BUSINESS
Davos in the Desert: Saudi investment plans complicated by Israel-Hamas War
While Europe is dealing with the impacts of Russia’s invasion of Ukraine, the war between Israel and Hamas is bringing the region’s political fissures back to the forefront of everyone’s mind.
BUSINESS
Qatar Airways’ longstanding CEO Al Baker to step down
“It has been an incredible privilege to lead such an exceptional global team, & the honour of a lifetime to serve my country,” the CEO said in the memo, according to aviation consultant Alex Macheras, who posted the excerpt earlier on X.
BUSINESS
Disney said to near multibillion-dollar India deal with Reliance
The US entertainment giant may sell a controlling stake in the Disney Star business, which it values at around $10 billion, as opposed to piecemeal transactions weighed earlier, the people said, asking not to be named because the discussions are private.
BUSINESS
Chevron to buy Hess for $53 billion in latest oil megadeal
In an all-stock transaction, Chevron will pay $171 per share for Hess, according to a statement from the companies on Monday.
WORLD
Israel- Hamas crisis: West steps up efforts to prevent wider conflict
The prime ministers of the Netherlands and Greece are due in Israel Monday, and French President Emmanuel Macron on Tuesday.
HEALTH
Merck, Seagen drug cocktail seen as new bladder cancer standard
The Merck-Seagen combination helped patients nearly live twice as long — an average of 31.5 months — as those that got chemotherapy alone, in a large study presented on Sunday at the European Society for Medical Oncology’s annual meeting.
BUSINESS
British rice industry fears India pact will kill off local mills
With India pressing for tariffs on white rice to be slashed, and little feedback from British trade officials, concerns are mounting for an industry that employs more than 3,000 people at 16 mills and processing plants scattered from Kent in southern England to Yorkshire in the north.
BUSINESS
Apple supplier Foxconn to work with China on unspecified probes
Tax authorities are conducting checks on Foxconn subsidiaries in Guangdong and Jiangsu provinces, the state-run Global Times said Sunday, citing unidentified people with knowledge of the matter.
WORLD
Dalio’s Abu Dhabi Penthouse Shows Rise of New Hedge Fund Hubs
From a penthouse overlooking the Persian Gulf, one of the world’s biggest hedge fund fortunes is feeling increasingly at home.
TECHNOLOGY
Business schools grapple with how to teach artificial intelligence
How are B-schools preparing the next generation of leaders to most effectively use and apply artificial intelligence in business?
INDIA
Govt plans stricter local material norm for solar module makers
India is considering tightening domestic content requirements for the nation’s solar module makers, who are currently relying on imports of key ingredients such as solar cells.
BUSINESS
How Bankman-Fried allegedly spent billions in customer funds before FTX collapse
Bankman-Fried is accused of using billions of customer funds from FTX to spend lavishly and engage in speculative trading through Alameda Research, FTX’s sister hedge-fund.
BUSINESS
Siemens Energy weighs new turbine design after billions lost
Munich-based Siemens Energy is struggling to get on top of what has turned into one of Germany’s biggest industrial debacles.
BUSINESS
Emerging Market losses deepen as treasury yields edge towards 5%
This week’s losses on the MSCI benchmark equity index have surpassed 2%, while most currencies are also trading weaker. Foreign-exchange markets most correlated with the global macroeconomic outlook — the South Korean won and the South African rand — were among the biggest laggards.
BUSINESS
Adani group closes in on $3.5 billion loan, among Asia’s biggest
The deal, which would be among the top 10 biggest loans in Asia this year, could be sealed this week, according to people familiar with matter, who asked not to be identified because the matter is private.
WORLD
Emirates adds premium economy on A380 superjumbo India flights
The premium economy cabin on the double decker Airbus SE A380 jets feature 56 cream-colored seats at the front of the main deck in a 2-4-2 configuration, Dubai-based Emirates said at a briefing in Mumbai on Thursday.
WORLD
CEO departures hit highest level on record
The government and nonprofit sector topped the list for CEO turnover, with more than 350 leaving their posts this year, up more than 85% over the same period last year.
BUSINESS
Jerome Powell signals Fed to stay on hold and keep future hike on table
The comments effectively affirm market expectations for the Fed to skip a rate increase for a second straight meeting when officials gather on Oct. 31 and Nov. 1.
BUSINESS
Tata Group considers topping up another $1 billion for super-app arm
The injection is on top of the $2 billion that Tata Group invested in the venture earlier this year, the people said, asking not to be identified discussing information that is private.
WORLD
Nestle revenue growth ebbs to weakest pace since late 2020
Revenue rose 6% on an organic basis in the third quarter, the company said Thursday, just missing analyst forecasts. A measure of volume posted a fifth consecutive decline.
WORLD
HSBC blocks staff from texting on their work phones
The firm is in the process of disabling the function on employees’ company-issued phones, meaning they will be unable to send or receive text messages, according to people with knowledge of the matter.
WORLD
China’s strong GDP report shows housing remains a big problem
China’s economic challenges come in the face of persistent geopolitical tensions, as the US tightens curbs on advanced technology and Europe probes the country’s export dominance in electric cars. Economists surveyed by Bloomberg expect China’s growth in 2024 to slow to 4.5%.
WORLD
Bezos-backed startup Convoy prepares for sale, slashes jobs
The once-buzzy startup, often described as the Uber for trucking, has already whittled its staff down to about 500 people from a peak of 1,500, and was on track to run out of money in a matter of weeks, said people familiar with the matter.
WORLD
OpenAI is in talks to sell shares at an $86 billion valuation
The artificial intelligence startup behind ChatGPT is negotiating the transaction, known as a tender offer, with potential investors, said the people, who asked not to be identified discussing confidential information.
