INDIA
Why retiring in India no longer requires living with the kids
Indian culture places paramount importance on respect for elders, with multigenerational households the norm.
WORLD
Antarctica’s shrinking sea ice hits a record low, alarming scientists
Peak Antarctic ice coverage during the region’s winter — which is the northern hemisphere’s summer — likely occurred on Sept. 10. On that date sea ice stretched over 16.96 million square kilometers, after which it began to shrink, the NSIDC said. This took place almost two weeks earlier than the median date of September 23 between 1981 and 2010.
WORLD
China puts Evergrande’s billionaire founder under police control
Hui Ka Yan Hui was taken away by Chinese police earlier this month and is being monitored at a designated location, the people said, asking not to be identified because the matter is private.
WORLD
CVC mulls sale of controlling stake in HealthCare Global
The private equity firm is looking to identify buyers for its 60.4% in the Mumbai-listed company, said the people, who asked not to be identified as the information is private. CVC’s stake is worth about $345 million, according to data compiled by Bloomberg.
BUSINESS
JPMorgan to block crypto payments from Chase UK bank accounts
Chase UK clients will no longer be able to make crypto transactions via debit card or by outgoing bank transfer from Oct. 16, according to an email sent to customers.
BUSINESS
Google DeepMind alum raises $14 million for new AI venture firm
Vishal Maini, a former DeepMind researcher, founded Mythos earlier this year and has raised $14 million from more than four dozen investors, according to a filing this month.
WORLD
Apple’s $59 Fake-Suede iPhone Case Is Its Biggest Dud of 2023
Consumers and reviewers haven’t seen it that way. The fabric, which Apple calls FineWoven, has been panned for being prone to scratches and stains — with an almost-slippery feel that’s off-putting to some.
WORLD
Taliban controls the world’s best performing currency this quarter
The currency controls, cash inflows and other remittances have helped the afghani climb around 9% this quarter, outpacing the likes of the Colombian peso’s 3% gain, data compiled by Bloomberg show.
WORLD
Emmanuel Macron is pushing europe into $900 billion fight with China
The government in Paris has taken a key role in driving the policy shift, according to people familiar with its thinking, calculating that inaction now would put the bloc’s economy on a path to long-term damage.
WORLD
China scoops up cheap Indian iron ore in bid to trim steel costs
India will continue to sell about 3 million tons a month to global markets for rest of the year, CRU Group said.
WORLD
Goldman CEO David Solomon dismisses calls to end ties to fossil-fuel firms
Last year, the vast majority of energy in the world came from fossil fuels, and emissions grew, Solomon said, adding that “we recognize there needs to be a transition over time but that transition is going to take time.”
WORLD
TikTok shopping ambitions face blow as Indonesia plans curbs
Indonesia is prohibiting social media companies from facilitating direct e-commerce payments on their platforms, Trade Minister Zulkifli Hasan said Monday.
BUSINESS
JPMorgan adding India bonds will see public finances scrutinized
JP Morgan Chase & Co.’s plan to include Indian government bonds to its emerging markets bond index next year will draw scrutiny from foreign investors on public finances, particularly on efforts to cut the budget deficit.
ENTERTAINMENT
Bollywood, cricket hold promise for media stocks after rally boosts valuations
Media-related stocks have been all the rage in India, thanks to a mega merger involving a unit of Japan’s Sony Group Corp., and the return of Bollywood blockbusters. Investors are now weighing the sector’s pricey valuations against the potential for future growth.
WORLD
AI, robots and satellite sensors are helping in the fight against wildfires
This year has been a challenging one for Phil Schneider, who hasn’t seen wildfire behavior like this in his 47-year firefighting career.
WORLD
OpenAI gives ChatGPT the ability to speak in five different voices
The feature will be available to people who subscribe to OpenAI’s $20-per-month ChatGPT Plus service and enterprise users.
WORLD
Amazon to invest as much as $4 billion in AI startup anthropic
As part of the deal, Anthropic will move most of its software to Amazon Web Services data centers, and use the cloud computing company’s homegrown chips to train the models it uses to power chatbots and other applications.
BUSINESS
Foreigners set for bigger play in $1 trillion India bond market
That is set to change after JPMorgan Chase & Co. Thursday became the first global index provider to include them on its emerging markets index. The decision sets the stage for billions of dollars of inflows just when the bond market is straining under record government borrowings.
WORLD
China installs barrier in disputed sea shoal, Philippines says
The floating barrier which measures about 300 meters (328 yards) was installed by three inflatable boats of the Chinese Coast Guard and a service boat of the Chinese maritime militia, according to the post.
WORLD
Chinese gold buying is driving a paradigm shift in bullion
Gold is the quintessential “anti-dollar” — a place to turn for those who distrust fiat currency — so it seemed natural that prices would rise in a world of low real interest rates and cheap dollars. Or when rates went up, gold, which pays no yield, naturally became less attractive, sending prices tumbling.
WORLD
Capcom sees game sales in India passing those in China in decade
Key to the Osaka-based company’s strategy are securing local tie-ups to lift the profile and sales of its PC games in emerging markets and expanding its offerings of console-quality titles to smartphones, the 58-year-old executive said in an interview. India is a focus area, he said.
WORLD
China’s PLA warns cadres about socializing with ‘wrong people’
Chinese military cadres should “purify their social circle,” a commentary published by the state-run PLA Daily said on Friday, without elaborating on the leaders who were removed from their posts.
BUSINESS
Hollywood studios, writers near deal but AI issue lingers
The studios have agreed to staff a certain number of writers on their TV shows, a figure that will increase with the number of episodes in a season.
INDIA
India rice export ban is fueling risk of social unrest, UN says
The export ban is bringing back memories of 2008, when a global rice crisis put 100 million people at risk, many in sub-Saharan Africa. Back then, both Vietnam and India restricted exports.
