BUSINESS
Wall Street turns crypto risk into a $530 million complex trade
Banks are wrapping crypto exposure into new products that offer returns tailored to distinct risk appetites with some downside protection.
BUSINESS
AI slump dims emerging market stocks amid wait for US jobs report
Nonfarm payrolls rose 64,000 in November after a 105,000 decline in October, according to Bureau of Labor Statistics data released Tuesday.
BUSINESS
Kraft Heinz replaces CEO ahead of split into two public firms
The move follows a difficult period for the food company, which said in September that it would split into two separate entities.
BUSINESS
McKinsey plots thousands of job cuts in slowdown for consulting industry
The firm's leadership has discussed with managers in non-client-facing departments the need to cut about 10% of headcount across their business, people with knowledge of the matter told Bloomberg.
BUSINESS
Zepto said to plan filing for $500 million India IPO next week
The 10-minute delivery platform’s offering is expected to include a fresh issue as well as secondary share sales by existing investors, with proceeds earmarked for expansion, sources told Bloomberg.
BUSINESS
Rupee rout dims hopes of a strong recovery in Indian stocks
Asia’s worst-performing currency this year is emerging as a near-term threat to a rebound in Indian stocks, despite strong economic growth and a revival in corporate earnings.
BUSINESS
Elon Musk’s fortune soars above $600 billion on new SpaceX valuation
The world’s richest person is worth almost $638 billion, according to the Bloomberg Billionaires Index, after SpaceX hit a valuation of about $800 billion in an insider share sale — a deal that makes the Starbase, Texas-based rocket maker the world’s most valuable private company.
BUSINESS
Bitcoin breaches $86,000 while sinking toward year’s lows
Bitcoin has continued to fall with other risk assets in recent weeks but hasn’t rebounded when they have, breaking its usual upside correlation.
WORLD
Bondi shooting hero bystander draws near $2 million in donations
Extraordinary footage of the man’s actions began circulating on social media on Sunday, shortly after two men, later identified as a father and son, started shooting into a crowd gathered to celebrate the first day of Hanukkah.
MARKETS
Asian stocks fall ahead of US jobs data, Yen gains
The yen, a traditional safe-haven currency, gained against the dollar to trade around 154.85. The Bank of Japan is expected to lift its key rate to the highest level in three decades on Friday.
WORLD
Trump sues BBC for $5 billion over 2024 documentary edit
Trump threatened to sue after BBC Chairman Samir Shah acknowledged Nov. 10 that the edited footage of Trump’s speech, aired on the Panorama program in 2024, wrongly gave “the impression of a direct call for violent action.”
BUSINESS
India’s Star Air considering $1 billion Embraer jet purchase
Star Air is the largest regional carrier in India and carried 0.5% of India’s domestic traffic during the month of October
BUSINESS
Trump’s promised big tax tax cuts are expected to disappoint the average worker
Most taxpayers will likely see only a modest boost that will do little to assuage their pocketbook concerns.
BUSINESS
TCS and Infosys to bear brunt of Trump’s $100,000 H-1B visa worker fee
Large tech and IT firms have traditionally dominated the H-1B program, the primary pathway to US careers for foreign workers with at least a bachelor’s degree.
BUSINESS
MUFG is said to near deal for stake in Shriram Finance
Shriram operates businesses across urban and rural areas, focusing on loans for commercial vehicles, tractors and passenger cars. It also lends to small and medium-sized enterprises
WORLD
Robot vacuum Roomba maker goes bankrupt, Chinese owner emerges
The Massachusetts-based consumer robot maker, which is currently listed, will be taken over by China’s Shenzhen PICEA Robotics Co. and a subsidiary of the Chinese firm
BUSINESS
Warner Bros. adds blockbuster finish to $4.5 trillion deals haul
Global transaction values have risen around 40% to about $4.5 trillion this year, data compiled by Bloomberg show, as companies chase ultra-ambitious combinations, emboldened by friendlier regulators.
BUSINESS
SMBC Asia inks debut $3.2 billion SRT with Blackstone, Stonepeak
The transaction, covering Australian and Asian project finance loans, was finalized between September to October, it said in the statement.
BUSINESS
China Vanke vows to improve bond delay plan after failed vote
Vanke, once China’s biggest homebuilder by sales, also said that it would hold a noteholder meeting on Thursday to discuss next steps for its 2 billion yuan ($283 million) security, which matures Dec. 15.
WORLD
Moore Threads plans to use most IPO proceeds to buy bank products
The company plans to invest 7.5 billion yuan ($1.1 billion) of 'idled funds,' equal to about 90% of the proceeds from its initial public offering
BUSINESS
Axis to hire 50 private bankers to target wealth boom in India
The firm is expanding its team of bankers across locations to cater to the growing needs of high-net-worth individual and ultra-high net-worth individual clients
WORLD
Wall Street sees AI bubble coming and is betting on what pops it
The queasiness about the AI trade involves its uses, the enormous cost of developing it, and whether consumers ultimately will pay for the services. Those answers will have major implications for the stock market’s future.
WORLD
Hong Kong’s Jimmy Lai found guilty in landmark security case
The city’s High Court on Monday convicted Lai, 78, on two counts of conspiring to collude with foreign forces — a crime punishable by life in prison under the China-imposed National Security Law.
WORLD
OpenAI to end equity vesting period for employees: Report
The move comes after the company shortened the vesting period for new hires to six months from the industry standard of 12 months in April, the report said, adding that Elon Musk’s xAI made a similar change in the summer.
