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
BUSINESS
India's LNG demand drops in 2025 as buyers wait for supply wave
The world’s fourth-biggest LNG importer bought about 16 million tons of the super-chilled gas in the eight months through August, down 10% from a year earlier
BUSINESS
Asian stocks gain at open after Wall Street rally
Shares in Japan, Australia and South Korea opened higher, with the MSCI Asia-Pacific Index hovering near its record high.
BUSINESS
Alphabet surpasses $3 trillion in market value
Alphabet joins a short list of other companies valued above $3 trillion, with Nvidia Corp., Microsoft Corp., and Apple Inc. as the only other publicly traded stocks above that level.
BUSINESS
China eases cross-border financing rules to lure foreign capital
China’s existing home prices declined at an accelerated pace in last month, highlighting the need for broader support, even as major cities relax purchase restrictions.
WORLD
Trump says companies should report earnings every six months
Trump compared the US reporting process to China, suggesting that Beijing had a system in place that was more efficient and cost-effective for businesses in that country.
BUSINESS
China finds Nvidia violated antitrust law in chip deal probe
The surprise announcement emerged with US and Chinese officials heading into a second day of wide-ranging negotiations in Madrid over tariffs, which could shape the relationship between the world’s two largest economies
BUSINESS
Xiaomi hastens flagship smartphone release to take on iPhone 17
Founder and Chief Executive Officer Lei Jun said on Monday that his company wants to be measured against Apple’s smartphones, long considered the standard bearers at the high end of the market
BUSINESS
Pop Mart shares slump most since April on JPMorgan downgrade
The Chinese toymaker’s stock slumped nearly 9% in Hong Kong to the lowest level in more than a month. It is still up more than 180% year-to-date and remains the top performer on the Hang Seng Index
BUSINESS
Aluminum heads for longest winning streak in a year before Fed
Benchmark aluminum on the London Metal Exchange rose alongside equities in Asia, with the metal on track for the longest run of gains in more than a year
BUSINESS
Trump expects a ‘big cut’ from Federal Reserve this week
Trump has been putting pressure for months on Fed Chair Jerome Powell to cut rates and repeatedly encouraged him to resign
BUSINESS
South Korea scraps plans to raise capital gains tax
The decision follows months of opposition from Lee’s core voter base, many of whom are retail investors
BUSINESS
Gold trades near record high as Fed expected to cut rates
Bullion traded near $3,640 an ounce, after gaining for four consecutive weeks.
