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World currency reserves shrink by $1 trn this yr in record drawdown

Reserves have declined by about $1 trillion, or 7.8%, this year to $12 trillion, the biggest drop since Bloomberg started to compile the data in 2003

Emerging mkts close to completing current bear-market cycle: Morgan Stanley

It's highly likely these markets are bottoming amid "abundant" signs of capitulation, the investment bank's strategists including Jonathan Garner wrote in note

Virgin Atlantic pulls out of Hong Kong; cancels flights, closes offices

Virgin Atlantic Airways Ltd. hasn't operated any passenger flights to Hong Kong since December, after the city banned all flights from the UK during the depths of Covid

Credit Suisse loses Asia deputy wealth management head as departures mount

Credit Suisse Group AG's deputy wealth management head for Asia is leaving after about two decades with the bank, joining a wave of departures from the embattled firm

India's Mars orbiter dies after 6-month mission lasts eight years

The orbiter, called Mangalyaan in Sanskrit, made India only the fourth nation to reach the distant planet; it garnered global attention primarily for its shoestring budget

Coal revival may push power sector's carbon emissions to record high

The jump in fossil fuel use pushed emissions from electricity production up 1.7%, or 133 million tons, in the first eight months of this year, climate think-tank Ember said in a report

Cultural shock: How will Twitter fare under Elon Musk's leadership?

Elon Musk is reviving his original $54.20 takeover bid for Twitter Inc., perhaps because he doesn't want to go through a legal process that divulges more embarrassing text messages

OPEC+ considers output-limit cut of as much as 2 million barrels a day

OPEC+ is considering its biggest production cut since 2020 as it tries to stabilize oil prices, a move that risks cranking up tensions with Washington

Elon Musk's losses in Twitter court fight foreshadowed his surrender

Elon Musk dropped his bid to walk away from a $44 billion buyout of Twitter Inc. after losing a series of pre-trial rulings that may have foreshadowed difficulties in making his case in court.

Musk-Twitter deal revives $12.5 billion headache for Wall Street banks

Musk's proposal to proceed with Twitter acquisition for the original offer price poses a headache at the worst possible time for Wall Street banks already struggling to offload billions in buyout debt

Shortage of nursing staff sparks bidding war as countries vie for talent

Now with pandemic-related travel restrictions easing, countries from Germany to the United Arab Emirates and Singapore are stepping up efforts to lure foreign nurses and other medical professionals

Who are the big winners in Musk's Twitter deal? Merger arbitrage traders

After Musk and Twitter agreed to proceed with the deal at the original offer price at $54.20 a share on Tuesday, the social media company's stock rallied as much as 23%

Musk's Twitter deal has employees asking: Should I stay or should I go?

Presenters from internal groups like the product and revenue teams didn't officially discuss the development, or even acknowledge that Musk was back on board

Twitter deal paves way for 'X, the Everything App', says Elon Musk

Elon Musk said buying Twitter would speed up the creation of something he called "X, the everything app," suggesting he wants to add new services to the social media platform

Apple's iPhone exports from India crossed $1 billion mark in 5 months

At the current rate, outbound shipments of India-made iPhones, mainly to Europe and the Middle East, are set to reach $2.5 billion in the 12 months through March 2023

UK PM Liz Truss hints at benefits cuts, courts fresh Tory rebellion

When people are on a fixed income, when they are pensioners, it is quite hard to adjust. It's a different situation for people who are in the position to be able to work, said Liz Truss

Tesla analysts most bullish on EV maker in more than seven years

Tesla shares are rising Tuesday, up as much as 5.6% to touch $255.91, rebounding from Monday's sharp selloff after third-quarter deliveries missed expectations

Cathie Wood scoops up Tesla as stock tumbles on deliveries miss in Q3

Funds backed by Wood's Ark Investment Management LLC bought 132,213 shares in Elon Musk's company on Monday, marking the firm's first purchase of Tesla since mid-June

HSBC says exploring sale of Canadian operations for latest disposal

A potential sale of HSBC's 100% equity stake in HSBC Bank Canada is among the options being explored, the lender said in a statement.

Nestle to invest $1 billion towards sustainable coffee farming plan

The new plan builds on a previous coffee-sustainability effort that started 12 years ago involving around 100,000 farmers; the goal is to double that in the coming years