Business & Finance news
Banking, economy, markets, companies, startups, and real estate.
- Foreign Investors Signal Confidence in India's Long‑Term Growth
· Business & Finance
India sees foreign investment surge: Fairfax to buy 60.72% of IDBI Bank for ₹52,878 crore, Blackstone doubles India stake to $100bn.
- Global Markets Tumble as AI Stocks and Inflation Concerns Surge
· Business & Finance
AI-linked shares plunge, sparking a global sell‑off as U.S. inflation data fuels fears of rate hikes, sending South Korea, Japan, and U.S. indices sharply…
- RBI Raises Repo Rate to 5.5% Amid Rising Inflation and Global Tightening
· Business & Finance
RBI raises repo rate to 5.5%, first increase since Feb 2023, to curb inflation amid energy price pressures and weak monsoon. GDP outlook now 7.1%.
- Social Security 2027 COLA Set at 3.6%, Adding $75 Monthly, but Many Retirees Say It Won’t Keep Pace with Rising Costs
· Business & Finance
The Social Security Administration announced that it will apply a 3.6% cost‑of‑living adjustment (COLA) to benefits for older adults and people with…
- Bengaluru Worker Claims Manager Denied Dussehra Leave After PIP Placement
· Business & Finance
A Bengaluru retail employee says his manager placed him on a PIP before a planned Dussehra trip and denied his leave request, sparking Reddit debate.
- US to Receive First Belarusian Potash Shipment in Four Years Amid Trade Shift
· Business & Finance
A 30,000‑tonne potash shipment from Belarus arrives at New Orleans, marking the first U.S. import in four years after sanctions were lifted.
- Bank of England to Feature Puffin, Owl, Bumblebee and Hedgehog on New Banknotes
· Business & Finance
Bank of England will feature puffin, owl, bumblebee and hedgehog on £5, £10, £20, and £50 notes after a public vote of over 2.5 million votes.
- LSE chief urges government to boost UK market to stem firm exodus
· Business & Finance
LSE chief Dame Julia Hoggett urges UK government to make the stock market more attractive, citing firm exodus to the US and calls for tax reform.
- China’s September Exports Jump 36.3% to $447.18 bn, Driven by Tech Trade
· Business & Finance
Exports from China rose 36.3 percent year‑on‑year in September, reaching $447.18 bn, the largest monthly increase since 2021, according to government…
- Bank of America Faces $1.21 Billion in Treasury Penalties for Sanctions and Money‑Laundering Violations
· Business & Finance
The Treasury will impose over $1.21 billion in penalties on Bank of America for anti‑money‑laundering and sanctions violations, the third‑largest fine ever.
- SpiceJet Faces Pilot Strike Over Unpaid Salaries Amid Operational Strain
· Business & Finance
SpiceJet pilots refuse to fly over unpaid salaries; ALPA India offers support. The airline reports a ₹261.38 crore loss and a 1.2% market share.
- Sebi Calls for Direct Monitoring Agency Reporting and Fines for IPO Non‑Cooperation
· Business & Finance
SEBI proposes monitoring agencies submit IPO proceeds reports directly to exchanges, imposes ₹50,000 fines for non‑cooperation, and revised reports in 15 days.
- UPI Merchant Discount Rate to Affect Some Businesses, Survey Shows
· Business & Finance
India’s new UPI merchant discount rate will add costs for some merchants, with 25% expecting over ₹5,000 monthly fees, while most payments stay free.
- India’s Private Firms Strengthen Balance Sheets, Attract Capital Across Key Sectors
· Business & Finance
India’s private firms tighten balance sheets, attracting capital into renewable energy, semiconductors, pharmaceuticals and aviation, says Nirmala Sitharaman.
- Bank of Ghana Issues Warning on Improper Cedi Note Repairs
· Business & Finance
The Bank of Ghana warns against using tape and glue to repair cedi notes, urging the public to use channels for replacements to protect currency integrity.
- GST Council Proposes E‑Invoicing for Imported Services to Tighten Compliance
· Business & Finance
GST Council proposes e‑invoicing for overseas software, cloud, and consulting services for firms with ₹5 crore+ turnover, effective April 2027.
- Sri Lanka Rupee Rises to 330.65/70 Against the Dollar, Bond Yields Hold Steady
· Business & Finance
Sri Lankan rupee traded at 330.65/70 to the dollar on Oct 2, 2026, up from 330.60/70. Bond yields stayed largely unchanged, with 2028 bond at 10.51/54%.
- Historic Miami Beach Hotel Set to Reopen After Nine‑Year Closure
· Business & Finance
The 45‑room Tides Hotel on Miami Beach’s Ocean Drive will reopen in November 2026 after a nine‑year closure, following renovations.
- Global Finance Leaders Convene in Bangkok Amid Middle East Conflict and Rising Debt
· Business & Finance
Finance leaders gather in Bangkok for IMF and World Bank meetings, focusing on the US‑Israel war, inflation, and rising global debt.
- Volkswagen CEO Supports EU ‘Made in Europe’ Initiative to Level Playing Field with China
· Business & Finance
Volkswagen CEO Oliver Blume backs EU rules to level the playing field with China, urging rewards for European value creation and job cuts.
- George Foreman’s 13.5‑acre Texas Estate, Built for Cars and Family, Listed for $6 Million
· Business & Finance
13.5‑acre Texas estate of boxing legend George Foreman, featuring a 12,000‑sq‑ft home, 11,000‑sq‑ft garage, 40+ luxury cars, and a $6 million asking price.
- IIT Kanpur Graduate Struggles Unemployment in Dallas, Raises $9,000 via GoFundMe
· Business & Finance
61‑year‑old Gautam Dev, an IIT Kanpur alumnus who moved to the United States for a full‑time software engineering job, said he has been unable to secure…
- Stock Index Drops to 2,598.89 Points Amid Normal Trading Volume
· Business & Finance
Kathmandu stock index falls below 2,600 for first time in weeks, ending at 2,598.89 points with normal trading volume.
- SoftBank Founder Masayoshi Son Seeks $100 Billion from Gulf Investors for AI‑Driven Buyout Fund
· Business & Finance
SoftBank founder and Japan’s richest person, Masayoshi Son, is looking to raise up to $100 billion from Gulf investors to create a new fund that would…
- Woman’s Bulk Purchase of 196 Parking Spaces in Changsha Sparks Legal Battle
· Business & Finance
A woman named Wu bought 196 parking spaces—40 per cent of a residential community’s total inventory—in Changsha, Hunan province, for 14 million yuan…
- Malibu Beach House Once Owned by Steve McQueen Sold, Renovated, and Listed for $16.995 Million
· Business & Finance
4,335‑sq‑ft Malibu home once owned by Steve McQueen, renovated by Ammar Malik, listed at $16.995 million with oceanfront decks and private beach access.
- IOCL Executive Rakesh Kumar Nominated for CPCL Director of Operations
· Business & Finance
Rakesh Kumar, IOCL GM of Technical Services, is recommended for CPCL Director of Operations after a competitive panel interview. Awaiting Cabinet approval.
- Indian Jewelers Boost Natural Diamond Appeal Amid Lab‑Grown Competition
· Business & Finance
Indian jewelers boost natural diamonds for the festive season, stressing rarity as lab‑grown stones rise. De Beers expands occasions and retail reach.
- Georgia Landowner Challenges $3.5 B Pipeline After Route Shift to His 2.5‑Mile Property
· Business & Finance
Donnie Peek, a 79‑year‑old Georgia landowner, filed a challenge with FERC after a $3.5B pipeline was rerouted to cross 2.5 miles of his 1,600‑acre property.
- Conagra Ends Production of Celeste Frozen Pizzas After 60 Years
· Business & Finance
Conagra Brands has halted production of Celeste frozen pizzas, a 60‑year‑old brand, as part of a SKU rationalisation to focus on higher‑growth products.