WORLD
Elon Musk’s X is worth less than half of price he paid for Twitter
Restricted stock units awarded to employees value the company at $19 billion, or $45 a share, according to a person familiar with the matter. A year ago, Musk bought Twitter Inc. for $44 billion.
WORLD
Clothing makers find it hard to break with China’s supply chain
But amid mounting global economic uncertainties and weakening consumer demand, many are discovering that finding alternative production hubs comes with its own challenges. Some are even upping stumps and moving back to the mainland.
BUSINESS
Debut of 50-year bond in India lures insurers hungry for yields
The government plans to sell 100 billion rupees ($1.2 billion) of a 2073 bond on Friday, according to the Reserve Bank of India. Bajaj Allianz Life Insurance Co. Ltd. and HDFC Life Insurance Co. Ltd. anticipate demand for the paper will be strong as insurers try to lock in higher yields to take care of long-term commitments.
BUSINESS
Broadcom sees $61 billion VMWare deal closing despite China wait
The companies didn’t say in a joint statement on October 30 how close they might be to an approval from Chinese regulators — the last major hurdle to completing the deal.
BUSINESS
Natura gains on exclusive talks for sale of The Body Shop
Natura and Aurelius are still negotiating terms, and there is “no assurance” the transaction will be completed, according to the filing.
BUSINESS
GM reaches tentative agreement With UAW, ending six-week strike
The strikes at Ford and Stellantis ended when those companies reached tentative deals with the union.
BUSINESS
Meta to offer ad-free Facebook, Instagram subscriptions in Europe
Starting in November, users will be able to subscribe to the social media sites for €9.99 ($10.574) per month on the web or €12.99 per month via Apple Inc.’s and Android’s mobile operating systems, the company said
BUSINESS
Vistara Plans New Routes After Inaugural Hong Kong Flight
The full-service carrier will deploy new aircraft that are pending delivery for mostly international routes, Kannan said at an event to mark the introduction of Vistara’s daily Delhi-Hong Kong service Monday.
WORLD
Halloween Candy Costs Are Surging This Year
Poor weather from West Africa to India has spurred shortages of the two crops, which are key ingredients for chocolate and candy makers.
WORLD
Apple Looks to Capitalize on Computer Sales Comeback With New Macs
The company will hold an online event at 5 p.m. California time — dubbed “Scary Fast” — where it’s poised to announce a new iMac and updates to its high-end MacBook Pro. Apple also is slated to unveil the next generation of its computer chip, the M3.
BUSINESS
Crypto Unicorn expects India to lower tax that crushed trading
CoinDCX, like other Indian digital-asset exchanges, is seeking to diversify revenue streams by looking abroad or expanding into different projects.
BUSINESS
India, UK see trade deal possibly in December after poll results
India and the UK don’t expect a free trade agreement to be announced until after state elections in the South Asian nation are completed in December, according to people with knowledge of the matter.
BUSINESS
Saudi Arabia seeks trade deals, mulls BRICS offer to lift exports
Saudi Arabia is lining up more free trade deals as it pursues a plan to diversify the $1.1 trillion economy to reduce its dependence on oil.
WORLD
Elon Musk’s X looks little like the Twitter he bought a year ago
The main plank of Musk’s plan for Twitter (now called X) was to shift away from advertising and toward paid subscriptions. A new analysis from independent researcher Travis Brown estimates that 950,000 to 1.2 million people now pay for X’s $8 monthly premium service.
WORLD
Elon Musk tells X staff new products will challenge YouTube, LinkedIn
Owner Elon Musk and Chief Executive Officer Linda Yaccarino called out the two sites during an all-company meeting Thursday to commemorate one year since Musk’s takeover of Twitter Inc., according to a person familiar with the matter.
WORLD
El Salvador slaps a $1,000 tax on travellers from India and Africa
People traveling on passports from India or any one of more than 50 African nations will be obliged to pay the fee, El Salvador’s port authority said in a statement on its website dated Oct. 20.
BUSINESS
Adani seeking to raise $4 billion to fund green hydrogen plans
Adani New Industries Ltd., a wholly owned subsidiary of flagship company Adani Enterprises Ltd., will take the lead raising the money from domestic and international banks and is in early-stage talks with several lenders, the people said, asking not to be identified because the details are private.
WORLD
Israel taps blacklisted Pegasus maker to track hostages in Gaza
NSO Group and Candiru, both of which are blacklisted by the United States, are being asked to quickly upgrade their spyware capabilities to meet needs laid out by the country’s security forces
BUSINESS
J&J faces 18 talc cancer trials, prompting it again to weigh bankruptcy
Since 2016, Johnson & Johnson has been hit with at least $570 million in damage awards over talc-related cancer claims and paid out at least $2.5 billion in settlements
TRENDS
How to maximize your odds for a hotel upgrade
At hotels with few suites, an upgrade might mean a better view or a room on a higher floor. In others, bumping room categories could range from gaining a few square feet to acquiring additional bedrooms
WORLD
Tech investors don’t believe the digital ad recovery is real yet
Meta Platforms Inc., Snap Inc. and Alphabet Inc. reported generally upbeat results this week, all showing that ad spending is growing compared with a year ago.
WORLD
Unilever rules out big M&A as new CEO sets out his strategy
The new CEO said he’ll only consider small acquisitions and vowed to increase gross margin and deliver shareholder returns in the top third of its peer group. Previous CEO Alan Jope was criticized for a failed effort to buy GSK Plc’s former consumer health business.
BUSINESS
Options traders see RBI grip on Rupee lasting for rest of 2023
Data show traders are betting on the currency weakening less than 1% by end-December, with open interest on contracts expiring in the coming months clustered mostly around the 83 and 84 per dollar levels. The rupee was little changed at 83.18 Wednesday.
WORLD
Google, Nvidia back AI startup that helps combat chip shortage
CentML, which builds software to help machine learning systems work more efficiently, raised $27 million from investors including Google’s Gradient Ventures and Radical Ventures.
