November, 2022

• 19 November

  SpaceX in funding talks that would value it at $150bn

  

    Bloomberg Elon Musk’s SpaceX is in talks to raise a funding round that values the rocket-launch and satellite company at more than $150 billion. The transaction being discussed represents a jump from the $125 billion valuation the company commanded earlier this year. Terms including the price haven’t been finalised and could still change. Shares are being discussed at roughly ...

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• 19 November

  Fairfax weighing Bangalore airport IPO at $3.7bn value

  

    Bloomberg Fairfax India Holdings Ltd. is considering an initial public offering for Bangalore International Airport Ltd. (Bial) that could value the asset at about 300 billion rupees ($3.7 billion), according to people familiar with the matter. The Indian arm of Canadian investment group Fairfax Financial Holdings Ltd. is working with an adviser on the potential listing that could take place ...

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• 19 November

  Amazon staff fear ‘no one is safe’ as layoffs roil the ranks

  

    Bloomberg “No one is safe.” So wrote an Amazon.com Inc. employee on an internal chat room as the company began the largest round of layoffs in its history. The mood, especially in the hard-hit devices team, reflected the shock and dismay of people more accustomed to growing budgets and moonshots than talk of recession and austerity. Devices chief Dave ...

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• 19 November

  Swiss watch exports growth slows

    Bloomberg Swiss watch exports grew at a slower pace in October as shipments to China declined, suggesting a slight moderation in demand for high-end timepieces. Shipments rise 6.7% to $2.4 billion last month, the Federation of the Swiss Watch Industry said. Exports are up 12% in the first ten months of the year, on track for a record. Demand ...

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• 19 November

  Masayoshi Son owes $4.7b to SoftBank after tech rout

  

  Bloomberg Masayoshi Son is now personally on the hook for about $4.7 billion on side deals he set up at SoftBank Group Corp. to boost his compensation, after mounting losses in the company’s tech portfolio wiped out the value of his interest in the second Vision Fund. Over the years, the Japanese billionaire’s controversial personal stakes in SoftBank’s investments drew ...

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• 19 November

  Indonesia’s internet firm GoTo to cut 1,300 jobs

  

    Bloomberg Indonesia’s largest internet company GoTo Group will cut 1,300 jobs as it seeks to curtail expenses and assuage investor concerns over mounting losses. The cuts amount to about 12% of the workforce, the company said in a statement Friday. The ride-hailing, e-commerce and fintech company will begin notifying affected employees right away. GoTo joins tech giants from Apple ...

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• 19 November

  India to ease data storage rules in relief for Google, Facebook

  

    Bloomberg India plans to allow transfer and storing personal data in some countries overseas, in a reprieve for global companies including Alphabet Inc.’s Google, Amazon.com Inc. and Meta Platforms Inc.’s Facebook. The government will “notify such countries or territories outside India to which a data fiduciary may transfer personal data,” according to the draft Digital Personal Data Protection Bill ...

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• 19 November

  Hong Kong growth forecasts slashed

    Bloomberg Hong Kong’s economy will grow next year at a slower pace than previously expected, according to economists, as the city struggles to dig itself out of what’s likely to be a deep contraction in 2022. Gross domestic product is projected to grow 2.7% in 2023 from this year, according to the median forecast in a the latest Bloomberg ...

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• 19 November

  China developers finally get liquidity but where’s the demand

  

    Bloomberg The long-awaited policy rescue for Chinese developers finally landed this month to ease a severe liquidity crunch. The hurdle of collapsing home demand may prove just as steep a challenge. Assets linked to the nation’s fragile real-estate sector have rallied over the past two weeks after regulators introduced directives that addressed everything from companies’ liquidity problems to the ...

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• 19 November

  North Korea fires suspected ICBM after warning US on exercises

  

  Bloomberg North Korea test-fired a suspected intercontinental ballistic missile with an estimated range long enough to carry a warhead to the American mainland, prompting the US to condemn what it said was an unlawful action. The North Korean missile was launched Friday, a day after Pyongyang warned the US to halt allied military drills in the region or face retribution. ...

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