INDIA
India probing 40 coal importers for over-valuing cargoes
The government’s department of revenue intelligence, or DRI, is conducting the probe, coal minister said in a written reply, without elaborating
IPO
Bonfiglioli’s India unit is said to consider $250 million IPO
Deliberations are ongoing, and details such as the size of Bonfiglioli’s offering could change
BUSINESS
India’s record renewables rollout moves it closer to 2030 goal
The country added 22 gigawatts of capacity during the six months through June, 56% more than a year earlier
WORLD
Hong Kong probes Louis Vuitton data leak after string of attacks
Leaked data of the Hong Kong customers include names, passport numbers, birth dates, addresses, email addresses, phone numbers, shopping history and product preferences
WORLD
China threatens response to EU sanctions on banks, firms
It’s the first time that Chinese banks have been added to the European sanctions list since the Russian invasion of Ukraine in 2022.
BUSINESS
China’s rare-earth magnet shipments jump 158% after trade truce
Total cargoes of the magnets rose to 3,188 tons last month, according to Chinese data on Sunday, more than double volumes of 1,238 tons in May in the midst of China’s curbs.
WORLD
Japan's PM Ishiba vows to stay on despite historic election defeat
The result is the second dismal election showing for Ishiba since he became premier last October, even though the coalition’s tally of 47 seats may yet be enough to keep his job.
MARKETS
London Stock Exchange Group weighs 24-hour trading: Report
The operator of London’s bourse is holding discussions about whether to extend its hours, including to round-the-clock trading
WORLD
How a contract clause sparked a feud between two of world's most powerful oil firms
The story behind how it unfolded shows how American oil executives’ usual cordial relationships were pushed to the breaking point when a $1 trillion discovery was at stake
WORLD
Elon Musk says xAI will make kid-friendly app called Baby Grok
The billionaire didn’t provide further details on Baby Grok in a post on X
WORLD
After stock market’s torrid run, earnings misses face punishment
The S&P 500 Index closed near an all-time high Friday, after notching seven new records in just 15 sessions
WORLD
Trump’s ambitions collide with Epstein, Fed and health concerns
As Trump gears up for a trip to the UK next week to finalize a trade deal with PM Starmer, he finds himself looking slightly vulnerable
MARKETS
Charting the global economy: Tariffs trickling to US consumers
In China, a 5.2% increase in second-quarter gross domestic product beat expectations, bringing the official 5% expansion goal for the year within reach
BUSINESS
Jack Dorsey’s Block is set to join S&P 500 Index, replacing Hess
Block is aiming to turn Cash App into a full-scale banking and lending product, even as the company grapples with uneven earnings results.
WORLD
Pakistan’s Finance Minister Muhammad Aurangzeb in US to push for trade deal
Aurangzeb’s visit comes after an earlier Pakistani delegation was given an exhaustive list of demands from the US to cut the country’s tariff and non-tariff barriers as conditions for a trade deal
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.
