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The rupee ended unchanged at 81.6850 per U.S. dollar last week. "Markets are sensing a softening of approach from the U.S. Federal Reserve and that's giving legs to risk assets. The benchmark 10-year bond yield finished flat at 7.3012% last week. It is expected to stay within a 7.25%-7.33% band this week, with a break below 7.25% considered highly unlikely, the trader said. Many Asian countries are scheduled to release manufacturing data, with China's factory activity data due Wednesday.

☆ J.P.Morgan sees global bond yields dipping in 2023
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +1 min

Nov 25 (Reuters) - Global bond yields will likely fall slightly in 2023 as the balance between demand and supply will improve by $1 trillion, strategists at J.P. Morgan said in a note. There will be a $700 billion contraction in global bond demand next year compared to 2022, while bond supply will likely drop by $1.6 trillion, J.P. Morgan strategists, led by Nikolaos Panigirtzoglou, estimated in the note issued on Thursday. "Based on the historical relationship between annual changes in excess supply and the Global Aggregate bond index yield, a $1 trillion improvement in the demand/supply balance would imply downward pressure on Global Aggregate yields of around 40 basis points," the Wall Street bank said. J.P. Morgan said that while major central banks trimming their balance sheets in 2022 was the single largest contributor to deterioration in bond demand, sell-offs by commercial banks and retail investors were also much higher than estimates. This year was one of the worst for bonds in history.

☆ SSE to sell stake in transmission network business for $1.78 bln
▼ + stars: | 2022-11-25 | by ( Hadeel Al Sayegh | ) www.reuters.com time to read: +1 min

Nov 25 (Reuters) - British power generator and network operator SSE (SSE.L) said on Friday it had reached an agreement to sell a 25% stake in its power transmission network business to Ontario Teachers' Pension Plan Board for 1.47 billion pounds ($1.78 billion). The business, SSEN Transmission – which operates under its licensed entity – Scottish Hydro Electric Transmission plc, will be chaired by SSE's finance director, Gregor Alexander, and Ontario Teachers' will get a proportional representation on the board. The stake sale process is expected to commence in early 2023. Power companies in Britain have been hit by the government's plans to increase a windfall tax to 35% from its current rate of 25% and extend it to power generation firms in an effort to raise tens of billions of pounds to plug a major hole in public finances. ($1 = 0.8258 pounds)Reporting by Radhika Anilkumar in Bengaluru; editing by Uttaresh.V and Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ FTSE 100 flat as housing, retail stocks weigh
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 flat, FTSE 250 off 0.5%Nov 25 (Reuters) - The FTSE 100 was flat on Friday, with gains in defensive healthcare and consumer stocks offsetting weakness in retail stocks as Black Friday sales began against a backdrop of a worsening cost-of-living crisis. The blue-chip FTSE 100 (.FTSE) was flat by 0851 GMT, but set to end with sharp weekly gains on hopes of smaller rate hikes from the U.S. Federal Reserve. Diageo (DGE.L), British American Tobacco (BATS.L) and GSK (GSK.L) supported the FTSE 100, as investors snapped up defensive stocks that tend to perform well in a slowing economy. Retail stocks (.FTNMX404010) dropped 0.4% on Black Friday, which typically marks the beginning of the holiday shopping season. The domestically focused FTSE 250 midcaps (.FTMC) slid 0.5%.

☆ Indian shares subdued on divergent rate hike views
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Nov 25 (Reuters) - Indian stocks opened marginally lower on Friday, after the benchmarks closed at record highs in the previous session, with investors digesting conflicting signals from global central banks on the interest rate environment. The benchmark S&P BSE Sensex (.BSESN) opened down 0.18% to 62,164.65, while the NSE Nifty 50 index (.NSEI) fell 0.14% to 18,459.00. The European Central Bank's equivalent of Federal Reserve rate-setting committee's minutes that came out on Thursday showed that the room for slowing down the pace of interest rate adjustments remained limited, in contrast to the U.S. central bank's assessment. Nifty IT index (.NIFTYIT) lost 0.4%, with seven of the 10 constituents falling in today's session. The Nifty Midcap 100 (.NIFMDCP100) and Nifty SmallCap 100 (.NIFTYSMCP100) indexes outperformed larger peers, rising 0.33% and 0.47%, respectively.

☆ China's Baidu beats Q3 revenue estimates as ad sales recover
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

Nov 22 (Reuters) - Baidu Inc's (9988.HK) third-quarter revenue beat Wall Street estimates on Tuesday, as China's search engine giant benefited from a recovery in online advertising sales and growth in its cloud and artificial intelligence (AI) business. The company has been looking to grow its cloud and AI business, which includes autonomous driving, to diversify its revenue sources. Baidu's revenue rose 2% to 32.54 billion yuan ($4.56 billion) in the three months ended Sept. 30, beating the 31.79 billion yuan average estimate of 20 analysts, according to Refinitiv data. The company's operating income rose to 5.32 billion yuan from 2.31 billion yuan a year earlier. ($1 = 7.1388 Chinese yuan renminbi)Reporting by Eva Mathews in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Petrofac CEO to step down, shares fall
▼ + stars: | 2022-11-22 | by ( Radhika Anilkumar | ) www.reuters.com time to read: +2 min

SummarySummary Companies CEO Sami Iskander to step down end of MarchTo be replaced by senior McDermott executive Tareq KawashShares down 3.2%Nov 22 (Reuters) - Oilfield services provider Petrofac Ltd (PFC.L) said on Tuesday that Sami Iskander would step down as chief executive officer at the end of March 2023 and be replaced by Tareq Kawash, a senior executive at energy firm McDermott. Shares in Petrofac, which did not give a reason for Iskander's planned departure, were down 3.2% at 0855 GMT. "PFC's balance sheet will come under renewed scrutiny," analysts at Jefferies said in a note. He will take over as Petrofac CEO on April 1. Reporting by Radhika Anilkumar in Bengaluru; Editing by Savio D'Souza and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Key winners at the 2022 American Music Awards
▼ + stars: | 2022-11-21 | by ( Danielle Broadway | ) www.reuters.com time to read: +1 min

Nov 20 (Reuters) - The 2022 fan-voted American Music Awards were handed out at a ceremony in Los Angeles at the Microsoft Theater on Sunday, hosted by Wayne Brady. Following is a list of winners in key categories;ARTIST OF THE YEARTaylor SwiftNEW ARTIST OF THE YEARDove CameronCOLLABORATION OF THE YEARElton John & Dua Lipa -- "Cold Heart"FAVORITE TOURING ARTISTColdplayFAVORITE MUSIC VIDEOTaylor Swift -- "All Too Well (Taylor's Version)"FAVORITE MALE POP ARTISTHarry StylesFAVORITE FEMALE POP ARTISTTaylor SwiftFAVORITE POP DUO OR GROUPBTSFAVORITE POP SONGHarry Styles -- "As It Was"FAVORITE MALE COUNTRY ARTISTMorgan WallenFAVORITE FEMALE COUNTRY ARTISTTaylor SwiftFAVORITE COUNTRY DUO OR GROUPDan + ShayFAVORITE MALE HIP-HOP ARTISTKendrick LamarFAVORITE FEMALE HIP-HOP ARTISTNicki MinajFAVORITE ROCK ARTISTMachine Gun KellyFAVORITE POP ALBUMTaylor SwiftReporting by Danielle Broadway; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares open lower, weighed down by China, rate worries
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Nov 21 (Reuters) - India's shares opened lower on Monday, dragged down by auto, IT and consumer stocks, while the likelihood of tighter U.S. monetary policy and worsening COVID-19 infection numbers in China weighed on sentiment. The S&P BSE Sensex (.BSESN) shed 0.57% to 61,309.82 as of 0348 GMT, while the NSE Nifty 50 index (.NSEI) lost 0.51% to 18,214.45. The MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 1.25%Oil prices hovered at two-month lows, in part due to concerns over China's demand. Foreign institutional investors sold 7.51 billion Indian rupees ($91.79 million)($92 million) worth of equities on Friday, while domestic investors bought 8.90 billion rupees ($109 million) of shares, per provisional NSE data. ($1 = 81.8200 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Twitter's ex-CEO Jack Dorsey says will not retake role
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: 1 min

Nov 16 (Reuters) - Former Chief Executive Officer of Twitter Jack Dorsey said on Wednesday that he will not accept the position of CEO of Twitter. When asked by a Twitter user if he would accept the position as Twitter CEO, he replied "nope". Reporting by Akanksha Khushi in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Blackstone to take majority stake in India's R Systems
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: 1 min

Nov 17 (Reuters) - Blackstone Inc (BX.N) said on Thursday it will buy a 52% stake in Indian technology and analytics services company R Systems International Ltd (RSYS.NS) for $359 million. Blackstone will launch a conditional delisting offer at a price of 246 rupees per share, it said in a statement. Reporting by Shivani Tanna in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares down on concerns over Fed's rate posture
▼ + stars: | 2022-11-17 | by ( Praveen Paramasivam | ) www.reuters.com time to read: +2 min

BENGALURU, Nov 17 (Reuters) - Indian shares slipped on Thursday, mirroring the weakness in Asian peers, amid growing signs that the Federal Reserve might not temper its aggressive monetary policy anytime soon. Meanwhile, Asia-Pacific shares ex-Japan (.MIAPJ0000PUS) slid a steeper 1.47%, with analysts pinning the smaller drop in local equities to India's fiscal health and economic growth prospects. San Francisco Fed President Mary Daly even said a pause was off the table. The Fed's stance could trigger "bouts of volatility," said Prashanth Tapse, vice president of research at Mehta Equities. "Traders are not uncomfortable with the high valuation of Indian markets, hence periodic profit-taking will continue."

Nov 17 (Reuters) - Activision Blizzard (ATVI.O) said on Thursday it would suspend most Blizzard game services in mainland China once its current licensing agreements with NetEase (9999.HK) end in January. California-based Blizzard said new sales would be suspended in the coming days and players would receive further details. The absence of Blizzard games could cause a 6-8% drop in NetEase's revenue next year, analysts from Daiwa Capital Markets wrote in a research report on Nov. 9. The estimate is founded on the basis that licensed games account for around 10% of NetEase's total revenue and Blizzard accounts for 60-80% of licensed games. "We are looking for alternatives to bring our games back to players in the future," Blizzard President Mike Ybarra said in the statement.

☆ Ex-Tesla Australia director pleads guilty to insider trading
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +1 min

Nov 16 (Reuters) - A former director of Tesla Inc's (TSLA.O) Australian unit pleaded guilty to two counts of insider trading based on a supply deal the carmaker signed with Piedmont Lithium (PLL.O) in 2020, the country's corporate watchdog said on Wednesday. The ASIC said Schlosser then sold his Piedmont shares for a profit of roughly $28,883 once the agreement became public and the stock price rose. Schlosser, who plead guilty at a court in Sydney, also communicated information about the deal to a friend, knowing that his friend would be likely to acquire Piedmont shares, the ASIC said. Tesla and Piedmont Lithium did not immediately respond to a request for comment. Reporting by Tejaswi Marthi in Bengaluru; Editing by Sherry Jacob-Phillips and Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Goldman Sachs expects "significant" decline in U.S. inflation in 2023
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +1 min

Nov 14 (Reuters) - Goldman Sachs said it expects a "significant" decline in U.S. inflation next year due to easing in supply chain constraints, a peak in shelter inflation and slower wage growth. The U.S. lender on Sunday forecast core personal consumption expenditure (PCE) –– the Federal Reserve's preferred measure of inflation –– falling to 2.9% by December 2023 from 5.1% currently. Surging inflation and the Fed's battle to control it has sent Treasury yields and the dollar soaring this year, knocking stocks. The S&P 500 (.SPX) is down around 16% so far this year, on track for its worst year since a financial crisis of 2008. Reporting by Subhadeep Chakravarty; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ India's smartphone shipments drop 10% in Q3 as prices hit record -IDC
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Nov 14 (Reuters) - India's smartphone market fell by 10% year-on-year last quarter to 43.5 million units, marking the lowest third-quarter shipment since 2019, and a high inventory pile-up is expected to lead to a muted fourth quarter, market research firm IDC said on Monday. Despite the festival season beginning earlier than usual, the unrelenting rise in prices pulled down shipments in the world's second-biggest smartphone market, IDC said. The average selling price jumped 15% year-over-year, and 6% from the previous quarter, to a record $226, IDC said. Moreover, the inventory pile-up and post-festive tapering in demand will lead to a muted fourth quarter, said Navkendar Singh, associate vice president, devices research, IDC. IDC expects 2022 shipments of around 150 million units, a decline of 8-9% over the previous year, and Singh does not expect 2023 to be any better.

☆ Germany's BioNTech says to set up mRNA vaccine facility in Singapore
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +1 min

[1/2] Test tubes are seen in front of a displayed Biontech logo in this illustration taken, May 21, 2021. REUTERS/Dado Ruvic/IllustrationNov 14 (Reuters) - BioNTech SE (22UAy.DE), the German biotech that developed a widely used COVID-19 vaccine with Pfizer Inc (PFE.N), acquired a manufacturing facility in Singapore, its first in Asia, the company said on Monday. The facility, bought from a Novartis (NOVN.S) unit, will be its first messenger ribonucleic acid, or mRNA, facility in Singapore and support its vaccines production for the Asia Pacific region, BioNTech said in a statement, without disclosing financial details. The aim is to eventually expand production to other drug classes such as cell therapies, said BioNTech, which also plans to set up research and manufacturing centres in Australia. The Singapore facility is expected to be fully operational by 2023 and create more than 100 jobs by 2024.

☆ INDIA RUPEE Rupee seen surging above 81/USD on rising bets of Fed pivot
▼ + stars: | 2022-11-11 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Nov 11 (Reuters) - The Indian rupee is expected to jump against the dollar on Friday, after softer-than-expected U.S. inflation prompted bets that the Federal Reserve will pivot to a slower pace of rate hikes. The dollar index and Treasury yields plunged, while U.S. equities soared on signs that inflation was turning a corner. read moreThe relief on the inflation reinforced the likelihood that the Fed will opt for smaller rate hikes from its December meeting onwards. Fed Chair Jerome Powell had signalled after the November policy decision that a moderation in the size of hikes was possible. The dollar index dropped 2%, its biggest decline in many years.

☆ Musk's first email to Twitter staff ends remote work -Bloomberg
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: 1 min

Nov 10 (Reuters) - Twitter-owner Elon Musk said in an email to employees that remote work would no longer be allowed and that they would be expected to be in office for at least 40 hours per week, Bloomberg News reported on Thursday. Musk also told employees that he wants to see subscriptions account for half of Twitter's revenue, the report added. Reporting by Urvi Dugar in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Indian bank stocks' record rally to continue as balance sheets strengthen
▼ + stars: | 2022-11-10 | by ( Nupur Anand | ) www.reuters.com time to read: +3 min

[1/2] A man checks his mobile phones in front of State Bank of India (SBI) branch in Kolkata, India, February 9, 2018. This comes at a time when credit growth is at a multi-year high and bad loans across lenders have reduced significantly. The brokerage said private and state-owned lenders that remained better placed to grow include ICICI Bank Ltd (ICBK.NS), HDFC Bank Ltd (HDBK.NS), Axis Bank Ltd (AXBK.NS), IndusInd Bank Ltd (INBK.NS), Bank of Baroda Ltd (BOB.NS) and State Bank of India (SBI) (SBI.NS). Credit growth is at a multi-year high, with an uptick both in retail and corporate loans. "One key concern going ahead remains how the rising interest rate scenario will impact credit growth."

The market can accept gridlock," said Quincy Krosby, chief global strategist at LPL Financial in Charlotte, North Carolina. S&P 500 has risen in every 12-month period following the U.S. midterm elections over the past 70 yearsAt 6:21 a.m. ET, Dow e-minis were down 67 points, or 0.2%, S&P 500 e-minis were down 2 points, or 0.05%, and Nasdaq 100 e-minis were up 8.5 points, or 0.08%. Meanwhile, some market participants expect October U.S. inflation data due on Thursday to be more market-moving. read moreReporting by Medha Singh and Bansari Mayur Kamdar in Bengaluru; Editing by Savio D'Souza and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ India's Tata Motors to delist American Depositary Shares from January
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Nov 9 (Reuters) - Indian automaker Tata Motors (TAMO.NS) said on Wednesday it plans to delist its American Depositary Shares (ADS) from January, roughly around 18 years since they first started trading. Tata Motors's stock remains listed on the BSE and the National Stock Exchange of India. ADSs are U.S. dollar-denominated shares of a non-U.S.-based company that trade on U.S. stock exchanges. Tata Motors' ADSs were first issued in 2004. Reporting by Chris Thomas in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Summary Futures up: Dow 0.02%, S&P 0.15%, Nasdaq 0.41%Nov 9 (Reuters) - U.S. stock index futures inched higher on Wednesday as results from midterm elections rolled in, with investors bracing for a political gridlock in Washington that would make it harder for drastic policy changes to come through. "You're in a slightly different situation and it does look like the Biden Presidency has not been dealt a massive blow by these midterm elections, so the markets are in a wait-and-see mode." The S&P 500 has posted a gain in each 12-month period after the midterm vote since World War Two, according to Deutsche Bank. S&P 500 has risen in every 12-month period following the U.S. midterm elections over the past 70 yearsAt 3:07 a.m. ET, Dow e-minis were up 7 points, or 0.02%, S&P 500 e-minis were up 5 points or 0.13%, and Nasdaq 100 e-minis were up 45.75 points, or 0.41%.

☆ Singapore's GIC, partner to buy Canadian REIT Summit for $3.3 bln
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

Nov 7 (Reuters) - Singapore's sovereign wealth fund GIC and Canada's Dream Industrial REIT (DIR_u.TO) will buy Canada's Summit Industrial Income REIT (SMU_u.TO) for about C$4.46 billion ($3.30 billion), excluding debt, the companies said in separate statements on Monday. GIC and Dream Industrial REIT (DIR) will form a joint venture for the deal, with GIC owning 90% and DIR owning the rest, according to the statements. The deal builds on GIC's recent real estate purchases globally and gives it access to the Canadian industrial space. In September, GIC, along with another private equity firm, bought U.S. commercial REIT Store Capital Corp (STOR.N) for about $14 billion. Including debt, the deal is valued at C$5.9 billion, Summit said.

☆ Apple adds Pegatron as new iPhone 14 supplier in India - Bloomberg News
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +2 min

[1/2] The iPhone 14, iPhone 14 Pro and iPhone 14 Pro Max are displayed at the Apple Fifth Avenue store, in Manhattan, New York City U.S. September 16, 2022. REUTERS/Andrew KellyNov 4 (Reuters) - Apple Inc's (AAPL.O) Taiwanese contract manufacturer Pegatron Corp (4938.TW) has begun assembling the new iPhone 14 in India, Bloomberg News reported on Friday, citing people familiar with the matter. read moreMeanwhile, Foxxconn (2317.TW), formally Hon Hai Precision Industry Co Ltd, began production of iPhone 14 in India in September, making Pegatron the second producer of the model in India, Bloomberg report added. All of Apple's biggest Taiwanese suppliers, Foxconn, Pegatron and Wistron Corp (3231.TW) , have ramped up iPhone assembly in India, boosted by Prime Minister Narendra Modi's financial incentives program, Bloomberg said. Pegatron declined to comment, whereas a spokesperson for Apple did not immediately respond to a Reuters query.

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