COMMODITIES
Global food supply risks escalate as key traders leave Russia
The exit of Cargill Inc and Viterra means Russia, the world’s largest wheat exporter, will have more control over its food shipments and reap more of the revenues
WORLD
Europe wants to make it easier to wind down medium-sized banks
The option would be limited to banks that will leave the market, the people added.
BUSINESS
RBI may keep rates higher for a while, says Shubhada Rao
The Reserve Bank of India, like most emerging market central banks, will closely follow what its American counterpart has been doing, but “need not follow every step of what Fed does,” said Rao in an interview with Bloomberg.
WORLD
Guptas wanted in South Africa submit bids for asylum
The brothers sent applications to the authorities in Cameroon and the Central African Republic, the Paris-based newsletter said. The governments of both countries are considering the requests, it said.
BUSINESS
Worst streak in 22 years seen ushering in Indian stock rebound
The NSE Nifty 50 Index is on track for its fourth-straight monthly decline, its worst losing streak since 2001. The gauge is down nearly 9% in that span compared with a gain of about 3% in the MSCI Asia Pacific Index.
BUSINESS
Rolex finally joins luxury watch herd peddling titanium timepieces
This year Watches and Wonders in Geneva, Switzerland, a bit of lighter fare was on the menu. Titanium sports watches appeared among the offerings at haute horology’s most important trade show of the year, from Rolex, Oris, Grand Seiko, Chopard, Ulysse Nardin, Hublot, Zenith and other brands.
WORLD
What is an indictment? Everything you need to know
While Trump will be fingerprinted and have his mug-shot taken, he probably won’t be paraded before cameras in handcuffs or placed in a holding cell, people familiar with the matter told Bloomberg earlier this month. He’ll likely remain in the custody of the Secret Service agents assigned to his protection detail.
BUSINESS
FTSE holds off adding India, South Korea to key bond indices
The index provider will seek evidence from market participants on the efficacy of the enhancements and whether they’re operating as intended prior to any reclassification decision, the firm said.
BUSINESS
Nestle eyes $1 billion deal for ‘Ching’s Secret’ owner Capital Foods in India
The Swiss company has been discussing terms of a potential deal for Mumbai-based Capital Foods, the people said, asking not to be identified because the information is private.
WORLD
OpenAI targeted in FTC complaint urging halt of GPT rollouts
The complaint from the Center for Artificial Intelligence and Digital Policy, which is led by longtime privacy advocate Marc Rotenberg, centers on GPT-4, the latest language model behind the research group OpenAI’s ChatGPT
BUSINESS
Over 30,000 funds to get their ESG ratings downgraded at MSCI
The new methodology, which takes effect at the end of next month, comes as ESG score providers continue to draw criticism for using inconsistent approaches that have yet to be properly regulated.
WORLD
Ivy League prices are pushing $90,000 a year
US college costs just keep climbing. And the increase is pushing the annual price for the upcoming academic year at Ivy League schools toward yet another hold-on-to-your-mortarboard mark: $90,000.
WORLD
Red Bull family’s $8 billion wealth boom tops all Asia dynasties
Red Bull GmbH posted record revenue last year, selling more than 11 billion cans and giving it the biggest market for the category.
WORLD
Champagne is outperforming gold and the S&P 500. Here’s what to buy
Here are the kinds of numbers that stirred them up: From January to September 2022, a case of all-Chardonnay 2012 Salon Le Mesnil soared 232%, from £3,800 to £12,600 ($4,670 to $15,485), according to Liv-Ex, the London International Vintners Exchange.
BUSINESS
Adani pulls back on grand ambitions after Hindenburg bombshell
Hindenburg’s allegations of extensive, years-long corporate fraud at the Adani Group have wiped out about $125 billion in market value since January, spurring the tycoon to rein in plans to expand into new sectors, according to people familiar with the company’s inner workings.
BUSINESS
Adani met Pimco, BlackRock for potential private bond placement
The conglomerate led by billionaire Gautam Adani is aiming to raise up to $1 billion in two tranches this year via such a route, said the people, who declined to be named as they were not authorized to speak about it.
BUSINESS
$335,000 pay for ‘AI Whisperer’ jobs appears in red-hot market
The fast-growing apps have created a seller’s market for anyone — even liberal arts grads — capable of manipulating its output.
WORLD
Splitting up an empire: Here are Alibaba’s six main businesses
Alibaba Group Holding Ltd. is splitting its $220 billion empire into six business units as part of a massive restructuring that will free up its various divisions to operate with far greater autonomy.
WORLD
Alibaba’s $32 billion day signals breakups for China tech
China’s online commerce leader surprised markets by announcing Tuesday plans to split its $220 billion empire into six units that will individually raise funds and explore initial public offerings.
WORLD
Alibaba shares soar after historic overhaul heralds IPO wave
The move frees up the Chinese company’s main divisions from e-commerce and media to the cloud to operate with far more autonomy, laying the foundation for future spinoffs and market debuts.
BUSINESS
Adani refutes reports on debt repayment concerns as shares slide
Adani units slumped Tuesday after India’s Economic Times said the group is seeking to renegotiate the terms of $4 billion worth of loans, citing people it didn’t identify.
BUSINESS
Ajay Piramal, TPG weighing exit from Shriram General
Piramal and TPG are jointly working with an adviser on divesting a combined 30% stake in the holding company of Shriram General Insurance Ltd., said the people, who asked not to be identified as the information is private. Shriram General Insurance Holdings could be valued at more than $2 billion in a transaction, the people said.
WORLD
Markets are wrong on US rate-cut bets, BlackRock says
The world’s biggest money manager favors inflation-linked bonds — securities that offer protection from rising prices — on the view markets are wrong in expecting imminent US rate cuts as the economy lurches toward a recession.
WORLD
The snack bag of the future won’t be made from plastic
Cuétara’s family business is Switzerland-based snack company Cuétara Foods, which makes 25 brands of cookies, biscuits and crackers sold all over the world. For Florencio, who was CEO for the Americas at the time, that moment was a turning point.
