BUSINESS
Depository NSDL set to start taking investor orders for IPO next week
The sale will involve divestments by major investors, including IDBI Bank Ltd., the National Stock Exchange of India Ltd. and the State Bank of India, while NSDL will not receive any proceeds, according to earlier statements.
BUSINESS
Reckitt Benckiser sells homecare brands to Advent in $4.8 billion deal
Reckitt said it will retain a 30% stake in the business, whose brands include Air Wick air fresheners and Cillit Bang cleaners. The enterprise value includes up to about $1.3 billion of contingent and deferred consideration.
BUSINESS
AI startup Perplexity valued at $18 billion with new funding
The deal is an extension of a previous round from a few months ago that valued the company at $14 billion
BUSINESS
Meta hires two key Apple AI experts after poaching their boss
The social networking giant hired Mark Lee and Tom Gunter for its Superintelligence Labs team, according to people with knowledge of the matter
BUSINESS
US set to impose 93.5% duty on China battery material
The new duties will add to existing rates making the effective tariff 160%, according to the American Active Anode Material Producers, the trade group that filed the complaint
BUSINESS
Tesla spars in court over autopilot alert 2 seconds before crash
A verdict against Tesla would be a blow at a time when the company is staking its future on self-driving and pushing to launch a long-promised robotaxi business
MARKETS
Asian stocks rise on TSMC’s advance, Dollar dips
The MSCI Asia Pacific Index rose 0.4%, with gains in Taiwan and Australia. Japanese stocks fluctuated. Equity-index futures for US rose after the S&P 500 and Nasdaq 100 set closing highs Thursday.
COMMODITIES
Gold steady as traders weigh US economy, rate cut directions
Traders will watch for the outcomes of a gathering of Fed officials at the end of this month to get a clearer sense of their direction. Gold is typically disadvantaged in a high interest-rate environment as it doesn’t offer interest.
WORLD
US initial jobless claims decline for a fifth straight week
The four-week moving average of new applications, a metric that helps smooth out volatility, dropped to 229,500 — the lowest since early May.
INDIA
Air India junior pilot asked captain why he turned off fuel switches
A preliminary report from India’s Aircraft Accident Investigation Bureau released last week included a description of the exchange, including one pilot’s denial that he turned off the switches, without identifying the individual speakers.
BUSINESS
Samsung billionaire Lee’s long legal saga ends with acquittal
The decision ends a years-long legal saga that had cast a shadow over the leadership of South Korea’s biggest conglomerate
BUSINESS
Trump eyes tariff rate of 10% or 15% for more than 150 countries
“We’ll have well over 150 countries that we’re just going to send a notice of payment out, and the notice of payment is going to say what the tariff” rate will be, Trump told reporters on Wednesday at the White House.
BUSINESS
Asian stocks waver at open after Trump-Powell saga
Equity-index futures for the S&P 500 fell 0.2% in early trading Thursday following a 0.3% gain for the index after President Donald Trump played down the prospect he may soon fire Powell
BUSINESS
JPMorgan is now worth more than three largest rivals combined
It racked up $30 billion of profit in that period, more than double its closest rival
WORLD
Trump says he’ll send tariff letters to more than 150 countries
Trump in recent days has unleashed a flurry of tariff demands, informing other economies of new duties that will kick in on August 1 if they cannot negotiate better terms with the US
BUSINESS
Trump now says firing Powell ‘unlikely,’ whipsawing US markets
Trump looked to downplay possibility of firing Powell, suggesting he was content to wait until the end of his term in May 2026.
BUSINESS
Trump likely to fire Federal Reserve Chair Jerome Powell soon: White House official
Anna Paulina Luna, a Florida Republican who was among the holdouts on the cryptocurrency bill, wrote on social media that she was “Hearing Jerome Powell is getting fired! From a very serious source.”
BUSINESS
SoftBank-backed travel app Klook is said to consider US listing
Klook may confidentially file an application for IPO in the US soon to raise from $300 million to $500 million
WORLD
Goldman posts best stock-trading quarter in Wall Street history
At $4.3 billion, equity-trading revenue for the second quarter was about $600 million more than what analysts were expecting
COMPANIES
Schneider Electric in talks to acquire Temasek’s stake in Indian JV for $1 billion
A potential transaction could value the whole venture at roughly $5 billion including debt
WORLD
Logan says Fed needs to hold rates longer to cool inflation
But Logan, who has been cautious about inflation during her three-year tenure as Dallas Fed chief, also opened the door to a scenario in which the central bank might have to cut rates earlier.
WORLD
Bessent is not top Fed candidate but ‘very good,’ Trump says
Asked by a reporter whether Bessent was the top option, Trump responded, “Well, he’s not, because I like the job he’s doing.”
BUSINESS
Larry Ellison overtakes Zuckerberg as world’s second-richest person
More than 80% of Ellison’s wealth is in the form of Oracle stock and options.
BUSINESS
Trump says drug tariffs probable by August 1, downplays more deals
At a Cabinet meeting earlier this month, Trump said he expected pharmaceutical tariffs to grow as high as 200% after giving companies a year to bring manufacturing back to the US.
