BUSINESS
Only an equities crash can rescue the bond market, Barclays says
“There is no magic level of yields that, when reached, will automatically draw in enough buyers to spark a sustained bond rally,” analysts led by Ajay Rajadhyaksha wrote in a note. “In the short term, we can think of one scenario where bonds rally materially. If risk assets fall sharply in the coming weeks.”
BUSINESS
Goldman is cautious on ‘expensive’ India stocks before polls
“The sharp rally since end-March, expensive valuations and global macro risks (high oil, high US rates, strong dollar) warrant a tactically conservative stance over the next three to six months,” analysts including Sunil Koul and Amorita Goel wrote in a note.
WORLD
Citi raises China GDP forecast, saying economy has bottomed out
Retail sales and industrial production may improve, the economists wrote Wednesday, adding that the nation’s export contraction could also narrow after official manufacturing surveys expanded for the first time in six months.
WORLD
Bond market a ‘little oversold’ after ETF pullout, Bill Gross says
Individuals owning hundreds of billions of dollars worth of bond ETFs have been “spooked” by recent losses, and they are “joining the crowd in terms of selling,” Gross said in an interview on Bloomberg Television. “We are seeing a little bit of oversold market” as 10-year Treasury yields approach 5%, he said.
CRICKET
Global giants spend $3,600 a second on cricket world cup ads
India will be hosting the tournament, which begins on Oct. 5 and runs through mid-November, guaranteeing sponsors more than a billion viewers across the world from Europe to Oceania.
BUSINESS
Spotlight still on Vedanta $3 billion debt despite spinoff plan
A streamlined structure could also help Agarwal sell unprofitable or low-growth assets — something the billionaire has long avoided.
BUSINESS
Top vaccine maker seeks growth by selling shots to globetrotters
Over the next three years, Pune-based Serum plans to start production of yellow fever and dengue shots for European and American travelers to countries where those diseases are endemic, Chief Executive Officer Adar Poonawalla said in an interview.
BUSINESS
Emerging Market Bond Yields Are Sending a Worrying Signal
The slump in US Treasuries this week has exacerbated a selloff in developing-nation debt, sending the yield on bonds in the Bloomberg EM Aggregate Sovereign Index to a one-year high of 8.93% on Tuesday.
BUSINESS
Bond Vigilantes Risk Breaking the Markets
Until the Federal Reserve finally calls time on its 18-month rate-hiking cycle, the bond-market beatings will continue.
WORLD
Global Bond Selloff Shows No Signs of Abating
The yield on 30-year US Treasuries hit 5% for the first time since 2007 on Wednesday, while the German 10-year benchmark rate climbed to 3% — a level unseen since 2011. In Japan, the 10-year overnight-indexed swaps jumped to 1% for the first time since January.
WORLD
Palantir closes in on controversial UK health data contract
The five-year contract, which may be extended by as long as two years and is worth much as £480 million ($579 million), is designed to help the agency analyze medical data, detect patterns and ultimately overhaul its entire system.
WORLD
Tesla sales drop brings BYD closest ever to global EV crown
China’s best-selling car brand came within a whisker of toppling Tesla last quarter after factory downtime led to the US automaker’s first delivery decline in more than a year.
BUSINESS
Vivek Wadhwa’s new venture aims to use breath to detect cancer
Wadhwa’s career as a public commentator won both him fame and notoriety. In a series of opinion columns in the Washington Post in the 2010s he had a habit of taking positions that rankled the Silicon Valley establishment.
WORLD
Bond rout deepens with no peak in sight for unmoored rates
The latest sign of US economic resilience unleashed a tide of selling, and traumatized investors opted to steer clear.
WORLD
Copper extends retreat to below $8,000 for first time since May
The concerns were reinforced by an unexpected increase in US job openings that highlighted the durability of the labor market.
WORLD
Treasury 30-year yield rises to highest level since 2007
The US 30-year yield rose to the highest level since 2007, deepening a bond selloff driven by expectations the Federal Reserve will keep interest rates elevated as the supply of Treasury debt grows. Shorter-term yields also reached new highs.
BUSINESS
HDFC Bank revamps top management after mega merger
The bank detailed the changes in a memo to employees late Sunday, according to people familiar with the matter, who asked not to be identified discussing private information.
WORLD
Bill Ackman Interested in a Deal to Take Elon Musk’s X Public
“I have a lot of respect for Musk,” Ackman said in the television interview. “I think Twitter is a really important platform. He’s made tremendous improvements to the platform and I think it’s a unique, very difficult to disrupt kind of asset and one that could grow into different lines of business.”
WORLD
World’s biggest vaccine maker sees malaria shot saving kids’ lives
The vaccine developed with researchers at the University of Oxford, known as R21, was recommended Monday by the WHO for use in Africa for children under five years old, the age group and continent that bear the brunt of a disease that kills more than 600,000 people a year.
BUSINESS
Evergrande seeks to renew trading after chair suspected of crime
The shares in the group and units including Evergrande Property Services Group Ltd were suspended on Thursday, a day after people familiar with the matter said the property giant’s founder had been taken away by police.
AUTOMOBILE
Mercedes-Benz takes On Tesla in cheap, hands-free driving
Mercedes-Benz is emphasizing its role as a leading provider of autonomous driving in the United States, offering its Level 3 hands-free driving service, Drive Pilot, as a $2,500 annual subscription for 2024 EQS sedan and 2024 S-Class models in Nevada and California, where it's approved. Executives celebrated this development as a significant milestone.
BUSINESS
Why a US recession is still likely — and coming soon
Despite optimism, caution is warranted in the US economy due to potential risks like a major auto strike, student loan repayments, and government shutdown threats impacting GDP growth.
BUSINESS
London on cusp of becoming biggest Stock Market in Europe, again
The combined dollar-based market capitalization of primary British listings stands now at $2.90 trillion versus France’s $2.93 trillion, according to an index compiled by Bloomberg.
BUSINESS
UAE oil giant doubles carbon capture target ahead of COP Summit
Abu Dhabi National Oil Co. plans to capture 10 million tons of carbon dioxide emissions annually by 2030, up from a previous target of 5 million tons, according to a statement.
