BUSINESS
Adani Electricity Mumbai makes dollar bond interest payment
Adani Electricity Mumbai has made the coupon payment of $19.7 million as per schedule, the spokesperson said when asked about the status.
BUSINESS
The middle east never joined this emerging-market stocks rally
Gulf stocks diverged when their emerging-market peers began to take off in November, with the MSCI Emerging-Market Index rising 20% as of Monday. The MSCI GCC Countries Combined Index lost 10% over the same period.
BUSINESS
Fourth US shootdown in eight days makes world wonder what’s next
In reality, the answer is probably more mundane. Officials said they had started watching the skies more closely in the days since the alleged Chinese spy balloon traversed US territory, provoking both a national uproar and a new round of tensions with China.
BUSINESS
Single-letter license plate sells for $3.2 million in Hong Kong
Sunday’s bid was for a license plate with the letter “R” and came at a Lunar New Year auction organized by the Hong Kong Transport Department.
BUSINESS
DBS reveals $976 million Adani exposure, assured by cashflows
Singapore’s biggest lender has no exposure to Adani’s share issues, Gupta said. He added the company has solid cashflows, and he isn’t concerned about the lender’s exposure to the Adani Group as long as these cashflows are ringfenced.
BUSINESS
It’s too soon for stock investors to call victory on inflation
Tuesday’s consumer price index report is forecast to show a deceleration in annual price growth to 6.2% in January.
BUSINESS
Goldman chief David Solomon says bank’s job cuts should have been earlier
In a private meeting in Miami with about 400 of the bank’s partners, Solomon said he was too slow in reducing the bank’s workforce even as signs of headwinds began to emerge in the second quarter of last year, people familiar with the comments told the newspaper.
BUSINESS
Disney streaming tech chief Jeremy Doig leaves ahead of larger staff cuts
Jeremy Doig joined Disney last March after a long run at Google and was in charge of technology for Disney+, Hulu and ESPN+.
ECONOMY
Rising policy rates to upset PM Modi’s Budget math on small savings
Depositors are now more likely to park their monies in attractive bank fixed deposits, instead of government-backed savings schemes, where rate adjustments tend to happen with a lag
COMPANIES
America’s post-pandemic corporate profit boom really is over
Meta Platforms Inc., Apple, Amazon.com Inc., Microsoft Corp, and Alphabet missed consensus earnings estimates by 8 percent
BUSINESS
Trafigura's nickel nemesis was already notorious in metal circles
One of the world’s biggest commodity traders faces more than half a billion dollars in losses from what it described as a ‘systematic fraud’ involving missing nickel.
BUSINESS
A peep into Pakistan when inflation crimps life and livelihood
For months, the world’s fifth most populous country has edged closer to a debt default, echoing the cautionary tales of other developing economies, including Sri Lanka and Venezuela. Inflation is at a 48-year high
WORLD
Lawrence Summers sees turbulence ahead with market complacent about inflation
Former United States Treasury Secretary Lawrence Summers cautioned that a number of factors that had been helping pull inflation down may reverse.
BUSINESS
Air India takes off to biggest deal in commercial aviation history with Airbus & Boeing
Airbus stands to win about 250 orders and commitments in total, comprising 210 of the A320 single-aisle family models and 40 A350s wide-bodies
BUSINESS
Brent oil spikes past $86 as Russia plans output cut in March
Oil prices jumped on the news, with Brent crude erasing earlier losses to rise as much as 1.8% to $85.99 a barrel as of 8:36 a.m. in London.
BUSINESS
Microsoft cuts jobs in HoloLens, Surface, Xbox as layoffs continue
Xbox Chief Phil Spencer emailed employees Thursday to let them know about the cuts without detailing what parts of his business were impacted.
BUSINESS
Malaysia posts highest growth in decades as global outlook dims
Gross domestic product rose 8.7% last year, the highest level since 2000, data from Bank Negara Malaysia and the Department of Statistics showed. That compares with the median estimate of 8.6% year-on-year growth in a Bloomberg survey, and aligns with official expectations.
BUSINESS
IMF says Pakistan bailout talks to continue to finalize pact
The IMF outlined priorities including strengthening Pakistan’s fiscal position with permanent revenue measures, reducing untargeted subsidies while scaling up social protection, allowing the exchange rate to be market-determined to gradually eliminate the foreign exchange shortage.
BUSINESS
HSBC is betting big on India's $400 billion pile of wealth
Those expansion plans are vital to shore up growth at Europe’s largest lender, which is grappling with a downturn in profits from the Greater China region.
BUSINESS
Olaplex customers claim hair loss, scalp injuries in lawsuit
In a statement, Olaplex rejected the allegations in the lawsuit and defended the “safety and efficacy of our products, which are thoroughly tested in house and by independent third-party laboratories,” adding it’s prepared to vigorously defend against the claims.
BUSINESS
Adani stocks remain in MSCI indexes after quarterly review
Billionaire Gautam Adani’s companies have suffered a stock meltdown that at one point erased $117 billion in market value after Hindenburg accused the company of accounting fraud and market manipulation
BUSINESS
Trafigura faces $577 million loss after uncovering nickel fraud
The missing nickel is a blow for the company that has grown rapidly in the past decade to become one of the world’s largest trading houses.
BUSINESS
Adani Group offers coal cargoes at discount in push for quick sales: Report
Adani has coal mines with more than 50 million tons of capacity across Indonesia, Australia and India, producing fuel both for sale in global markets and to be used in Adani’s own power stations.
BUSINESS
Unilever sees consumer backlash worsening on inflation
Unilever will keep raising its pricing as it has only passed off three-quarters of its higher costs onto consumers, Chief Executive Officer Alan Jope said in a Bloomberg TV interview.
