WORLD
Bessent battles Trump demands, market jitters in Fed chair hunt
Bessent has intentionally taken a more hands-off approach, compiling a list of nearly a dozen candidates, but is not expected to push any one candidate
BUSINESS
Fed rate cut would relieve Asia as It grapples with tariffs, says ADB
The Federal Reserve is widely expected to ease monetary policy for the first time in 2025 after data showed US jobs growth cooled notably in August and unemployment climbed to the highest since 2021.
BUSINESS
Trafigura says Indian oil demand growth set to outpace China
While growth in the South Asian nation is being driven by urbanization and rising incomes, China is facing slowing crude consumption growth aside from in petrochemicals.
MARKETS
PAG’s Nuvama stake sale said to slow down on Jane Street case
PAG may also explore other options for its 54% holding in Nuvama, including a placement or a continuation fund
WORLD
EU weighs new sanctions on Russia to hit banks and oil trade
The package, which would be the bloc’s 19th since Moscow’s full-scale invasion in 2022, could also see the EU target Russia’s payment and credit card systems, crypto exchanges
BUSINESS
Indian oil-demand growth set to outpace China, says report
China and India — the region’s leading crude importers — are key drivers of demand growth
BUSINESS
Indian state-owned refiners seek to restore Russian oil flow
The refiners in the South Asian nation are getting fewer offers for October-loading Russian cargoes
BUSINESS
Trump’s tariffs could shave 0.5% off GDP, India adviser says
“I hope the additional penal tariff is a short-lived phenomenon,” Nageswaran told Bloomberg TV’s Haslinda Amin in an interview on Monday.
WORLD
London’s commuters face travel chaos as tube strike hits hard
All fleet staff as well as engineering, station and train workers walk out on Monday, causing chaos for the UK capital’s commuters
BUSINESS
South Korean companies reel from fallout of Hyundai plant raid
Investors will get their first snapshot of relations early this week, with Foreign Minister Cho Hyun is expected to depart for Washington on Monday to secure the release of 300 South Korean citizens swept up in the raid
BUSINESS
China’s export growth slows to six-month low as US orders plunge
Sales abroad rose 4.4% in August from a year earlier to $322 billion, according to a statement from the General Administration of Customs on Monday
BUSINESS
Billionaires who amassed gold fortunes in Dubai face slowdown
The UAE had the highest gold demand per capita in the world at 4.4 grams last year, according to the World Gold Council
BUSINESS
Gold steadies near record high after bets on Fed rate cuts surge
Bullion was less than $10 short of its latest peak near $3,600 an ounce in early Asian trading, after rallying as much as 1.5% late Friday.
BUSINESS
Trump family adds $1.3 billion of crypto wealth in span of weeks
The haul from crypto firm World Liberty Financial and separate mining operation American Bitcoin Corp. shows how still-nascent projects are already translating into tangible wealth for the first family
WORLD
Bessent says more tariffs on nations buying Russian crude will force Putin to table
Russia is already under crippling sanctions from both the US and Europe, but has found customers for Russian oil and gas in India and elsewhere
AUTOMOBILE
BMW, Mercedes vie with BYD-led China rivals at Munich show
The stakes are high. German automakers are grappling with US tariffs, muted sales in Europe and eroding market share in China
MARKETS
Modi-Xi handshake, GST cuts boost case for lagging Indian stocks
Improving trade links with the world’s second-biggest economy add to a string of positives for India, including the prospect of further central bank interest-rate cuts
BUSINESS
Trump exempts gold, tungsten and uranium from global tariffs
Trump’s directive could also speed implementation of bespoke trade deals between the US and other countries, making it easier for Washington to lift tariffs on aircraft parts, generic pharmaceuticals and certain products that can’t be grown, mined or naturally produced domestically — such as specialty spices and coffee, as well as obscure metals.
ARTIFICIAL-INTELLIGENCE
OpenAI says spending to rise to $115 billion through 2029: Information
The company predicted it could spend more than $8 billion this year, roughly $1.5 billion more than an earlier projection, The Information said.
BUSINESS
Tesla offers unprecedented $1 trillion pay package to Elon Musk
The plan dangles a financial windfall and expanded control of the company to Musk, already the world’s richest person, after his 2018 package valued in excess of $50 billion was struck down by a Delaware court
BUSINESS
Asian shares join global rally before US jobs data
The Nikkei-225 index rose by more than 1% after President Donald Trump signed an executive order implementing his trade agreement with Japan.
MARKETS
US stocks and bonds climb before make-or-break jobs report
The latest readings on hiring and unemployment claims came on the eve of what economists expect to mark the weakest stretch of US job growth since the pandemic
WORLD
Armani’s death puts fate of luxury empire in hands of heirs
The Italian patriarch, whose death at age 91 was announced on Thursday, entrusted the future of Giorgio Armani SpA to close family members and associates
MARKETS
Jane Street blindsides SEBI in fight over India trades
While that was always within Jane Street’s rights, the timing caught the Securities and Exchange Board of India off guard
