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North America
Yahoo Finance

Dow, S&P 500, Nasdaq Futures Climb Ahead Of Key China Summit: CRML, APLD, GME, AMD Stocks In Focus

U.S. stock futures traded higher in the overnight session late Sunday ahead of a key summit this week between President Donald Trump and Chinese President Xi Jinping, expected to take place in Washington. Dow futures climbed 0.27%, while the S&P 500 gained 0.34%, and the Nasdaq-100 edged 0.54% higher at 10:03 PM EDT. On Friday, the Dow Jones Industrial Average declined 0.18% at close. Meanwhile, the S&P 500 index and the Nasdaq-100 climbed 0.17% and 0.67% at close. Meanwhile, the benchmark indexes were mixed last week. The Dow closed down 1.69%, extending to three consecutive weeks of declines. The S&P 500 also fell 0.08% in the same time, while the Nasdaq Composite edged up 0.72%. Last week, U.S. markets were primarily focused on the Federal Reserve’s 25 basis point benchmark rate hike to a range of 3.75% to 4.00%, its first hike in over three and a half years. Meanwhile, long-dated Treasury Yields climbed higher over the weekend after briefly cooling following the Fed’s rate hike decision. The U.S. 10-year Treasury yield was trading at 5% at the time of writing, while the U.S. 30-year Treasury yield was trading at 5.328%. This week, the market is turning its attention to an important summit between the U.S. and China, where the leaders of both countries are expected to discuss tariffs, critical minerals, artificial intelligence and other economic issues. The U.S.-China trade truce is set to expire in early November. U.S. Treasury Secretary Scott Bessent is also expected to meet Chinese Vice Premier He Lifeng ahead of the visit. “Don’t expect too many fireworks, though, because the focus is likely to be an extension of the existing trade truce rather than anything groundbreaking,” Josh Gilbert, lead Asia Pacific analyst for eToro, wrote in a note, according to a Bloomberg report. Meanwhile, on the geopolitical front, conflict in the Middle East escalated over the weekend after Iran-backed Houthis said they had attacked Saudi Arabia with missiles and drones on Saturday. Additionally, Houthi advances along the coast have positioned the group near the Bab el-Mandeb Strait, strengthening its ability to influence shipping between the Red Sea and Asia and potentially disrupt or blockade the vital waterway. Meanwhile, the U.S. Central Command said in a post on X that oil and gas shipments through the Strait of Hormuz hit a six-month high over the weekend, with thousands of vessels safely passing through the critical waterway.

Dow, S&P 500, Nasdaq Futures Climb Ahead Of Key China Summit: CRML, APLD, GME, AMD Stocks In Focus
Asia
The Hindu BusinessLine

KFintech, APMI launch anti-money laundering platform

KFin Technologies and the Association of Portfolio Managers in India (APMI) launched InPro, an intelligent anti- money laundering (AML) and compliance operations platform. APMI has adopted InPro as the central AML compliance platform for its members, providing portfolio managers across the industry access to a common technology infrastructure for screening, reviewing and managing AML alerts. Through InPro, APMI members can access a unified platform that brings together AML screening, continuous monitoring, case management and audit trails within a single operating environment. The platform enables PMS providers to screen investor profiles against global sanctions lists, Indian debarment lists, PEP databases, regulatory watchlists and adverse media sources. Screening can be undertaken during onboarding and subsequently when key customer information or other relevant risk indicators change, according to a release. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

KFintech, APMI launch anti-money laundering platform
Europe
The Guardian

CNN, MS Now and Politico sue Trump after being blocked from White House

Donald Trump holds a news conference in the press briefing room of the White House on 6 April 2026. Photograph: Aaron Schwartz/CNP/Bloomberg via Getty ImagesView image in fullscreenDonald Trump holds a news conference in the press briefing room of the White House on 6 April 2026. Photograph: Aaron Schwartz/CNP/Bloomberg via Getty ImagesDonald TrumpCNN, MS Now and Politico sue Trump after being blocked from White HouseThree news outlets filed lawsuit in attempt to regain access to the White House after having badges disabled In what will be one of the largest battles yet between the press and Donald Trump’s administration, three news organizations – CNN, MS Now (formerly MSNBC) and Politico – that have been denied access to the White House have sued to regain their ability to enter the building, accusing the president of violating the US constitution. The suit was filed on Monday morning in the US district court for Washington DC. Journalists for the three news organizations were denied access to the White House and had their badges disabled on Saturday after the president decreed a day earlier that they would lose their ability to enter the building because of his concerns about their coverage. The parties are seeking a temporary restraining order that would immediately lift the ban – and return access for the journalists – while the case plays out. “This morning, we notified the government that we are filing a lawsuit today to protect our First Amendment rights and defend the principle that the government does not decide what the press reports or publishes,” the news organizations said in a statement, referring to the US constitutional amendment guaranteeing a free press. “Without notice or process, the White House revoked our journalists’ credentials because it objected to our reporting. Left unchallenged, this threatens press freedom and the public’s right to independent journalism free from government interference.” In their lawsuit and request for a temporary restraining order, the parties argue that because the White House has granted access to journalists, those privileges cannot be rescinded based purely on viewpoint considerations. Case law heavily favors the plaintiffs, including past legal challenges that successfully returned the press badges of journalists Jim Acosta – then of CNN – and Brian Karem, then of Playboy magazine, during Trump’s first presidency. “Defendants took these actions in express retaliation for Plaintiffs’ First Amendment-protected newsgathering and speech because they dislike that speech’s content and viewpoint, and for the express purpose of excluding journalists and news organizations with editorial viewpoints disfavored by the Trump administration from the White House grounds,” lawyers for the news organization wrote in a motion, further alleging that the news organizations were unfairly deprived an opportunity to contest the ban as required by the fifth amendment of the US constitution. Laying out the stakes of the ban, the plaintiffs wrote that “they have been suffering serious irreparable harm”, adding: “They have already lost opportunities to perform their constitutionally protected newsgathering and reporting functions at the White House, impairing their ability to speak and publish as members of the press – and they lose more such opportunities every day that the ban remains in effect.” Trump announced the ban late last week in a post on Truth Social, writing that it was “a result of their constant ‘reporting’ FAKE NEWS.” He added: “Media Outlets shouldn’t be able to constantly write or report FICTION and LIES when they’re covering the President of the United States, the Trump Administration, or the United States of America.” Citing Trump’s own words, the news organizations wrote in their lawsuit that “this ban could not be a more direct assault on the First Amendment nor a more blatant violation of our most fundamental constitutional principles.” While there was some uncertainty about whether Trump would follow through, it became clear that the ban was put into effect when journalists from MS Now and CNN attempted to access the building on Saturday morning but were told that their badges had been disabled and were taken.

CNN, MS Now and Politico sue Trump after being blocked from White House
Europe
The Guardian

JoAnn Fabrics fans seek to stitch void left by private equity with crafts co-op

People shop at a JoAnn Fabric as the store is set to close after filing for bankruptcy on 7 March 2025 in Paramus, New Jersey. Photograph: Michael Bocchieri/Getty ImagesView image in fullscreenPeople shop at a JoAnn Fabric as the store is set to close after filing for bankruptcy on 7 March 2025 in Paramus, New Jersey. Photograph: Michael Bocchieri/Getty ImagesBusinessJoAnn Fabrics fans seek to stitch void left by private equity with crafts co-opUS crafters are looking to build a communal network to replace the company after it was bankrupted by private equity investors in 2025 To its dedicated fans, JoAnn Fabrics wasn’t just a fabric store. It was a vital hub for small businesses – wedding dress makers, upholsters, milliners and rug repairers. It taught generations to make, fix and craft. A visit sparked new ideas in a way that shopping online just can’t replicate. Since it became one of hundreds of US companies bankrupted by private equity investors in 2025, it has been sorely missed. Its rise and fall, from a Cleveland, Ohio, store founded by German immigrants in the 1940s to the 800-store chain closed by Leonard Green & Partners, has been memorialized in videos and Halloween costumes. View image in fullscreenJoann Fabrics has been sorely missed since going out of business in 2025. Photograph: Michael Siluk/AlamyBut what was declared dead may not be gone forever. JoAnn’s dedicated followers are trying to figure out a way to bring the essence of the store back, minus the investors who gutted the company. “The ultimate big dream is to try to create an ecosystem that connects all of these people in the crafting world,” said Sandy McClenahan, 35, a legal assistant, hat maker and former tech industry relationship manager. “The model we’re investigating is how member-owned and/or worker-owned co-ops can help do that.” McClenahan published a survey last month suggesting a call to action: “A craft and fabric co-op, owned by us.” The post got hundreds of responses, including one person from every US state and 30 who wanted to be founding members. It wouldn’t be just about buying fabrics, McClenahan added. The goal is to preserve individually owned businesses and the skills owners have. “How can we create an ecosystem that helps all of these crafts stay afloat and not get eaten up by private equity?’” In an era of brutal private equity cost-cutting, ballooning corporate monopolies and shrinking consumer power, the notion of a communal movement replacing JoAnn, which earned more than $2bn in annual revenue in its last good years, may seem like a naive idea or an arcane curiosity. But businesses that prioritize users and workers’ over profits are not only deeply embedded in US history, they are growing and thriving as a reaction to the current state of US capitalism, cooperative specialists say. “People don’t want to feel that the economy is something that’s being done to them,” said Julie Bosland, the head of the Cooperative Development Foundation, a national non-profit. Like publicly traded companies, these entities invest and earn revenues, Bosland said, but they use that capital as a means to grow a business “that serves the members and the community”. Worker-backed cooperatives are growing particularly fast in the US, more than doubling from 315 firms in 2014 to 820 in 2024, in part because of drivers’ cooperatives, or driver-owned rideshare platforms. They join about 30,000 other US cooperatives, including brand names like REI, Ace Hardware and Land O’Lakes, as well as purchasing groups that dominate the farming business and credit unions for employees of corporate giants like Boeing.

JoAnn Fabrics fans seek to stitch void left by private equity with crafts co-op
Europe
BBC Business

X-planes: Are they needed in the new era of drones?

There's a weird and wonderful jet flying over the US. It has the nose of anteater, parts cannibalised from other planes and a cockpit so far back the pilot depends on a camera to see where he's going. The X-59's owes its eccentric design to the problem of sonic booms. The shockwave created by a jet breaking the sound barrier restricted Concorde to flights over the sea and barred it from lucrative routes across the US. Now Nasa is working around that problem using the X-59's elongated snout to flatten supersonic booms into tolerable bumps in the background. On top of its bizarre appearance the X-59 boasts a remarkable lineage. It's the latest in a series of experimental Nasa aircraft dating back to 1947 and the first plane to break the sound barrier, the Bell X-1. Peter Coen, a 43-year Nasa veteran who manages the programme, explains the thinking behind 80 years of X-planes. "Our approach is to pick small goals we aim to prove with flight data and we construct an airframe for that one task." The X-plane philosophy is to "minimise goals, the more goals you have the more expensive it gets." For the X-59 it's about suppressing sonic booms on a budget and nothing else. In the case of the X-1, flown through the sound barrier in 1947 by the legendary test pilot Chuck Yeager, Nasa knew a .50 calibre bullet travelled faster than the speed of sound. So the stumpy little aircraft was shaped like a bullet with wings added. A mere 20 years later the X-15 rocket plane, a cylinder with tiny wings dropped from a B-52 bomber, flew to 6.7 times the speed of sound (4,520 mph) and the edge of space, paving the way for heat-resistant materials vital to the Space Shuttle. Nasa is flying the X-59 in conjunction with community surveys to assess what people think when a supersonic boom is bent by the planes stretched nose and hushed up. "We want to figure out what level of boom is acceptable to people on a regular basis," says Coen, who reckons his machine will sound "like a car door being closed across the street" when it flies past Mach 1, around 660mph at airline cruising altitude. With its cockpit and ejector seat taken from a T-38 training jet, its landing gear from an F-16 fighter and engine courtesy of the F-18 this jigsaw of an aircraft was assembled by Lockheed Martin for Nasa. A camera feeding a screen in front of the pilot relies on instantaneous computer processing to get round the lack of forward vision. It first flew in 2025 and is now breaking the sound barrier over chosen US towns.

X-planes: Are they needed in the new era of drones?
Europe
BBC Business

Why Australia chose the world's biggest political stage to reveal OpenAI hack

Australia made a dramatic revelation on Wednesday during the United Nations General Assembly. Rogue AI agents had hacked one of its government bodies - the first known incident of its kind in the world. Private data, but not sensitive information, was taken from Medicare, Australia's universal healthcare scheme. The breach happened in June, but OpenAI says it only became aware of it in August - and then took until 10 September to alert Australia's government, by sending an email to an address used by researchers and academics to alert authorities to concerns of vulnerabilities. A middle power that doesn't usually get as much of a platform as its influential allies, the country wants to be seen as punching above its weight on one of the most defining issues of our time - big tech regulation. In the past year alone, it has implemented the world's strictest social media ban, announced what it says are the world's strongest algorithm controls, floated the possibility of "world-leading" limits on smart glasses, and is now the first government to confront AI firms over a rogue attack on its data. It's entirely possible other governments have been the victim of rogue AI agents. Former Australian government cybersecurity adviser Alastair MacGibbon told the BBC he'd heard whispers that several others have been notified of similar recent breaches by OpenAI agents. "Some have chosen to not be public – that's every government's choice on how it wants to handle these things," the CyberCX chief strategy officer said. "The [Australian] government chose a time to release this to gain maximum publicity which is their wont to do." Revealing a data breach can of course be a risky strategy for governments - it leaves them vulnerable to criticism that their security systems aren't up to scratch. But the fact that no sensitive information was leaked put Australia in a stronger position to use the incident. "Nobody has died," says the University of Queensland's associate professor Michael Noetel, who studies AI risks. "This is another canary in the coal mine. This sort of loss-of-control incident, even though it's minor now, is what CEOs are worried about getting worse over time." Though Australia has made a name for itself by taking a stand against social media companies, taking up the AI mantle now is another way for Australia to rein in big tech, says Tama Leaver, professor of internet studies at Curtin University in Perth. "It's impossible to say for sure, but it seems incredibly likely that this was very carefully planned."

Why Australia chose the world's biggest political stage to reveal OpenAI hack
Europe
BBC Business

US and China discuss AI safety plan ahead of Trump-Xi summit

Top US and Chinese officials have discussed creating a new "notification mechanism" for AI incidents that could affect national security, Treasury Secretary Scott Bessent told reporters on Sunday. Bessent made the comments after what he called "successful" talks with Chinese Vice Premier He Lifeng in New York. The meeting came as US President Donald Trump and his Chinese counterpart Xi Jinping are due to hold a summit in Washington later this week. AI has come under intense scrutiny in recent days after researchers warned of the potential risks posed by the technology and some of the industry's most high profile figures called for developers to take a more cautious approach. "We think that, just like with any cross-border activity, that moving from opaque to more transparency between the number one and the number two AI powers in the world is very important," Bessent told reporters after the talks. He said the meeting also covered other topics, including plans to "operationalise" a process to identify potential tariff cuts on goods called the Board of Trade. A truce in the tariffs war between the world's two biggest economies is due to expire on 10 November. Chinese state news agency Xinhua said the two sides had "candid, in-depth and constructive exchanges on key economic and trade issues", noting that they had discussed AI. Bessent said in a post on X on Sunday that the talks "help lay the groundwork for President Trump to advance America's economic interests and deliver results for the American people." The US and China are locked in a race to dominate the AI and technology industries. In recent days Washington has faced calls to slow down the development of AI over fears abouts its potential negative impact on humanity. Trump has largely dismissed those concerns, arguing that there are sufficient policies around AI and that the US cannot lose its edge to China.

US and China discuss AI safety plan ahead of Trump-Xi summit
Europe
BBC Business

Europe's car makers are in crisis. Will the threat of war rescue them?

BySimon Jack, Business editor and Theo Leggett, International Business CorrespondentIt's green, bulging and intimidating. Ford's latest vehicle looks like a pick-up truck that has been through an Incredible Hulk transformation. Based on its popular Ranger series, this beefy number parked outside the front door of Ford's Dagenham plant can carry a load of two tonnes, tow up to four tonnes and is also shouldering the hopes of the 2,000-strong workforce that still makes engines here. Inside the factory, the three-litre diesel engines that will power this camo-painted beast drift down a production line that has seen output cut from 90,000 engines a year to about half that over the last decade. Ford is hoping that a pivot towards military vehicles can help fill the void created by what the company's UK boss calls the most challenging environment since the invention of the motor car. Once mighty, the European car industry is starting to look puny and is hoping surging defence budgets as Europe re-arms can help it flex its industrial muscles once more. Ford is part of a joint venture with defence specialists General Dynamics and Ricardo bidding for a Ministry of Defence (MoD) contract to supply 9,000 vehicles over the next five to seven years to replace the Army's ageing Land Rover-based fleet. Lisa Brankin, chair of Ford UK, says it is a chance to showcase their abilities to respond quickly to defence needs: "As a manufacturer you look at every opportunity that comes at you and this is a great opportunity that we would love to take advantage of." Ahead of World War Two, Ford's factory in Dagenham, east London, was the largest car plant in Europe. When war broke out, civilian car assembly stopped completely, and the factory was converted entirely to military production. Between 1939 and 1945, the Dagenham plant built 360,000 vehicles for the Allied war effort. Ford workers in Manchester manufactured 34,000 Rolls-Royce-designed Merlin engines, which powered Spitfires and Hurricane fighter planes. Eighty years later, the UK and European car industries are hoping that the engines of war can help defend against what one supplier told the BBC was a "terminal decline". As Europe feels compelled to commit hundreds of billions to ramp up defence spending in the face of the menace from Russia and US reluctance to be Europe's protector, car makers that are under commercial attack from Chinese rivals have taken notice. So can the rearmament of Europe save an auto industry and a supply chain facing crisis? Ford is far from the only car company that sees defence as a growth industry - and one that can utilise the growing overcapacity at car plants across Europe.

Europe's car makers are in crisis. Will the threat of war rescue them?
Asia
The Hindu BusinessLine

Iran-linked diesel spike makes electric trucks cheaper in key EU markets, says T&E

A surge in diesel prices linked to this year’s Iran conflict has helped make electric trucks cheaper to own and operate than diesel models in six major European Union markets, which account for almost half of the bloc’s new truck sales, according to an analysis by Brussels-based environmental advocacy group Transport & Environment. The report, published on Monday, found that electric trucks purchased in 2026 generate savings over five years of up to €100,000 ($113,910) in the Netherlands, €85,000 in Germany and €69,000 in Denmark compared with diesel vehicles. In those markets, operators can recoup the initial price premium in around two years. T&E said rising diesel prices following this year’s Iran-linked oil price spike strengthened the business case for electrification. Europe’s electric truck transition has been slowed by high purchase prices and patchy charging infrastructure. The report examined total cost of ownership in nine EU countries. It found that electric trucks were already cheaper to operate than diesel models in the Netherlands, Germany, Denmark, Sweden, France and Belgium, markets accounting for 46 per cent of EU heavy-truck registrations. Reuters reported earlier this year that European truckmakers such as Daimler Truck, Volvo Group and Traton’s Scania were bracing for a wave of lower-cost Chinese competitors, with some Chinese electric trucks expected to be priced about 30 per cent below comparable European models. T&E estimated a Chinese-built electric truck costs about €210,000, versus €265,000 for a European equivalent. In Germany, operators could save an additional €34,000 over five years by choosing a Chinese-made electric truck. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Iran-linked diesel spike makes electric trucks cheaper in key EU markets, says T&E