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Asia
The Hindu BusinessLine

DoT readies Cabinet note on Satcom spectrum charges; approval may come in coming days

The Department of Telecom has prepared a Cabinet note on spectrum usage charges for satellite communication (Satcom) services. | Photo Credit: Kang-Chun Cheng The Department of Telecom has prepared a Cabinet note on spectrum usage charges for satellite communication (Satcom) services, which is expected to be placed before the Cabinet for consideration and approval in the coming days, according to government sources. “The Cabinet may soon approve the spectrum norms for the Satcom services...the decision has been already taken for 5 per cent AGR with 1 per cent discount for some rural areas, which the government would decide. The draft is ready and it can come any time in the coming days,” a senior government official told businessline. Last month, the Digital Communications Commission (DCC) approved a spectrum usage charge (SUC) of 5 per cent of adjusted gross revenue (AGR) for Satcom service providers, with a reduction of one percentage point, taking the charge to 4 per cent for services delivered in government-notified hard-to-connect and remote border areas. The proposal now awaits the next stage of government consideration. Even after a decision on the spectrum usage charge and administrative allocation of spectrum, companies will have to obtain the requisite security clearances, including from the Ministry of Home Affairs, before commencing operations, in accordance with the applicable conditions. Meanwhile, government sources said domestic companies would be encouraged to participate in the sector rather than India depending only on foreign players, citing concerns over security, accountability and the sourcing of equipment. This is significant in the context of recent outburst by Elon Musk who has accused certain “oligarchs” of trying to block Starlink’s Satcom services in India to “maintain their monopolistic chokehold on the Indian people”. In posts on X, he questioned whether “Ambani is the real boss of India”. Dear Prime Minister Ambani, Please accept my humble apologies for not realizing that you are the real boss of India. Naturally, you would prefer to maintain your monopolistic exploitation of the great people of India, but would you nonetheless consider allowing Starlink to compete? There are many areas of India, as there are in all countries, with no Internet access, which denies children the opportunity for education and for small businesses the opportunity to sell their goods to a global market. Starlink would change their lives for the better. Thank you 🙏 “I think liabilities can be taken care of if more domestic players are involved in the sector, Satcom is an all-new sector and we need to understand who is doing what, and equipment are procured within the country. Who would take the responsibilities of anything going wrong up in the orbits? We have to rely on someone who can be trusted,” said another government official. However, officials said India could also consider other foreign operators, including Amazon Leo, formerly known as Project Kuiper, which is in the process of seeking approval for Satcom testing in the country. Such companies would have to comply with Indian security requirements. Amazon Leo is a low-earth-orbit (LEO) satellite broadband network designed to provide high-speed, low-latency internet connectivity, including in underserved areas. “Any company that is ready to work with conditions laid out by the government are welcome. National security is our primary requirement and also a priority, and anybody who wants to operate in our country, has to follow the law of the land. We have data centres that store data within our country, apps/ social media platforms that abide by set conditions. So, in similar way, same has to be done for the Satcom,” the official said.

DoT readies Cabinet note on Satcom spectrum charges; approval may come in coming days
North America
CNBC Finance

People switching to Novo's Wegovy pill from obesity injections kept losing weight in real-world study 

People who switched from obesity injections to Novo's new Wegovy pill continued to lose weight after three months, according to an analysis of real-world data the company presented on Wednesday. Real-world studies evaluate associations and can't determine causality. But the results suggest that the Wegovy pill may improve upon the initial weight loss people experience on blockbuster injections rather than simply maintain it. It also suggests that patients may not need to take weekly shots like Wegovy and Zepbound forever, and can instead opt for more convenient treatments such as Novo's pill. Novo's analysis used data from Ro's telehealth platform on 194 patients with obesity or who were overweight, around 56% of whom were female. Half started on Novo's Wegovy injection and the rest initially took Eli Lilly's shot Zepbound. Patients who switched from an injection to the Wegovy pill and stayed on treatment for three months lost roughly 4% of their weight, or an additional 8.8 pounds, on average. That's based on an average starting weight of around 221 pounds before taking the pill, Novo said. Of those participants, 2 in 5 achieved 5% or more weight loss three months after switching to the pill. Meanwhile, the share of people with a body mass index at or above 30 decreased by more than 21% three months after switching to oral Wegovy. A BMI of 30 shifts a person from the overweight category into obesity. "We have the unique benefit that, in the market, the subcutaneous Wegovy can now be interchanged with a tablet of Wegovy, and the patient can expect the same tolerability profile, the same safety profile, and actually a little bit more weight loss, which is what a lot of them want," Martin Holst Lange, Novo's chief scientific officer, said in an interview. Among patients with available data, around 82% reported at least one improvement during treatment with the pill. That includes almost 70% who reported better-fitting clothes and around 51% who said they pursued healthier eating. Around 75% of patients in the analysis said they were satisfied with the switch to a pill, according to Novo. "I think we are seeing a shift where we, maybe just a year ago, we actually thought that the vast majority of patients who wanted treatment for obesity were happy with a subcutaneous treatment," Lange said. "We see that picture differently now. We clearly see a preference for orals." He pointed to people who travel a lot and don't want to think about refrigerating their injections. It is among the first real-world evidence of weight loss outcomes among patients switching from blockbuster injections, particularly Novo's Wegovy shot and Lilly's rival Zepbound, to the new pill. But the study's limitations include variable timing and completeness of the data collected during routine telehealth care, self-reported data being subject to bias and results "not being generalizable to the broader population," Novo said. The figures are also one of several new datasets Novo is unveiling this week on its obesity and diabetes pipeline at the European Association for the Study of Diabetes in Milan, Italy.

People switching to Novo's Wegovy pill from obesity injections kept losing weight in real-world study 
North America
CNBC Finance

Eli Lilly says closely watched combo obesity regimen boosts weight loss in mid-stage trial

Eli Lilly on Wednesday said its experimental combination regimen resulted in greater weight loss than a high dose of its top-selling drug, tirzepatide, alone in a mid-stage trial on patients with obesity and Type 2 diabetes. The combo therapy met the study's main goals in a population that typically struggles to lose weight. The results raise hopes that the combo regimen could serve as an alternative blockbuster treatment option for people who didn't see the results they wanted from using the current GLP-1 products on the market. Lilly said it plans to start Phase 3 trials on the regimen at the end of the year. The combination treatment combines Lilly's experimental drug eloralintide, which targets amylin — a hormone in the pancreas involved in appetite and satiety — with a low dose of tirzepatide, the active ingredient in its obesity injection Zepbound and its diabetes counterpart Mounjaro. Tirzepatide targets two gut hormones, GLP-1 and GIP. Lilly believes that hitting all three pathways, including amylin, can further reduce appetite and improve weight loss — and the combo drug did just that in the 48-week Phase 2 trial. People taking the highest dose of the combo regimen lost up to 23.3% of their weight, or around 54 pounds, on average. That treatment combined 9 milligrams of the amylin drug and 15 milligrams of tirzepatide. Meanwhile, patients taking only a 15-milligram dose of tirzepatide saw 14.8% weight loss, or 34.4 pounds, on average. Those who took eloralintide alone lost up to 12.3% of their weight, or 28.6 pounds, on average. "Patients may not get what they need from a drug like tirzepatide," Ken Custer, president of Lilly Cardiometabolic Health, said in an interview. "They may not get what they need from a drug like a eloralintide on its own. The ability to combine them together and provide even greater weight loss — that's definitely one obvious" benefit of the new regimen. The combo treatment also lowered a key measure of blood sugar levels — A1C — by up to 2.9% on average. Higher-dose tirzepatide reduced A1C by up to 2.4% on average, while the amylin drug lowered it by up to 1.4% on average. Lilly may face more questions from investors and the medical community about how well patients tolerate and stay on the highly effective combination therapy. More patients on the combo regimen — 10.8% to 27%, depending on the dose — discontinued treatment due to side effects, compared with the 2.9% of people on tirzepatide alone in the trial. Up to 10.8% of people on the amylin drug alone discontinued treatment due to side effects, compared with 16.7% with placebo. Lilly said the side effects were more frequent in groups taking the combination regimen compared with tirzepatide or the amylin drug alone. The most common side effects of the combo therapy were gastrointestinal-related, generally mild or moderate in severity, and mainly occurred when patients increased doses in the trial.

Eli Lilly says closely watched combo obesity regimen boosts weight loss in mid-stage trial
Asia
The Economic Times

9 stocks zoom up to 37% in 3 months; MFs raise stakes in September quarter

Of the BSE 500 companies, around 68 have reported their September 2026 quarter shareholding data. Mutual funds increased their stakes in approximately 44 of these companies compared with the June 2026 quarter. Interestingly, most of these stocks delivered negative returns over the past three months despite higher mutual fund holdings. However, nine stocks bucked the trend, delivering double-digit returns of up to 37% as mutual funds raised their stakes during the September quarter. (Data source: ACE Equity) The stock surged 37% over the past three months, rising from Rs 6,811 to Rs 9,326. Mutual fund holdings increased to 14.66% in September 2026 from 13.87% in June 2026. The stock rallied 30% over the past three months, climbing from Rs 769 to Rs 999. Mutual fund holdings rose to 10.61% in September 2026 from 9.78% in June 2026. The stock gained 22% over the past three months, rising from Rs 191 to Rs 233. Mutual fund holdings increased to 11.68% in September 2026 from 8.15% in June 2026. The stock climbed 20% over the past three months, advancing from Rs 1,237 to Rs 1,488. Mutual fund holdings edged up to 29.56% in September 2026 from 29.47% in June 2026. The stock advanced 19% over the past three months, rising from Rs 568 to Rs 679. Mutual fund holdings increased to 27.55% in September 2026 from 25.83% in June 2026. The stock rallied 19% over the past three months, rising from Rs 4,829 to Rs 5,730. Mutual fund holdings rose to 21.79% in September 2026 from 21.32% in June 2026. The stock gained 15% over the past three months, climbing from Rs 363 to Rs 417. Mutual fund holdings increased to 15.97% in September 2026 from 14.29% in June 2026. The stock advanced 15% over the past three months, rising from Rs 150 to Rs 172. Mutual fund holdings rose to 0.37% in September 2026 from 0.31% in June 2026. The stock climbed 12% over the past three months, rising from Rs 946 to Rs 1,060. Mutual fund holdings edged up to 1.76% in September 2026 from 1.75% in June 2026.

9 stocks zoom up to 37% in 3 months; MFs raise stakes in September quarter
North America
CNBC Finance

MGM CEO leaves door open to People Inc. bid as casino dealmaking heats up

MGM Resorts International CEO Bill Hornbuckle is leaving open the possibility that the casino operator could acquire Barry Diller's People Inc., a striking reversal after the media company abandoned its own effort to take over MGM. Asked at the Global Gaming Expo this week whether MGM was considering buying People Inc., Hornbuckle said MGM would continue pursuing what is in the best interest of shareholders and "trying to unlock the value of a company that we think is grossly undervalued." Hornbuckle pointed to MGM's collection of assets, including BetMGM, its casino operations in Macao, its resort under construction in Japan and its properties in Las Vegas. The Wall Street Journal reported last week that MGM was exploring an offer for People Inc. The publishing and holding company, formerly known as IAC, owns roughly 27% of MGM and is its largest shareholder. People Inc. last week withdrew its $48.30-per-share proposal to buy the rest of MGM. Diller said the "mix" of factors required to complete the transaction had not come together as the company had hoped, but said People Inc. remained interested in a possible strategic transaction with MGM. Hornbuckle called Diller and People Inc. "an amazing shareholder" and said Diller remains bullish on Las Vegas. "There's nothing like it replicated anywhere in the world," Hornbuckle said. "It is the one place, particularly in his world, where AI won't disintermediate it." Unlike some of People Inc.'s publishing and digital businesses, Hornbuckle said, Las Vegas is built around physical experiences that artificial intelligence cannot replace. "People are coming here to enjoy things physically, and that's not going to change," he said. MGM shares were trading near $32 ahead of the G2E discussion, well below the $48.30 price People Inc. had offered in June. The talks between MGM and People Inc. come as one of MGM's biggest Las Vegas rivals prepares for a take-private transaction. Caesars Entertainment shareholders last week approved the company's $17.6 billion sale, including assumed debt, to Fertitta Entertainment. The deal would combine Caesars' casino and digital operations with Tilman Fertitta's Golden Nugget casinos, Landry's restaurant group and other hospitality assets.

MGM CEO leaves door open to People Inc. bid as casino dealmaking heats up
Europe
The Guardian

Federal Reserve watchdog finds no criminal violations for building renovation cost overruns

Donald Trump and Jerome Powell visit the Federal Reserve building on 24 July 2025 in Washington DC. Photograph: Julia Demaree Nikhinson/APView image in fullscreenDonald Trump and Jerome Powell visit the Federal Reserve building on 24 July 2025 in Washington DC. Photograph: Julia Demaree Nikhinson/APFederal ReserveFederal Reserve watchdog finds no criminal violations for building renovation cost overrunsTrump criticized $2.4bn rehab amid attempts to pressure then Fed chair Jerome Powell into lowering interest rates An internal watchdog said the Federal Reserve mismanaged costs associated with a $2.4bn renovation of its Washington DC headquarters, but noted that no criminal violations occurred, according to a report released on Wednesday. For over a year, Donald Trump has centered his attacks against the Fed and former chair Jerome Powell around the renovations, including a months-long Department of Justice criminal investigation that was dropped in April. The report said that the Fed’s board of governors “has not effectively managed” the construction project and “repeatedly deviated from its cost-management provisions”, but noted that the mismanagement was not criminal and that it did not find any administrative misconduct in its evaluation. “At no point during our evaluation did we find reasonable grounds to believe that a violation of federal criminal law had occurred,” the report said. Over the course of renovations, construction costs have gone from an initially budgeted $921m in February 2020 to $2.018bn by December 2024. Construction was supposed to be completed in mid-2024 but is not slated to go until December 2027. The renovations have been a key part of the tension between the White House and the Fed, which by law is supposed to be non-partisan and independent. Trump has long been trying to pressure the Fed into lowering interest rates, to no avail. Trump latched on to the Fed’s ongoing renovations as an attack point against Powell in June 2025, suggesting that it amounted to corruption. He suggested that renovations included elaborate features including a VIP dining room and a garden terrace. In response, the Fed posted a video tour of the ongoing construction, noting that two buildings have not undergone renovations since the 1930s. Trump visited the Fed’s headquarters to highlight the expenses that July. Donning hardhats in the bowels of the construction site, Trump and Powell had a spat over budget figures. “It looks like it’s about $3.1bn,” Trump said at the time. “It went up a little bit or a lot.” The typically reserved Powell became visibly annoyed. “I am not aware of that,” he said.

Federal Reserve watchdog finds no criminal violations for building renovation cost overruns
Europe
BBC Business

UK diesel price hits £2 a litre as US calls for Europe to release more stocks

Image source, PA MediaByLucy HookerBusiness reporterPublished2 October 2026, 11:11 BSTUpdated 39 minutes agoThe average price of diesel has risen above £2 a litre in the UK for the first time, according to the RAC motoring body, as the fallout from the Iran war continues to push up the cost of fuel. Diesel has now hit an average of 200.01p a litre, the RAC said, and petrol prices are also still rising, reaching 174.71p a litre on average. The motoring group said price rises were "showing no signs of slowing, heaping more misery onto motorists". The US has put increasing pressure on European countries to release more diesel stocks, to help lower diesel prices worldwide, with President Trump threatening to ban US exports of the fuel. Banning exports would mean more US diesel for the domestic market, which could ease prices for American motorists ahead of the midterm elections in November. However, it would be likely to push up prices elsewhere, including in the UK and the EU. US President Donald Trump said he was considering a ban, and backed his Treasury Secretary Scott Bessent who has urged European countries to release diesel supplies "immediately", arguing that US farmers, truckers, and businesses "should not be left carrying the burden" as prices soar. On Friday, the EU said it "fully rejects" the US threat to ban diesel exports if Europe fails to release more of its reserves onto the market. "It would undermine our trust in the United States as a reliable partner," an EU spokesperson said. EU countries agreed in March to release some stocks as part of an internationally co-ordinated response to the Iran war. With prospects for the war and fuel supplies still uncertain, not all EU countries have met those commitments. "We have a diverse and resilient supply. We continue to engage with our international partners and the UK fuel industry," a government spokesperson said. The government has stressed that there is no cause for concern about potential diesel shortages, though prices are expected to rise further.

UK diesel price hits £2 a litre as US calls for Europe to release more stocks
Asia
The Hindu BusinessLine

Nifty 50 Prediction for the Week: Nifty, Sensex hold above their crucial support

Nifty 50 and Sensex have snapped their eight-week fall. Both the indices managed to witness some recovery and close the week higher by 0.44 per cent and 0.78 per cent respectively. Nifty Bank index on the other hand was up 1.48 per cent last week after having fallen for six consecutive weeks. On the charts, the benchmark indices are holding very well above their crucial support in spite of high volatility. That keeps alive the chances of seeing a good recovery in the coming weeks. The danger is only if the indices break below their key support. The Foreign Portfolio Investors (FPIs) continue to sell heavily. The equity segment saw a net outflow of $3.6 billion last week. With this, the total outflow in the equities for the month of October stands at $4.58 billion. Continuous selling from the FPIs can keep the benchmark indices subdued. Short-term outlook: The support at 22,100 is holding well for now. As long as the Nifty stays above this support, a rise to 22,800-23,000 is possible from here. Failure to breach 23,000 can drag the index down to 22,100 again. A strong break above 23,000 will ease the downside pressure. Such a break can take the Nifty higher to 23,200, 23,600 and even 24,000 in the short term. The danger is only if the Nifty breaks below 22,100. If that happens, we can see the index declining to 20,500. Medium-term view: For now, the broad 22,000-26,500 range is intact. The rise to 24,000 mentioned above will keep the upside open to see 26,500 over the medium term. We are continuing to retain our long-term bullish view. We expect the Nifty to breach 26,500 in the coming months and go up to 28,000 and 30,000 in the long term. The break below 21,800 and the fall to 20,500 will be an initial sign to indicate that our bullish view is going wrong. Short-term view: The index sustained higher and stable above 54,350 all through the week. Immediate resistance is at 55,600. A break above it can take the Nifty Bank index higher to 57,000-57,500. Failure to break 55,600 can drag the index down to 54,350-54,000 again. The level of 53,800 is a crucial support to watch. The index will come under more selling pressure if it breaks below this support. Such a break can drag the Nifty Bank index down to 51,000 in the coming weeks. Medium-term view: The level of 51,000 is a strong support which can limit the downside. As long as the index sustains above 51,000, there is no major change in our long-term bullish view. We reiterate that 65,000 and 68,000-69,000 can be seen on the upside in the long term. A sustained rise above 61,000 will clear the way for this rally.

Nifty 50 Prediction for the Week: Nifty, Sensex hold above their crucial support
Asia
The Hindu BusinessLine

Why India needs a decentralised cold chain

India’s cold-chain debate has focused on building cold storages and adding refrigerated vehicles. Both are necessary, but produce often begins losing value earlier, at the farm gate, fishing harbour, collection centre or during its first journey to market. A 2022 study commissioned by the Ministry of Food Processing Industries and conducted by NABCONS estimated post-harvest losses of 6.02 to 15.05 per cent for fruits, 4.87 to 11.61 per cent for vegetables, 4.86 per cent for inland fisheries and 8.76 per cent for marine fisheries. These losses reduce incomes and raise supply-chain costs. The challenge is structural. About 86 per cent of India’s operational agricultural holdings are small or marginal, according to the Agriculture Census 2015-16. Their volumes rarely justify individual cold rooms, packhouses or refrigerated vehicles. Large-load infrastructure cannot efficiently serve dispersed farmers harvesting only a few crates. Cold-storage capacity alone cannot represent an effective cold chain. Produce must be sorted, pre-cooled, stored and transported without prolonged heat exposure. The National Centre for Cold Chain Development has found that gaps in modern packhouses and refrigerated transport are more severe than the shortage of bulk storage. Links between farms, facilities and markets remain uneven. Farmers cannot wait for refrigerated trucks to fill, while fishers cannot postpone cooling their catch. Crushed ice remains common in fisheries, but it adds weight, melts, provides inconsistent temperatures and can pose hygiene risks when made from poor-quality water. Conventional refrigeration is rarely economical for small landing centres. Grocery and quick-commerce companies move small consignments from warehouses to multiple dark stores. Refrigerated trucks become expensive on short routes or with partial loads, while their cooling systems add fuel consumption, maintenance costs and emissions. India therefore needs cooling that can be accessed when required and paid for according to use. Cooling-as-a-Service allows farmers, fishers, food companies and logistics operators to use temperature-controlled storage or transport without owning the equipment. Phase Change Materials, or PCMs, can support this model. Charged centrally and placed inside insulated boxes, containers or cold rooms, they absorb and release thermal energy at a defined temperature without continuously running a compressor. Electricity is still needed for charging, but cooling can be generated centrally and used elsewhere. NCCD’s 2025 energy-transition report identifies PCM packaging as an emerging option for temperature-controlled transportation. This enables hub-and-spoke networks in which local centres charge, distribute and collect reusable panels. In fisheries, PCM-fitted boxes can reduce dependence on crushed ice on suitable routes. The catch remains dry, temperatures are steadier and ordinary vehicles can carry the boxes. Charging hubs can also support local entrepreneurs. In a farm-gate programme across Telangana and Andhra Pradesh, small evaporative cold rooms were combined with insulated boxes and rechargeable panels in a network reaching 5,000 farmers. Such systems can reduce distress sales. Impact should be measured through spoilage reduction, price realisation and income changes. Thermal storage can also strengthen existing cold rooms. In field trials, PCM retrofits reduced compressor run-time by about 44 to 45 per cent, lowered mechanical stress and maintained temperatures during power interruptions. Performance must be assessed through electricity consumption and temperature compliance, not compressor run-time alone. Modular cooling cannot replace active refrigeration for long-distance transport, bulk cargo or highly sensitive products. Its role is to fill gaps where conventional infrastructure is too expensive, distant or poorly matched to the load. Shared charging hubs, pay-per-use cooling, crop-specific cold rooms, reusable thermal packaging and temperature monitoring can connect farms and landing centres to existing infrastructure. India needs a cold chain that is not merely bigger, but more distributed and accessible.

Why India needs a decentralised cold chain