Latest Developments

North America
CNBC Finance

Kimmel says interview with Senate candidate Talarico won't air on ABC amid FCC threats

Jimmy Kimmel, the late-night talk show host with Disney-owned ABC, is taking some precautions in the face of scrutiny by the Federal Communications Commission. Kimmel said on Wednesday night that he will not air an interview with Democratic U.S. Senate candidate James Talarico on national television. The interview will air on YouTube on Thursday instead. "For some reason, and I can't seem to figure out what that reason is, something has changed," Kimmel said during his Wednesday night broadcast. "Now that [Trump] is president, his FCC has threatened me, threatened our show, threatened our network, ABC, our affiliates, our local stations, based on simple, traditional editorial decisions." He added that the decision not to broadcast the interview on TV is "out of consideration" for ABC affiliates who he said would have to "deal with this nonsense" of FCC scrutiny. "In the America we live in right now, that is the best we can do, until November, of course," Kimmel said. Talarico, a Texas state representative, is locked in a tight Senate race against Texas Attorney General Ken Paxton, who's gotten an endorsement from President Donald Trump. Public polling has shown Talarico slightly ahead of Paxton, a controversial figure in Texas who was impeached by the state House of Representatives over allegations of corruption. He was acquitted by the state Senate. In January, the FCC called into question whether TV talk shows are "bona fide" news programs and are therefore exempt from equal airtime rules for political candidates. "The View," another ABC program, has faced similar scrutiny from the FCC. Kimmel said Wednesday that he has been interviewing political candidates, including Trump himself, for years. Kimmel's show has become a lightning rod for debates around broadcasting rights, First Amendment protections and government intervention. Last year, ABC-affiliate station owners opted not to air "Jimmy Kimmel Live!" after comments he made during a monologue following the killing of Charlie Kirk. ABC suspended the show for roughly a week, and Kimmel later said, "It was never my intention to make light of the murder of a young man." In April, the FCC launched an early renewal process for ABC-owned stations, citing an investigation into the company's diversity, equity and inclusion practices. ABC filed the license renewals, but in August it sued the agency over First Amendment concerns, calling its investigation into the company a "retaliatory campaign."

Kimmel says interview with Senate candidate Talarico won't air on ABC amid FCC threats
Asia
The Hindu BusinessLine

Oil prices fall 1% on hopes of limited supply disruptions

Sept 18 Oil prices fell about 1%, extending losses for a ‌third session, but stayed above $100 on Friday, as hopes of alternate ​ways for barrels from West Asia to reach markets ⁠outweighed concerns about strikes between Saudi Arabia and Yemen's Houthis. Brent crude futures fell $1.01, or 1%, to $103.77 a barrel by 0020 GMT, while US West Texas Intermediate futures fell $1.03, or ‌1%, to $100.88 a barrel. Both benchmarks had closed down about 1% on Thursday. Markets largely shrugged off concerns about new threats to supplies ‌even as Saudi Arabia and Yemen's Iran-backed Houthis exchanged fresh strikes ‌across ⁠their border on Thursday, expanding the West Asia war front. Oil prices ⁠had climbed to around four-month highs this week as sources said crude loadings at Saudi Arabia's Red Sea export hub of Yanbu had been suspended and Riyadh had cancelled some deliveries to ​Europe after its East-West pipeline ‌was damaged in an attack last week. Sources that have spoken to Reuters have given varying estimates of how long it will take to reopen the pipeline and return crude flows to normal. Three of the pipeline's pumping ‌stations — one more than assessed previously — were damaged, according to satellite imagery ​and three industry sources. A prolonged closure of the pipeline to Yanbu could cut off as much as 4% of ⁠global oil supply, traders have said. Bloomberg reported that Saudi Arabia was seeking to return about half the capacity of its East-West oil pipeline within days after the ‌critical link to the Red Sea was halted last week following drone attacks. Saudi Arabia was also offering more crude cargoes to Asian refiners through ship-to-ship transfers off Oman's Sohar port, a move that would help offset some of the disruption caused by attacks on the East-West pipeline. US Energy Secretary Chris Wright has said that crude should be flowing through the pipeline within days. Iran's ‌Revolutionary Guards Navy said a Togo-flagged oil tanker was struck while attempting to make an "illegal ​passage" through the Strait of Hormuz on Thursday, Iranian state media said early on Friday. Highlighting uncertainty, JPMorgan said on Thursday it ⁠does not have a clear baseline view for oil markets for the first time since ⁠the start of the US-Israeli war on Iran. The US and Iran have held no peace talks since an interim agreement reached ‌in June collapsed within weeks. The war will come up for discussion at the United Nations General Assembly next week, and an Iranian delegation ​will be able to attend, according to the US State Department.

Oil prices fall 1% on hopes of limited supply disruptions
North America
CNBC Economy

Wholesale prices rose 0.4% in August, as expected

U.S. wholesale prices rose in August, according to a report Thursday that could play a key role in the Federal Reserve's upcoming interest rate decision. The producer price index, a measure of final demand costs for goods and services, increased a seasonally adjusted 0.4% for the month, in line with the Dow Jones consensus, the Bureau of Labor Statistics reported. On an annual basis, that put the PPI at 5.4%, still well above the Fed's 2% inflation target and 0.1 percentage point higher than expected. The PPI rose 0.1% in July, a slight upward revision from the original estimate of no change. Excluding food and energy, the core PPI accelerated by 0.2%, against the forecast for a 0.3% increase. Core less trade services, another volatile category, was up 0.3%, in line with estimates. Stock market futures were negative following the report, the release of which coincided with U.S. crude oil prices topping $100 a barrel. Treasury yields moved sharply higher, with the 10-year note hitting its highest since November 2023. "Net, net, today's PPI inflation report does nothing to turn down the warnings about the inflation threats the economy faces, especially if you are an inflation hawk with an itchy trigger finger at the Federal Reserve," wrote Chris Rupkey, chief economist at Fwdbonds. Energy prices in particular and goods prices overall were responsible for most of the PPI increase. Final demand energy prices rose 4.2%, pushed largely by soaring diesel, which surged 24.1%. Goods prices broadly increased 1.1%. Services prices were up just 0.1%, with a 2.3% increase in transportation and warehousing accounting for much of that move. Portfolio management costs, a closely watched metric in the PPI calculations, fell 1.6% for the month but were still up 18.8% from a year ago. There were further signs of pipeline pressures: Processed goods prices increased 1.8% while unprocessed goods accelerated 1.1%. The report comes less than a week before central bankers will release their decision on interest rates. A separate report, the consumer price index, will be out Friday. CPI is expected to show a headline annual inflation rate of 3.4%, though core is expected at 2.4%. Both BLS measures feed into the Fed's primary inflation gauge, the personal consumption expenditures price index, though that will not be released until later in the month, and after next week's policy meeting.

Wholesale prices rose 0.4% in August, as expected
Asia
The Hindu BusinessLine

Samvardhana Motherson’s subsidiary acquires majority stake in Rotary Connectors for ₹500 crore

Auto components major Samvardhana Motherson International (SAMIL) on Monday said its subsidiary Samvardhana Motherson Adsys Tech (SMAST) will acquire a 50.1 per cent equity stake in Rotary Connectors (RCPL) at an enterprise value of ₹500.4 crore. The transaction is expected to be completed by the end of the current financial year, the company said in a stock-exchange filing. “Post the completion of the afore-mentioned transaction... RCPL will become an indirect subsidiary of SAMIL. The promoters of RCPL will continue to hold 49.9 per cent equity stake in RCPL,” it said. The strategic partnership supports Motherson Group’s vision of diversifying and scaling its Aerospace and Defence business vertical, particularly in the field of Electrical Wiring Interconnect System (EWIS), it said. Rotary manufactures military-grade circular connectors and interconnection solutions having diversified applications. “Further, Motherson’s established footprint in Aerospace and Defence, along with its geographic reach and customer access, can potentially be leveraged to accelerate the growth of the target’s business,” the company added. RCPL had a turnover of ₹123.5 crore in FY26 and three manufacturing facilities in Bengaluru. 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.

Samvardhana Motherson’s subsidiary acquires majority stake in Rotary Connectors for ₹500 crore
Asia
The Hindu BusinessLine

China’s SDLG invests ₹300 crore in Gujarat plant

Shandong Lingong Construction Machinery (SDLG) has invested ₹300 crore to set up a manufacturing plant in Gandhidham, Gujarat, as it looks to expand local production, increase sourcing from Indian suppliers and strengthen its presence in India. The new facility, inaugurated on Monday by the Chinese construction equipment maker’s India arm, will manufacture wheel loaders, excavators and motor graders, with the company targeting an annual production capacity of up to 3,000 units in a phased manner. The Gujarat facility will also support SLDG’s efforts to deepen localisation and build a larger network of Indian suppliers. SDLG India has simultaneously launched 10 new construction equipment products across diesel and electric excavators, wheel loaders and motor graders, targeting India’s infrastructure, construction and mining sectors. The new portfolio includes diesel excavators with upgraded hydraulics, operator controls and safety features, as well as electric equipment aimed at applications requiring lower-emission solutions. “India is entering a significant phase of growth in the construction equipment industry, with the market on track to become the world’s second-largest by 2030, according to the Indian Construction Equipment Manufacturers’ Association (ICEMA). This presents a significant opportunity for SDLG to deepen its presence in the country,” said Yang Xiaozhou, Head of Overseas Factory Projects at SDLG, in an official release. The Gujarat plant will be developed in phases, allowing SDLG India to scale production in line with the market demand. SDLG India currently offers wheel loaders, hydraulic excavators and motor graders for applications including quarrying, mining, road construction, railways and port infrastructure. In 2026, the company established full-fledged operations in India as part of its strategy to cater to growing domestic demand. 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.

China’s SDLG invests ₹300 crore in Gujarat plant
Europe
BBC Business

Carney gambles on the world's biggest investors betting on Canada

Image source, ReutersByMichael Race, Business and economics reporter and Jessica Murphy, Canada digital editorPublished14 September 2026, 00:03 BSTIt's been a little over 18 months since Canadian Prime Minister Mark Carney said his country's relationship with the United States, based on over a century of tight economic and military cooperation, was "over". Trade talks collapsing, tit-for-tat tariffs, and Donald Trump's talk of making Canada a "51st state" have all fuelled this bitter feud between the two North American neighbours. Now, as Canada's top pitch man, Carney is looking to leverage personal relationships from his time spent in the top tiers of global finance to woo some of the world's wealthiest asset managers and business leaders to bet on his country. For two days, Toronto will host more than 100 global investors overseeing more than C$100tn ($72tn; £53) in assets, in the hope that new economic relationships will help Canada navigate an increasingly unstable geopolitical climate. "Canada has what the world wants," said Carney ahead of this "first of its kind" investment summit. On Monday and Tuesday, a luxury hotel will host guests from major sovereign wealth funds from around the world - including the United Arab Emirates and Norway - and chief executives from major finance companies, like BlackRock's Larry Fink and Blackstone president Jon Gray. There, Carney hopes to pitch them on Canada's energy and resource sectors, as well as the country’s political stability, in the hopes of getting them to invest in AI, defence, transportation, and infrastructure projects across the country. It is all part of a strategy to build a "more independent, more resilient economy" in Canada in the wake of the tariff war with the US, which has escalated in recent weeks. But there is no guarantee that the deep-pocketed investors will be easily sold, and challenges include a track record in Canada of lengthy approvals for projects. A recent report by the Canada Pension Plan Investment Board, which will co-host the summit, cautioned that the scale and depth of investible opportunity is the country's greatest weakness. "Global capital is looking for opportunity, but opportunity alone does not make a market investible," said Naomi Powell, director of the CPP Investments Insight Institute. While shifting away from its closest business partner will prove a test for Carney, the former central banker has an address book full of the world's biggest business bosses and is on first-name terms with many of them.

Carney gambles on the world's biggest investors betting on Canada
North America
CNBC Finance

Macy's posts strong results, raises guidance as turnaround begins to take hold

Macy's on Thursday posted growth across the company in its second fiscal quarter and raised its guidance as it continues its turnaround. The retailer said overall comparable sales rose 2.7% for the quarter, with comparable sales for its namesake brand up 1.1%. The company said that growth was largely driven by its so-called reimagined stores, locations it has revamped as one of the focuses of its turnaround. Macy's said its higher-end store line Bloomingdale's saw an 11.3% increase in comparable sales, while beauty brand Bluemercury was up 6.2%. "I think it's a different Macy's Inc. today," CEO Tony Spring told CNBC. "We're in a healthier position. We're catering to our customers while we're also becoming a more interesting investment option for our shareholders." Spring added that Bloomingdale's has seen success by "doing innovative things" to remain "accessible and very differentiated" for a higher-end consumer. On the other side, Spring said the overhauled Macy's stores have had better assortments, more customer assistance and stronger displays of merchandise to help improve the experience. The company also raised its full-year guidance and now projects net sales to be between $21.68 billion and $21.83 billion, compared to a prior expectation of between $21.5 billion and $21.75 billion. It also raised its comparable sales outlook range from between 0.5% and 1.2% growth to a 1% to 1.5% increase. Macy's hiked its full-year earnings per share outlook to a range of $2.15 to $2.35, up from $2 to $2.20. It said that included a roughly 5 cent per share bump from tariff repayments it will apply to its bottom line. The retailer reported that it has received a total of $116 million in tariff refunds, and will invest most of that — about $96 million — in the customer experience and its turnaround plan. Spring said Macy's would rather put the money toward long-term improvements than temporary price reductions, a step some retailers have taken to cater to cash-strapped shoppers. "There is great value being offered across all of our nameplates, and we just really wanted to make sure that the reinvestment of the tariff refunds were things that were beyond one-time benefits that really had lasting power to support the overarching intent of our strategy," Spring told CNBC. He added that the company is holding back a small portion of those refunds due to uncertainty around fuel costs to make sure Macy's is "not surprised by anything else." The company reported net income of $169 million, or 62 cents per share, compared to $87 million, or 31 cents per share, the year prior. Adjusting for one-time items, Macy's reported earnings per share of 40 cents. Sales rose to roughly $4.87 billion, up just slightly from $4.81 billion the year prior.

Macy's posts strong results, raises guidance as turnaround begins to take hold
Europe
BBC Business

'Culture shift' needed in how UK does business, PM urges

Image source, Getty ImagesByMitchell LabiakBusiness reporterPublished6 hours agoThe UK needs a "culture shift" in how it does business, Andy Burnham has said ahead of a meeting with some of the UK's biggest bosses. The prime minister said those who take risks in business should be backed by government and local leaders should have the power to work with businesses. The current Labour government has been criticised for increasing costs for businesses, such as with the employer national insurance and minimum wage changes under Burnham's predecessor Sir Keir Starmer. Downing Street said Burnham will meet with the chief executives of BP, Shell, HSBC, Morrisons, Sainsbury's, BT, Vodafone, Rolls-Royce, and several others at Number 10. Ahead of the meeting, Burnham said he would give people "the confidence that if they have a great idea, they'll get all the support they need to bring it to life". "When local leaders have the tools to get things done and government works in partnership with business, you can pull in investment, create jobs and transform communities," he said. He added the government would be "a partner for growth to make every part of Britain better off". Burnham will host a reception for the business community where local leaders are invited before a private engagement with senior chief executives at Downing Street on Monday evening. The meeting comes as higher borrowing costs in the UK and other countries present problems for governments looking to spend money on business support or investment. Official data revealed a surprise boost in the economy in July partly driven by artificial intelligence (AI) investment, though experts expect growth to slow in the months ahead due to high energy prices. The US-Israel war with Iran has led to a sharp jump in oil prices, which has fed through to higher energy and fuel prices, affecting households and businesses. This rise in energy costs has led to fears that inflation will remain high, and increase the chance that central banks will hike interest rates to keep price rises under control.

'Culture shift' needed in how UK does business, PM urges
Europe
BBC Business

Are interest rates on the way up again?

Image source, Getty ImagesByMichael RaceBusiness reporter, Reporting fromNew YorkPublished4 hours agoThere's nothing like talk of energy prices and potential higher borrowing costs to remind us that the summer holidays are well and truly over. Surging oil prices have been pushing up what drivers pay at the fuel pumps and eating away at household budgets for months, and concerns remain over whether the economic impact of the US-Iran war will drive the cost of living higher. Citing the Middle East conflict and warning inflation was "set to remain well above" its 2% target for some time, the European Central Bank recently raised interest rates to 2.5%. Other central banks are also responding, with the US and the UK poised to make interest-rate decisions next week. Up first on Wednesday is the US Federal Reserve, which has held rates steady between 3.5% and 3.75% for five meetings in a row. It last made a change - a rate cut - in December. But a strong jobs market and President Donald Trump saying he does not think oil prices will come down until the Iran war ends, which he expects to happen after November's elections, has led many on Wall Street to bet on a rate hike this month. Newly-appointed Fed Chair Kevin Warsh has remained tight-lipped on where he sees interest rates going, but his repeated comments that the central bank's focus should be on slowing price rises has further fuelled expectations of an increase. Economists at Deutsche Bank said recently that a rate hike is "the most likely policy outcome", noting comments from Warsh and other members of the Fed. Views differ somewhat, with Grace Zwemmer, US economist at Oxford Economics, expecting rates to remain unchanged, but almost universally a rate cut appears to be off the table. "The Fed Board, with its great new leader, must get smart - BE PATRIOTS for a change," he posted on social media last week. The US-Iran war and resulting higher global oil and gas prices are stoking the inflation fears. Shipments through the Strait of Hormuz waterway, one of the world's busiest oil and gas routes, have been restricted due to the war and a barrel of Brent crude is now around $105 (£78), approaching levels last seen at the outbreak of the conflict. Along with directly driving up costs for homes and businesses, higher energy prices can also make transporting goods more expensive and those extra costs can be passed down to consumers through steeper prices for the likes of food and other staples.

Are interest rates on the way up again?