BUSINESS
Nvidia overtakes Amazon in market value
Nvidia rose almost 0.2%, closing with a market value of about $1.78 trillion. While Amazon fell 1.2%, it ended with a closing valuation of $1.79 trillion.
SPORTS
US employers brace for about 16 million Super Bowl sick days
About 16 million people are expected to skip this year after the Kansas City Chiefs took on the San Francisco 49ers, according to an estimate based on a survey
WORLD
In Trump-Biden rematch, the only sure loser Is China
For China’s economy and its slumping stock market — down more than 40% from its 2021 high — that’s bad news. Worse, Trump’s rhetoric may add pressure on Biden to take harsher measures in the run-up to election day.
WORLD
Bitcoin eyes longest winning run in a year as ETFs attracts inflows
The digital asset rose about 1% to $48,436 as of 9:50 a.m. Monday in Singapore, poised for a seventh straight daily gain that would mark the longest such streak since January 2023 if the advance holds, data compiled by Bloomberg show.
BUSINESS
Why China is limping into the Year of the Dragon
The GDP deflator, the widest measure of prices in the economy, has fallen for the last three quarters, the longest streak since 1999.
INDIA
Foreign lawyers’ entry in India faces legal hurdle in court
A court has agreed to consider a petition contesting the move, putting overseas lawyers' ability to practise law in India at risk.
BUSINESS
S&P 500 rockets from 4,000 to 5,000 with economy humming along
S&P 500 Index surpassed 5,000 for the first time on Friday, as investors remained bullish on the strong US economy and the Federal Reserve's plans to begin decreasing interest rates later this year.
WORLD
Griffin’s Citadel Securities blasts ‘massive’ SEC market tracker
Citadel Securities and the American Securities Association, a group of brokerage firms, asked a US court to review the SEC’s approval of the funding model for the database in response to “widespread investor concerns about transparency, governance, costs and data privacy.”
BUSINESS
Paytm set for small win as India close to approving investment
Paytm’s billionaire founder Vijay Shekhar Sharma acquired 10.3% stake from Ant last year in a cashless deal that made him the biggest shareholder in One97 with just over 24% equity.
WORLD
Pakistan bonds fall as poll results delayed amid mobile shutdown
Bonds due in 2051 were indicated as much as 5 cents lower — the most since September 2022 — to trade at 60.8 cents on the dollar, while the 2029 and 2031 notes also dropped. Pakistan’s benchmark KSE-100 Index of shares fell the most in more than one month.
BUSINESS
Billionaire Adani secures ore for $1.2 billion copper smelter
The first 500,000 tons of capacity at the $1.2 billion facility in Mundra in the western state of Gujarat is set to start operations next month, according to Vinay Prakash, chief executive officer at Adani Natural Resources.
WORLD
Vladimir Putin takes hard line on Ukraine in Tucker Carlson interview
The US and its allies have rejected Russia’s demands for such capitulation, however, and there’s no sign that either side is ready for serious talks as the war nears the two-year mark.
WORLD
Grab, GoTo are said to revive talks for ride-hailing mega merger
The companies, also the food-delivery leaders in the region of more than 650 million people, are in preliminary discussions about a variety of scenarios, people familiar with the matter said.
WORLD
China stock rebound shows cracks, spoiling traders’ holiday mood
Beijing’s intensified efforts to halt the equity rout helped the benchmark CSI 300 Index stage a sharp rebound but its gains slowed before the market shut for the Lunar New Year break. A slide in Hong Kong-listed Chinese shares on Friday showed that skepticism is still running high, dampening the holiday spirits.
WORLD
SoftBank set for biggest two-day rally since 2020 as Arm surges
Arm surged 48% as artificial intelligence spending helped bolster the chip designer’s forecast. Chief Executive Officer Rene Haas said on Bloomberg Television that the opportunities presented by AI are just beginning to be recognized.
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.
BUSINESS
SoftBank vision fund sold down Paytm stake before shares plunged
The Tokyo-based tech investor saw uncertainty growing in India’s regulatory environment, as well as over Paytm Payments Bank Ltd.’s license, Navneet Govil told Bloomberg News on Thursday.
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.
