BUSINESS
Interns being offered Rs 12.5 lakh a month by high-speed trading firms
The hiring push and lavish pay packages continue even as increased regulation to protect the interests of loss-making retail investors has helped curb derivatives trading by more than 40% from a peak last year.
BUSINESS
Trump, Xi to hold call as TikTok, tariffs and Nvidia loom large
Trump and Xi are due to speak at 9 a.m. Washington time, or 9 p.m. in Beijing about a framework agreement unveiled this week to shift control of TikTok’s US operations from its Chinese parent ByteDance Ltd. to a consortium of American investors.
WORLD
Trump threatens licenses of TV stations that criticize him
The president’s comments came as he defended ABC’s decision to suspend Jimmy Kimmel’s show indefinitely over the late-night host’s remarks about the death of conservative activist Charlie Kirk.
BUSINESS
Asian stocks rise as global gauge hits new peak
Stocks in Japan and Australia opened higher while South Korea was flat.
BUSINESS
US initial jobless claims drop by most in almost four years
The four-week moving average of initial claims, a gauge that helps smooth out volatility, was little changed at 240,000.
BUSINESS
PayPal-backed Pine Labs plans up to $700 million IPO in October
The company filed a draft prospectus with India’s market regulator on June 25 and got its approval this month.
MARKETS
DE Shaw raising $5 billion in first hedge fund run by humans
The New York-based firm will take in between $3 billion and $5 billion in the D.E. Shaw Cogence Fund over the coming months
WORLD
Nightmare at Nestlé: The world's biggest food company faces a reckoning
Investors, frustrated with the strategic direction of the Swiss company, may welcome someone who forsakes long meetings in favor of getting things done
COMPANIES
Temasek EMEA to seek big deals, ditch smaller holdings
Temasek Global Investments is one of three new entities announced last month as part of the overhaul, as the firm attempts to streamline operations and improve results
WORLD
Roche to buy 89bio for up to $3.5 billion in obesity push
Roche is seeking to catch up with Novo Nordisk A/S and Eli Lilly & Co., makers of multibillion-dollar blockbusters Wegovy and Zepbound
BUSINESS
IPO pipeline worth $1 billion builds for India used-car startups
Three Unicorn startups — CARS24 Services Pvt., CarDekho and Spinny — that buy and sell pre-owned vehicles are in early talks with bankers to assess investor appetite
WORLD
Luigi Mangione and Charlie Kirk: Two incidents show how cracks have deepened in US
The viral nature of social media, which has spawned its own form of celebrity, is inflaming political divisions, anti-establishment sentiment and perceptions about the ills of capitalism
WORLD
Asia stocks rise after US Fed cuts rate by 25 bps
Shares in Japan and South Korea rose while Australia lagged.
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.
