Bloomberg
Bloomberg
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India probes L&T's employee welfare arm for alleged fraud
The Registrar of Companies has issued a notice to two companies -- LandT Welfare Co Ltd. and L&T Employees Welfare Foundation -- seeking their response
 "India probes L&T's employee welfare arm for alleged fraud")
Bond losses seen as RBI's rate setters move toward a hawkish stance
The benchmark 10-year yield will climb to 6.40% by December, while the five-year yield will increase to 5.90%
 "Bond losses seen as RBI's rate setters move toward a hawkish stance")
US Fed's reverse-repo facility usage up to record $1.08 trillion
The amount of cash investors are parking at a major Federal Reserve facility surged above $1 trillion once again amid an overabundance of US dollars
 "US Fed's reverse-repo facility usage up to record $1.08 trillion")
Adidas sells Reebok to US firm Authentic Brands Group in $2.5 billion deal
The majority of the price will be paid in cash at closing, with the rest coming as deferred and contingent consideration, the companies said Thursday in a statement
 "Adidas sells Reebok to US firm Authentic Brands Group in $2.5 billion deal")
Richard Branson sells $300-million stake in Virgin Galactic Holdings
The billionaire offloaded almost 10.5 million shares -- about 4% of the space-travel company -- through a company he controls, leaving him with an 18% stake, according to a regulatory filing
 "Richard Branson sells $300-million stake in Virgin Galactic Holdings")
ACME seeks to tap global investors for its $2.7-bn India solar push
It is seeking to raise about a quarter of the total investment by tapping global investors from private equity firms to pension funds
 "ACME seeks to tap global investors for its $2.7-bn India solar push")
Credit Suisse adds risk veterans to board with UBS, Lloyds alums
Credit Suisse is working to rebuild its management ranks after the $5.5 billion hit related to losses from prime brokerage client Archegos
 "Credit Suisse adds risk veterans to board with UBS, Lloyds alums")
Covid-19: China's port shutdown raises fears of closures worldwide
The shutdown at Ningbo-Zhoushan is raising fears that ports around the world will soon face the same kind of outbreaks and Covid restrictions
 "Covid-19: China's port shutdown raises fears of closures worldwide")
India wants Tesla's local sourcing plans, roadmap before any tax breaks
The departments have also asked Tesla for its thoughts on importing fully built cars versus so-called knocked-down units or partially built vehicles
 "India wants Tesla's local sourcing plans, roadmap before any tax breaks")
Rishi Sunak pledges 'no return to austerity' as he plots UK recovery
Gears up for a multi-year spending review in the fall, at which he'll set spending budgets for the next three years
 "Rishi Sunak pledges 'no return to austerity' as he plots UK recovery")
China steps up crackdown on insurance technology companies
The regulator has ordered companies and local agencies to curb improper marketing and pricing practices, and step up user privacy protection, according to a notice seen by Bloomberg News
 "China steps up crackdown on insurance technology companies")
Moderna, BioNTech lose nearly $60 billion in value in two-day drop
The declines deepened Wednesday with Moderna closing 16% lower and BioNTech dropping 14% as trading volume picked up
 "Moderna, BioNTech lose nearly $60 billion in value in two-day drop")
Poland government passes contentious media law; defies US and EU
Parliament's lower chamber voted 228-216 late on Wednesday to approve the legislation, which ostensibly is designed to protect broadcasters from non-European takeovers
 "Poland government passes contentious media law; defies US and EU")
Decoded: Understanding the debate over coronavirus booster shots
US Centers for Disease Control and Prevention recommends that adults receive boosters of the tetanus vaccine every decade
 "Decoded: Understanding the debate over coronavirus booster shots")
At 375,000, US initial unemployment claims drop for third week in a row
Continuing claims for state benefits fell to 2.9 million in the week ended July 31.
 "At 375,000, US initial unemployment claims drop for third week in a row")
China's new regulation blueprint signals its crackdown will go on for years
The document said authorities would "actively" work on legislation in areas including national security, technology and monopolies
 "China's new regulation blueprint signals its crackdown will go on for years")
Edtech firm Eruditus nears $450-mn SoftBank-led funding, valued at $3.2 bn
Some existing shareholders are also offloading about $200 million stake
 "Edtech firm Eruditus nears $450-mn SoftBank-led funding, valued at $3.2 bn")
India set to clear Boeing 737 Max to fly again within days: Report
India, until recently the world's fastest growing aviation market, is increasingly key for global planemakers
 "India set to clear Boeing 737 Max to fly again within days: Report")
Buying shorter debt is now a hot trade in India's bond market
Rising inflation is constraining the central bank from easing further even as the economy remains vulnerable following a deadly wave of coronavirus infections.
 "Buying shorter debt is now a hot trade in India's bond market")
New York Times puts newsletters behind paywall to boost subscribers
The subscriber-only emails will be a mix of new and existing newsletters written by Times journalists and contributors in its news and opinion sections
 "New York Times puts newsletters behind paywall to boost subscribers")
