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
BUSINESS
Cocoa’s historic crunch is easing further as harvests pick up
Production is forecast to outpace consumption by about 186,000 tons in the 2025-26 season that starts next month, according to the average estimate of as many as 13 analysts and traders compiled by Bloomberg.
BUSINESS
Taiwan curbs chip exports to South Africa in rare power move
Taiwan now requires pre-approval for the bulk of chips sold to the African nation, its trade regulator said
BUSINESS
China to stop claiming special WTO benefits that rankled US
The gesture is significant at a time when higher US tariffs are forcing China to divert ever more of its exports to rising economic powers from Latin America to Africa and Southeast Asia, a push that’s starting to meet resistance around the world
BUSINESS
Bain-Backed Dhoot Transmission appoints banks for $250 million IPO
Bain has a 49% stake in Dhoot after investing in the firm in January
BUSINESS
Pakistan’s Punjab sees rice loss as floods damage crops
Rice yields in the region, which saw the worst flooding in more than three decades, are likely to drop by more than 9% this year, according to a report by Pakistan’s government and the Rice Exporters Association of Pakistan
BUSINESS
India’s largest power producer NTPC considers bulk purchase of nuclear reactors
The state-run company aims to buy large units ranging from 700 megawatts to about 1,730 megawatts each, but hasn’t yet finalized the size of the tender
CRYPTOCURRENCY
Crypto giant Tether seeks funding at $500 billion valuation
The El Salvador-based company is seeking between $15 billion and $20 billion in exchange for a roughly 3% stake through a private placement
BUSINESS
Zijin Gold delays $3.2 billion IPO as typhoon pummels Hong Kong
The company pushed back the listing, set to be the world’s second largest this year, by a day to Sept. 30, it said Wednesday, citing bad weather.
BUSINESS
New Zealand names first woman as governor in central bank’s 90-year history
Anna Breman, who is currently First Deputy Governor of Sweden’s Riksbank, will start a five-year term on Dec. 1, Finance Minister Nicola Willis said Wednesday in Wellington
BUSINESS
Sri Lanka holds rates as growth quickens, tariff risks loom
The Central Bank of Sri Lanka maintained its overnight policy rate at 7.75%
WORLD
Trump’s amped up second term on full display in fiery UN speech
The speech was emblematic of a president whose second-term policies and pronouncements have been bigger and more aggressive — and far more disruptive to the global economic order — than those he advanced his first four years in the White House.
BUSINESS
Gold holds near record as traders weigh Fed, Russian tensions
Bullion was steady near $3,761 an ounce, about $30 shy of Tuesday’s peak, which was the third consecutive trading day it’s set a fresh high.
BUSINESS
Asian stocks edge lower after mixed Fed signals
The MSCI Asia Pacific Index fell 0.2% at the open with declines in Japan, which returned after a holiday, Australia and South Korea.
WORLD
Dimon says Trump’s new H-1B visa fee ‘caught everyone off guard’
Late last week, Trump signed a proclamation slapping a $100,000 fee on new H-1B petitions as a condition of entry to the US
WORLD
Jerome Powell reiterates no risk-free path for US Fed amid dual threats
Powell offered no hints on whether he might support a rate cut at the Fed’s next meeting, in October
ENTERTAINMENT
Nexstar joins Sinclair in boycotting Jimmy Kimmel’s show
Walt Disney Co., parent of ABC, said Kimmel would return to hosting duties after a suspension surrounding his remarks about the assassination of activist Charlie Kirk
BUSINESS
China courts foreign gold reserves to boost global clout
Countries have been snapping up gold as a hedge against mounting geopolitical risks, creating the opportunity for the PBOC to offer a haven for an asset deemed crucial as a buffer to economic shocks.
BUSINESS
VCs to AI Startups: Please take our money
For Decagon and a few dozen other top AI startups, the fundraising script has flipped: Instead of pitching venture capitalists up and down Sand Hill Road, VCs are pitching them, hovering with gifts and favors in hopes of leading their next round.
BUSINESS
Wall Street strategists chase S&P 500 like few times in history
Only in 2024 and 1999 have the calls lagged the market’s actual return so much around this time of the year.
BUSINESS
US stocks hold losses as Powell gives no hint of cuts
While most S&P 500 shares rose, the gauge edged lower as a gauge of megacaps underperformed. Ten-year yields slid one basis point to 4.13%
