WORLD
Everything we know about China’s missing defense minister
Li’s absence comes just months after the ouster of other senior officials, including former Foreign Minister Qin Gang and generals in the command managing the country’s nuclear arsenal.
WORLD
US companies are the gloomiest in decades about China outlook
Just 52% of respondents to a poll by the American Chamber of Commerce in Shanghai said they were at least slightly optimistic about the business outlook in China over the next five years.
WORLD
China’s copper industry is struggling when it should be booming
The copper market, traditionally a bellwether of economic health, is finding some support from the energy transition and Beijing’s efforts to revitalize growth. But buyers lack conviction and the view from the factory floor remains cautious as margins are suppressed and profits wither.
BUSINESS
Volatility grips Indian bonds as index inclusion chatter returns
Bonds swung between gains and losses last week with traders latching on to every bit of news — be it a report that the Reserve Bank of India is asking some foreign lenders on how to handle increased inflows or the central bank changing debt investment rules for banks in line with global norms.
BUSINESS
JPMorgan sees India share sale boom reaching $30 billion in 2024
Sales of additional shares in listed companies in the country have surpassed $10 billion this year, more than the tally for all of 2022, according to data compiled by Bloomberg.
MARKETS
Stocks euphoria draws warning from Nippon Life CIO Shailesh Bhan
The chief investment officer at Nippon Life India Asset Management Ltd. says it’s increasingly difficult to find opportunities in the $3.8 trillion market, where benchmarks have just hit record highs.
WORLD
Thailand eyes India to boost tourism recovery after waiving visa for China
Srettha said he would make a trip to India this year with plans to meet his counterpart Narendra Modi and discuss increasing flight frequency between the two countries, including more services by flag carrier Thai Airways International Pcl.
WORLD
World disappointed by the UN now looks elsewhere for answers
With dozens of world leaders descending upon New York for the United Nations General Assembly’s annual gathering, global problems are showing up fast and thick at the world body’s door — with no solutions in sight. And many countries are starting to look elsewhere to do something about them.
BUSINESS
Small-cap stock takeoff adds $318 billion to emerging markets
The trade has produced an extra gain of 12 percentage points over the MSCI large-cap index so far this year, on course for the second-best relative returns in the past 14 years. Part of the reason is that large-cap companies are more likely to be exposed to China’s economic troubles.
BUSINESS
From HSBC to Citi, global banks expand maternity benefits to retain women in India
Across India, global financial firms are expanding maternity benefits to include perks rarely seen elsewhere, part of an effort to attract and retain female employees. Overall, less than a quarter of adult women in India work, among the lowest rates in the world.
BUSINESS
The world is struggling to make enough diesel
While oil futures are rocketing — on September 15 they were just below $95 a barrel in London — the rally pales in comparison with the surge in diesel. US prices jumped above $140 to the highest ever for this time of year on September 14
WORLD
The big climate march returns in an era of soup-throwing protests
On September 17 — nearly four years later to the day — climate activists will fill the streets of New York with the March to End Fossil Fuels. The march, part of three days of worldwide protests ahead of another UN climate summit, hopes to recapture some of the momentum that dissipated in 2020 when the Covid-19 pandemic halted most of these kinds of mass actions.
BUSINESS
World disappointed by UN now looks elsewhere for answers
The UN brokered a deal to export Ukrainian grain despite the conflict, only to see it collapse when President Vladimir Putin walked away, a decision that UN Secretary General Antonio Guterres said would “strike a blow to people in need everywhere".
WORLD
Flood of Russian wheat halves world prices from wartime high
The Kremlin’s war — including blockading and bombarding ports — has hobbled Ukraine’s food exports, helping cement Russia’s domination of the global wheat market.
BUSINESS
Ultra-rich buy ultra-luxury counseling to get kids into Harvard
Elite universities have long been stocked with children of the rich. But as admissions mania spirals – only about 3% of applicants get into Harvard these days – the ultra-wealthy are taking the win-at-all-costs gamesmanship to five-star heights.
BUSINESS
TikTok plans steep holiday discounts in US, bringing Amazon price war
It is offering to subsidize discounts of as much as 50% to entice sellers’ participation in its Black Friday program, which begins Oct. 27 and runs through Nov. 30, according to the documents. A TikTok spokesperson confirmed the plans.
BUSINESS
A $188 billion exodus shows China’s heft fading in world markets
Foreign holdings of the nation’s equities and debt have fallen by about 1.37 trillion yuan ($188 billion), or 17%, from a December-2021 peak through the end of June this year, according to Bloomberg calculations based on the latest data from the central bank.
BUSINESS
Gold trading hasn’t been this boring since the pandemic began
Six-month historical gold volatility slumped to the lowest since February 2020 on September 15.
BUSINESS
Apple iPhone 15 Pro deliveries slip to October in sign of demand
Four iPhone 15 models became available for pre-order on September 15 in several countries.
BUSINESS
Adidas releases $500 running shoe as fall marathon season starts
The Adizero Adios Pro Evo 1 is the German company’s lightest ever racing shoe, it said. Weighing 138 grams (4.9 ounces), it’s 40% lighter than Adidas’s most recent talked-about marathoning shoe, the Adizero Adios Pro 3. It’s also twice the price of that model.
BUSINESS
SoftBank left millions on the table to engineer a win for Masayoshi Son
While Arm is now a public company, it will still answer to SoftBank, its largest investor with a 90% stake.
BUSINESS
Billionaire Peugeot clan wades into banking, Italian luxury
Peugeot Invest, the listed firm controlled by the French clan and headed by Robert Peugeot, now holds 5.1% of Rothschild & Co. bank following the successful completion of a take-private move, according to an earnings presentation September 15.
BUSINESS
G-7 plans to ban imports of Russian Diamonds, says Belgium
The mechanism will consist of a direct ban on purchases, which would take effect on Jan. 1, as well as indirect ban, which would kick in more gradually, the official added.
BUSINESS
Japan’s largest cosmetics firm Shiseido bets on India growth with first launch in a decade
Japan’s largest cosmetic company has partnered with Indian retailer Shoppers Stop Ltd.’s Global SS Beauty Brands and will open 14 stores in New Delhi and Mumbai this year, said Nicole Tan, head of Asia Pacific at Shiseido. It will also market NARS through LVMH Moet Hennessy Louis Vuitton SE’s Sephora shops, she said.
