WORLD
Alibaba pushes cost cuts as revenue growth remains sluggish
The online retailer reported net income rose a better-than-anticipated 69% to 46.8 billion yuan ($6.8 billion), but revenue rose just 2.1% to 247.76 billion yuan in the December quarter, slightly ahead of projections. Alibaba’s shares closed down slightly after climbing 6% in early New York trading.
WORLD
Boeing is retiring its famed fighter jets from ‘top gun’ after 40 years
The aerospace giant will stop manufacturing the fighters after it hands over the last Super Hornet to the US Navy in late 2025, according to a statement Thursday.
BUSINESS
US fourth-quarter GDP revised lower on weaker consumer spending
Inflation-adjusted gross domestic product, or the total value of all goods and services produced in the US, increased at a 2.7% annualized rate during the period, Commerce Department data showed Thursday.
BUSINESS
Volkswagen to revisit India amid China geopolitical uncertainty
Volkswagen AG wants to remain a strong player in Europe and China, but in the face of growing geopolitical tensions and an increasingly complex regulatory environment, the German carmaker is looking beyond the US for markets with growth potential, Chief Executive Officer Arno Antlitz said.
INDIA
The insolvency law tweak that can make India's banks and bondholders extremely unhappy
The Indian government seeks to achieve an “equitable scheme of distribution of proceeds,” it said in a discussion paper issued in January that recommends other significant changes to the Insolvency and Bankruptcy Code.
ECONOMY
Pakistan faces the abyss again. Debate rages on who should pay
The price of baby formula is up 15 percent in a month. Thousands of food containers are stuck at ports as the government curbs imports to preserve its last $3 billion in foreign currency
TRENDS
What to watch as India hosts G-20 finance, Central Bank chiefs
Group of 20 officials are meeting in India’s technology hub Bengaluru as consumer prices in most countries are still uncomfortably high and the war in Europe grinds on.
BUSINESS
Apple makes major progress on no-prick blood glucose tracking for its watch
The goal of this secret endeavor — dubbed E5 — is to measure how much glucose is in someone’s body without needing to prick the skin for blood.
BUSINESS
Fed inclined towards more hikes to curb inflation, minutes show
The minutes also said “almost all” officials agreed it was appropriate to raise interest rates by 25 basis points at the meeting, while “a few” favored or could have supported a bigger 50 basis-point hike.
MARKETS
UK overtakes India as the world’s sixth-biggest stock market
The combined market capitalization of primary listings in the UK, excluding ETFs and ADRs, reached about $3.11 trillion on Tuesday, some $5.1 billion higher than their Indian equivalents.
WORLD
Five Charts Showing Impact of Russia’s Invasion of Ukraine
Here are five charts showing how the Russian attack against Ukraine affected the country’s economy and how it funds its wartime budget.
BUSINESS
US-China standoff hits G-20 effort to revamp poor nations’ debt
One hope for this week’s G-20 meeting is that a new endorsement of the debt framework by China’s finance ministry might provide cover for those bank executives.
WORLD
Being surrounded by men not new, always disappointing, Lagarde says
Lagarde’s 2019 appointment to lead the ECB was a landmark event in improving gender diversity in economic policymaking, though she remains in the minority — both in her own institution and internationally.
WORLD
Fed minutes to show support level for larger hikes, higher peak
Recent economic reports showed robust retail sales, a stronger-than-expected rebound in US producer prices and consumer prices that are not slowing by as much as forecast.
WORLD
Tesla board misrepresented Musk’s $55 billion pay package, judge told
A lawyer for Tesla’s directors countered Varallo by arguing that the board’s 26-page proxy disclosure about Musk’s pay “was fulsome” and accurately described the “give and get” underlying the plan.
TECHNOLOGY
Porsche Stuns Private Debt Market With Record €2.7 Billion Sale
The offering this month, which was initially marketed at only €500 million, pulled in about 120 investors including European, Asian and American banks, pension funds and insurers.
BUSINESS
Hackers start selling data center logins for some of world’s largest corporations
Responding to questions about Resecurity’s findings, GDS said in a statement that a customer support website was breached in 2021. It’s not clear how the hackers obtained the STT GDC data.
BUSINESS
JPMorgan cuts about 30 investment banking jobs in Asia Pacific
The cuts to its Hong Kong and China-based bankers are the biggest seen in years, though they make up less than 5% of its investment banking headcount in the region, the people said, asking not to be identified because the matter is confidential. Most of those affected are junior level bankers, they said.
BUSINESS
World’s largest four-day work week trial finds few are going back to five-day format
The study involved 61 organisations and about 2,900 workers who voluntarily adopted truncated work weeks from June to December 2022. Only three organizations decided to the pause the experiment, and two are still considering shorter hours
WORLD
Biggest earners may not be the smartest workers, study says
The research, published in the European Sociological Review in January, found that higher general intelligence was correlated to higher wages—but only up to a threshold of about 600,000 Swedish krona ($57,300) a year.
BUSINESS
Kotak Mahindra Bank taps Egon Zehnder for CEO Search
The board is expanding the search to ensure it finds suitable external candidates, they said, asking not to be identified discussing confidential information.
WORLD
Asia may see more rate hikes if core CPI stays high: IMF
Policy makers must “stay alert” despite a slowdown in headline inflation, as the core gauge — which strips out transitory and volatile items — still runs above target, IMF’s Krishna Srinivasan, Thomas Helbling and Shanaka J. Peiris wrote in a blog post published on Tuesday.
ECONOMY
G-20 host India taps soft power as it champions new world order
Already the world’s most-populous nation according to some estimates, India is one of the fastest-expanding economies at a time of sluggish growth around the globe, luring companies like Apple Inc. to expand
BUSINESS
Adani to stay away from the race for a stake in power trader PTC
Adani was among the possible bidders reviewing preliminary information on the Mumbai-listed company, Bloomberg News reported in January.
