Bloomberg India’s $50 billion fintech industry will face hurdles in the form of tougher regulatory scrutiny and tighter liquidity leading to higher cost of capital for some companies next year, Rakesh Pozhath, partner at consulting firm Bain & Company, said. Investors into the country’s fintech space that has drawn heavyweights from Warren Buffett’s Berkshire Hathaway Inc to Masayoshi Son’s …

  Bloomberg Sweden’s household lending grew last month at the slowest pace on record, as rates rise and home prices plunge. In November, lending to households grew by 4.1%, which is the lowest annual increase since Statistics Sweden began collecting the data in 2006. Mortgages accounted for 82% of all new loans, the office said in a statement. New lending …

  Bloomberg Customers of failed cryptocurrency exchange FTX sued in bankruptcy court in hopes of being first in line to recover some of the billions lost in the meltdown of Sam Bankman-Fried’s digital-asset empire. A group of four FTX customers asked a bankruptcy judge to rule their holdings in the Bahamas-based exchange belong to them, rather than FTX. They want …

  Bloomberg Stocks in Europe struggled for direction along with US equity futures as news of further moves by China to reopen its economy failed to lift investor sentiment in the final week of a dismal year for markets. The Stoxx Europe 600 index erased an early advance, with carmakers and technology stocks leading declines. Basic-resources stocks rose as prices …

Bloomberg Foreigners bought the least amount of Chinese domestic shares this year after a selloff in the world’s second-largest stock market amid stringent Covid-19 restrictions and a housing slump. Overseas investors have purchased a net 87 billion yuan ($12.5 billion) of stocks in Shanghai and Shenzhen so far this year through trading links with Hong Kong. That’s about a fifth …

  Bloomberg Oil climbed as China took more steps to unwind its Covid Zero policy and freezing weather across the US prompted refinery closures in the vital Texas Gulf Coast area. West Texas Intermediate traded near $80 a barrel after Beijing announced it will no longer subject inbound travellers to quarantine from early January, the latest step in the dismantling …

  Bloomberg Southwest Airlines expects the flight chaos caused by the massive winter storm that battered the US to continue for at least another few days as the government questioned whether the airline is complying with its customer service plan. “In all likelihood we’ll have another tough day tomorrow as we work our way out of this,” Chief Executive Officer …

Dubai / WAM Dubai International (DXB) will remain exceptionally busy over the remainder of the holiday season and well into the New Year, with nearly 2 million passengers expected to pass through DXB. The operator urged passengers to plan their trips to and through the airport and follow simple travel tips to ensure a smooth airport experience. DXB’s average daily …

Bloomberg Japan’s retail sales unexpectedly fell in November from the previous month for the first drop in five months as pent-up demand started to cool amid rising prices, outweighing a boost from the return of tourists. Spending slipped 1.1% from October with outlays on clothing falling in a milder-than-usual month, according to the economy and trade ministry. Economists had expected …

  Bloomberg Residents of Hong Kong reacted swiftly to news China will no longer subject inbound travellers to quarantine as of early next year, flooding the internet to search for flights to key mainland cities. Outbound searches for flights from Hong Kong to the mainland on Trip.com and Ctrip, the two sub-brands of Trip.com Group Ltd, jumped around 521% on …