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Ant to buy back shares at 70% lower valuation than at IPO

WORLD

Ant to buy back shares at 70% lower valuation than at IPO

Each investor would be allowed to sell up to 7.6% of their equity rather than cashing out completely, according to a person familiar with the matter, asking not be identified discussing private details of the arrangement.

Yellen’s China trip offers economic guardrails in tense rivalry

WORLD

Yellen’s China trip offers economic guardrails in tense rivalry

US Treasury Secretary Janet Yellen struck a positive but pragmatic tone during a press conference capping a four-day visit to Beijing.

Apple plans a slow, appointment-only rollout of its $3,500 Vision Pro

TECHNOLOGY

Apple plans a slow, appointment-only rollout of its $3,500 Vision Pro

Apple will also sell the Vision Pro through its US web store in early 2024 before expanding online elsewhere. An Apple spokeswoman declined to comment on the rollout.

Bangladeshi banks plan India Rupee transactions as reserves fall

BUSINESS

Bangladeshi banks plan India Rupee transactions as reserves fall

Eastern Bank, which opened rupee accounts with the State Bank of India and ICICI Bank, will announce the plan for rupee trade on July 11. The other Bangladeshi lender offering the same service is the state-run Sonali Bank.

Byju’s crisis prompts top India venture firm to shift strategy

BUSINESS

Byju’s crisis prompts top India venture firm to shift strategy

Perceived corporate governance lapses are sending shockwaves through the South Asian nation’s fledgling startup economy. Byju’s, once India’s most valuable upstart, is in turmoil after missing a deadline on financial statements, skipping payments on a $1.2 billion loan and losing its auditor and some of its board members.

Meta’s Threads app draws millions seeking a Twitter alternative

WORLD

Meta’s Threads app draws millions seeking a Twitter alternative

On Threads, people can post text and links and reply to or repost messages from others. The app will let users port over their existing follower lists and account names from Instagram, Meta’s photo and video-sharing app that counts major brands, celebrities and creators among its more than 2 billion users.

India-dominated clearing union moves toward Rupee settlement

BUSINESS

India-dominated clearing union moves toward Rupee settlement

All the members of the Asian Clearing Union, which includes all South Asian countries as well as Iran and Myanmar are on board with the plan, said Khaing Shwe War, director general at the Central Bank of Myanmar.

BofA stocks indicator sees S&P 500 surging 16% in next 12 months

BUSINESS

BofA stocks indicator sees S&P 500 surging 16% in next 12 months

BofA’s Sell Side Indicator, which tracks sentiment toward US equities on a monthly basis based on asset-allocation recommendations provided to the bank and Bloomberg, rose 0.33 percentage point to nearly 53% in June.

How Threads features differ from Instagram and Twitter

WORLD

How Threads features differ from Instagram and Twitter

On Threads, pre-existing Instagram users can access a “text-based conversation app.” It resembles Twitter in its format, dynamics and even name, — “threads” on Twitter are a series of connected tweets from one account. Not surprisingly, Meta has been open about challenging Musk’s most recent acquisition, with Zuckerberg claiming that “hasn’t nailed it.”

AI seen fueling Microsoft to $3 trillion value: Morgan Stanley

WORLD

AI seen fueling Microsoft to $3 trillion value: Morgan Stanley

The analysts, led by Keith Weiss, named Microsoft their top pick among large cap software companies, and said that it is the best placed in the sector to benefit from the growth of AI.

India's largest lender SBI rejigs senior leadership to boost dominance: Report

BUSINESS

India's largest lender SBI rejigs senior leadership to boost dominance: Report

Government-run State Bank of India is fortifying its dominance at a time when a merger between HDFC Bank Ltd.

Tata weighs buying Temasek’s stake in Pay TV Platform, sources say

BUSINESS

Tata weighs buying Temasek’s stake in Pay TV Platform, sources say

Tata Group is contemplating whether to delay the planned Tata Play listing because of market conditions, the people said.

Adani Green weighs raising $1.5 billion in funding

BUSINESS

Adani Green weighs raising $1.5 billion in funding

Billionaire Gautam Adani's renewable energy unit's board is set to discuss plans to raise funds from institutional investors on Thursday, the firm said earlier this week in a stock exchange filing.

BlackRock wants to make it cheaper to trade Bitcoin, Larry Fink says

BUSINESS

BlackRock wants to make it cheaper to trade Bitcoin, Larry Fink says

Bitcoin rose more than 12% in June alone and is up more than 80% year-to-date.

Fed minutes reveal divisions over decision to pause in June

BUSINESS

Fed minutes reveal divisions over decision to pause in June

The minutes also showed that a large majority of policymakers — “almost all” — agreed that more tightening will likely be needed this year

Instagram unveils Threads app, a threat to Musk’s Twitter

BUSINESS

Instagram unveils Threads app, a threat to Musk’s Twitter

As of the Wednesday launch of Threads, Twitter is still limiting how many tweets per day users can view — a measure Musk called “temporary” in order to fend off data scrapers and bots.

India increases Africa lending in the race to counter China

INDIA

India increases Africa lending in the race to counter China

Forty-two African nations received about $32 billion or 38% of all credit extended by India in the last decade — just a few percentage points below its neighbors, Harsha Bangari, the managing director of India’s Export Import Bank said in an interview.

Xi Jinping urges open supply chains after curbing exports of key metals

WORLD

Xi Jinping urges open supply chains after curbing exports of key metals

Half of fake watches are Rolex Replicas, Watchfinder CEO says

WORLD

Half of fake watches are Rolex Replicas, Watchfinder CEO says

Monday was the hottest day ever as global temperatures rise

TRENDS

Monday was the hottest day ever as global temperatures rise

US to curb China access to Cloud Services like Amazon, WSJ says

WORLD

US to curb China access to Cloud Services like Amazon, WSJ says

Markets roar approval for embattled South Asian economies

BUSINESS

Markets roar approval for embattled South Asian economies

Google set to hire former Apple executive as India policy head

BUSINESS

Google set to hire former Apple executive as India policy head

Xi Jinping’s metal curbs risk backfiring as G-7 seeks China alternative

WORLD

Xi Jinping’s metal curbs risk backfiring as G-7 seeks China alternative

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