Happy morning, Munchers! 🙏

Spooky szn is upon us. Happy Halloween to those of you that celebrate it. If you've got any candy left over, hit me up. 🤷

And as always, here is your daily dose of the news that matters, from Wall Street to Dalal Street - in 4 minutes and 53 seconds.

That's less time than it takes for Russia to spike global grain prices, iPhone factories to bleed workers, and India to start manufacturing billion-dollar planes. 🔥

Let’s dive in.

What’s hot, what’s not?

Story Roundup

1 - Russia rips up grain deal and spikes wheat prices. 🌾

A few months back, Russia decided to stop bombing Ukrainian grain ships. 

This helped a LOT of people around the world - since Ukraine produces about 10-15% of global grains (wheat, corn, barley). If there's more of these grains floating around, prices are cheaper. 

That means lesser problems for people that rely on grains as their main diet - primarily people in lower income countries. 

They just went back on their word. 

Russia pulled the plug on their grain ceasefire, and the rest of the world is pretty mad. 

No winners in a war like this. 😔

2 - Workers flee iPhone factories over COVID concerns. 🦠

China's aggressive COVID policies are now hurting it's crown jewels. 

Workers in the world's largest iPhone factory have staged a mass departure as COVID outbreaks are hobbling supply chains. 

The situation in there is pretty dire. 

Food and medical supplies are running low, and workers are being locked up in rooms as part of quarantine. 

Thousands of people decided they had enough - and they literally escaped the place. 

Centralisation. 💀

3 - India splashes big money on an aircraft plant. ✈️

India's on a rocket ship of it's own.

Prime Minister Modi just laid the foundation stone for a $2.7 billion aircraft manufacturing plant - under the veil of "Make in India, make for the World". 

They'll be making 40 C-295 aircrafts - which basically just transport a lot of heavy stuff. 

Defence, aerospace and heavy manufacturing are segments in which most Indian businesses have historically lagged. And the current government wants to change that. 

The real growth engine seems to be the billions that are being doled out to businesses to create change of this scale. 

Time will tell how this bet pays off. 📈

4 - King Dollar is set to make $10bn of profits evaporate. 💸

The Dollar is very, very strong.

It's so strong that it's hurting itself. 

The US Fed's been super aggressive when compared with central banks around the globe - so it's natural that tons of investors have sought shelter in their currency. 

And it's paid off well - the Dollar Index is up almost 16% this year. 

This has been eating into company earnings everywhere - since a strong dollar reduces the value of sales made in foreign countries. And that happens because you need to convert foreign currency back to USD. 

US companies are set to lose almost $10 billion due to a strong dollar. 

That's a hefty price tag. 😬

5 - German unions seek highest pay rises in a decade. 📈

Germany's energy workers shut the lights off and walked out for several hours over a pay dispute. 

Around 3.9 million employees are demanding a 10.5% wage hike - which sums up to a pretty big figure. 

This demand for pay increases is the highest since 2008, and it's all because of one culprit. 

Inflation. Who would have thought. 

Employees across steel, automotive, and industrial businesses have warned of more strikes to come if German employers don't comply.

The situation seems to be on a knife's edge. 💀

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Hope you enjoyed this issue of the Market Munch. If you've got any feedback - good or bad (😏) you can hit reply to this email. Thanks a ton for reading!

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Cheers, and have a lovely day. 🙏

Aryaansh