WORLD
What to know about Jim Jordan, the Trump loyalist close to becoming house speaker
Hawkish Republicans have generally been hesitant to get behind Jordan, a Donald Trump loyalist who has supported an isolationist “America First” agenda.
BUSINESS
India leads emerging market ETF inflows after $5 billion rout
Risk traders continue to tout India — the fastest-growing major economy — as a bright spot amid the volatility that has engulfed developing nations this year. As China’s growth-engine status weakens, investors are favoring places where growth is strong or the capacity to provide stimulus is high.
WORLD
Joe Biden to visit Israel, Jordan in bid to keep war from escalating
Joe Biden, who was invited by Prime Minister Benjamin Netanyahu, will meet with the Israeli leader to discuss US assistance ahead of expected ground operations in the Gaza Strip and to caution other nations and militant groups to not use the crisis to undermine Israel.
BUSINESS
Wells Fargo, JPMorgan start banks’ post-earnings bond spree
The Wall Street giants are borrowing from the debt market after posting strong net interest income and raising their outlook guidance.
BUSINESS
Bitcoin pares after BlackRock says ETF application under review
“The iShares Spot Bitcoin ETF application is still under review by the SEC,” a spokesperson said. Bitcoin was up about 3% to $28,000 as of 10:12 a.m. in New York on Monday after briefly jumping to $30,000.
BUSINESS
Apple’s India map provider doubles as it rivals Google’s product
Shares of MapmyIndia, formally known as CE Info Systems Ltd., have risen about 104% from the end of March, adding around $675 million in market value on demand for its consumer-facing app Mappls.
AUTOMOBILE
VinFast to expand into Southeast Asia, raise more capital
The company expects to meet its target this year of selling 45,000 to 50,000 vehicles, she said in an interview with Bloomberg TV’s Rishaad Salamat and Yvonne Man.
BUSINESS
Geopolitical risks cast a pall over Indian and other Asian economies
Asian bonds have become less attractive for investors. The premiums a borrower pays to own Indian or Indonesian bonds against US debt, hitting the lowest level since the global financial crisis (GFC) in 2008.
WORLD
Asia central banks get creative on currencies to defend reserves
Asian currencies are especially exposed to outflows as benchmark rates in the region are generally lower than their emerging peers, resulting in a wider differential with the US.
WORLD
Flying to Singapore? These executive tips make it a better trip
How do I make the long flights to or from New York or London bearable? Read here
BUSINESS
World’s higher-for-longer rate era stokes worry
Multiple attendees at the International Monetary Fund’s meetings this week cautioned that the wholesale tightening now risks inflicting a shock to a world economy already on edge as war rages in the Middle East.
WORLD
Hamas' secret tunnel network complicates Israel’s Gaza offensive
Though Hamas is no match for the technological sophistication of the Israeli army, the militant group has one very unusual asset: a vast network of secret subterranean tunnels.
BUSINESS
Israeli billionaire quits Harvard board after school’s response to Hamas attacks
Amid criticism of Harvard University's response to Hamas attacks on Israel, Israeli businessman Idan Ofer and his wife have resigned from their board positions at the university.
BUSINESS
Microsoft completes $69 billion Activision purchase; biggest-ever deal in gaming industry
The acquisition is a stunning turnaround after Microsoft executives underestimated the magnitude and longevity of antitrust objections, forcing the software giant to seek a three-month extension of the deal’s expiration period from Activision.
WORLD
BlackRock Clients Pull $13 Billion From Long-Term Funds
The redemptions are a sign that investors have preferred to keep cash on hand in money-market funds or in certain bond strategies while interest rates remain elevated.
INDIA
Top Indian Solar Manufacturer Seeks Protection From Imports
The temporary relaxation of a safeguard mechanism stating a list of approved solar makers in March has ushered in a flood of cheap imports, forcing local manufacturers to idle some capacity, Waaree Energies Ltd. Chairman Hitesh Doshi, said in an interview.
BUSINESS
Verizon Turns to Inside Fixer to End Downward Spiral
Today, a series of strategic errors have left Verizon in a precarious position. The costly purchases of AOL and Yahoo!, which were an attempt to grow in digital media, didn’t pan out. And a turn toward an alternative radio wave technology proved to be an unnecessary detour in the race to 5G, allowing T-Mobile USA Inc. to amass a two-year advantage.
ECONOMY-2
UBS Warns Unsecured Loans May Soon Face Risk of Defaults
The brokerage sees credit costs for Indian lenders climb toward “historical averages” as more unsecured retail loans turn sour, with state-run banks more vulnerable to this trend, compared to their private sector counterparts.
WORLD
Beijing Hints At More Fiscal Stimulus After Weak Economic Data
The Standing Committee of the National People’s Congress — the Communist Party-controlled parliament that oversees government borrowing — will meet later this month to review a bill assigning additional local government debt quotas in advance, the state-run Xinhua News Agency reported Friday.
CRICKET
Cricket Fans from Delhi to Melbourne Gear Up for India-Pakistan Clash
The two teams will meet in front of a crowd of 130,000 at the Narendra Modi Stadium in Ahmedabad, the world’s largest cricket ground.
BUSINESS
Wars, trade bans and climate change turn food into politics
Starting with New Zealand and Poland this weekend, at least a quarter of the global population will head to the polls over the next eight months or so.
BUSINESS
Rice market braces for more stress as El Nino starts to bite
The market has already been upended by export restrictions from top shipper India and drier weather from the event threatens to cause more chaos.
BUSINESS
Traders puzzled why RBI spends billions fighting stronger Dollar
Volatility in the rupee is hovering near the lowest in almost two decades and the currency has managed to avoid breaching a record low even as rising US rates wreaked havoc in emerging markets.
BUSINESS
Jeff Bezos buys his Florida neighbour’s mansion for $79 million
Bezos bought the neighboring home in June for $68 million. With the latest purchase, he’ll gain a roughly 1.8-acre (0.7-hectare) property that was built in 2000.
