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Asia-Pacific
Channel NewsAsia

Indian media groups decry Modi’s privacy law in court, say newsrooms face shutdown risk

NEW DELHI: The Indian government's privacy law, which would require journalists to seek consent from people they write about, amounted to pre-censorship and could lead to newsrooms shutting down, media groups told the Supreme Court on Tuesday (Oct 27), starting the most high-profile challenge against the legislation. The lawsuit comes amid accusations of declining press freedom in India since Prime Minister Narendra Modi took office in 2014. Critics say many mainstream media outlets have not done enough to scrutinise Modi’s government, which has denied such allegations and says it respects press freedom. A group of 21 news publishers, including companies owned by billionaires Mukesh Ambani and Gautam Adani, has challenged the privacy law, arguing it would trample upon investigative work and allow New Delhi to identify journalists' sources, Reuters reported on Monday. "It is changing the whole concept of what is news," Madhavi Goradia Divan, the lawyer for Digital News Publishers Association (DNPA) told the judges. CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less "Newsrooms will shut down, if we have to ask for permission ... it's then a complete regime of pre-censorship." The lawsuit is the most high-profile challenge to Modi’s privacy law. Until now, only free speech activists ⁠and a group of smaller news outlets had challenged it. Media companies received assurances in an August meeting with the government that the law would protect press freedom, but not having a written carve-out for journalists like in the European Union, Singapore and Britain was alarming, the news publishers said in a filing earlier this month. The publishers are demanding that most of the law's contentious provisions, which kick in from May 2027, should be quashed. They say the law could also force publishers to erase stories and give powers to the government to demand information from publishers that could expose reporters' sources. DNPA, the group which has challenged Modi's government, counts as members Ambani's Network18, Adani's NDTV and other marquee media groups including the Indian Express and Times Internet, which is part of the Times of India group, publisher of India's largest-selling English-language daily. Divan said during the hearing that earlier versions of the law excluded journalists, but the final one did not.

Indian media groups decry Modi’s privacy law in court, say newsrooms face shutdown risk
Asia
The Economic Times

RBI accepts 20 bps higher treasury bill cutoff yields than last auction

The 91-day cutoff yield came in at 5.93%, while the 182-day cutoff yield was at 6.54%. Indian government bonds faced volatility as oil price hikes raised inflation concerns and affected market sentiment. The 6.94% 2036 bond yield fluctuated but ended slightly unchanged as traders reacted to market conditions. Elevated crude prices have increased worries about inflation, a wider fiscal deficit, and slower economic growth for India. The rupee weakened further against the dollar, prompting fears of aggressive policy tightening by the Reserve Bank of India. KYC and KYB: Inside Damani’s DMart, the retail chain for the middle class. And stock for the long term? – Part 2 of 3 Will oil turn into a lingering problem? Is the world economy, India, or the market prepared?

RBI accepts 20 bps higher treasury bill cutoff yields than last auction
Asia
The Hindu BusinessLine

Coal India’s supply to power sector in October records all-time high, grows 19%

State-run coal behemoth Coal India on Sunday said its supply to the power sector in October grew around 19 per cent year-on-year to 57.1 million tonnes (MT), recording its highest-ever monthly coal supplies to the sector. The company, the single largest coal producer in the world, had supplied 48 MT of coal to the power sector in October last year. Its supplies to the sector crossed the 57 MT mark for the first time in the company’s history, demonstrating CIL’s enhanced capacity to respond to the requirements of thermal power plants, the company said in a statement. Earlier, the monthly high of 56.5 MT was recorded in May 2024. “The achievement assumes greater significance in view of the need to augment coal stocks at thermal power plants amid rising power demand, while disruptions caused by unseasonal rainfall, the Puja festivities and impact of a cyclone-posed challenges to the operational performance,” Coal India said. Significantly, last week nearly half of domestic coal-based (DCB) power plants had critically-low coal stocks, highlighting supply-side pressures amid sustained electricity demand. Of the 176 DCB power plants, with a combined installed capacity of around 207 GW, 85 had critical coal stocks as of October 25. CIL recorded the highest-ever monthly coal supplies to the power sector last month backed by the company’s highest-ever levels of coal production for the month of October in any financial year, reflecting a sharp acceleration in mining activity following the monsoon season. The company’s coal production in October FY27 reached 67.2 MT, growing 19.3 per cent y-o-y and setting the new record for the month. The previous October high of 62.47 MT was recorded in October 2024. According to a stock exchange filing, all the coal-producing subsidiaries of Coal India, except Northern Coalfields (NCL), recorded a strong growth in production last month. NCL’s output in October 2026 fell 4.3 per cent y-o-y at 11.4 MT. Among CIL’s seven coal-producing subsidiaries, Mahanadi Coalfields (MCL) and South Eastern Coalfields (SECL), the largest two in terms of outputs, posted 25.34 per cent and 17.4 per cent y-o-y growth in production at 20.8 MT and 14.3 MT, respectively, for the month. In the month of October 2026, total coal offtake for the company stood at 70.3 MT, posting a growth of 18.7 per cent y-o-y. In the statement, the miner said its monthly coal supplies crossed the 70 MT mark for the first time, surpassing the previous monthly record of 69.4 MT achieved in March 2026. MCL crossed the 20 MT monthly supply mark for the first time in October, contributing significantly to this landmark achievement. CIL had first reached the 60 MT monthly supply mark in March 2021, and supplies had hovered between 60-69 MT since then. “With both coal production and offtake gaining momentum, we are on the cusp of seeing stock accretion, both at power plant ends and at pit head,” a senior Coal India official said. CIL reported strong demand in its e-auction sales for October 2026, allocating 91 per cent of the 129.24 lakh tonnes coal offered under the single-window mode-agnostic (SWMA) route. It allocated 118 lakh tonnes during the month. Its e-auction premium rose to 140 per cent over notified prices. The coal behemoth said it achieved another historic milestone in railway coal evacuation, with the company recording an average power-sector rake loading of 310 rakes per day during October FY27, the highest-ever monthly average in the company’s history. The 300-rake-per-day mark was last surpassed in March, 2025, when the average loading stood at 302.8 rakes per day. “What is more remarkable about these achievements is that the previous supply and railway rake records corresponding to the month of March, which happens to be the peak performance month of any fiscal, are being surpassed in the month of October,” the official added.

Coal India’s supply to power sector in October records all-time high, grows 19%
North America
Yahoo Finance

Outside Big Tech, Tuesday's Earnings Winners Jumped as Much as 11%

Stock Preachers News Commentary - Tuesday's session showed how quickly market leadership can change hands. The Dow Jones Industrial Average climbed 529.85 points, or 1.02%, to 52,495.88, and the small-cap Russell 2000 rose 1.65%, while the Nasdaq Composite slipped 0.02% to 26,424.82 and the S&P 500 added 0.28% to 7,712.57. Some of the day's sharpest moves came from third-quarter reports at companies well outside the megacap technology names: a credit data company, a toy and game maker, an indust

Outside Big Tech, Tuesday's Earnings Winners Jumped as Much as 11%
Asia-Pacific
The Straits Times

Bond market is a buy right now, J.P. Morgan Asset Management’s fixed income head says

J.P. Morgan Asset Management’s head of global fixed income Bob Michele believes There is a “generational amount of yield” in bond markets. SINGAPORE – There is a “generational amount of yield” in bond markets and it is time to buy debt, with a return of as much as 8% on offer in the US over the next the year, Bob Michele, J.P. Morgan Asset Management’s head of global fixed income, said on Oct 27. The bond market has rebounded following a sell-off in October and September, especially in developed-market sovereign debt. “We expect both the Fed funds rate and the Treasury curve to converge (around 4.5%),” Michele told reporters in Singapore. “Generally at the end of a hiking cycle the yield curve is flat... so there’s plenty of room for yields to run from where they are.” Carry and price appreciation are likely to deliver a return in the US market of 7% to 8% over the next 12 months, he added. US 10-year yields were around 4.99% on Oct 27 having spent much of the past few weeks above 5%. Investors expect the Fed funds rate window to stay at 3.75% to 4% when the Federal Reserve announces its interest rate decision on Oct 28. “There is yield all over the place,” said Michele. “When we looked at the Treasury curve a few weeks ago when it first went above 5%, to us the buy signal was real yield in the US that got to 3%. The last time we saw that was 2002. So at close to 25 years, that’s a buying opportunity.” Japan, Australia, investment-grade credit and emerging market sovereign debt are among the stronger picks, he said. “Everyone senses there’s a generational amount of yield in bond markets,” he said. “It’s pretty clear with the global capex cycle out there, recession is a very low probability. That means every back-up in credit spread (you) should buy.” The “tail risk,” he said, was the Fed needing to hike much further than 4.5% to contain inflation. REUTERS

Bond market is a buy right now, J.P. Morgan Asset Management’s fixed income head says
Asia-Pacific
The Straits Times

Bank of Korea warns country’s chip exports could fall by up to US$100 billion if AI spending slows

The assessment underscores growing anxiety over South Korea’s heavy reliance on chips, which account for roughly half of its exports. SEOUL - South Korea’s semiconductor exports could fall by US$50 billion to US$100 billion compared with earlier forecasts if capital spending on artificial intelligence by major US technology firms slows in 2027, according to central bank data. In a written response submitted to lawmaker Ahn Do-geol, the Bank of Korea (BOK) modelled a “pessimistic scenario” to assess the economic fallout if US tech giants curb their aggressive infrastructure outlays. Under the scenario, a sudden export shortfall would shave approximately 0.4 percentage point off South Korea’s gross domestic product (GDP) growth rate in 2027, by driving the country’s current account surplus well below the central bank’s initial projection of US$430 billion for 2027. The assessment underscores growing anxiety over South Korea’s heavy reliance on chips, which account for roughly half of its exports. The report said combined capital expenditure by five major US technology firms, Amazon, Google, Microsoft, Meta, and Oracle, has been growing rapidly, from US$40 billion in 2025 to an estimated US$80 billion in 2026, and is projected to reach US$110 billion in 2027. However, the BOK cautioned that considerable uncertainty remains over the trajectory of AI demand and the broader memory chip business cycle. REUTERS

Bank of Korea warns country’s chip exports could fall by up to US$100 billion if AI spending slows
North America
CNBC Finance

GM aims to develop vehicles in as little as two years with AI, software push

NEW YORK — General Motors plans to lean into artificial intelligence and vehicle software for future growth and development amid increasing competition abroad from Chinese automakers and a tougher U.S. market. The Detroit automaker on Wednesday shared new details about a proprietary AI agent it's releasing under its OnStar brand, plans for a fourth generation of more efficient all-electric vehicles and a target to cut its vehicle development time in half. GM also reconfirmed that by 2028, it wants to have eyes-off highway driving, or "personal autonomy," that will let drivers take their attention off the road. The automaker said that technology would start with the Cadillac Escalade IQ EV before rolling out to other, more high-volume models. "All of these developments are building us the car of the future," CEO Mary Barra said Wednesday during an event laying out the plans, called "GM Forward," in downtown Manhattan. The initiatives, which Barra, Chief Product Officer Sterling Anderson and other executives discussed at the event, are designed to streamline the automaker's operations, while also improving the capabilities of its vehicles for customers. "Over the last 12 months, we've evolved how we design, engineer and build our vehicles," said Anderson, who led the event and who has been tasked with overseeing GM's latest technology transformation. GM said it is now targeting a vehicle development time of roughly two years from concept to production versus a traditional four- to five-year cycle. However, the company did not detail a timeline for reaching that goal. The event comes as Chinese automakers are growing outside of the U.S. with rapid development times of new technologies and vehicles. Consulting firm AlixPartners said it believes China is currently bringing vehicles to market twice as fast as traditional automakers, with 40% to 50% less investment and a 30% cost advantage. GM also continues to play catch-up to U.S. EV leader Tesla when it comes to delivering technology advancements through over-the-air updates and automated driving capabilities. Anderson, a former Tesla executive, declined to speak specifically about how GM's technologies will compare to the EV maker, but said GM's systems will be able to visualize, or see, more things through the use of multiple types of sensors than a strictly camera-based system, which Tesla uses. He also said the rapid development and new software architecture will help the company better compete against Chinese automakers abroad. "There's inherent virtue to speed," Anderson told CNBC during an interview after the event. "Not just in being able to get a car out faster, it's being able to develop a system that's far more performant that you could have otherwise."

GM aims to develop vehicles in as little as two years with AI, software push
Europe
BBC Business

Will a new code end 'rip-off parking charges'?

"I was completely on edge, every single day," said Rosey Greenwood. "I had letters coming through - I had debt collectors after me." Two years ago, Rosey was being told to pay £1,906 because she had taken too long to pay for parking. Rosey had paid every single time she parked at the Copeland Street car park in Derby, and had bank records to prove it. But Rosey had unknowingly broken the car park's terms and conditions, which stipulated that drivers must pay within five minutes of entering. Rosey could not afford to pay £1,906 - she was due to get married and also saving up to buy her first home. As she prepared to fight the case in court, her fiance emailed the BBC and asked us to "shed some light" on what was happening. The case was then raised in Parliament, external by Derby North MP Catherine Atkinson, who described the charges - which had caught out countless other motorists - as a "five-minute rip-off charge". The parking sector subsequently banned the five-minute payment rule by updating its code of practice, external, but the government is going further by bringing in a statutory Private Parking Code of Practice. "These charges leave people feeling ripped off and out of pocket, so I'm putting a stop to them," Prime Minister Andy Burnham said, external on Monday. The government's new Private Parking Code of Practice was laid out in Parliament on Tuesday. Housing and communities minister Florence Eshalomi said, external the new code "will give drivers a range of rights and protections to make these unfair practices a thing of the past". The code is now subject to a 40-day period of parliamentary scrutiny, during which MPs and peers can object before it is formally issued. In places, the code appears to be very similar to the private parking sector's existing code of practice, external.

Will a new code end 'rip-off parking charges'?
Asia-Pacific
Channel NewsAsia

South Korea's economy grows faster than expected in third quarter

Workers clean the exterior of a building in Seoul, South Korea, on Jun 10, 2025. (File photo: Reuters/Kim Hong-Ji) SEOUL: South Korea's economy grew faster than expected in the third quarter as a global AI chip boom boosted exports and investments, advance central bank estimates showed on Tuesday (Oct 27), though domestic demand remained weak. Gross domestic product expanded 1.0 per cent in the July-September quarter from the preceding three months, when it grew 0.6 per cent. It was stronger than a median 0.7 per cent increase tipped in a Reuters poll of economists. It was also higher than the Bank of Korea's forecast of 0.3 per cent in August, when the central bank projected this year's growth at 3.3 per cent. The economy is now seen growing 3.7 per cent this year, if GDP in the fourth quarter stays at the same level as the third quarter. "It is estimated that about half of economic growth is being driven by semiconductors," Lee Dong-won, director general of the Bank of Korea's economic statistics department, told a briefing. CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less Exports and investments are expected to remain robust in the fourth quarter, Lee said, adding that chip production volume will expand further next year while prices will continue to grow but at a slower pace. Private consumption, which fell for the first time in nearly four years in the third quarter, will likely recover gradually, as dividend payouts by chip firms to their shareholders in the fourth quarter and bonus payments to employees in the first quarter of 2027 boost household income, Lee said. Amid the global boom in AI investment, South Korea's exports topped US$800 billion in January to September, higher than last year's full-year record, and are on track to exceed US$1 trillion this year, which will make South Korea the fourth country to reach the milestone, after the US, China and Germany. The Bank of Korea kept interest rates unchanged last week, after back-to-back hikes in July and September, but maintained a hawkish stance by upgrading its economic growth forecasts and remaining upbeat about the country's export momentum. "Exports and investments are leading growth, but the downside is that private consumption remains weak compared with the overall growth momentum," said Park Sang-hyun, an economist at iM Securities. "There could be short-term boosts, but it is difficult to expect strong momentum given labour market conditions and restrictive interest rates," Park said. In a separate central bank survey released on Thursday, consumer sentiment fell slightly in October, as the outlook for household income and consumer spending weakened.

South Korea's economy grows faster than expected in third quarter