BUSINESS
Musk starts assembling new cadre of leaders inside Twitter
The most visible among the new guard has been Yoel Roth, a Twitter veteran who reports to Musk and is now running all of the company’s Trust and Safety efforts.
BUSINESS
KKR, GIP nab a $16 billion telecom consolation prize from Vodafone
Vodafone offloaded part of the unit, Vantage Towers AG, in a March 2021 initial public offering. But it wants to sell more to cut debt and move from majority ownership to shared control.
BUSINESS
Don’t count on the usual post-midterm stock rally
Consider the flimsy attempts to explain what may otherwise be a coincidence. One leading explanation is that midterm elections generally lead investors to anticipate the arrival of a new legislature with a potentially stimulative fiscal agenda.
BUSINESS
Apple limits iPhone file-sharing tool used for protests in China
The previous options didn’t limit the time involved. Users could choose to get files from everyone, no one or just their contacts
ECONOMY
Tomorrow's US inflation data may influence rates more than today's CPI figure
While an expected fall in CPI will likely be welcomed by investors, Friday’s University of Michigan 5-10 year inflation expectations will resonate with Federal Reserve officials fearful of price rises becoming entrenched
BUSINESS
Sequoia Capital writes down entire value of its FTX stake
The VC firm put in about $214 million last year in FTX’s international and US businesses, Sequoia told its investors Wednesday. The writedown includes holdings of both FTX.com and FTX.us, said a spokeswoman for the firm.
CRYPTOCURRENCY
Crypto markets face ‘cascade’ of margin calls from FTX crisis, says JPMorgan team
There are fears that the potential bankruptcy of FTX.com could lead to contagion that takes down other crypto outfits
BUSINESS
Global supply chains set for overhaul next year, HSBC poll shows
Just 11 percent of respondents in the HSBC Holdings Plc survey said transforming their supply chain wasn’t a priority next year, but 42 percent plan to do so and almost 47 percent see it as a priority at some stage in the future
BUSINESS
Singapore’s Sembcorp accused of greenwashing in India coal-powered asset sale
In order to reduce its official carbon footprint, Sembcorp Industries Ltd. sold two coal-fired power plants to an Omani group for $1.5 billion.
BUSINESS
India plans unity theme for G-20 as PM Modi balances global powers
“India’s G-20 presidency is coming at a time of crisis and chaos in the world,” Modi said on Tuesday, adding that India’s logo for the summit would be the lotus as a symbol of hope. “No matter how adverse the circumstances, the lotus still blooms.”
BUSINESS
The wild west of Crypto claims yet another victim as Binance buys out FTX
Rival billionaire Changpeng Zhao of Binance is buying him out. Zhao had earlier announced plans to sell Binance's $530 million stash of the FTX-run token FTT.
BUSINESS
What's Sunakism? Watch the capital gains tax rate
The runup to a budget this important inevitably involves some theater.
BUSINESS
OPEC+ cuts that steadied market now bring risk of $100 crude
For about a month, the group’s decision appeared to fulfill its stated aim of stabilizing oil markets, with crude prices steadying against a deteriorating backdrop for fuel demand.
BUSINESS
Coinbase CEO Brian Armstrong says trading activity rising, no plan to buy FTX US
The liquidity crunch that prompted Binance’s tentative agreement with FTX wouldn’t happen at Coinbase because the company doesn’t engage in “risky behaviors,” Chief Executive Officer Brian Armstrong said in a Bloomberg Television interview.
BUSINESS
Tesla loses valuation race to Berkshire as growth stocks sputter
The Elon Musk-led electric-vehicle maker’s shares closed with a market valuation of $604 billion Tuesday, versus nearly $645 billion for Warren Buffett’s conglomerate, underscoring this year’s great economic upheaval as former high-flying technology stocks plunge anew while industrial companies outperform.
BUSINESS
Donald Trump deepens attacks on Ron DeSantis as he inches toward 2024 comeback bid
The threat is a familiar move from Trump’s playbook to thwart potential opponents. It’s also the latest sign that the former president views DeSantis as his chief rival in a potential 2024 GOP presidential primary field.
BUSINESS
India considers scrapping early monthly release of trade data
The government plans to instead release monthly exports and imports data once a month, the people said. The move is expected to provide a clearer picture of the nation’s trade and comes amid a delay in collecting data from special economic zones and ports, the people said.
BUSINESS
How Qatar is handling a year’s worth of boozing in four weeks
The signs started appearing early this year: At the Qatar Distribution Company — the only alcohol retailer in the conservative Muslim country — a massive poster with Budweiser branding featuring Lionel Messi was plastered across the entrance.
BUSINESS
Macquarie starts $2 billion global battery business in electrification race
Eku Energy, created by the infrastructure giant’s Green Investment Group, has a three gigawatt-hour pipeline of capital expenditure worth $2 billion, and is set to complete its first project in Japan in the next few months.
BUSINESS
Twitter layoffs will shrink free speech around the world: Mihir Sharma
In Brazil, a team of 150 was let go, according to Bloomberg Línea. Shortly after Elon Musk took over the company, the number of employees with the ability to suspend or ban an account for breaches of user policies was at least temporarily reduced from “hundreds” to about 15.
BUSINESS
Central banks in emerging markets are biggest gold buyers
That’s a line of thinking you might associate with cranky gold bugs, but it’s not a million miles away from the rationale behind fund flows in the precious metals market right now — and nations are in the driving seat.
BUSINESS
Twitter now asks some fired workers to please come back
Some of those who are being asked to return were laid off by mistake, according to two people familiar with the moves.
BUSINESS
Meta to start laying off thousands of staff this week, WSJ says
The job cuts could come as early as Wednesday, the newspaper said. The company has already told employees to cancel non-essential travel from this week, according to the report.
BUSINESS
Thailand to beat tourism target as Indians, Malaysians lead rush
Tourist arrivals totaled 7.56 million as of Oct. 30, with at least 1.5 million visitors a month expected during the remainder of the year, government spokesman Anucha Burapachaisri said in a statement Saturday.
