BUSINESS
Credit Suisse shares on worst run since 1989 as losses deepen
The stock fell as much as 5.49% to a record low of 2.67 Swiss francs, just 6% above the price of 2.52 francs for subscription rights that Credit Suisse offered existing investors. The bank had set the price at a discount of 32% to its stock value after the strategy presentation in October.
BUSINESS
The US and UK should be welcoming talent, not driving it away
Yet both countries are also threatening their long-term prospects with foolish policy. Specifically, their inability to enact sensible immigration reforms means that the sectors they rely on to power their growth -- from tech to higher education -- may well run short of resources.
BUSINESS
Apple renames mixed-reality software ‘xrOS’ in sign headset is approaching
The company plans to introduce the headset as early as next year, along with a dedicated operating system and app store for third-party software, according to people with knowledge of the matter.
STOCKS
Wall Street preps for year-end stock rally as volatility plunges
Meanwhile, the Dow Jones Industrial Average rose 20% from its September low, meeting the technical definition of a bull market. And the tech-heavy Nasdaq 100 Index surged 4.6% to the highest since September.
BUSINESS
Beijing to let some low-risk patients home quarantine as covid soars
Low-risk patients can do home isolation for a week if they choose, people familiar with the plans said, dialing back a nationwide policy that has seen everyone with Covid sent to government quarantine sites regardless of severity, to halt transmission chains.
BUSINESS
Elon Musk’s neuralink hopes to implant computer in human brain in six month
Neuralink has been refining the product, which consists of a tiny device and electrode-laced wires, along with a robot that carves out a piece of a person’s skull and implants it into the brain.
BUSINESS
Elon Musk 'bravest, most creative' on earth, find out who's praising the maverick
People need to give Twitter owner Musk “a break,” they are “so nitpicky on him,” Hastings told journalist Andrew Ross Sorkin onstage at the New York Times Dealbook conference on Wednesday. He means well despite some mistakes, Hastings added.
BUSINESS
Crypto coin cracks after luring Indians with 3,100% returns
These days, the 51-year-old drives around in his new Toyota sedan — one he couldn’t afford a year ago — on the dusty streets of his home town in rural India, showing off his success from investing in BlockAura tokens.
BUSINESS
Mark Zuckerberg calls Apple app store rules a ‘conflict of interest’
Billionaire Elon Musk added to the chorus after his acquisition of Twitter Inc., sending a flurry of tweets this week denouncing Apple’s fees and restrictions on what apps can be sold.
BUSINESS
Jerome Powell signals downshift likely, more hikes to come
Jerome Powell comments, in a speech Wednesday at the Brookings Institution in Washington, likely cement expectations for the Fed to raise interest rates by 50 basis points when they meet Dec. 13-14, following four straight 75 basis-point moves.
BUSINESS
Stagflation is Just what the Economy needs
Actually, a bit of stagflation is just what the Fed should be — and appears to be — aiming for.
BUSINESS
Tata steps up aviation reboot with Singapore Airlines deal
“India needs a high-quality, dependable long haul and ultra-long haul airline to meet the country’s air connectivity requirements,” CAPA Centre for Aviation said in a statement following the announcement that Vistara will merge with Air India. Singapore Airlines will invest $250 million for a 25% stake in the national carrier, which will become India’s second-biggest airline.
ECONOMY
World-topping $100 billion in remittances head to India in 2022
Highly-skilled Indian migrants living in wealthy nations such as the US, UK, and Singapore were sending more money home, according to a World Bank report
BUSINESS
Short tenure bonds hint that RBI rates may be near peak
Investors such as Quantum Asset Management Co. and Tata Asset Management Private are piling into debt with maturities of up to five years.
BUSINESS
Flipkart veteran building unified shopper identity across stores
The Indian startup created by engineer Ranjith Boyanapalli, a former executive at Walmart Inc.’s Flipkart, raised the funds from backers including Global Founders Capital Management and angel investors such as Binny Bansal and Sujeet Kumar.
BUSINESS
Godrej group to double oil palm plantations in six years
The group’s agriculture and chemicals arm Godrej Agrovet Ltd. will more than double the acreage of oil palm trees it manages over the next six years, Chairman Nadir Godrej said in an interview at the company’s headquarters in Mumbai.
BUSINESS
Investors want more of India, says Goldman Sach’s Santanu Sengupta
As investors chase markets with digital new economy assets, India has consistently attracted annual foreign direct investments of $50 billion to $55 billion, even in the pandemic, Sengupta said in an interview with Bloomberg Television’s Haslinda Amin and Rishaad Salamat.
BUSINESS
Bollywood blockbusters, Hollywood hits expected to lure Indians back to cinemas
The release lineup for the next few months “is looking very good,” INOX Leisure Ltd. Chief Executive Officer Alok Tandon said, pointing to robust expectations for the recently released crime thriller Drishyam 2 and the upcoming Avatar sequel.
BUSINESS
Big tech has failed to live up to its promise
Technology firms may make up 36% of the S&P 500, but they represent only 0.3% of workers.
BUSINESS
Migrant workers face worse choices than building World Cup stadiums
Hundreds of construction projects across the United Arab Emirates stalled. And the workers were left stranded at home, work permits in hand.
BUSINESS
How Donald Trump could win the 2024 Republican nomination
The contest is now in full flight, even though only one candidate, Trump, has formally announced. In echoes of 2016, political observers have been debating whether Trump could capture the nomination with a relatively small share of the overall vote.
BUSINESS
GIP said to mull deal for infrastructure firm tower Vision India
The private equity firm has been sounding out financing for a potential deal that could value Tower Vision India at about $300 million to $400 million, said the people, who asked not to be identified discussing private information.
BUSINESS
Adani fundraise targets retail buyers, allows discount pricing
The 200 billion rupee ($2.5 billion) equity sale via the further public offer mechanism, approved Friday, gives the company maximum flexibility, including pricing at a discount to target more investors, Chief Financial Officer Jugeshinder Singh said in an interview.
BUSINESS
GIFT City - India’s Free-Market Oasis - Looks to Take On Singapore And Dubai
In the state of Gujarat, just a few glass-fronted towers greet the 20,000 employees of companies such as JPMorgan Chase & Co. and HSBC Holdings Plc who commute in each weekday. Its full name is Gujarat International Finance Tec-City, but it’s more commonly known as GIFT City.
