Welcome to another edition of Under60 Daily - a brief rundown of the top happenings in the business world, curated by hand to exclude the clutter and ensure you get up to speed in under a minute.
[Aviation] Air Asia X, the Malaysian low-cost carrier looks to restructure its $15 billion debt to remain a going concern. The company claims that a default in its obligations could eventually lead to liquidation.
[Markets] U.S. indices rose on Wednesday as President Donald Trump tweeted his intent on providing more stimulus checks. The President’s decision on Tuesday to call off stimulus talks with Congress triggered a sell-off among U.S. stocks yesterday.
[Regulation] The UK financial regulator, FCA, has banned the sale of cryptocurrency derivatives to retail investors. The FCA’s decision comes as a move to protect investors from the high volatility and fraud regarding the underlying assets.
Over60: WION News
[IT] India’s largest IT services company, Tata Consultancy Services kicked off the earnings season by reporting a 6.7% sequential growth in net profits for the quarter ended September 2020. The company also announced a $21.8 billion share buyback.
[Regulation] Poland’s antitrust watchdog has fined Russia’s Gazprom $7.6 billion regarding the company’s Nord Stream 2 gas pipeline, which aims to supply gas from Russia to Germany under the Baltic Sea. The project has already faced sanctions from the U.S Government.
Over60: Bloomberg Quint