COMMODITIES
Oil edges lower as slowdown concerns eat into OPEC-driven gains
In China, the world’s largest crude importer, authorities are signalling that there’ll be no let up in the nation’s Covid Zero policy, potentially acting as a brake on energy demand
BUSINESS
‘No possibility of reconciliation’ as US slams China chips
The US Commerce Department on Friday unveiled sweeping regulations that limit the sale of semiconductors and chip-making equipment to Chinese customers, striking at the foundation of the country’s efforts to build its own chip industry
BUSINESS
US stocks face brutal earnings season with all eyes on Apple
More than 60% of the 724 respondents to the latest MLIV Pulse survey say this earnings season will push the S&P 500 Index lower.
BUSINESS
Adani group said to be in talks for Jaiprakash’s Cement unit for $606 million
The ports-to-power conglomerate could pay about 50 billion rupees ($606 million) for a cement grinding unit and other smaller assets, one of the people said, asking not to be identified as the information is private.
BUSINESS
NFT platform OpenSea’s CFO exits role in another crypto shake-up
The latest in a spate of C-suite departures in the sector comes from nonfungible token marketplace OpenSea, where Brian Roberts has exited from the role of chief financial officer after less than a year in the job.
BUSINESS
Era of peak yields signals entry point for emerging-market bets
It’s a combination of two peaks. One, in inflation: Developing nations from India to Brazil are reporting declines in consumer-price growth, early victories in a war that’s gone on for two years. Two, monetary tightening: From the US to UK and Europe, wagers on rate hikes that kept surging until last month are now moderating.
BUSINESS
Vladimir Putin to meet top security officials as Crimea bridge blast hits prestige
“The authors, the executors, the commissioners are Ukraine’s secret services,” Putin said at a meeting with Alexander Bastrykin, chairman of Russia’s Investigative Commission, according to a transcript posted on the Kremlin website.
BUSINESS
Investors on guard as stocks rally sputters ahead of data deluge
The S&P 500 and Nasdaq 100 indexes are both coming off their best weeks in a month. But the way Friday ended, it’s hard to feel optimistic. Where the market goes from here likely lies in a batch of economic data that will arrive over the next couple of days.
BUSINESS
Mohamed El-Erian blames Fed for ‘very high’ risk of a damaging recession
“Not only does it have to overcome inflation, but it has to restore its credibility,” El-Erian said of the US central bank in a CBS News interview Sunday. “So yes, I fear we risk a very high probability of a damaging recession that was totally avoidable.”
TRENDS
Branding 101 from 007 — and ‘Dr. No’
“Bond told the story in simple terms, with good men and bad men, like an adventure story out of a book.” — Ian Fleming, Dr. No (1958)
BUSINESS
In Pakistan, used cars have more lasting value than money
A falling currency, protectionist market, and high inflation all contribute to the rising value of cars—and a frenzied market for used ones.
COMMODITIES
Gold market’s great migration sends bullion rushing east
In India, it is silver that is seeing big premiums. The differential has soared recently to $1, more than triple the usual level, according to consultancy Metals Focus
ECONOMY-ECONOMY
Fed officials won’t relent on path to 4.5% and may move higher
The aim, which is widely shared among the US central bank’s 19 policymakers, suggests they are on course to deliver a fourth straight 75-basis-point rate increase next month
ECONOMY-ECONOMY
Danger of a $4-trillion hole in world economic outlook haunts IMF
That the IMF and World Bank annual meetings will be fully in-person for the first time since the outbreak of Covid-19 in early 2020, showing progress in bringing the pandemic to heel, will be of limited comfort given other headaches
COMMODITIES
Ban on Russian mining giants may send shockwaves to global metals trade
A ban would simply mean that metal from Russia — which accounts for about 9 percent of global nickel production, 5 percent of aluminum and 4 percent of copper — could no longer be delivered into any warehouses around the world in the LME network
COMMODITIES
Commodities roared into new quarter. Now comes the hard bit
Here are some of the main items for investors to track next week, with attention also falling on struggles along the Mississippi River as water levels dwindle; China’s return to the fray after a week-long break; and key data from Asia on the world’s most-consumed cooking oil
ECONOMY
UK will need to cut 200,000 jobs to avoid debt spiral
The IFS said about 100,000 job cuts this year would ensure the overall wage bill was unchanged, and avoid cuts elsewhere in departments. If pay increases with inflation in 2023, the government would need to cut another 100,000 jobs to keep the bill in check
CRYPTOCURRENCY
Crypto fugitive Kwon gets boost as Terra Aide avoids detention
The court in Seoul said it didn’t see a need to detain the suspect and added there’s scope for legal debate over whether the individual breached the nation’s capital-markets law, charges that Kwon and four others also face.
COMPANIES-2
Indian crypto exchange ZebPay seeks Singapore permit, eyes UAE
Eight-year-old ZebPay has applied for a license in Singapore and is assessing the potential of a similar step in the United Arab Emirates, outgoing Chief Executive Officer Avinash Shekhar said in an interview.
BUSINESS
Billionaire Mukesh Ambani to open family office in Singapore
The Mumbai-based billionaire has picked a manager to hire staff for the new entity and get it running, the people said, asking not to be identified because the matter is private.
CRYPTOCURRENCY
Crypto hacked again in $100 million theft of Binance coin
An exploit occurred on a bridge between blockchains and the issue is “contained now,” Changpeng “CZ” Zhao, billionaire co-founder of Binance, the world’s biggest crypto exchange, said on Twitter on Friday.
WORLD
The fund that helped investors bet against Cathie Wood is taking on Jim Cramer
Tuttle Capital Management — which previously launched an exchange-traded fund betting against Cathie Wood’s stock picks — plans to debut the Inverse Cramer ETF with the ticker SJIM, according to a filing with the Securities and Exchange Commission on Wednesday.
WORLD
Tiger Global targets $6 billion for New Venture Capital Fund
PIP 16 will focus on internet-enabled enterprise software, fintech and consumer companies because they’re “underpenetrated categories” with rapid and long-term growth potential, according to the letter.
WORLD
Fed officials hammering hawkish message on rates heading higher
Five officials, in separate remarks during the course of Thursday, delivered a resolutely hawkish message that inflation is too high and they won’t be deterred from raising rates by volatility in financial markets.
