howe has remained an Adani contractor for some of the largest ports and railway lines presently under construction in India, recent filings analyzed by Bloomberg show.
BUSINESS
India’s potential growth rate increased to 7%, Axis says
The projection for the economy’s potential growth rate is based on higher capital investment in the real estate and private sector, Neelkanth Mishra, chief economist of Axis Bank, said at a briefing on Monday in Mumbai. These segments of the economy slowed down during the 2012-2019 period.
BUSINESS
A record high is in the cards for US stocks in 2024
A median of 518 respondents expect the S&P 500 to climb to 4,808 points next year — topping its previous closing peak of 4,797 hit in January 2022 — and the 10-year Treasury yield to drop to 3.8 percent from this year’s high of 5 percent.
WORLD
Fed starts to confront the next big question: why to cut rates
After holding policy steady for the third straight meeting this week, Fed Chair Jerome Powell and his colleagues are expected to use their “dot-plot” to forecast rate cuts in 2024 – though probably not nearly as many as investors and economists are expecting.
BUSINESS
Rajiv Jain-led GQG’s $10 billion India bet has winning picks beyond Adani
The value of India investments across six of GQG’s funds jumped to $9.9 billion compared with $4.4 billion a year earlier, according to data compiled by Bloomberg from latest regulatory filings and information on the Florida-based investor’s website.
BUSINESS
Wall Street gets ready to cash in on $1 trillion climate market
Banks that have been building up carbon trading and finance desks include Goldman Sachs Group Inc., Citigroup Inc., JPMorgan Chase & Co. and Barclays Plc.
WORLD
Standout emerging-market bond bet set for another boost in 2024
Central banks in many developing economies have sped ahead in the fight against inflation, hiking — and then cutting — interest rates far faster than their policymaking peers in the US and Europe.
WORLD
The money food badly needs for climate fight is rolling in
They’re part of the arsenal the world needs for food’s contribution to the climate fight, and they’re getting a big cash boost.
WORLD
Here’s how the EU will regulate advanced AI models like ChatGPT
All developers of general purpose AI systems – powerful models that have a wide range of possible uses – must meet basic transparency requirements, unless they’re provided free and open-source, according to an EU document seen by Bloomberg.
WORLD
Saudi Arabia eyes majority control of London’s Heathrow Airport
At least one shareholder is close to selling its stake
WORLD
ECB’s Stournaras urges focus on climate change’s economic impact
The European Union last week gave more powers to the continent’s banking watchdog, expanding its remit to include risks linked to climate change and the rise of digital assets.
TECHNOLOGY
India’s plan for 50,000 E-buses on its roads gets US support
The $390 million fund will act as a guarantee for manufacturers seeking loans to expand production, Indian and US officials said at a side event at COP28. India currently only has 12,000 e-buses in operation.
WORLD
Australia will announce Its strategy for slowing immigration
“The new strategy we’ll announce will bring immigration back to sustainable levels,” he told reporters Saturday in Sydney. “We need to have a migration system that enables Australia to get the skills that we need, but make sure the system is working in the interests of all Australians.”
BUSINESS
Microsoft's OpenAI investment risks scrutiny from US, UK regulators
Microsoft didn’t report the transaction to the agency because the investment in OpenAI doesn’t amount to control of the company under US law, a source said
WORLD
Jack Dorsey’s block furthers bitcoin foray with new hardware wallet
Called Bitkey, the wallet allows users to self-custody the cryptocurrency on a hexagon-shaped hardware device. While similar products have been available for a while, the majority of crypto assets are still held on trading platforms.
BUSINESS
Foreigners turn bullish on India stock futures after PM Modi’s wins
Overseas funds held 31,549 more long index futures contracts than short contracts as of Thursday, turning to a net bullish position a day earlier for the first time since September, according to exchange data compiled by Bloomberg.
WORLD
Cathay Pacific buys six A350 freighter aircraft from Airbus
The Hong Kong carrier will buy six A350 freighters and secured the rights to a further 20 of the cargo jets, it said in a statement Friday. Deliveries will start from 2027 and should be completed by the end of 2029.
BUSINESS
Adani Green lays out initial plan for repaying $750 million bond
Adani Green Energy Ltd., part of billionaire Gautam Adani’s empire, will redeem the notes in full by the due date, it said in a filing to the Singapore stock exchange. It said the bond’s underwriters will provide a funding letter for $675 million. The filing also lists $75.47 million in restricted reserves.
BUSINESS
Tata plans new iPhone factory to hasten Apple’s India expansion
Tata wants to construct the factory in Hosur in the southern Tamil Nadu state, according to people with knowledge of the matter.
WORLD
ECB’s Lagarde squeezed as markets boost 2024 rate-cut bets
With rapidly weakening inflation, a feeble economy, and one hawkish policymaker changing tack, traders are heaping bets on a reduction as soon as March.
INDIA
India taps Nigeria, Argentina, Philippines to sell fighter jets
Discussions with Nigeria, Philippines and Argentina to export the Tejas fighter jets are progressing, C. B. Ananthakrishnan, chairman of Hindustan Aeronautics, told reporters in New Delhi.
WORLD
Meta tests new AI features across apps in bid to boost appeal
The company is currently testing more than 20 different generative AI features from search to ads, business messaging and more, across Facebook, Instagram, Messenger and WhatsApp. Eventually it will apply those tools globally.
WORLD
China’s exports expand from Covid-hit period a year ago
Overseas shipments in dollar terms rose 0.5% from a year ago, the General Administration of Customs said Thursday. That’s slightly better than the median economists’ forecast of no change, and marked the first year-on-year expansion since April.
