BUSINESS
France to spend $150 million uprooting vines as wine demand dips
France cut its estimate for this year’s wine output to below 2024’s historically low level, after heat waves and wildfires hit vineyards.
INDIA
Banks consider financing non-sanctioned Russian oil trade
That’s a shift from a few weeks ago — before the latest US curbs, which took effect on Friday
WORLD
New alcohol stores to open in Saudi Arabia for some non-muslims
The kingdom is building two liquor shops in the Red Sea port city of Jeddah and Dammam in the east
INDIA
India to make air-to-ground weapon at home with France’s Safran
Indian defence contractor Bharat Electronics and France’s Safran Electronics & Defense have signed an agreement to manufacture a precision-guided weapon system in the South Asian nation
BUSINESS
ABN Amro’s new CEO seeks to slash 5,200 jobs in major revamp
The net reduction compared to last year’s headcount is anticipated to be completed over the next three years and half of it will take place through attrition, the Dutch lender said in a statement
WORLD
Donald Trump moves to keep Xi Jinping truce intact while reassuring ally Japan
Stocks in Hong Kong and China cheered Trump’s efforts to prevent ties spiraling, with a tech rally leading a rise in shares
INDIA
China’s soyoil exports to India surge on growing domestic glut
Asia’s largest economy shipped a record 70,877 tons of the cooking oil in October, according to customs data, most of which went to India
TECHNOLOGY
SoftBank Group shares tumble on OpenAI competition worries
The stock sank as much 11% on Tuesday, following a 10.9% dive in the previous session before Japan’s long weekend
BUSINESS
IMF likely to alter classification of India’s forex framework
The new description of the country’s de facto currency regime is likely to include references to a crawling peg
MARKETS
High frequency firms see India profits surge despite regulatory curbs
Hudson River Trading LLC led the charge with a 156% surge in profit for the fiscal year that ended on March 31
WORLD
US renews bid to unseal Epstein, Maxwell grand jury material
Grand jury proceedings are covered by strict secrecy laws
BUSINESS
Citi India nears $1 billion book of asset backed securities
The bank will buy pools of loans primarily in the form of asset-backed securities, known locally as pass through certificates
COMPANIES
Adani’s giant copper smelter caught up in global ore shortage
Kutch Copper Ltd., which began processing metal in June after multiple delays, has brought in less than a 10th of the raw material required
WORLD
Russia bombards Kyiv hours after Trump voices hope for Ukraine deal
Hours after Trump signaled “big progress” on a Ukraine peace plan, Russian forces launched a major strike on Kyiv and critical energy infrastructure, underscoring the fragile state of negotiations.
BUSINESS
Gold steady after Fed Governor remarks raise bets on US rate cut
Bullion was trading around $4,135 an ounce, having gained nearly 2% on Monday.
WORLD
Asian stocks track US gains as rate-cut bets grow
Stocks rose in Japan — where markets reopened after a holiday — and in South Korea
BUSINESS
Michael Burry defends his Nvidia criticism as company pushes back
Michael Burry’s comments come amid growing caution from investors worried about a possible AI bubble
BUSINESS
Apple cuts jobs across its sales organisation in rare layoff
Apple’s sales group reports directly to Chief Executive Officer Tim Cook and is overseen by Mike Fenger, a long-tenured vice president.
BUSINESS
Trump weighing advanced Nvidia chip sales to China, Lutnick says
The president is hearing from “lots of different advisers” in deciding on the potential exports, Lutnick said in a Bloomberg TV interview on Monday.
WORLD
Crypto crash erodes wealth for Trump’s family and followers
The value of a Trump-branded memecoin has fallen by about a quarter since August.
BUSINESS
Americans are microdosing obesity drugs, driven by 'thin is in' marketing blitz
GLP-1 medications aren’t approved for use in people whose body mass index, or BMI, falls below 27.
CRYPTOCURRENCY
Bitcoin funds set for worst month as investors yank $3.5 billion
Bitcoin fell to as low as $80,553 on Friday before regaining some ground over the weekend. It was trading at $86,998 as of 8:00 a.m. in London on Monday, still down 7% year-to-date.
BUSINESS
Russian oil offered to India at deep discount after US sanctions
The price of Urals for Indian refiners has slipped to a discount of as much as $7 a barrel to Dated Brent on a delivered basis
BUSINESS
Oil tanker rates hit record as buyers seek Russia alternatives
Benchmark rates for very-large crude carriers that can transport up to 2 million barrels from the Middle East to China rose to nearly $137,000 a day at the end of last week
