BUSINESS
US core CPI rises as expected, keeping fed on track for rate cut
The report suggests inflation continues to linger. President Donald Trump’s global tariffs are impacting prices of some goods, while ongoing increases in services costs may present a more persistent pressure to overall inflation.
BUSINESS
US initial jobless claims jump to highest in almost four years
Meanwhile continuing claims, a proxy for the number of people receiving benefits, were unchanged at 1.94 million in the week ended Aug. 30.
BUSINESS
Apple analyst sentiment hits five-year low after two downgrades
With the downgrades, Apple’s recommendation consensus — a proxy for the ratio of buy, hold, and sell ratings — has dropped to 3.9 out of 5, its lowest since early 2020
MARKETS
Wall Street advances as CPI report buoys trader bets on rate cuts
The S&P 500 Index gained 0.8% at 12:56 p.m. in New York, led by the health care and materials sectors
BUSINESS
India plans to retain market borrowing target after tax cuts
India saw its biggest bond selloff in three years in August after Prime Minister Narendra Modi announced a cut in consumption taxes, a move expected to cost 480 billion rupees in revenue
BUSINESS
Goldman Sachs CEO Solomon says economy softening with tariff chaos hitting growth
Even as US wholesale inflation unexpectedly declined in August, Solomon said that he sees signs of persistently high prices.
BUSINESS
Gold steadies near record as traders gear up for inflation data
Bullion held near $3,642 an ounce, about $32 below the peak set earlier this week
WORLD
UK rejects proposals to block out sun to curb climate change
The announcement comes after a team of more than three dozen polar scientists warned this week that proposals to artificially cool the world’s polar regions are expensive and potentially dangerous
BUSINESS
Asian shares steady as US stocks climb into CPI
Shares in Australia fell while those in Japan swung between gains and losses in early trading.
WORLD
Trump administration offers $10,000 reward for employee ideas to cut costs
The Treasury Department is asking frontline employees to submit proposals to cut or eliminate contracts in their program areas
BUSINESS
Ellison tops Musk as world’s richest man after $101 billion gain
The increase lifted Larry Ellison's total fortune to $393 billion, ahead of Musk who sits at $385 billion
COMPANIES
Deloitte US asks India staff to return to office two days a week
The new rule becomes effective starting October 1 for employees at the firm’s seven offices that help clients or provide back-office support
WORLD
Iran steps back from the brink with UN Atomic Watchdog deal
Whether the agreement between Iranian Foreign Minister Abbas Araghchi and the International Atomic Energy Agency is enough to forestall the re-imposition of punishing UN sanctions will be decided in the next two weeks
WORLD
Elon Musk says SpaceX to fly bigger, fully reusable starship in 2026
The current iteration of Starship, which the company calls Version 2, has capacity of about 35 tons and SpaceX has been able to recover just its booster. Musk has long promised full reusability and much larger payload capacity.
MARKETS
S&P 500 hits record as producer price index surprise sinks yields
The S&P 500 hit all-time highs, with tech leading the way. Oracle Corp. soared 40% on a solid cloud outlook
BUSINESS
BYD’s senior management set to visit India as Modi, Xi reset ties: Report
The Shenzhen-based carmaker already has begun securing visas for senior managers and engineers that will enable the company to restart training programs, service machinery and assess the state of its factory in south India, says report
BUSINESS
Ozempic maker Novo Nordisk to cut 9,000 global jobs, slash profit forecast
Novo said operating profit will grow between 4% and 10% at constant exchange rates. The company had predicted in February that profit could grow as much as 27%
BUSINESS
Asian stocks fluctuate as US jobs outlook cools
In Asia, traders will monitor the potential for joint action by the US and the EU to pressure Russia into Ukraine talks.
WORLD
Trump floats new tariffs on China, India to squeeze Russia
Later Tuesday, Trump wrote a social-media post saying the US and India were continuing negotiations to address their trade barriers.
BUSINESS
Jamie Dimon says US economy is weakening after record BLS revision
The revision 'just confirms what we already thought,' Dimon said
WORLD
Trump calls Epstein letter a ‘dead issue’ in NBC News interview
The Trump administration has faced an uproar over its handling of documents related to Epstein, including pressure from some of the president’s own supporters
WORLD
US payrolls marked down a record 911,000 in preliminary estimate
Traders widely expect central bankers to cut rates at the conclusion of their two-day meeting September 17
MARKETS
US stocks rise as Fed bets intact after jobs markdown
The S&P 500 headed toward all-time highs. Apple Inc. will hold its biggest product launch event of the year, and is set to unveil the iPhone 17
BUSINESS
Jane Street faces off with India market regulator in court
Justice PS Dinesh Kumar, presiding at the Securities Appellate Tribunal, will consider whether to admit Jane Street’s appeal against a July interim order by the Securities and Exchange Board of India, which accused the US trading giant of manipulative practices
