WORLD
Fund managers see water risk in semiconductor bets being mispriced
For Abrdn Plc, there are now few issues as pressing as water for the sector, according to David Smith, a senior investment director for Asian equities at the asset manager.
WORLD
Apple’s iPhone price bump is part of subtle revenue-boosting strategy
On Tuesday, the company boosted the price of just one iPhone model — the top-end Pro Max, which climbs by $100 to $1,199 — while leaving the other three new versions unchanged.
BUSINESS
Byju’s hid $533 million in hedge fund once run from Miami IHOP, lenders allege
Byju’s last year transferred more than half a billion dollars to Camshaft Capital Fund, the investment firm founded by William C. Morton when he was just 23 years old, some Byju’s lenders claim in a lawsuit. Morton’s fund received the money despite an apparent lack of formal training in investing, according to the lenders.
WORLD
Oracle slides most since 2002 on slowing cloud sales growth
Cloud revenue, a metric that is closely watched by investors, jumped 30% to $4.6 billion in the period ended Aug. 31. Of that, $1.5 billion came from renting computing power and storage over the internet and $3.1 billion from applications.
WORLD
Apple’s iPhone 15 debut includes higher price on top model
The company unveiled four new models, keeping pace with the past few generations: the iPhone 15, 15 Plus, 15 Pro and 15 Pro Max. Like last year, the entry-level models start at $799. The Pro version will remain $999, but the Pro Max will now begin at $1,199 — up $100 from last year’s installment.
WORLD
Apple hails latest watch as its first carbon neutral product
The Apple Watch Series 9 and a second-generation version of the high-end Ultra model are manufactured with clean energy and use more eco-friendly bands, the company said during a presentation Tuesday.
WORLD
iPhone Pro’s titanium finish stands out in first look at device
The new phones’ use of titanium along the sides, which replaces stainless steel, is an attention-grabbing addition. The material is meant to make the phones more lightweight and durable, and that comes across immediately when you hold the device.
BUSINESS
Apple’s iPhone reveals are often a dip buyer’s dream
Over the past five years, September has been the worst month of the year for Apple, with the shares averaging a decline of 4.5%
BUSINESS
Google pays $10 billion a year to maintain monopoly, US says
The monopolization trial is the first pitting the federal government against a US technology company in more than two decades
BUSINESS
OPEC oil data show 3 million-barrel shortfall on Saudi supply squeeze
The latest data published by OPEC show why the kingdom’s supply squeeze, amid a period of record demand, has sent oil prices surging beyond $90 a barrel in London.
BUSINESS
Apple to sell made-in-India iPhones on launch day for first time
Apple Inc. plans to make the India-built iPhone 15 available in the South Asian country and some other regions on the global sales debut day, people familiar with the matter said.
WORLD
Fortunes for mega- and small-cap stocks poised to flip, Bank of America says
With equities in the “recovery” phase of the business cycle, this year’s laggards — including value and small-capitalization stocks — are primed to outperform, upending the growth, large-cap leadership that has dominated 2023’s bull run, according to strategists led by Savita Subramanian.
WORLD
Short sellers reap $13 billion on winner-take-all market gap
The group has seen paper profits of nearly $13 billion this year by wagering on a drop in the prices of small-, micro- and nano-cap shares, according to an estimate by S3 Partners LLC based on the average amount of short positions in the market.
WORLD
Saudi Arabia sets its sights on a less glamourous source of wealth
Having already used its energy riches to upend the worlds of sports, tourism and movies, Saudi Arabia’s Crown Prince Mohammed bin Salman is prepared to pour billions of dollars into tapping the more than $1.3 trillion of metals his government says is buried in places like this.
WORLD
Temasek-backed Singapore VC snags $541 million despite tech woes
The sum includes a $50 million vehicle that will pump in additional capital alongside its main fund into startups led by women founders, the Singapore-based firm said in a statement on Tuesday.
WORLD
Australia’s richest woman buys into Lithium bid target liontown
Iron ore mining billionaire Gina Rinehart’s Hancock Prospecting Pty Ltd. confirmed Tuesday it had acquired a 7.72% stake in Liontown and said it believed it could help steer the company’s metal conversion and growth.
WORLD
Crypto exchange Coinbase to disable some accounts of Indian users
Indian accounts that “no longer meet our updated standards” will be disabled on Sept. 25, a Coinbase spokesperson said in a statement on Monday. The firm continues “to explore ways to strengthen our presence in this important market,” the spokesperson added.
WORLD
Everything Apple plans to show today: iPhone 15, Watches, AirPods
The event kicks off from the company’s headquarters in Cupertino, California, on Sept. 12 at 10 a.m. local time.
WORLD
G20 Summit: India’s G20 win shows US learning how to counter China’s rise
For the US, any move that bolsters India and amplifies other democracies in the Global South helps to counter China and Russia’s influence, particularly when it comes to bringing about the G20’s call for a “comprehensive, just and durable peace” in Ukraine
WORLD
Extreme heat is fast becoming a threat to global fuel security
European crude processing dropped by 700,000 barrels a day over the summer from a year earlier, according to an estimate from industry consultant FGE - around 6 percent of regional throughput, based on figures from BP Plc’s latest Statistical Review of World Energy.
TRENDS
G20 sherpas reach deal on wording for Russia war in Ukraine
The main difference in the text agreed to this year is the removal of most phrasing that expressed divergent opinions over issues such as sanctions and direct condemnation of Russia’s war, replacing it with unanimously supported views backed up with references to United Nations principles.
TRENDS
G20 Summit 2023: G20 sees risks to long-term growth from 'cascading crises'
The G20 bloc also plans to recognize the importance of blended finance to address climate issues, a recognition that public money isn’t sufficient and that businesses are unlikely to invest in situations in which their returns are uncertain.
BUSINESS
G20 Summit: PM Modi enjoys a $3.8 trillion market moment as G-20 leaders fly in
Foreign investors have bought more than $16 billion worth of Indian stocks on a net basis so far in 2023 - set to be the biggest inflow in three years. In addition, the nation stood out in August, when overseas funds sold shares in almost every other Asian emerging market amid a global selloff
BUSINESS
G20 Summit: US, India and Gulf states pushing ahead with plans for rail deal
Earlier this year, White House National Security Advisor Jake Sullivan traveled to Saudi Arabia for talks that also included Indian and UAE representatives on the topic
