WORLD
Warren Buffett raises stake in five Japanese trading houses
Berkshire holds stakes in Itochu Corp., Marubeni Corp., Mitsubishi Corp., Mitsui & Co., and Sumitomo Corp., the US insurer said in a release on Monday. Buffett, the chairman of Berkshire, said in April that the firm would boost stakes in the Japanese companies, prompting their stock prices to rise to record highs.
BUSINESS
Aircraft mega-deals prompt bubble warning from industry veterans
The industry’s newfound swagger was on full display Monday, when Indigo agreed to buy 500 Airbus SE jets, eclipsing a record set only months ago by Air India.
BUSINESS
Akasa Air in talks for follow-on Boeing jet order
The US planemaker is reportedly working to finalize negotiations as soon as this week at the Paris Air Show
INDIA
Cough syrup suspected of killing 12 kids in Cameroon might be Made in India
Photographs of a box of Naturcold medication show a manufacturing license number matching that of Riemann Labs Pvt. Ltd., based in Indore in the Indian state of Madhya Pradesh. The photos, provided by Eko Eko Filbert, a regional health official in Cameroon, don’t show a manufacturer’s name.
WORLD
Bangladesh floats currency for first time to get more IMF funds
While Bangladesh is not heavily indebted, it joins several such countries in loosening a tight grip on local currencies in order to get financing from the Washington-based lender. Pakistan, Egypt and Lebanon were among those that have dropped their fixed exchange rates this year.
WORLD
Danone pins turnaround hopes on AI
At a new Danone facility near Paris, researchers feed dollops of yogurt into globular glass vessels and plastic tubes designed to mimic the human gut. Once the bacteria inside show they can survive the digestive juices, artificial intelligence is put to work to probe their potential health benefits.
WORLD
Cancer warnings on Beer, Wine in Ireland spark alarm
The US and Mexico have raised concerns over the legislation ahead of World Trade Organization committee meetings this week. Argentina, Australia, Chile, Cuba and New Zealand have also expressed reservations about the law, which Ireland passed last month.
WORLD
Top stock Picker scouts AI fringes to beat 97% of peers
Fairlight Asset Management’s Nick Cregan invests in companies he believes will be enhanced by AI or well protected from its implications. It’s a conviction that’s helped propel his Fairlight Global Small & Mid Cap fund up 24% over the past year, beating 97% of peers, according to data compiled by Bloomberg.
WORLD
Boeing sees $8 trillion jet market as climate reshapes travel
The US planemaker’s latest tally of industrywide deliveries over the next 20 years takes into account growing activism over jet emissions, said Darren Hulst, a Boeing vice president of marketing.
BUSINESS
Airbus set for splashy Paris debut with 500-jet IndiGo order
The proposed order, which would double the airline’s existing backlog, is for A320neo family aircraft, according to people familiar with the negotiations. IndiGo and Airbus are moving to announce the accord as early as Monday, said the people, asking not to be identified because the talks are private.
BUSINESS
Airbus set for splashy Paris debut with 500-jet IndiGo order
The proposed order, which would double the airline’s existing backlog, is for A320neo family aircraft, according to people familiar with the negotiations.
BUSINESS
Population boom spurs hunt for stock market winners in India
The milestone of being the most populous nation serves as a reminder of the growth potential for India’s $3.4 trillion stock market — which recently reclaimed its spot as the world’s fifth largest — as it takes a bigger pie in global manufacturing and consumption, currently dominated by China.
BUSINESS
Canada’s snap retreat from China bank shows divided world
The controversy over the Asian Infrastructure Investment Bank began on Wednesday, when Bob Pickard — its former global head of communications — said he was quitting his job because the lender was “dominated by Communist Party members and also has one of the most toxic cultures imaginable."
BUSINESS
Billionaire Reuben brothers sue Trafigura over nickel fraud
Legal filings seen by Bloomberg News shed new light on the case that shocked the market earlier this year when Trafigura said it expected to lose nearly $600 million in what it called a “systematic fraud” perpetrated by Indian businessman Prateek Gupta.
BUSINESS
Intel, Micron spending spree shows diplomacy bearing fruit
The US is pushing to build advanced chipmaking at home and in friendly countries as growing global tensions spur concerns about the world’s reliance on Asian centres, such as Taiwan, which China claims as part of its territory.
BUSINESS
Micron nears $1 billion investment in India chip packaging plant
An announcement could be made as soon as when Prime Minister Narendra Modi visits the US next week, said the people, who asked not to be identified because the details are private.
WORLD
The AI boom has Silicon Valley on a manic quest
The gathering, dubbed a “Generative AI Meeting of the Minds,” would’ve been unthinkable during the pandemic and improbable earlier this year, when the city’s main obsessions often seemed to be car break-ins and retail store closures. The night had the feel of a religious revival.
WORLD
OpenAI’s CTO says AI will be your daily companion
Bloomberg interviewed Mira Murati, OpenAI’s chief technology officer and one of the top architects of ChatGPT.
WORLD
Mysterious 1,000% rise in ‘deep fried’ stocks baffle Indonesia
Known as “deep fried” shares among local traders, they often have concentrated ownership, low trading volume, scant analyst coverage and elevated valuations relative to peers.
WORLD
Stellantis to unveil €25,000 EV in fight for mass-market buyers
Citroen, one of the carmaker’s 14 brands alongside Jeep and Fiat, will make the e-C3 city car in Slovakia to compete with the Dacia Spring that’s made in China and Renault SA’s upcoming Renault 5 EV. The e-C3 will have a driving range of more than 300 kilometers (186 miles) on a single charge.
WORLD
Henry Kissinger sees war over Taiwan likely unless US, China back down
“On the current trajectory of relations, I think some military conflict is probable,” Kissinger said in an interview with Bloomberg News Editor-in-Chief John Micklethwait, when asked about the possibility that China would invade Taiwan. “But I also think the current trajectory of relations must be altered.”
BUSINESS
India’s biggest fund manager sees rupee ending five-year slide
The currency will probably strengthen to 80 per dollar by the end of the year, according to Namrata Mittal, chief economist at SBI Mutual Fund, its first annual appreciation since 2017.
WORLD
Workers resisting the office grind are suddenly lonely at home
While workers don’t want to give up flexibility, leaders want teams back to boost collaboration and avoid a productivity slump.
BUSINESS
Government mulls tweaks to boost $731 billion insurance sector
The country allows overseas investors to hold up to 74% stake in insurers. Global firms such as American International Group Inc. and Prudential Financial Inc already have a presence in India through their local partners.
