WORLD
Economic, political stakes loom as US shutdown threat rises
The White House issued a memo late Wednesday saying that a shutdown would trigger widespread dismissals of employees in government programs that do not align with Trump’s priorities
BUSINESS
Asia’s top defense stock DroneShield soars on military spending
Defense stocks have rallied this year as ongoing conflicts and geopolitical tensions have spurred governments to ramp up spending.
BUSINESS
JPMorgan joins wave of US tech ETFs to meet booming Asia demand
Total ETF assets in the region are projected to swell to $8 trillion by 2035, led by China, from about $2 trillion currently, according to BI. That’s versus roughly $12.5 trillion for the US market.
BUSINESS
Asian shares decline, Trump tariffs spook pharma
After a $15 trillion rebound in global equities from April’s lows, traders now face a wall of uncertainty as tariff headlines return to weigh on markets.
BUSINESS
LG Electronics said to launch $1.3 billion India IPO after pause
This values the company around $9 billion, the people said, significantly below the $15 billion it was expecting in December when the papers were filed the first time
COMPANIES
Citigroup moves almost 1,000 tech jobs to India after China cuts
The Wall Street lender shifted the jobs in phases over the past few months after it reduced staffing in China as part of a broader global overhaul
WORLD
Stanford, Columbia risk getting hit by Trump’s $100,000 H-1B fee
Stanford, the largest employer of H-1B holders in the education sector, currently employs more than 500 staff and faculty on the high-skill visa
BUSINESS
S&P 500 set for longest losing streak in a month
Following a series of record highs, the S&P 500 headed toward its longest slide in a month
BUSINESS
UK works to prop up firms hit by Jaguar Land Rover shutdown
Small suppliers that count JLR as a key customer are particularly affected. In countries such as Slovakia, suppliers have placed staff on shorter duty with the government covering part of their salary.
BUSINESS
Starbucks to close stores, cut jobs in $1 billion restructuring
Starbucks News: The company said its overall store count will drop by 1% during the 2025 fiscal year, ending with 18,300 total locations across the US and Canada.
WORLD
Intel seeking an investment from Apple as part of its comeback bid
Intel Chief Executive Officer Lip-Bu Tan is attempting a comeback with the backing of the federal government. In an unconventional deal brokered by the Trump administration in August, the US acquired a roughly 10% stake in the chipmaker.
BUSINESS
India heads for busiest month for IPOs in nearly three decades
IPO News: Of the ones this month, 15 companies have collectively raised nearly $1 billion, while the remaining 10 are are expected to raise an a total of about $500 million, according to India’s National Stock Exchange
INDIA
India may opt for French fighter jet engines as US talks drag on
India is facing a shortage of fighter jets and is looking to scale up production through joint ventures with leading global defence manufacturers.
BUSINESS
Hinduja flagship kicks off China tie-up with battery-making goal
Ashok Leyland’s collaboration with a Chinese cell-making behemoth, if successful, could serve as a test case for some of the largest Indian conglomerates.
BUSINESS
Alibaba, Nvidia show market is instantly rewarding AI spending
Other stocks that’ve seen a lift this year after pledging to spend more than $317 billion combined on AI include Meta Platforms Inc., Microsoft Corp, Alphabet Inc. and Amazon.com Inc., whose gains account for a major part of the S&P 500 Index’s rally in 2025.
BUSINESS
US sets stage for tariffs on robotics, medical devices
The newly announced probes expand the potential sectors that could be exposed to tariffs, as Trump looks to encourage domestic manufacturing in key industries by hiking the cost of imports.
BUSINESS
Intel is seeking an investment from Apple as part of its comeback bid
A deal with Apple, a longtime Intel customer that switched to in-house processors in the past five years, would represent further validation of the chipmaker’s turnaround bid.
BUSINESS
Gold rally stalls near record as US data clouds rate-cut outlook
Prices fell on Wednesday after data showed new-home sales in the US unexpectedly surged in August to the fastest pace since early 2022, easing some concerns about a slowdown in the world’s biggest economy.
BUSINESS
Asian stocks dip after Wall Street rally stalls
An index of US-listed Chinese companies rallied against the downcast mood on Wall Street to climb 2.8%, with Alibaba Group Holding Ltd. jumping 8.2%.
BUSINESS
Key Russia Black Sea oil ports pause loadings after drone alerts
The stoppages, which are temporary and precautionary, apply to the Caspian Pipeline Consortium terminal and the Sheskharis facility, both of which are near Novorossiysk.
MARKETS
US stocks keep showing signs of fatigue after rally
A brief advance on Alibaba Group's AI spending plans failed to prop up the market after the S&P 500 notched almost 30 records this year
WORLD
Saudi stocks jump most since 2020 on plan to relax foreign curbs
The Tadawul All Share Index jumped 5.1% on Wednesday, the most in more than five years
WORLD
Trump $100,000 H-1B visa move under review by California Attorney General
Trump’s policy, his biggest step yet toward overhauling the legal migration system in the US, would drastically increase the cost of a program popular with some of the largest American companies.
INDIA
India says it wants to buy more US energy as trade talks resume
Commerce minister Piyush Goyal is visiting US to meet his counterparts after President Donald Trump imposed 50% tariffs on Indian exports last month
