Australia Financial

Indian PM Narendra Modi says the world is undergoing a "big transformation" where new technology has the power to create opportunities for millions of people.

Australian data center operator Firmus is considering private funding and a potential US listing after its highly anticipated Sydney IPO collapsed. The setback has raised questions about investor appetite for AI infrastructure assets and the valuations attached to them. Tamim Asset Management's Head of Australian Equities Ron Shamgar joins "Bloomberg: The Asia Trade" to discuss what went wrong and why he says Firmus got too greedy.

Blackstone President and COO Jonathan Gray says fiscal challenges in Western economies will mean governments will have to make "tough choices".

Here's a glimpse of what's dragging tech and chipmaker stocks down from the US to Asia.

Speaking in New Delhi at Bloomberg's New Economy Forum, former UK Prime Minister Rishi Sunak, Blackstone President and COO Jonathan Gray, and Tata Sons Chairman Natarajan Chandrasekaran discuss how AI adoption will fundamentally reshape both financial movements and geopolitical realities. (Corrects title of Gray.)

Delorean Corporation (ASX:DEL) has entered into a non-binding agreement with Westpac Banking Corporation (ASX:WBC) for $20 million in project financing.

Fidante Partners, a subsidiary of Challenger (ASX:CGF), has been hit with a 21-day interim stop order from the ASIC over concerns regarding the target market for its credit fund.

The International Monetary Fund said global growth should pick up next year with a boost from AI investment, but warned the world economy is nearing the limits of its resilience as the energy squeeze persists and financial risks build.

The Reserve Bank of Australia warned in its September monetary policy meeting minutes that additional cash rate increases remain possible as inflation risks persist.

April LaRusse, co-head of global client portfolio management at BNY Investments, says it is too early to confidently call a peak in Treasury yields. Speaking on "The Asia Trade," LaRusse says current market pricing for roughly three rate hikes looks excessive, leaving room for a relief rally if the Middle East conflict eases or labor market data weakens.

Japan's producer price index rose 6.8% from a year earlier in September versus the median forecast of +7.6%, Bank of Japan data showed. Haidi Stroud-Watts reports on "The Asia Trade."

Meta Platforms released a new artificial intelligence model called Muse Wonder, which the company claims is a big leap over its predecessors. Riley Griffin has more on "The Asia Trade."