Happy Friday, Munchers! 🙏

We're on the home stretch. Hope you've got your favorite coffee - let's go.

As always, here is your daily dose of the news that matters, from Wall Street to Dalal Street - in 4 minutes and 57 seconds.

Let’s dive in.

What’s hot, what’s not?

Market Commentary

• US markets surged before the US Fed's field trip - indicating expectations of softer monetary policy. 📈

• Indian stocks slid 0.5%, mainly dragged down by metals, pharma and IT. 🔥

• Hong Kong and Chinese stocks soared as the government announced a 1 trillion yuan stimulus program.

Story Roundup

1 - Ukrainian nuclear gets hit hard by Russian firepower. 🔥

All's fair in love and war - but Ukraine is on tilt after a Russian bomb started a fire at one of their nuclear plants. 

This fire developed quickly, and disconnected them from the country's electrical grid.

It's the first time that something like this has happened - and it got quite a few people scared.

Things seem to be fine now, but Ukraine president said that "if the diesel generators didn't turn back on, we'd already be in the consequences of the radiation accident".

Now that's explosive. 💣

This is the meme that started WW3. Surely.

2 - China goes ham on spending to save their economy. 💸

Trillions of yuan are being pumped into the Chinese economy in a bid to remedy the sicknesses that have plagued one of the biggest markets in the world. 

Yesterday, a $146bn stimulus package was unveiled, with a heavy focus on infrastructure.

Infrastructure spending helps unemployment ease, while helping China become a better urban economy over the longer term.

They'll be firing these billions at everything, from concrete jungles to green cities.

That's a lot of $$$.

3 - Restaurants have hiked delivery prices by ~10% this year. 📈

 Restaurants are charging customers higher prices on apps like Deliveroo and Zomato. 

Delivery apps make their money on a commission - usually 28-30% of the final order.

As they get pressured to increase profitability, restaurants get the short end of the stick. 

All together, delivery costs end up taking 35% of the order, after more discounts are added - putting more pressure on already-strained restaurants. 

Who knew going out's more rewarding. 🤷‍♂️

4 - IDBI Bank is set for a bottom line boost. ⚡

Long-troubled bank IDBI mentioned that they are likely to recoup $2.4b of debt that they originally wrote-off. 

It's a hidden asset and is gonna provide a direct boost to their bottom line. 

The last few years were ruthless to them, as they had the highest bad-loan ratio just 4 years back. 

IDBI returned back to profitability after management clamped down on souring debt, bringing down funding costs, and tightening their underwriting process.

Comeback kid's got a long road to walk? 🚀

5 - World's biggest password manager got hacked. 💀

If you use LastPass to manage your passwords, you might want to listen up.

In a blog post, they said that a hacker stole some "source code and proprietary information". 

LastPass is trusted by almost 33 million people globally - so an attack of this magnitude could compromise your Netflix account, Amazon Prime, and Deliveroo orders.

More info here - and turn your 2FA on. 😉

Hope you enjoyed this issue of the Market Munch. If you have any feedback, positive or negative, hit my line at [email protected] or +971 50 708 8469. 

You might also wanna follow up on Twitter, LinkedIn, or Instagram. 

Cheers. 

- A