WORLD
China orders firms to stop buying Nvidia AI chip: Report
Such a move would mark an escalation of Beijing’s campaign against the use of Nvidia’s accelerators, essential to AI development but largely banned from the world’s largest semiconductor arena
BUSINESS
EU unveils push for closer India defense, trade ties
Brussels reiterated its aim to conclude a free-trade agreement with India this year. The two sides are “exploring the creation of an EU-India Security and Defence Partnership,” the statement said.
BUSINESS
Nestlé chairman Paul Bulcke to step down early after CEO’s ouster
As chairman, Bulcke presided over unprecedented management turmoil for a company that had only three CEOs between 1981 and 2016
COMPANIES
India bulk drug makers start preparing for Ozempic patent expiry
Drugmakers in India — the world’s largest supplier of non-patented medicines — aim to tap what could be a $94 billion global opportunity by 2035
BUSINESS
UK inflation holds at highest rate since start of 2024
Services inflation slowed to 4.7%, still above levels the BOE is comfortable with
BUSINESS
Prosus doubles stake in Urban Company ahead of bumper listing
The Amsterdam-based technology group now owns 7.35% of Urban after adding about 4% in the latest deal
BUSINESS
Former BLS chief recounts shock of getting fired over US jobs data
Trump has since picked EJ Antoni, chief economist at the Heritage Foundation, to step into the role
BUSINESS
US Fed rate cut to mark pivot toward job market
The policy pivot will take place amid unrelenting pressure from President Donald Trump, who has pushed for a “big cut” this week
WORLD
TikTok buyers to include Oracle, Silver Lake and Andreessen
Under the deal, ByteDance Ltd.’s stake in TikTok would be reduced to below 20% to satisfy a US national security law passed in 2024
BUSINESS
Europe’s top business lobby in China urges an end to price wars
While the nation’s consumption is growing, a key issue ‘is that manufacturing output has grown faster,’ the European Union Chamber of Commerce in China wrote in an annual position paper
BUSINESS
Gold holds near record as dollar sinks before Fed rate decision
Gold has rallied more than 40% this year on geopolitical uncertainties, concerns about potential negative impacts of US tariffs on the global economy, as well as buying from central banks — especially those from emerging markets.
BUSINESS
Asian stocks slip as investors await US Fed's decision
Shares in Japan and South Korea retreated while the MSCI Asia Pacific Index edged 0.2% lower after nine consecutive days of gains
BUSINESS
OpenAI hires xAI’s former CFO after abrupt exit from Musk’s firm
The move is likely to stoke tensions between OpenAI chief Sam Altman and Musk, one of the tech industry’s highest-profile feuds.
BUSINESS
Euro heads for four-year high as traders prepare for Fed cuts
The prospect of three full 25 basis-point Fed rate reductions by year-end, combined with expectations that the ECB won’t cut further, is set to narrow the gap between the two central banks’ key rates.
BUSINESS
Tesla faces probe by US auto safety agency over door handles
The move comes days after a Bloomberg investigation uncovered a series of incidents in which people were injured or died after being unable to open doors when the power is lost, particularly after crashes.
BUSINESS
Indian commodity bourse valuation doubles as global firms buy in
Shares of NCDEX, India’s main bourse for trading agricultural products, are changing hands for as much as 485 rupees apiece in the unregulated market
BUSINESS
World must spend $540 billion a year looking for oil and gas, IEA says
The outlook means that companies will need to tap reserves that haven’t yet been discovered, unless demand shifts away from fossil fuels
BUSINESS
UK jobs data boost economist calls that BOE rate cuts are done
Economists surveyed by Bloomberg unanimously expect the Monetary Policy Committee to leave rates on hold on Thursday
BUSINESS
Smartphone maker Nothing raises $200 million to build AI Devices
The Series C financing round was led by Tiger Global, with support from existing backers GV, Highland Europe, EQT, Latitude, I2BF and Tapestry
BUSINESS
Unilever appoints acting CFO Srinivas Phatak in role permanently
Srinivas Phatak had been serving as acting CFO at the Anglo-Dutch consumer goods company since March
INDIA
India mulls allowing bespoke pensions in $175 billion industry
PFRDA has held several rounds of discussions with fund managers on the potential change, which is aimed at boosting the growth of the pension industry in India
INDIA
India eyeing Bangladesh’s top spot with perks for recycling dying ships
The government will spread these monetary benefits over ten years starting 2026 and the cabinet of federal ministers is likely to approve the proposal by the end of September
BUSINESS
JPMorgan to cut China, India share in flagship EM bond index
The limit will fall to 9% from 10% currently, with the implementation to be phased over a period of several months.
WORLD
US tariff of 15% on Japan auto exports to kick in Tuesday
President Donald Trump signed an executive order to implement the deal earlier this month, setting a maximum 15% tariff on most of Japan’s products, including automobiles
