Bloomberg
Bloomberg
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Regulatory overreach? Sebi and RBI acting tough to restore credibility
Fintech firms in Bengaluru are complaining about regulatory overreach, as is the traditional finance industry in Mumbai.
 "Regulatory overreach? Sebi and RBI acting tough to restore credibility")
Nvidia CEO Jensen Huang unveils successor to its all-conquering AI chip
Huang, Nvidia's co-founder, said AI is the driving force in a fundamental change in the economy and that Blackwell chips are "the engine to power this new industrial revolution"
 "Nvidia CEO Jensen Huang unveils successor to its all-conquering AI chip")
China accuses Evergrande Group of $78 billion fraud, among worst ever
It fuels concern about how widespread such accounting issues are, just as the new China Securities Regulatory Commission chairman is trying to tighten oversight
 "China accuses Evergrande Group of $78 billion fraud, among worst ever")
Unilever to separate its ice cream biz, cut 7,500 jobs in restructuring bid
The move is part of a broader restructuring as Schumacher tries to jumpstart growth. Unilever said the job cuts, which will affect mainly office-based roles, are part of a plan to achieve €800 million
 "Unilever to separate its ice cream biz, cut 7,500 jobs in restructuring bid")
India buying more oil from US as fresh sanctions stifle Russian flows
Russian crude flows to India surged after the invasion of Ukraine and the OPEC+ producer is still the biggest supplier to the South Asian nation, but tighter US sanctions have stranded cargoes
 "India buying more oil from US as fresh sanctions stifle Russian flows")
India, Bangladesh, and Pakistan had world's worst air pollution in 2023
Some of places most affected were in the Middle East, Africa and Central and South Asia. Bangladesh, Pakistan, India, Tajikistan and Burkina Faso ranked as five countries with the most polluted air
 "India, Bangladesh, and Pakistan had world's worst air pollution in 2023")
UBS Group moves past $100 billion a year after Credit Suisse shock
Overnight, the client funds managed by its wealth unit jumped by about one-fifth to $3.4 trillion at the time.
 "UBS Group moves past $100 billion a year after Credit Suisse shock")
India's key Opposition alliance flounders as general elections near
India's finance minister last week defended the electoral bonds, saying cash received under the system was "legitimate"
India's key Opposition alliance flounders as general elections near
India's finance minister last week defended the electoral bonds, saying cash received under the system was "legitimate"
 "India's key Opposition alliance flounders as general elections near")
SEC abused its authority in case against crypto platform, says US judge
An SEC spokesperson said the regulator is reviewing the decision
 "SEC abused its authority in case against crypto platform, says US judge")
US elections: Trump rules out Ramaswamy as running mate as he eyes new team
Trump personally told Ramaswamy he won't be his vice presidential pick, according to people briefed on the discussion,
 "US elections: Trump rules out Ramaswamy as running mate as he eyes new team")
UK tech tycoon Mike Lynch called 'massive fraud' mastermind by US
Lynch's lawyer, Reid Weingarten, countered in his opening that the government's narrative paints a black-and-white picture and "that ain't the way the world works"
 "UK tech tycoon Mike Lynch called 'massive fraud' mastermind by US")
Two tankers with Russia's Urals oil idle for weeks off West Coast of India
It remains unclear why they have been idling but there are growing signs that western sanctions are disrupting the fleet of tankers moving Russian oil
 "Two tankers with Russia's Urals oil idle for weeks off West Coast of India")
Nvidia backs little-known Yotta Data Services in India's biggest AI bet yet
The company's products are so coveted because they're essential for the development of artificial intelligence, the technology that's set off a frenzy in industries around the world
 "Nvidia backs little-known Yotta Data Services in India's biggest AI bet yet")
Didn't get notice from US officials regarding bribery probe: Adani Group
The company "states that it has not received any notice from the Department of Justice of US in respect of the allegation referred to in the said article
 "Didn't get notice from US officials regarding bribery probe: Adani Group")
Vedanta's Sterlite to transfer three power projects to GIC venture
The projects are still under development and the transfer into the Sterlite Grid 32 Ltd. joint venture has been agreed, the people said, asking not to be identified because the matter isn't public
 "Vedanta's Sterlite to transfer three power projects to GIC venture")
Xiaomi shakes up Chinese EV sector, keeping rival XPeng on its toes
Plans for the US to advance a bill that may ban Chinese biotech firms from accessing federal contracts may impact the long-term outlook for firms including WuXi AppTec Co
 "Xiaomi shakes up Chinese EV sector, keeping rival XPeng on its toes")
BAT starts $2 billion buyback after selling part of its stake in ITC
The London-listed company said it will purchase £700 million of its shares in 2024 and £900 million by the end of 2025
 "BAT starts $2 billion buyback after selling part of its stake in ITC")
India unlikely to match China's past 8-10% growth: Morgan Stanley
Even so, Morgan Stanley remains upbeat about India's prospects, and said in a recent report that the current expansion resembles that of the mid-2000s boom, fueled by rising investment
 "India unlikely to match China's past 8-10% growth: Morgan Stanley")
ANZ CEO aims to expand presence in India, China as customer focus shifts
In its home market of Australia, Elliott struck a more hawkish tone than that of the bank's economists on the outlook for interest rates
 "ANZ CEO aims to expand presence in India, China as customer focus shifts")
