Latest Developments

Asia-Pacific
The Straits Times

Nvidia’s valuation sparks tech rally but S’pore companies lose out: Markets this week

In this column, ST’s business correspondents unpack the latest developments in Singapore and global markets during the week – and explain what they mean for investors. SINGAPORE – If there were any mounting fears of an AI bubble, they were put to rest by Nvidia this week, as robust AI demand saw the chipmaker’s market value balloon by another US$442 billion (S$564 billion). The chipmaker’s shares surged 8.7 per cent on Aug 27, producing the second-largest single-day increase in market value by any company on record.

Nvidia’s valuation sparks tech rally but S’pore companies lose out: Markets this week
Europe
BBC Business

Musk's rocket firm SpaceX to build $100bn launch facility

Multi-billionaire Elon Musk's rocket company SpaceX has announced that it will build its largest launch site yet in the southern US state of Louisiana. Construction of the $100bn (£73bn) project - named Starbase, Louisiana - is due to start next year, with the 125,000-acre (50,585-hectare) site expanding on the company's operations beyond its current Texas headquarters and locations in Florida. It will be used to "support thousands of Starship flights a year with missions launching to Earth orbit, the Moon, Mars and beyond," SpaceX said on Tuesday. In June, SpaceX shares started trading on New York's technology-focused Nasdaq in the world's biggest ever stock market debut. SpaceX said it aims to launch its first Starship flight from the new Louisiana base in 2029. The facility will add more than 3,000 jobs to the region, the company said, external. The Louisiana Economic Development agency said the average wage of workers at the base - the largest of its kind in the world - would be 192% more than the region's current average salary. "The historic project will establish Louisiana as a global hub for next-generation aerospace, with the capacity and infrastructure needed to dramatically increase launch frequency and expand access to space," it added. The facility in Louisiana will share its name with another SpaceX site on the southern tip of Texas. In 2025, residents in an area of Cameron County, where the company has testing and development operations, approved incorporating the patch of land as a city called Starbase. Musk has set out ambitious goals for SpaceX, including plans to reach Mars, develop artificial intelligence (AI) models and launch data centres into space. In August, SpaceX and Tesla - Musk's electric vehicle and robotics firm - announced plans to build a $16.8bn artificial intelligence (AI) chip making complex in Texas called the Terafab.

Musk's rocket firm SpaceX to build $100bn launch facility
North America
Yahoo Finance

When will AI begin delivering meaningful earnings gains? Goldman Sachs assesses the outlook

Second-quarter earnings across the S&P 500 were robust, with companies tied to artificial intelligence infrastructure continuing to account for a substantial portion of overall profit growth. S&P 500 earnings per share increased 31% from a year earlier during the quarter when excluding one-off income related to private investment holdings. AI infrastructure companies, including hyperscalers, generated approximately half of that increase, with earnings among the group climbing 54% year-over-year. Strength was not confined to AI-related businesses. Excluding the energy sector, which received a boost from higher oil prices, the median S&P 500 company recorded earnings growth of 14% compared with the same period last year. However, Goldman Sachs strategists led by Ben Snider said evidence that corporate adoption of AI is translating directly into earnings improvements remains limited. Only 11% of S&P 500 companies quantified productivity benefits from AI for a specific business application during their earnings calls, such as software coding or customer support. Just 2% put a figure on AI’s direct contribution to earnings, unchanged from the first quarter. Goldman’s analysis also found little difference in earnings performance between companies reporting measurable AI productivity improvements and those that did not. “Q2 results showed a small and statistically insignificant difference in earnings growth between the companies quantifying AI productivity gains this quarter and other S&P 500 companies,” the strategists wrote. Goldman nevertheless expects the financial impact of AI adoption to become clearer as corporate spending increases. Data from the Ramp AI Index shows that monthly AI expenditure per employee at the median company rose from $5 in January to $12 in July. Among companies in the top decile for spending, the figure surged from $240 per employee per month at the beginning of the year to $650 by July. Despite that rapid increase, AI inference expenses remain relatively modest, with Goldman estimating they represent less than 0.5% of S&P 500 revenues. Around two-thirds of companies are financing AI investment by shifting money from existing budgets rather than adding entirely new spending, according to Goldman’s IT Spending Survey. Software is the most common source of redirected funds at 18%, followed by labour at 11%. Evidence that AI is broadly displacing traditional software spending also remains limited. Some businesses, including Starbucks, are developing proprietary AI systems to replace third-party software, but software industry revenue growth has actually accelerated modestly in recent quarters. Software shares have also recovered from earlier declines. Goldman believes this lack of clarity is reflected in how investors are positioning themselves. Markets have favoured AI infrastructure companies where the earnings benefits are already visible and relatively near term, while remaining more cautious about trying to identify which businesses will ultimately secure the largest productivity and profit gains from wider AI adoption. Join the discussion: Connect with other investors on your favorite stocks or explore the top-talked-about stocks on our Breakout Boards.This article was written by the editorial team at InvestorsHub/ADVFN and is provided for informational purposes only. In some cases, editorial staff may use artificial intelligence–based tools to assist in the research, drafting, or editing of content, under human review and oversight. This article does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. The views expressed are based on publicly available information believed to be reliable at the time of publication, but accuracy or completeness is not guaranteed. Readers should conduct their own independent research and consult a qualified financial professional before making any investment decisions. It looks like you are not logged in. Click the button below to log in and keep track of your recent history.

When will AI begin delivering meaningful earnings gains? Goldman Sachs assesses the outlook
Europe
BBC Business

Iran-linked hackers behind cyber attack that shut down power plant, reports say

Image source, Getty ImagesByTom SymondsNews correspondentPublished9 hours agoA small power plant in the UK was shut down during a cyber attack. The government said that at no point was there a risk to the UK's energy system, but the Department for Energy Security and Net Zero (DESNZ) has contacted power companies to advise them about the risk of cyber attacks. The Telegraph reported, external that the attack, which took place last month, was carried out by hackers affiliated to the Iranian regime. For security reasons, neither the government nor the National Cyber Security Centre, which deals with attacks on critical infrastructure, would give further details of the site affected. However this was not an attack on an essential service such as a large power station. DESNZ said the incident had affected a small-scale generator and at no point had there been a risk to the wider energy system. The UK's power network has a number of smaller gas generators which provide short-term power when needed. Protecting the country's supplies is a key challenge for the government. It is updating its regulations for cyber security, and working on a new energy resilience strategy for later this year. Iran has long been regarded as a capable cyber power but while the Western cyber-security world is braced for attacks either from the state or hackers linked to the state as a result of its conflict with the US this year, there has been little activity so far.

Iran-linked hackers behind cyber attack that shut down power plant, reports say
Europe
BBC Business

Firms scramble for battery power in Spain and Portugal

A massive power failure caused widespread chaos. People dug out lanterns and old radios, and companies scrambled to save what production they could. The Spanish meat processing firm Fribin, in Binéfar, in the north eastern province of Aragon, was midway through its morning shift when the sudden shutdown brought production lines to a halt. For Andrés Altabás, Fribin's technology and systems director, it was a nightmarish situation. Emergency systems didn't have the capacity for continued operation. "Refrigeration was prioritised but all the lines had to be stopped," he adds. Many tonnes of meat in the processing stage had to be discarded. "There were losses of hundreds of thousands of euros," says Altabás. It was a big undertaking as the company's energy needs are "quite large", amounting to more than 25 gigawatt-hours a year, most of it for refrigeration. The business had been considering investing in a battery back-up system for years, but it had been judged too expensive. "And then came the blackout, and all of that together catalysed the investment," Altabás tells the BBC. The first purchase of a five megawatt-hour module was made in June 2025, and a second module with the same storage capacity was ordered in early June 2026, both amounting to a total investment of around €1.5m (£1.3m; $1.7m), funded in part by the European Union's Next Generation funds. Firms across Europe have been switching to electricity from fossil fuels for their industrial needs, encouraged by subsidies from EU funds. While that is helping bring down emissions of climate-warming gases, it has also made firms more vulnerable to power cuts. "The industrial sector has been one of the first to look at storage systems, since it can't have its production drop off too abruptly," says Miguel Matias, founder of the Portuguese energy services company Self Energy, headquartered in the UK.

Firms scramble for battery power in Spain and Portugal
Asia
The Hindu BusinessLine

KFintech launches ARYA, an AI platform for end-to-end MF transactions

A key architectural choice sets ARYA apart from competing AI-powered finance tools: transaction compliance is handled entirely by deterministic software. | Photo Credit: - KFin Technologies Limited on Wednesday unveiled detailed specifications for ARYA, its conversational AI platform designed to execute mutual fund transactions directly through natural language, marking a significant shift from chatbot-style information tools to a fully transactional investor servicing system. The Hyderabad-based registrar and transfer agent (RTA) said ARYA allows investors to move from portfolio inquiry to transaction execution within a single conversation, covering lump-sum purchases and SIP registrations currently in live testing. Redemption, fund switching, Systematic Transfer Plans, and Systematic Withdrawal Plans are on the near-term roadmap. A key architectural choice sets ARYA apart from competing AI-powered finance tools: transaction compliance is handled entirely by deterministic software, not by the underlying language model. Every transaction triggers mandatory OTP-based identity verification, PAN masking, and automated eligibility checks before hitting KFintech’s system of record. The company’s self-hosted Small Language Models run exclusively within KFintech-controlled infrastructure in India, addressing Digital Personal Data Protection (DPDP) data-residency requirements with no third-party AI cloud in the serving path. In proof-of-concept testing completed in July 2026 with leading asset managers, ARYA recorded approximately 90 per cent fact accuracy, sub-second retrieval latency at p95 of 0.7 seconds, an 80x improvement over initial builds, and a 100 per cent refusal rate on out-of-scope queries, with zero hallucinated answers. ARYA is scheduled for its public debut at the Global Fintech Fest on September 10, 2026, at the Jio World Convention Centre, Mumbai, as an invite-only platform at arya.kfintech.com. Broader rollout to distributors via KFintech’s IRIS portal and to retail investors through KFin Investor Portal is planned for October 2026. KFintech’s stock closed at ₹929.00 on the NSE on Wednesday, down 0.91 per cent. The stock has declined roughly 12 per cent over the past year and trades at a trailing P/E of 47.43, with a total market capitalisation of approximately ₹16,060 crore. 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 launches ARYA, an AI platform for end-to-end MF transactions
Asia
The Hindu BusinessLine

Piccadily’s Indian rum Camikara wins multiple international awards, puts India on global spirits map

Piccadily Agro Industries Limited, the publicly listed parent company, also markets Indri Single Malt and Cashmir Vodka. Camikara, India’s first pure cane juice aged rum, as the company states, made by Piccadily Distilleries, has swept multiple international competitions, winning Silver medals for its 3YO, 8YO and 12YO expressions at the International Spirits Challenge 2026 (ISC) in the UK, one of the world’s leading spirits competitions. The brand competed directly against established rum producers with generations of heritage. At the SIP Awards in California, Camikara delivered an even stronger result in its debut participation. The Camikara 8YO was awarded Best in Class, Platinum, the highest recognition in the Rum Aged/Rhum Agricole Aged category. The 3YO secured a Gold medal. Both expressions also received the Innovation Award, independently given by a judging panel following blind tasting to spirits demonstrating a distinctive and original taste profile. Camikara is produced from 100 per cent pure sugarcane juice, not molasses, following the traditional rhum agricole method, and is aged in oak casks without additives. The portfolio spans three expressions: 3YO, 8YO and 12YO. The awards come at a time when India’s domestic spirits industry faces rising regulatory scrutiny. Shalini Sharma, Head of Marketing at Piccadily Distilleries, said the brand was built to represent India globally rather than replicate existing rum traditions. Piccadily Agro Industries Limited, the publicly listed parent company, also markets Indri Single Malt and Cashmir Vodka. The company had earlier been recognised as India’s fastest-growing single malt whisky brand in 2024. Shares of PAIL closed at ₹622.25 on Wednesday, down 1.85 per cent, with a market capitalisation of approximately ₹6,121 crore. 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.

Piccadily’s Indian rum Camikara wins multiple international awards, puts India on global spirits map
Europe
The Guardian

Bill Gates calls for ‘human-reserved’ jobs in face of AI takeover

Bill Gates wrote ‘it is fair to wonder whether the world’s institutions are up to the task of designing and implementing this new architecture’. Photograph: Denis Balibouse/ReutersView image in fullscreenBill Gates wrote ‘it is fair to wonder whether the world’s institutions are up to the task of designing and implementing this new architecture’. Photograph: Denis Balibouse/ReutersAI (artificial intelligence)Bill Gates calls for ‘human-reserved’ jobs in face of AI takeoverIn 6,000-word essay Microsoft co-founder also expresses concern governments not prepared for technology’s impact Bill Gates has called for “human-reserved” jobs in certain sectors to prevent AI replacing them, and expressed concern that governments are not prepared for the impact the technology will have. In a 6,000 word essay titled The turbulent AI era is here. The choices we make are critical, the billionaire Microsoft co-founder likened the need to spare roles from digital encroachment to how nature reserves operate to protect the environment. “Many jobs will disappear forever,” he said, in his first lengthy piece on AI in three years. “I believe that as AI and robots improve, we’ll set aside certain things for only people to do. “I’ve started calling this domain human reserved. I like the phrase human reserved because it makes me think of nature reserves – places where we could put buildings and roads, but we choose not to because the loss would be too great.” He cited examples including the health professionals who cared for his father, who died of Alzheimer’s disease six years ago. “Something in the care they gave my dad was irreplaceably human, no robot could or should have done it,” he said. “Imagine a robot giving you the awful news that you have an incurable disease. There’s no technical reason why it couldn’t. Yet it shouldn’t.” Wednesday’s essay is one of Gates’s first major public interventions since he became embroiled in the Jeffrey Epstein scandal. An external review commissioned by the Gates Foundation found last month that there had been about 30 meetings between Epstein and foundation leaders and staff – including Gates – between 2011 and 2014. Gates, who has not been accused of involvement in Epstein’s crimes, remains the chair of his $89bn (£65bn) charitable foundation and previously said he regretted “every minute” he spent with the sex offender. Gates warns in his essay that governments are not prepared for the scale of the impact of AI. “The highest priority is a monumental task: creating a domestic and international framework for dealing with AI,” he wrote. “After the attacks of 9/11 the US government went through its biggest reorganisation since World War II for the purpose of improving just one function, national security. “AI will require much, much more. It will affect national security as well as employment, education, taxation, energy, elections, air and water, public health, the financial system, law enforcement, transportation, public lands and IT systems.

Bill Gates calls for ‘human-reserved’ jobs in face of AI takeover
North America
Yahoo Finance

The Idiot’s Guide to Stocks

Learning about the stock market can be intimidating. There are so many terms, like dividends, capital gains, market corrections, and compound returns. Though people throw around these terms as though they were born knowing what they mean, the basics of the stock market have to be taught. Luckily, when approached slowly, stock investing is much easier to understand than it initially seems. Here are the basics. A stock represents a small ownership interest in a company. When you buy shares of a publicly traded company, you become one of its (generally thousands or millions of) shareholders. Obviously, owning a few shares doesn’t mean you get a seat at the boardroom table, but you do technically own a teeny tiny piece of the business. There are two basic ways investors can make money from stocks. The first is through price appreciation. If you buy a stock for $50 and eventually sell it for $70, you’ve made $20 per share before taxes or fees. That $20 profit is called a capital gain. The second way of profiting is through dividends. Some companies give a portion of their earnings to shareholders. Not every company pays dividends. Returns can include both changes in the stock’s price and any dividends you receive. The stock market is essentially a giant marketplace where investors buy and sell shares in companies, so long as they’re publicly traded. Instead of walking all the way to Wall Street, most investors now sell and buy electronically through brokerage accounts. Prices are always in a state of fluctuation as buyers and sellers are continually changing what they’re willing to pay for shares. There isn’t one single reason. High or low profits, popular new products (or lack thereof), economic conditions, and expectations about the future can all influence a company’s share price. There are also countless other factors that can contribute. Sometimes just excitement alone can push a stock higher for a bit of time. If investors collectively think a particular company is going to be extremely successful, demand for its shares can go up fast. But following the crowd can be risky, since popularity doesn’t always mean a stock is worth its price. Compounding is one of the biggest reasons people invest over long periods of time. It can be very powerful. This works when your investments generate returns, and those gains remain invested, generating additional returns of their own. Compounding doesn’t look too impressive over a few months. Over decades, however, the difference can be massive. That’s why long-term investing isn’t about finding one magical stock. Time, diversification (spreading your money across many investments), regular contributions, and patience are an effective combination and can be much more important than one fantastic stock. Buying individual stocks isn’t the only way to invest in the stock market. Funds allow investors to buy small pieces of several companies at the same time. An index fund follows a particular market index, like the S&P 500, instead of requiring you to pick individual companies. This is a good way to spread your money across hundreds or even thousands of companies with a single investment. For beginners, understanding funds is important because investing in the stock market doesn’t always mean choosing individual stocks.

The Idiot’s Guide to Stocks