BUSINESS
Tesla Stock Had the Worst Year Ever. That Doesn’t Make It Cheap
Analysts are generally bullish on the company, despite the fact that it has dropped by 65%, however, investors have their reservations.
TRENDS
Messi may not be soccer’s GOAT for long
Having led Argentina to triumph in the World Cup, Lionel Messi cemented his claim to being the greatest soccer player of all time.
BUSINESS
Tesla was 4-1/2 times the size of Exxon, now its only 16% bigger
The symbolism of Tesla’s electrified market cap surpassing that of Big Oil stalwart Exxon Mobil Corp. in June 2020 was inescapable.
BUSINESS
The FTX crypto victim card can be hard to play
Sam Bankman-Fried, currently sitting in a Bahamian jail, has been accused by the US securities regulator of orchestrating a years-long fraud that diverted billions in customer funds from opaque and offshore exchange FTX to a now-bankrupt trading empire.
BUSINESS
The SEC wants to upend the stock market. Is it worth it?
The SEC is proposing a whole suite of reforms aimed at reuniting the market.
ECONOMY
ECB is doubling down on rate hikes just as a recession bites
Every increase in borrowing costs, including Thursday’s half-point move, advances the fight by Frankfurt officials against rampant inflation — but also risks a higher toll on the economy
WORLD
From Mardi Gras to Burning Man, a year of wild human experiences
The world’s greatest festivals and expressions of freedom and joy are making a big collective comeback in 2023.
BUSINESS
Creative AI is generating some messy problems
In the last few years, artificial-intelligence systems have shifted from being able to process content – recognizing faces or reading and transcribing text — to creating digital paintings or writing essays.
BUSINESS
The Fed shouldn’t raise its inflation target
Previously, the Fed had tried to hit the 2% target at all times, regardless of past performance.
BUSINESS
The industrial future is taking shape & VCs are missing out
Investors — once enamored of asset-light firms and high returns — better be prepared to put in billions of dollars towards this, or risk being crowded out.
BUSINESS
Jet Airways investor Fritsch’s property raided in Liechtenstein
Police investigators in the small Alpine principality are evaluating the confiscated evidence from the raids conducted on Oct. 26, Liechtenstein’s Prosecutor General Robert Wallner said in an emailed response to questions, without naming Fritsch. Authorities raided the properties and froze other assets tied to Fritsch, said a person with knowledge of the raids, who didn’t want to be identified discussing an ongoing probe.
BUSINESS
India grapples with LNG glut as consumers balk at high gas rates
Storage tanks at the Dahej and Hazira LNG import terminals in India are near maximum capacity, which means scheduled deliveries may need to be delayed, according to traders with knowledge of the matter.
BUSINESS
China’s EV are coming after Fiat & Volkswagen: BMW, Mercedes next?
China’s auto exports rose over 50% in the first nine months of this year, shipping out over 2 million vehicles.
BUSINESS
Even Apple will need to eke out some growth
This year’s iPhone release was the earliest in six years, adding a few more days to the September quarter and helping it hit sales growth of 9.7%.
WORLD
Don't count on Sunak to protect your UK Pension
One of Truss’s last acts as PM was to reaffirm the government's commitment to raise the state pension each year by the higher of earnings, inflation or 2.5%.
BUSINESS
Zuckerberg should focus on the Midterms, not the Metaverse
The metaverse project is still in its infancy: While Facebook has about 3 billion active users, Horizon Worlds, the VR platform that serves as the foundation of metaverse experience, has just 200,000, according to internal documents revealed by the Wall Street Journal.
WORLD
Emmanuel Macron throws down inflation gauntlet to ECB
France should, in theory, be a poster child for the kind of loose spending that has markets panicking over deficits. It emerged from Covid-19 with a debt-to-GDP ratio of 113% and a budget deficit of 7%, higher than the euro-area average, having pulled out the stops to protect jobs.
WORLD
From a failing UK economy to Party rifts: Sunak’s uphill battle
His victory on Monday puts him in charge of an unenviable cocktail of problems including a struggling economy, a long-running energy squeeze and a divided party that’s slumped in the polls.
BUSINESS
How Front-Loading Rate hikes risks financial instability
A third issue, that of front-loading the increases, is particularly relevant in this rate cycle.
POLITICS
Rishi Sunak brings a promise of stability, but can he stop winter from biting?
Sunak’s appointment has been welcomed by financial markets as promising political stability, after Liz Truss’s disastrous dash for growth via unfunded tax cuts trashed the pound and sent government bond yields soaring in the past month.
POLITICS
Rishi Sunak is a new and old-fashioned Tory
In February 2020, Sunak took his oath of office as chancellor of the exchequer holding a copy of the Bhagavad Gita and celebrated Diwali by putting lights outside his official residence at Number 11 Downing Street.
POLITICS
UK Tories are finally ‘Ready for Rishi.’ Is it too late?
The son of immigrants of Indian descent, Sunak now becomes Britain’s first ethnic minority prime minister during Diwali (the Hindu, Sikh and Jain festival of lights).
BUSINESS
Goldman Sachs lowers US growth forecast for 2023 after rate path change
Following a recent increase in its expectations for Federal Reserve interest rate increases, Goldman Sachs Group Inc. reduced its projections for US economic growth in 2023. Compared to an earlier projection of 1.5%, analysts predicted that the US gross domestic product will rise by 1.1% in 2023.
BUSINESS
IRCTC likely to apply for payments license and amend articles of association — Street is excited
Indian Railway Catering and Tourism Corporation (IRCTC) is likely to amend its articles of association — a document that specifies regulations for a company's operations and defines its purpose — CNBC-Awaaz reported on Friday.
