BUSINESS
China factory activity slumps for longest stretch on record
The official manufacturing purchasing managers’ index was 49.2, remaining below the 50 mark that separates growth and contraction for an eighth month.
BUSINESS
Wall Street predicts rebound in Indian markets after tough year
Morgan Stanley, Citigroup Inc. and Goldman Sachs Group Inc. are among those who expect the country’s markets to claw back lost ground next year as earnings stabilize and policy support kicks in.
WORLD
Ukraine claims hit on Russian ‘shadow fleet’ Black Sea tankers
Ukraine’s SBU used naval drones to strike two sanctioned Russian oil tankers, Kairos and Virat, off Turkey’s Black Sea coast, aiming to disrupt Moscow’s oil exports amid heightened maritime risks.
WORLD
Two oil tankers suffer mystery blasts while in Black Sea
The first tanker, the 900-foot Kairos, was taking on water after an explosion, according to a local port agent report.
BUSINESS
SoftBank-backed Meesho set to seek up to $605 million via IPO
Meesho, founded in 2015 by Vidit Aatrey and Sanjeev Kumar, got a real growth burst during the Covid pandemic when millions of Indians began to shop online.
BUSINESS
Worldwide markets roiled by data-center snafu in Chicago suburb
Even after trading was largely restored on Friday, disruptions extended well into the US session, with CME Direct, a trading platform provided by the exchange, offline for most of the day
BUSINESS
CME futures outage disrupts trading across global markets
The malfunction is already longer than a similar, hours-long outage due to a technical error back in 2019 and underscores the reach of CME Group and its Globex electronic trading platform.
WORLD
Hong Kong warned tower contractor of fire risk days before blaze
The Hong Kong Labour Department said it had inspected Wang Fuk Court 16 times since renovation work started in July last year.
WORLD
Hong Kong blaze that killed 94 puts spotlight on missed warnings
Regulators conducted 16 checks on the renovation project and issued repeated written warnings urging the contractor to put proper fire-prevention measures in place — including as recently as last week, according to the Labour Department.
BUSINESS
Asian stocks ebb as global rally loses momentum
Indexes opened lower in South Korea and Japan, while Australia edged higher as equities struggled for direction following the US Thanksgiving holiday.
BUSINESS
Gold poised for fourth monthly gain on Fed rate-cut optimism
Bullion was near $4,170 an ounce on Friday, and up more than 2% for the week.
BUSINESS
Pentagon cited Alibaba on China military aid in October 7 memo
Deputy Defense Secretary Stephen Feinberg informed lawmakers of the conclusion in the Oct. 7 letter, a copy of which was seen by Bloomberg News, to the heads of the House and Senate Armed Services Committees.
BUSINESS
Japan to issue $75 billion in new bonds to fund stimulus
After adding the ¥11.7 trillion, total debt issuance for the current fiscal year will reach ¥40.3 trillion, roughly 4.3% smaller than the previous year.
BUSINESS
Tesla touts China ties as automakers scrutinise supply chain
The carmaker’s Chinese operations are significant, with its Shanghai factory not only its largest production hub but also serving as a primary export center for markets in Asia and Europe.
BUSINESS
Spot platinum jumps as new futures contract in China aids demand
The new contracts, which are physically settled, cater to both institutional and retail investors, widening the pool of participants.
BUSINESS
Canada to add new tariffs to US steel, curb foreign imports
Carney announced the new 25% levy on steel derivative products Wednesday as part of a suite of measures to help producers
BUSINESS
Gold holds gains on rising expectations of US interest-rate cut
Bullion was trading around $4,160 an ounce, supported by a series of comments by Federal Reserve policymakers that point to further monetary easing in the world’s biggest economy
WORLD
Asian stocks look higher as rate-cut rally extends
The S&P 500 rose 0.7% Wednesday, extending its advance after reclaiming its 50-day moving average, a key technical support level. The tech-heavy Nasdaq 100 added 0.9%.
BUSINESS
US stocks log fourth straight day of gains ahead of Thanksgiving break
The S&P 500 Index closed 0.7% higher, putting the benchmark on track for a fourth-straight day of gains. The tech-heavy Nasdaq 100 Index gained 0.87%.
WORLD
Trump loses appeal to revive conspiracy suit against Clinton
The three-judge appellate panel said in its unanimous opinion that Trump’s claims are “untimely and otherwise meritless.”
BUSINESS
Nvidia’s stock is sinking as doubts about its AI dominance grow
Shares of the chipmaker fell 2.6% on Tuesday following a report suggesting that Alphabet Inc.’s AI processors are gaining ground.
BUSINESS
UK bonds, pound whipsaw as investors unconvinced by budget plans
The fiscal watchdog’s report showed the UK increased a buffer it keeps to avoid breaking a key fiscal rule to a larger-than-expected £22 billion ($29 billion).
BUSINESS
HP announces job cuts as profit outlook misses estimates
The PC and printer maker will exit 2028 with gross savings of $1 billion annually as a result of the cuts.
BUSINESS
Indian retail investors dump stocks by most since 2023
Individual investors, including proprietary traders and those who buy stocks directly, have sold 197 billion rupees ($2.2 billion) of local shares on a net basis so far this quarter, according to data from the National Stock Exchange.
