BUSINESS
China to stop claiming special WTO benefits that rankled US
The gesture is significant at a time when higher US tariffs are forcing China to divert ever more of its exports to rising economic powers from Latin America to Africa and Southeast Asia, a push that’s starting to meet resistance around the world
BUSINESS
Bain-Backed Dhoot Transmission appoints banks for $250 million IPO
Bain has a 49% stake in Dhoot after investing in the firm in January
BUSINESS
Pakistan’s Punjab sees rice loss as floods damage crops
Rice yields in the region, which saw the worst flooding in more than three decades, are likely to drop by more than 9% this year, according to a report by Pakistan’s government and the Rice Exporters Association of Pakistan
BUSINESS
India’s largest power producer NTPC considers bulk purchase of nuclear reactors
The state-run company aims to buy large units ranging from 700 megawatts to about 1,730 megawatts each, but hasn’t yet finalized the size of the tender
CRYPTOCURRENCY
Crypto giant Tether seeks funding at $500 billion valuation
The El Salvador-based company is seeking between $15 billion and $20 billion in exchange for a roughly 3% stake through a private placement
BUSINESS
Zijin Gold delays $3.2 billion IPO as typhoon pummels Hong Kong
The company pushed back the listing, set to be the world’s second largest this year, by a day to Sept. 30, it said Wednesday, citing bad weather.
BUSINESS
New Zealand names first woman as governor in central bank’s 90-year history
Anna Breman, who is currently First Deputy Governor of Sweden’s Riksbank, will start a five-year term on Dec. 1, Finance Minister Nicola Willis said Wednesday in Wellington
BUSINESS
Sri Lanka holds rates as growth quickens, tariff risks loom
The Central Bank of Sri Lanka maintained its overnight policy rate at 7.75%
WORLD
Trump’s amped up second term on full display in fiery UN speech
The speech was emblematic of a president whose second-term policies and pronouncements have been bigger and more aggressive — and far more disruptive to the global economic order — than those he advanced his first four years in the White House.
BUSINESS
Gold holds near record as traders weigh Fed, Russian tensions
Bullion was steady near $3,761 an ounce, about $30 shy of Tuesday’s peak, which was the third consecutive trading day it’s set a fresh high.
BUSINESS
Asian stocks edge lower after mixed Fed signals
The MSCI Asia Pacific Index fell 0.2% at the open with declines in Japan, which returned after a holiday, Australia and South Korea.
WORLD
Dimon says Trump’s new H-1B visa fee ‘caught everyone off guard’
Late last week, Trump signed a proclamation slapping a $100,000 fee on new H-1B petitions as a condition of entry to the US
WORLD
Jerome Powell reiterates no risk-free path for US Fed amid dual threats
Powell offered no hints on whether he might support a rate cut at the Fed’s next meeting, in October
ENTERTAINMENT
Nexstar joins Sinclair in boycotting Jimmy Kimmel’s show
Walt Disney Co., parent of ABC, said Kimmel would return to hosting duties after a suspension surrounding his remarks about the assassination of activist Charlie Kirk
BUSINESS
China courts foreign gold reserves to boost global clout
Countries have been snapping up gold as a hedge against mounting geopolitical risks, creating the opportunity for the PBOC to offer a haven for an asset deemed crucial as a buffer to economic shocks.
BUSINESS
VCs to AI Startups: Please take our money
For Decagon and a few dozen other top AI startups, the fundraising script has flipped: Instead of pitching venture capitalists up and down Sand Hill Road, VCs are pitching them, hovering with gifts and favors in hopes of leading their next round.
BUSINESS
Wall Street strategists chase S&P 500 like few times in history
Only in 2024 and 1999 have the calls lagged the market’s actual return so much around this time of the year.
BUSINESS
US stocks hold losses as Powell gives no hint of cuts
While most S&P 500 shares rose, the gauge edged lower as a gauge of megacaps underperformed. Ten-year yields slid one basis point to 4.13%
BUSINESS
Record rally takes S&P 500 past year-end forecast, Wall Street targets lag YTD return
Earnings growth estimates have been steadily advancing since July, giving equity investors yet another reason for optimism. Analysts now expect S&P 500 500 profits to grow 9.4% this year, up from 7.1% shortly after Labor Day, according to Bloomberg data.
BUSINESS
World economy yet to feel full force of Trump tariffs, OECD says
In new forecasts published on Tuesday, the Paris-based organization raised its 2025 outlook for world growth and most individual economies, citing the impact of front-loading in anticipation of higher tariffs
BUSINESS
L’Oréal only interested in Armani’s profitable beauty business
The French beauty giant was one of three preferred bidders cited in Armani’s will for an initial stake sale of 15% in Giorgio Armani SpA, which his heirs were directed to complete within 18 months
BUSINESS
ICICI Prudential AMC begins roadshows for $1.1 billion India IPO
The IPO involves the sale of 17.65 million shares, or a 10% stake held by Prudential, and could raise as much as 100 billion rupees ($1.1 billion)
BUSINESS
Jaguar Land Rover says plants will remain shut until October
The Range Rover maker has been hit hard by the cyberattack, which has derailed its operations for more than three weeks now.
BUSINESS
Botswana wants to buy De Beers controlling stake by next month, says President
Boko’s government is in talks with the US — the biggest buyer of natural gems — to remove tariffs on diamonds, and the president expects to meet Commerce Secretary Howard Lutnick to discuss the matter.
