WORLD
Philippines’ richest man faces scrutiny over empty land’s 25,000% value gain
The company has said the audit is underway and that it didn’t break any rules, but it has left investors guessing about the math
MARKETS
I-T dept raids proprietary trading firm Graviton as govt steps up scrutiny
The raid at Graviton’s offices near New Delhi began at the start of this week and is set to conclude Thursday
BUSINESS
LG India’s bankers hauled in higher fees than Tata’s bigger IPO
LG’s IPO was so popular it ended up being the country’s most oversubscribed billion-dollar offering in 17 years
COMPANIES
Nestle to slash 16,000 jobs as new CEO speeds up turnaround
The reductions, amounting to about 6% of the workforce, will occur over the next two years, the maker of Nespresso coffee capsules and KitKat candy bars said
BUSINESS
Banks and private credit clash after Jamie Dimon’s cockroach barb
JPMorgan Chase & Co. CEO used his bank’s losses from auto lender Tricolor Holdings to say there’s never just one cockroach — a quip some of his nonbank rivals have taken as a shot at them
COMPANIES
SEC suit against Gautam Adani paused due to US govt shutdown
US prosecutors in Brooklyn, New York, indicted Adani in November, accusing India’s second-richest person of fraud and with helping drive a $250 million bribery scheme
WORLD
Bessent calls China trade negotiator an ‘unhinged’ wolf warrior
Bessent claimed Li Chenggang’s August visit to the US capital was not at the request of the Trump administration
WORLD
Ashley Tellis, ex-White House India adviser, charged under Espionage Act
Ashley Tellis was taken into custody after making an initial court appearance on Tuesday in Alexandria, Virginia
BUSINESS
Gold climbs to record on US-China tensions and Fed rate-cut bets
Bullion has risen about 5% so far this week and touched a peak above $4,227 an ounce on Thursday, as a breakneck rally underway since mid-August extended
MARKETS
Asian stocks gain after choppy day on Wall Street
MSCI’s gauge of regional stocks climbed 0.7%, with shares rising in Japan, Australia and South Korea
BUSINESS
RBI sees rupee under speculative attack, will intervene further
The central bank is unwilling to let the currency breach its record low of 88.8050 per dollar level anytime soon, the person said.
BUSINESS
Fossil India is said to weigh IPO that could raise $400 million
The listing would join the growing number of multinational firms seeking to take their Indian units public amid rising investor demand
BUSINESS
Rupee roars back from brink of record low on US trade hopes
The rupee, which had flirted with record lows a day earlier, staged its biggest intraday jump since June 24.
BUSINESS
India to tighten green power rules to safeguard grid stability
The Central Electricity Regulatory Commission is considering further changes to how the gap between scheduled and actual power generation is calculated, according to a document posted on its website.
BUSINESS
Coinbase backs India’s CoinDCX at $2.45 billion valuation
The investment is an extension of CoinDCX’s last fundraise, and once completed will give the firm a post-money valuation of $2.45 billion, according to a Wednesday statement.
BUSINESS
Global investors are pouring more money into climate tech
Private and public investors worldwide channeled as much as $56 billion into green businesses ranging from clean energy to storage and electric vehicles during the nine months ending in September.
BUSINESS
Singapore to impose green aviation fuel levy on flights
The levy will be paid to the Civil Aviation Authority of Singapore, which will procure and manage sustainable aviation fuel, according to Senior Minister of State for Transport Sun Xueling at a parliamentary debate.
BUSINESS
Trump threatens China cooking oil trade as retaliation for soybean boycott
Trump on Tuesday cast the potential move as retaliation against Beijing for its refusal to buy American soybeans, which he said “is an Economically Hostile Act” that is purposefully “causing difficulty for our Soybean Farmers.”
BUSINESS
Gold rises to record on Fed rate-cut signal, US-China tensions
Gold’s advance has been underpinned by central-bank buying, rising holdings in exchange-traded funds, and Fed rate cuts.
MARKETS
Asia stocks gain as rate-cut bets outweigh trade angst
Shares in Japan, South Korea and Australia all rose at the open after Fed Chair Powell’s concerns about a weakening labor market reinforced investors’ expectations for a rate cut in October
BUSINESS
Silver hits all-time high as London squeeze sparks market havoc
The four main precious metals have surged between 56% and 81% this year, in a rally that’s dominated commodity markets.
BUSINESS
JPMorgan to plow $1.5 trillion into US security industries
Chief Executive Officer Jamie Dimon is launching the initiative amid trade brinkmanship between Washington and Beijing.
BUSINESS
Trump and Xi trigger another standoff with world economy at risk
Negotiators from both sides are set to meet in the coming weeks in Frankfurt for talks aimed at extending a rolling 90-day truce that’s set to expire in early November.
BUSINESS
Lenskart, Groww set to cap record month for India IPOs
SoftBank Group Corp.-backed Lenskart plans to launch an IPO worth about $900 million, while Billionbrains, the parent of India’s largest investment platform Groww, is targeting $750 million
