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North America
CNBC Economy

U.S. payrolls rose 162,000 in August, much more than expected; unemployment rate at 4.1%

The U.S. economy added jobs at a brisk pace in August, reversing a summer slowdown in hiring, while the unemployment rate held steady. Nonfarm payrolls rose a seasonally adjusted 162,000 for the month while the unemployment rate, as expected, held steady at 4.1%, the Bureau of Labor Statistics reported Friday. Economists surveyed by Dow Jones had been looking for a payrolls increase of 53,000. "Net, net, the labor market is alive and well and generating thousands of new jobs to help keep economic growth squarely in the plus column," said Chris Rupkey, chief economist at Fwdbonds. The report was consistent with what Federal Reserve officials have called a stable labor market, and likely turns the central bank's focus to next week's reports on consumer and producer prices as the final determinant heading into the interest rate decision in less than two weeks. Stock market futures moved mostly lower after the release while Treasury yields, particularly at the short end where Fed policy has its greatest impact, rose sharply. Following the consensus beat on the report, markets edged toward the possibility of a rate hike for the Fed. Traders were still pricing in about 60% odds of a quarter percentage point increase at the central bank's policy meeting Sept. 15-16, according to the CME Group's FedWatch tool. "An upside surprise in payrolls will likely ramp up concerns about a rate hike, but that outcome is in the hands of next week's inflation numbers," said Ellen Zentner, chief economic strategist at Morgan Stanley Wealth Management. "If those come in cooler than expected, the Fed will likely feel comfortable discounting potentially inflationary signals coming out of the labor market." President Donald Trump called the August report a "great jobs number" and said the Fed should lower rates, not hike. "The Fed Board, with its great new leader, must get smart - BE PATRIOTS for a change," Trump said in a social media post. "High interest rates put the U.S.A. at a very unfair disadvantage, and I won't allow that to happen!" The president further threatened to cut off trading with countries with which the U.S. has a deficit unless the Fed cuts. The U.S. has a deficit with more than 90 nations. Policymakers generally watch the unemployment rate more closely for the health of the labor market, and that has held consistent for the past several years and is actually down 0.2 percentage point from a year ago. There was good news on that front as well, as the jobless level held steady even with a 0.2 percentage point increase in the labor force participation rate, a measure of those either employed or looking for jobs. The household survey, which is used to calculate the unemployment rate, showed an increase of employment totaling 569,000 and a surge of 683,000 into the labor force.

U.S. payrolls rose 162,000 in August, much more than expected; unemployment rate at 4.1%
Asia-Pacific
The Straits Times

US core inflation up more than forecast, bolstering case for hike

Overall consumer prices rose 0.4 per cent in August from July, and 3.4 per cent from a year earlier. WASHINGTON – US inflation stayed stubbornly high in August, bolstering the case for the Federal Reserve to raise interest rates at its meeting next week. Overall consumer prices rose 0.4 per cent from July on higher energy prices, and 3.4 per cent from a year earlier. The report suggests inflation made little progress toward the Fed’s goal in August amid ongoing pressures from the Iran war, tariffs and the data center buildout. “Those numbers are still stubborn. This to me is an in-line print which will probably not satisfy anybody, whether you’re bullish or bearish,” said Joe Saluzzi, co-founder and co-head of equity trading at Themis Trading. The US central bank will likely see the numbers as tipping the scale in favour of the first rate increase in three years after some officials suggested the Sept 15 to 16 decision could come down to what the figures showed. The main US stock indexes were set to open higher on Sept 11, putting them on track to end a rough week on a positive note. Fluctuating interest rate expectations have left the market backdrop fragile, as stocks navigate a confluence of headwinds, including the intensifying Middle East conflict and elevated Treasury yields. The consumer price index report followed slightly hotter-than-expected producer price index reading on Sept 10 that did little to reassure investors. “We believe that the Federal Reserve needs to respond to these in the near term or risk a repeat of the high inflation of the 1970s, which would represent yet another failure of discretionary monetary policy,” Said Haidar, founder of Haidar Capital Management, said. Fed chairman Kevin Warsh has been reluctant to tip his hand on the central bank’s next move, but, in a speech in August, he said the Fed would “have work to do” if it could not “be confident that underlying inflation is moving to our objective, clearly and at sufficient speed”. Warsh’s job as chairman next week will be to corral his colleagues, while also providing a clear-cut rationale for whatever decision is ultimately made.

US core inflation up more than forecast, bolstering case for hike
Asia
The Hindu BusinessLine

Fisherwomen urged to tap government opportunities at national conclave

Speakers at a national conclave here have called upon fisherwomen to come forward and make use of opportunities offered through government initiatives and fisheries programmes. Women are the backbone of the fisheries and aquaculture sector, contributing significantly across the value chain, particularly in processing, value addition and marketing. However, their work remains largely undervalued and underrepresented, said B. Meenakumari, former Deputy Director General (Fisheries Science), ICAR. “Empowering fisherwomen requires greater access to formal recognition, credit, technology, training, social security and decision-making platforms,” she said while inaugurating the two-day conclave on ‘Empowering Women in India’s Blue Economy: Recognition, Inclusion and Partnering’ at the ICAR–Central Institute of Fisheries Technology (ICAR-CIFT), Kochi. Women should be recognised not merely as beneficiaries, but as entrepreneurs, innovators and climate ambassadors who can play a key role in building a more inclusive, resilient and sustainable blue economy, Ms. Meenakumari said. Around 60 women from Kerala, Lakshadweep, Tamil Nadu, Puducherry, Arunachal Pradesh, Sikkim, Maharashtra, Gujarat and Andhra Pradesh are attending the conclave. The participants represent a wide range of fisheries-related occupations, including gleaning, fish processing, value addition, seaweed farming, trout farming, dry fish vending, processing and marketing, and fish culture. Their participation reflects the diverse roles played by women across the fisheries value chain in different regions of the country. The programme includes hands-on sessions on digital and financial literacy, occupational health and safety, climate education and disaster preparedness. The International Year of the Woman Farmer provides a timely context for recognising the contribution of women to agri-food systems. Since fisheries and aquaculture form an integral part of these systems, the conclave provides a platform to highlight the vital role of fisherwomen in sustaining livelihoods, supporting food and nutritional security, and contributing to the Blue Economy. 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.

Fisherwomen urged to tap government opportunities at national conclave
Asia
The Hindu BusinessLine

From fibre to future: Weaving sustainability into India's textile growth

As India targets a $350 billion textile and apparel industry by 2030, sustainability is shifting from the margins to the centre of its competitiveness strategy. For a sector spanning fibre, yarn, fabric, processing, apparel, technical textiles and made-ups, sustainability is increasingly becoming a question of competitiveness, market access and responsible growth. When Prime Minister Narendra Modi said, “The world is adopting the vision of Fashion for Environment and Empowerment, and India can lead the way in this regard,” he pointed to a transformation that is increasingly visible across India’s textile landscape. The textile sector is a major employment engine, directly supporting over 49 million livelihoods. Its domestic market is valued at about $196 billion and is projected to reach $250 billion by 2030, while India is targeting $100 billion in textile exports by the same year. The Ministry of Textiles’ sustainability agenda reflects this dual reality. It is built around a simple proposition: India should not have to choose between growth and sustainability. Instead, cleaner production, resource efficiency, circularity and responsible manufacturing are set to become the foundation of the textile sector’s next growth chapter. Global brands are setting increasingly ambitious sustainability targets for their supply chains. Consumers are showing greater interest in reused, repaired and recycled products, while policymakers in major export markets are introducing requirements related to environmental performance, recycled content, traceability, chemicals, water and energy use. India’s climate commitments — including 500 GW of non-fossil energy capacity, 50 per cent of energy requirements from renewables and net zero emissions by 2070 — are also steering the textile sector towards a low-carbon growth trajectory. For Indian exporters, sustainability is therefore moving beyond a peripheral compliance issue and becoming an integral part of industrial competitiveness. India also starts from a position of strength, with a large manufacturing base, diverse raw materials, technical capabilities, an established recycling and reuse ecosystem, a growing start-up landscape and a wide network of clusters, research institutions and industry associations. Circularity is not entirely new to India. Traditions such as rafugari, kantha, godhadis, chindi durries and khesh weaving have embedded repair, reuse and repurposing in communities for generations. India’s hosting of the World Circular Economy Forum 2026 further reflects this larger shift, bringing together governments, industry, innovators and experts together to turn ideas into partnerships and scalable solutions. One of the clearest areas to put circularity into practice is textile waste. A Ministry study from 2026, covering 15 states and more than 250 stakeholder interactions, estimated annual textile waste generation at 70.73 lakh tonnes. More than 70 per cent is already recovered and routed into recycling, downcycling or upcycling streams, with recovery of pre-consumer waste exceeding 95 per cent. The larger gap is post-consumer waste, where collection, segregation and economically viable recovery systems remain less developed. The study estimated that India’s textile recycling market could reach about $3.5 billion by 2030, with opportunities across collection, sorting, fibre recovery, recycling, upcycling, repair and sustainable manufacturing, with the potential to generate around one lakh green jobs. The Ministry is moving beyond quantifying the problem to building the infrastructure and market mechanisms needed to close the loop. Textile recovery facilities are being piloted in multiple cities, while textile-waste mapping is identifying the need for stronger collection and sorting systems and policy solutions for blended and non-recyclable materials. A textile-waste management pilot in Navi Mumbai, implemented by the Textiles Committee in partnership with Navi Mumbai Municipal Corporation, Saahas Foundation and women’s self-help groups, diverted more than 3,323 kg of textile waste from landfill and incineration, reached over 12,000 families and installed more than 80 collection bins. It also produced over 1,000 samples and upcycled products. Through a partnership between the Textiles Committee, Government e-Marketplace (GeM) and SCOPE, certified upcycled textile products are being brought into public procurement. 31 upcyclers have been certified under the upcycled textile mark, with 27 categories and 40 products live on GeM, helping create an assured market for circular products. Circularity is only one part of the sustainability story. Much of the environmental footprint of textiles is created during manufacturing and processing, making water, energy and chemicals equally important. The agenda of eliminating hazardous chemicals is being taken up through a major programme with UNIDO, the Global Environment Facility and other partners. The project aims to reduce hazardous chemicals while improving energy, water and greenhouse gas performance. Its targets include reducing 10,530 tonnes of toxic chemicals directly and 21,000 tonnes indirectly, while mitigating 147,000 tonnes of CO₂ equivalent directly and 294,000 tonnes indirectly. It is also designed to directly reach 40,000 people, 60 per cent of whom are expected to be women. At the infrastructure level, sustainability is being built into the sector’s future industrial geography. Seven PM MITRA parks, with an expected investment of about $10 billion, are envisaged with integrated water, wastewater and common processing infrastructure. For sustainability to become mainstream, pilots must move into factories and clusters. This is particularly important because a large part of the textile ecosystem comprises MSMEs, which may face constraints in accessing technology, finance, data and technical expertise. The Ministry constituted an ESG Task Force in July 2023, bringing together government bodies, industry associations, chambers, multilateral agencies, innovators, brands and academia. Its work focuses on harmonised certification, cluster handholding, awareness and capacity building, sustainable fashion technology, and the use of artificial intelligence and digitalisation for data and traceability. The ESG Task Force has supported the EU-India Resource Efficiency & Circular Economy Initiative (EU-I RECEI), implemented through GIZ, covering a national assessment of textile waste, a circular economy roadmap for Tamil Nadu, an MSME toolkit for Panipat and a standard operating procedure for Textile Recovery Facilities. A separate UNEP-led programme is providing life-cycle assessment and eco-innovation training and technical assistance to SMEs in the Surat and Karur clusters. Technology and innovation are also long-term enablers. The National Technical Textiles Mission supports research into waste-to-fibre technologies and conversion of textile waste and bio-residues into advanced green materials. At IIT Delhi’s Panipat campus, the Atal Centre of Textile Recycling and Sustainability is undertaking research and technology transfer, including recycling heat-resistant aramid fibre waste used in defence and aerospace applications. At Bharat Tex 2026, sustainability-focused research on traceable hemp fibre, circular business models and wheat straw as a forest-free alternative for man-made cellulosic fibres further highlighted the breadth of innovation emerging around the sector.

From fibre to future: Weaving sustainability into India's textile growth
Asia
The Hindu BusinessLine

Tata Sons listing: Who stands where, who controls what

A boardroom battle at India's largest conglomerate has escalated after Tata Sons' directors approved a fresh term for executive chairman N Chandrasekaran in a vote that the group's biggest shareholder called illegal. Noel Tata, who chairs the network of charitable trusts holding roughly two-thirds of Tata Sons' shares, cast the sole vote against extending Chandrasekaran's tenure by five years. The same meeting saw directors approve preparations for a public listing of Tata Sons - a step Noel Tata also opposes. Here is a look at who stands where and who controls what in one of the most consequential boardroom battles in the conglomerate's 150-plus-year history that is expected to trigger a legal challenge over both decisions: RBI: Has rejected Tata Sons' request to surrender its Core Investment Company registration. Tata Sons is, therefore, back under the regulatory framework applicable to an upper-layer NBFC, which entails a listing requirement. Tata Sons had standalone assets of ₹1.75 lakh crore as of March 2025. Tata Sons board: Has decided to proceed with a public listing rather than challenge the RBI decision. Shapoorji Pallonji Group: Owns about 18.4 per cent of Tata Sons and has now explicitly backed a listing. Chairman Shapoor Mistry says listing is a matter of transparency and public accountability. Tata Trusts: Own about 66 per cent and have not agreed to a Tata Sons listing. Chairman Noel Tata has argued that listing could alter the structure and character of the Tata model. Noel Tata: Is the principal voice against the listing within the Tata Sons board. He has asked that alternatives to listing be explored. Venu Srinivasan: The other Tata Trusts nominee on the Tata Sons board, supported the board's recent decisions. N Chandrasekaran: He had announced a plan to step down in February amid his boardroom battle with Noel Tata, who wanted, among other things, a commitment from him that Tata Sons will remain private. Chandrasekaran had in August cited a lack of unanimous board support for an extension as a reason for his decision to step down. Yet on Thursday in a dramatic reversal, he accepted the extension. Noel Tata was the only director to vote against extending his tenure on Thursday. The broad ownership structure: Tata Trusts 66 per cent; Shapoorji Pallonji Group 18.38 per cent; Tata Group companies 12.86 per cent; seven individuals/others 2.87 per cent The 66 per cent isn't held by a single legal entity. Sir Dorabji Tata Trust (SDTT): 27.98 per cent; Sir Ratan Tata Trust (SRTT) 23.56 per cent - Other Tata Trust entities hold the balance, including JRD Tata Trust (4.01 per cent), Tata Education Trust (3.73 per cent), Tata Social Welfare Trust (3.73 per cent), MK Tata Trust (0.60 per cent), and Sarvajanik Seva Trust (0.10 per cent).

Tata Sons listing: Who stands where, who controls what
Asia
The Hindu BusinessLine

Full implementation of India’s IPMS can help tackle fake pesticide, says insecticide board official

India can eradicate the menace of counterfeit pesticides sold to farmers if the National Integrated Pest Management System (IPMS) is fully implemented, said Subhash Chand, Secretary (Central Insecticides Board and Registration Committee -CIB&RC), Ministry of Agriculture. Speaking at the National Conference on ‘AI for Agriculture Transformation’ organised by CropLife India in New Delhi on Thursday, he said the National IPMS database enables track-and-trace, ensuring authenticity of the products through an established dealer network. He urged the industry to collectively come together to develop an AI-based tool or app that will help farmers identify pests and make informed decisions on the right pesticide, at the right time and in the right dose. He said harnessing technology can strengthen scientific and responsible crop protection practices at the farm level. CropLife India is an industry body that represents 17 research and development (R&D) driven companies in the crop protection sector. During a panel discussion by CEOs, Ankur Aggarwal, Executive Chairman & MD of Crystal Crop Protection, said the industry will witness more proximate innovations, beyond discovery for each mode of action. He said robotics could also play a major role in the future. Gyanendra Shukla, MD & CEO of Rallis India, said that digital channels would become quite important and impact margins. He further said that AI can define the next phase of growth for the industry. Mohan Babu, COO, Bayer CropScience, said that the industry would shift to an integrated approach, beyond just chemicals or biological solutions, involving technology like AI, enhanced seeds and gene editing. Giridhar Ranuva, Business Director at BASF Agricultural Solutions, said the role climate change will play, with outcome-based agriculture gaining significance. Rahul Dhanuka, MD of Dhanuka Agritech, said that solutions that India builds, including AI-based applications, will democratise mechanisation and the rest of the world will draw from India’s experiences. The panel discussed the industry’s outlook for 2035. CropLife India unveiled a report in partnership with Yes Bank at the conference. The report titled “Innovation in Crop Protection Sector”, expects India’s net sown area to shrink by 10 per cent due to conversion of land for urban uses by 2050. It pegged the loss of crop yield due to pests and diseases at ₹ 2 lakh crore. It said these pressures will further intensify due to climate change and called for increasing per hectare yield, which includes arresting such losses. The report stressed reforms in the sector, including more digitalisation, enhancing farmer extension services, promoting domestic R&D through incentives like the Production-Linked Incentive (PLI) scheme, One Nation One Licence that is valid across states, and a five-year Regulatory Data Protection (RDP) incentive to encourage entry of newer crop protection solutions in the country.

Full implementation of India’s IPMS can help tackle fake pesticide, says insecticide board official
Europe
BBC Business

Trump threatens to stop sale of Canadian Bombardier jets in US

Image source, Getty ImagesImage caption, Bombardier is based in Montreal and is one of Canada's largest companies. President Donald Trump has warned Canadian aircraft company Bombardier that it can no longer sell in the US unless it moves its manufacturing there. The move comes amid an escalating trade war between the two neighbours, and hours before Canadian retaliatory tariffs are set to be imposed on $20bn (£14.7bn) worth of US goods. In a statement, Bombardier underscored that it employed thousands of American workers and said it valued its partnerships with American companies. It is unclear how Trump intends to block Bombardier from doing business in the US. The Montreal-based company already operates a factory in the US state of Kansas that builds special mission military planes, and employs 3,500 American workers. It also operates sites in Texas, Arizona, Florida, Connecticut, Illinois, Delaware, California, DC and New Jersey. About half of its fleet – 5,100 aircraft – is operated by Bombardier customers based in the US. In a statement on Monday, Bombardier did not address Trump's threat directly, but said its operations "create tens of thousands of US jobs through the company's growing American footprint". "Bombardier values its great partnership with American companies and its US employees," its statement said. "Our plan is to continue to invest in our people, our customers and the communities in which we operate across the country." Bombardier's jets are built at facilities in Canada, the US and Mexico, according to the company's website. They also comply with the North American free trade agreement signed by Trump during his first term, known as CUSMA in Canada and the USMCA in the US. The company is one of Canada's largest, having contributed C$7.4bn ($5.4bn; £4bn) to the country's GDP in 2024, according to a report commissioned by Bombardier.

Trump threatens to stop sale of Canadian Bombardier jets in US
Europe
BBC Business

Alstom to build new battery-electric train fleet

Work to create the UK's first battery-electric trains for long-distance main line services is set to begin in 2028, the Department for Transport (DfT) has announced. The 29 new Adessia Stream trains are expected to enter service in 2034 and will be built at Alstom's Litchurch Lane factory in Derby. The government said the investment of almost £1bn would help support more than 350 jobs at Alstom and a further 6,000 jobs across the UK supply chain. Prime Minister Andy Burnham said the new trains would deliver "faster, more reliable journeys to the north and thousands of British jobs for the next generation". He added: "I've lost count of the number of times someone has stopped me to tell me about the train that never came. "And when that happens, it means missed shifts, missed appointments, and missed opportunities. Today, that starts to change." The DfT said the trains would help deliver the TransPennine Route Upgrade's aim to boost capacity by 30%, with thousands of additional seats a day across the Pennines by the early to mid-2030s. They will run between key destinations across the north including Liverpool Lime Street and Scarborough, Manchester Airport and Saltburn, and Manchester Piccadilly and Hull. On sections of the railway that are not electrified, where trains currently use diesel engines, the new electric models would be able to run without emissions, the government said. The DfT added journey times would be cut by up to 10 minutes between Manchester and Leeds, and up to 14 minutes between Manchester and York. The trains will be bought by rolling stock company Rock Rail and leased to TransPennine Express, the government added. Alstom, which boasts the largest rolling stock train manufacturing site outside of China, secured a £370m contract in 2024 to produce 10 new London Elizabeth line trains.

Alstom to build new battery-electric train fleet
North America
CNBC Economy

Japan's foreign reserves drop by a record $80 billion in August following yen intervention

Japan's foreign reserves have fallen at their fastest pace since ministry records started in 2000, slumping 6.18% in August. Finance ministry data showed that foreign reserves stood at $1.207 trillion, down from July's figure of $1.287 trillion. This is the fourth straight month of decline, and surpassed the previous record in May, when reserves had dropped 5.58%. While the finance ministry did not give the reason for the decline, Japanese media outlet Kyodo News cited an unnamed finance ministry official, saying the drop was due to interventions aimed at propping up the yen and a decline in the value of government bonds, following a jump in yields. Global bond yields have been climbing to multiyear highs, with yields in Germany, the UK, and U.S. Treasuries hitting sharp milestones. Masahiko Loo, senior fixed income strategist at State Street Investment Management, told CNBC that the "decline is primarily the result of Japan's recent dollar-selling, yen-buying FX interventions." Tokyo has conducted multiple rounds of interventions to prop up the yen over the past few months, buying about 11.73 trillion yen ($75.26 billion) in April and May, and then conducting a larger intervention of 15.4 trillion yen, which was supplemented by the U.S. selling euros to support the yen, at the end of July. According to finance ministry data, the combined 27.1 trillion yen spent so far is the largest yearly amount ever splashed out on intervention, surpassing the previous record of 20.4 trillion yen in 2003. The move with Washington was also the first coordinated intervention by the two countries to support the yen since since 1998. The yen, which had hit a 40-year low of 163.98 on July 23, currently trades at 155.98 against the dollar. When asked if the drop in reserves should worry investors, State Street's Loo said, "The decline reflects policy action rather than financial stress." Get this delivered to your inbox, and more info about our products and services.

Japan's foreign reserves drop by a record $80 billion in August following yen intervention