Shapoorji Pallonji Group has secured an agreement with global private credit lenders to defer part of a 143 billion rupee ($1.7 billion) bond repayment by its unit. The 18 billion rupee payment due on September 30 will now be postponed to December 2025. The firm has already repaid 75 billion rupees in the past two months through asset and share sales.
Asian stocks rose in response to gains in the US market, while the yen strengthened to around 150 per dollar. Expectations for a Bank of Japan interest rate hike diminished following a report questioning the likelihood of an increase. Meanwhile, South Korea's won fell as officials called for calm after a surprising martial-law decree.
Indian benchmark indices, Sensex and Nifty 50, are expected to have a flat to negative start on December 5, influenced by GIFT Nifty trading at 24,517.50. On December 4, the market closed positively for the fourth consecutive session, with Sensex up 110.58 points at 80,956.33 and Nifty up 10.30 points at 24,467.45, driven by gains in realty and financial stocks.
Adeline Chien of UBS Global Wealth Management has successfully increased transactional revenues despite challenging conditions in private banking. Her focus on discretionary portfolio management (DPM) has led to a 12% return on flagship balanced portfolios in 2024, highlighting the value of diversification for her clients.
02:41 05.12.2024
South Korea's parliament has initiated impeachment proceedings against President Yoon Suk Yeol following his controversial announcement and quick reversal of martial law. The opposition Democratic Party, which holds a majority, requires support from eight lawmakers of the ruling People’s Power Party to achieve the necessary supermajority. Amid political turmoil, experts express mixed views on South Korea's investment climate, with some suggesting potential stability if Yoon resigns or is impeached.
Emmanuel Macron is seeking a new prime minister after his government fell due to a no-confidence vote, driven by a coalition of the far right and left over a budget dispute. The new leader will need to navigate a deeply divided parliament to pass a budget aimed at reducing the deficit from 6.1% to 5% of economic output by 2025, following the failed €60 billion budget plan of former Prime Minister Michel Barnier. Macron is expected to address the nation at 8 p.m. on Thursday.
Bitcoin surged toward $100,000 following Donald Trump's selection of a crypto advocate as the next SEC head, raising hopes for looser regulations. The largest digital asset climbed over 3% to $99,226 before settling at $98,451 in early Asian trading. Since Trump's election victory on November 5, the crypto market has gained approximately $1.4 trillion.
Definitive Healthcare Corp. is undergoing significant changes under new CEO Kevin Coop, whose leadership aims to address current challenges through restructuring and a sales reorganization. While the company benefits from strong margins and a growing demand for healthcare data analytics, it faces near-term uncertainties due to leadership transitions and market pressures. Analysts have mixed ratings, with price targets ranging from $4 to $9, as the company seeks to enhance its market position and drive long-term value creation.
Vodafone Idea is set to consider a proposal on December 9 to raise up to Rs 2,000 crore through a preferential equity issuance to its promoter group. This comes as Vodafone Plc plans to offload shares worth Rs 2,700 crore, while Vodafone Idea maintains a cash balance of Rs 13,620 crore, sufficient for its upcoming capital expenditure plans. The company is also working with lenders to secure debt funding for long-term network expansion, with current bank debt at Rs 3,270 crore.
President-elect Donald Trump has nominated former U.S. Senator Kelly Loeffler to lead the Small Business Administration, praising her as a "tremendous fighter" who will work to reduce red tape and support small businesses. Loeffler, who served in the Senate for just over a year, previously lost a runoff election to Democrat Raphael Warnock and has been involved in various business ventures, including founding RallyRight. Her nomination is subject to Senate confirmation.
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