BUSINESS
Carlyle is weighing entry into private credit market in India
Executives from the US private equity investor’s Hong Kong office have visited India to understand the country’s private lending opportunities in recent months, according to people familiar with the matter who asked not to be identified discussing private information.
BUSINESS
Billionaire Gautam Adani’s firms weigh raising up to $5 billion, sources say
Adani Enterprises Ltd., the flagship, as well as Adani Green Energy Ltd. and Adani Transmission Ltd., may raise between $3 billion and $5 billion for a war chest to bolster the businesses, the people said, asking not to be identified as the information is private.
WORLD
NBCUniversal’s Linda Yaccarino in talks to become Twitter’s CEO
Excited to announce that I’ve a new CEO for X/Twitter. She will be starting in ~6 weeks!
WORLD
Airlines’ first class makeovers give the rich hotel rooms in the sky
First-class cabins are increasingly resembling mini hotel rooms, with sofas, double beds, televisions, desks, wardrobes, minibars and in some cases, walk-in showers. The more creative, the better. You can even book a chef.
WORLD
Meta introduces AI tools to create ads and predict performance
The company Thursday introduced the “AI Sandbox” for advertisers to test early versions of features that use artificial intelligence technology.
WORLD
Cathie Wood-linked ETF firm is shut down by Canada regulator
The Ontario Securities Commission said the firm has failed to comply with its capital requirements since at least September and ordered it to wind down, or find another company to take over its activities.
WORLD
Janet Yellen’s options if the US treasury runs out of cash
While lawmakers and administrations past have come close to failing to address the debt limit in time — hours away in the 2011 instance — they’ve always reached a deal before the Treasury Department’s cash balance became too low to make all federal payments coming due.
BUSINESS
Three Gautam Adani’s firms weigh raising up to $5 billion: Report
Adani Enterprises Ltd., the flagship, as well as Adani Green Energy Ltd. and Adani Transmission Ltd., may raise between $3 billion and $5 billion for a war chest to bolster the businesses, the people said, asking not to be identified as the information is private
WORLD
Pakistan rupee tumbles to record $300 as military to quell unrest
The rupee slid 3.3% to an all-time low of 300 a dollar on Thursday, according to the foreign-exchange desk at Arif Habib Ltd. Dollar bonds due 2031 rose from the lowest since November on Thursday and were indicated at 33.44 cents on the dollar.
BUSINESS
India funding costs surge to one-month high on cash squeeze
The weighted average call rate, an overnight funding cost rate that the central bank monitors, have climbed almost 30 basis points since the start of the year. At 6.78% on Wednesday, it’s just hovering above the upper band of the Reserve Bank of India’s interest-rate corridor of 6.75%.
WORLD
Man Group appoints its first female CEO in 240 years
Robyn Grew, 54, will take over from Luke Ellis, 60, who is stepping down from the helm of the world’s largest publicly listed hedge fund firm on Sept. 1, according to a statement Thursday.
WORLD
Singapore’s property tax won’t be hurting these foreign buyers
Nationals from the US, Iceland and Norway, among others, are accorded the same stamp duty treatment as Singapore citizens, based on respective free trade agreements about a decade ago.
WORLD
Apple executive in charge of TV+ and sports businesses to depart
The executive, Pete Distad, plans to leave Apple this month, said the people, who asked not to be identified because the move hasn’t been announced. He was hired in 2013 from the Hulu streaming service, now part of Walt Disney Co., where he ran marketing and distribution.
WORLD
Google to revamp search with generative AI tools, but gradually
At its annual developer conference, Google unveiled a version of its search engine that uses large language models, AI tools that are trained on enormous volumes of text to answer users’ queries conversationally.
WORLD
Apple is now the only major phone brand without a foldable model
With Alphabet Inc.’s Google launching the Pixel Fold at an event Wednesday, every major brand running the Android operating system has now adopted the form factor. And though Apple began early work on a foldable iPhone years ago, it’s shown little interest in racing a product to market.
WORLD
Global Finance chiefs to plot escape routes for world economy
In the US, President Joe Biden and congressional Republicans are locked in a staredown over raising the $31.4 trillion borrowing limit. Meantime, the deepest US banking stress since the 2008 financial crisis is starting to squeeze lending.
BUSINESS
Volkswagen executives face cake attack, shouting activists in Berlin
Around a dozen German climate activists staged a protest that blocked traffic, arguing the carmaker was “making climate-damaging decisions".
BUSINESS
At Google I/O, expect an AI-powered search overhaul
Google is asserting its dominance in the market following moves by companies including Microsoft Corp., which is now using technology from the startup OpenAI in its own search product, Bing.
WORLD
China names Li Yunze top financial regulator in surprise move
Li Yunze, a former banker, was named party secretary of the newly formed national financial supervision and management bureau that regulates thousands of banks, insurers and trust firms, according to an announcement Wednesday.
BUSINESS
ARC body calls for rule change to boost market
The proposed changes would increase the types of entities who trade instruments called Security Receipts, which are backed by non-performing loans. Currently, the business is confined to banks and non-financial companies.
WORLD
Wall Street leaders warn of ‘unthinkable’ fallout if US defaults
In a letter to Treasury Secretary Janet Yellen, current and former leaders of the Treasury Borrowing Advisory Committee said the costs of the current standoff extend beyond markets to the time that financial firms are having to spend preparing for a possible default.
BUSINESS
Tata and IndiGo prepare to swoop on Go Air’s aviation assets
Tata Group and IndiGo are holding separate negotiations with Go Air’s lessors, as well as discussing landing and parking slots with airport operators, including in New Delhi and Mumbai, according to people familiar with the matter.
BUSINESS
Emerging market investors ditch China stocks to pile into TSMC, Reliance
The iShares MSCI Emerging Markets ex China ETF, which invests in stocks across the developing world, but not those in the world’s second-biggest economy, received inflows of $148 million last week.
BUSINESS
Centre renews call for chipmakers as billionaire’s effort drags
New Delhi plans to reopen the application process for $10 billion in incentives and assistance intended to encourage local chipmaking, people familiar with the matter said.
