BUSINESS
Binance loses Indian traders to domestic rivals like WazirX
Binance's split from WazirX in 2022 seemed advantageous, but a government crackdown on offshore platforms has shifted dynamics, impacting the world's largest cryptocurrency exchange in the Indian market.
BUSINESS
Goldman sees India’s rising affluent class buy up premium goods
Goldman Sachs predicts Indian luxury goods companies to outperform broader competitors, fueled by the expected doubling of the affluent class to 100 million people in three years.
BUSINESS
BlackRock Names Cohen, Lord to Top Posts, Ramji to Step Down
BlackRock Inc. undergoes management restructuring, introducing a global product strategy group led by Stephen Cohen, focusing on ETFs and integrating active and index strategies.
BUSINESS
Narco crisis a world away drives rally in India shrimp companies
Indian shrimp stocks surge amid speculation of supply disruption in Ecuador, a top exporter facing narco gang terror threats.
WORLD
Supersonic Jet that curbs window-shattering sonic boom to debut
The X-59, to be unveiled on Friday afternoon in Palmdale, California, has been designed to fly faster than the speed of sound (about 760 mph at sea level) with much less noise.
BUSINESS
Citigroup to cut 20,000 roles in Fraser’s bid to boost returns
Fraser in September initiated the biggest restructuring of Citigroup in decades
BUSINESS
BlackRock names Cohen, Lord to top posts, Ramji to step down
BUSINESS
BlackRock buys infrastructure firm GIP for $12.5 billion in major alternatives push
BlackRock will pay $3 billion of cash and about 12 million shares, worth about $9.5 billion at Thursday’s close, and the deal is expected to close in the third quarter.
BUSINESS
Vedanta cut to selective default by S&P after debt extension
The junk-rated miner said last week its bondholders approved the changes after months of talks to tackle more than $3 billion of bonds maturing in 2024 and 2025. Under the deal, the company will pay $779 million upfront, with the remaining principal extended by as much as four years.
WORLD
China’s worst deflation streak in 14 years puts pressure on PBOC
The consumer price index slipped 0.3% in December from a year earlier, in line with economists’ expectations for a third straight month of declines.
WORLD
What the US-led airstrikes on Yemen likely mean for oil prices
The attack represents a major escalation of tensions in the Middle East that have been simmering since the Hamas attack on Israel in early October.
WORLD
China’s exports drop for first time since 2016 as demand cools
The country sold $3.38 trillion worth of goods to the rest of the world last year, a 4.6% drop from the record a year earlier.
WORLD
China’s consumer prices in longest streak of declines since 2009
China’s consumer price index slipped 0.3%, the national statistics bureau said in a statement Friday, the longest streak of declines since October 2009. Economists expected a 0.4% drop.
WORLD
China seen cutting rate, boosting cash to support economy
The People’s Bank of China is expected to lower the rate on its one-year policy loans — called the medium-term lending facility — by 10 basis points to 2.4%, according to the median estimate in a Bloomberg survey of 15 economists. That would be the first trim to the rate since a surprise 15-basis-point reduction last August.
WORLD
NASA says there’s no evidence of drug use at Elon Musk’s SpaceX
Questions about Space Exploration Technologies Corp.’s compliance with those requirements have arisen after a Jan. 6 report in The Wall Street Journal about Musk’s history of recreational drug use, including ketamine, LSD, cocaine, ecstasy and psychedelic mushrooms.
WORLD
US inflation accelerates in Dec, tempering case for fed to cut rates
The consumer price index increased 3.4% in the year through December, the most in three months according to government figures.
BUSINESS
Bitcoin volume jumps as us spot ETFs tied to token begin trading
Bitcoin’s price advanced as much as 3.8% to reach an intraday high of $47,705 on Thursday, according to data compiled by Bloomberg
WORLD
Davos World Economic Forum: Here’s where to eat and drink
The marquee attendees will not be making spontaneous reservations; they’ll be sitting at white-cloth-covered tables at restaurant takeovers and private events that were booked months ago.
TECHNOLOGY
CES highlights: Climate-centric future of consumer tech
WORLD
Elton John will auction millions in art and antiques from Atlanta home
Eight separate sales at Christie’s New York will feature around 900 lots estimated at more than $10 million total.
WORLD
Volodymyr Zelenskyy arrives in Estonian capital amid tour of Baltic states
The Ukrainian president is being accompanied by Foreign Minister Dmytro Kuleba, according to a statement posted Thursday on social media platform X by Estonian Foreign Minister Margus Tsahkna.
BUSINESS
RBI’s Shaktikanta Das warns against ‘Algorithm-based’ lending by banks
Model based, algorithm lending can “lead to a potential crisis,” Das said in a speech at an annual banking event hosted by Mint newspaper in Mumbai on Thursday. Banks and non-bank financial companies “must appraise robustness of models used for lending,” he said.
WORLD
Singapore, Malaysia weigh passport-free travel to boost commerce
The pact to establish the area — where companies operate with little regulation or government interference — in Malaysia’s southern Johor state will boost business activity and improve connectivity, according to a joint statement.
WORLD
These are the world’s most powerful passports in 2024
For the past five years Singapore and Japan have boasted the world’s most powerful travel documents, granting their citizens access to more countries without a prior visa than anyone else. This year, however, things have changed.
