Britain's top recruiters have alerted the Bank of England that demand for permanent staff has dropped at the second fastest rate since the pandemic. Ahead of the central bank's interest rate decision next week, a jobs snapshot showed economic uncertainty and hesitancy to commit to hiring weighed down activity in November. While availability of candidates rose at the quickest pace since 2020, permanent appointments fell sharply. With inflation still stubbornly high, the bank is expected to keep rates unchanged at 5.25%. But the latest data showed few signs of the labour market fuelling further price pressures. Governor Andrew Bailey is monitoring for evidence of inflation persistence after pausing a round of 14 consecutive interest rate increases in September.

Seattle-based Starbucks Corporation grapples with a staggering $11 billion loss, erasing 9.4% of its total value, as global boycotts intensify due to perceived boycott call over alleged Israel Association. The decline, spanning 19 days post-November 16 Red Cup Day, sees shares plummet by 8.96%, marking the longest 12-session stock downturn since 1992. Boycott roots run deep, ignited by a Starbucks Workers United tweet expressing solidarity with Palestinians. CEO Laxman Narasimhan remains optimistic in the face of challenges, denying wrongdoing amidst a company-wide commitment to brand integrity. The global boycott trend extends to Egypt, where Starbucks reportedly laid off workers due to financial strain, navigating a complex landscape of geopolitical tensions and economic repercussions.

Byju Raveendran, the founder of cash-crunched edtech giant Byju's, pledged his own home and properties of family members as collateral to raise $12 million, which was paid out as salaries to 15,000 employees on Monday. Two homes owned by the former billionaire's family in Bengaluru and his under-construction villa in Epsilon - a plush gated community in the city - were offered as collateral to borrow the $12 million. Raveendran, who also infused proceeds from his past share sales into Byju's, has reportedly raised $400 million in personal debts by mortgaging all his stock in the parent firm. The former billionaire has pulled out the stops to ease financial pressures as Byju's battles creditors amid attempts to sell assets. 

India's financial landscape witnessed a historic moment as the Sensex and Nifty soared to unprecedented heights, crossing the 69,000-point milestone. The remarkable surge followed the BJP's triumphant victories in key state assembly elections. Just a day after the poll results, markets experienced a surge, reflecting investor confidence. NSE Nifty climbed 0.52% to 20,794.50 points, and the Sensex rose 0.50% to an impressive 69,204.10. Banking stocks contributed significantly, gaining 0.7%, with public sector banks showing a notable 1.3% increase. Analysts predict continued momentum, aligning with expectations for a pre-2024 election rally.

Indian equity markets rallied to record highs on Monday, with benchmark Sensex surging over 1,000 points and Nifty climbing more than 300 points in early trade. The surge comes a day after the BJP emerged victorious in state election results, retaining power in Madhya Pradesh and wresting control of Rajasthan and Chhattisgarh from Congress. However, Congress defeated KCR's BRS to flip Telangana. The strong electoral showing for PM Modi's BJP has sparked a rally in equities, underscoring optimism in its pro-growth policy agenda which cheered investors. Markets are seeing additional gains building on an already positive momentum.

Indian refiners, including Reliance, have restarted purchasing Venezuelan oil through intermediaries, with Reliance planning talks with PDVSA executives for potential direct sales. Following the temporary lifting of U.S. sanctions on Venezuelan oil exports, three Indian refiners secured 4 million barrels for February delivery at $7.50 to $8 below dated Brent. Venezuela aims for 1 million bpd production, but challenges persist. Reliance, once a major PDVSA customer, seeks discussions on crude sales to India and fuel imports for Venezuela. While no cargoes have reached India, vessels are expected to depart in December, according to tracking data. [ Representative Image ]

Adani Group, reeling from Hindenburg Research's market accusations, announces a robust $84 billion investment initiative. CFO Jugeshinder Singh reveals the ambitious decade-long plan to bolster infrastructure, aiming to eclipse the conglomerate's recent market value losses. The move follows Hindenburg's January claims of stock manipulation, countered vehemently by Adani. Singh hints at further details to come, emphasizing the group's commitment to expansion. Recent rallies in Adani Group stocks align with positive developments, including India's Supreme Court progress and $500 million US financial aid for a Sri Lankan project. Adani's strategic rebound aims to dispel doubts, signaling confidence in a brighter future.

The NSE Nifty 50 index surged to a new record high, reaching 20,238.45, a 0.52% increase, while the S&P BSE Sensex rose 0.44% to 67,286.16, driven by faster-than-expected economic growth in India's September-quarter, expanding at 7.6%. Analysts, including Pramod Gubbi from Marcellus Investment Management, cite positive growth outlook, government capex initiatives, and the perception of the US interest rate cycle peaking as contributing factors. November marked the best month for Nifty and Sensex in 2023, propelled by foreign portfolio investor inflows. Analysts anticipate a potential market rally with a decisive BJP win in state elections, reinforcing 2024 prospects.

India's Q2 GDP for 2023 impresses with a robust growth rate of 7.6%, surpassing forecasts of 6.8%. The unexpected surge is attributed to significant expansions in the manufacturing and construction sectors. Manufacturing's gross value added (GVA) spikes to 13.9%, up from 4.7% in the previous quarter, while construction sees a rise to 13.3% from 7.9%. The resilient performance follows Q1's 7.8% expansion, reflecting the nation's economic strength. The Reserve Bank of India's (RBI) conservative estimate of 6.5% is surpassed, indicating a positive trajectory for India's economy in the July-September period.

Shares of Tata Technologies made a stellar stock market debut on Tuesday, surging as much as 180% over the IPO price to Rs 1,400 per share. The IPO was fully subscribed within 36 minutes and saw overall bidding of 69 times led by huge institutional interest. The strong listing gains underline robust demand for the first Tata Group IPO since TCS in 2004. Tata Motors-promoted Tata Technologies provides engineering services to auto firms and is seen benefiting from the industry's electric and autonomous transition. It raised Rs 791 crore from anchor investors including marquee foreign and domestic institutions ahead of the IPO. The blockbuster opening represents the best IPO listing in 2022 so far.