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Europe
BBC Business

China to pump $54bn into state banks and insurers to boost economy

Image source, Getty ImagesByPeter HoskinsBusiness reporterPublished1 hour agoChina is pumping tens of billions of dollars into eight state-owned banks and insurance companies to help shore up the country's financial system and boost its slowing economy. The cash injection, which is being led by China's finance ministry, will total 360 billion yuan ($53.6bn; £39.7bn), state news agency Xinhua said on Sunday. The outlet said the move "will help further enhance their sound operating capabilities, risk resistance capabilities, and ability to serve the real economy". It marks the latest move in Beijing's attempts to reinvigorate the world's second largest economy as it faces issues including trade tensions with the West, the impact of the Iran war and an aging population. The package will boost the finances of three big lenders and five insurers including the Industrial and Commercial Bank of China, the Agricultural Bank of China and China Export & Credit Insurance Corporation. State news outlet Global Times said this "will give banks and financial institutions more resources to channel into credit for the real economy, while strengthening their ability to withstand external shocks at a time of global financial uncertainty". President Xi Jinping has long seen financial stability as key to China's national security. This weekend's announcements come as Beijing is aiming to reshape the economy in the face of a number of challenges such as a shrinking workforce, a years-long property market slump and ongoing trade and technology rivalry with the US. China's economic growth slowed sharply between the start of April and end of June as weak domestic demand and the Iran war's impact on oil prices overshadowed the country's strong exports. Official gross domestic product (GDP) figures released in July showed China's economy grew in the second quarter by 4.3%, below Beijing's annual target, and after a 5% rise in the first quarter. In March, Beijing cut the growth target to a range of 4.5%-5%, its lowest economic expansion goal since 1991, a move some analysts say has given Beijing space to acknowledge pre-existing economic weakness. 'Investing in people': Can China's new push to boost spending revive the economy?

China to pump $54bn into state banks and insurers to boost economy
North America
CNBC Economy

Fed Governor Waller indicates he will support holding rates steady at September meeting

Federal Reserve Governor Christopher Waller said Thursday he is leaning toward keeping interest rates steady at the central bank's September meeting provided there are no surprises from upcoming inflation data. In remarks that seem to contrast with statements last week from Chairman Kevin Warsh, Waller expressed confidence in the current inflation trends, saying that tariff impacts likely have been muted and higher energy prices haven't had a substantial impact on other parts of the economy. While he conceded that inflation is "meaningfully above" the Fed's 2% target, he noted that recent trends "suggest we are finally seeing some signs of disinflation." "If this continues in the data due over the next two weeks, I would be inclined to support holding the target for the federal funds rate at its current setting," Waller said in remarks for a Reuters interview. Market-implied odds for a rate hike at the Sept. 15-16 meeting dropped sharply following the comments, with traders now pricing in just a 48.4% probability, down about 15 percentage points from Wednesday, according to the CME Group's FedWatch gauge. "I'm going to paraphrase John Lennon here: Give disinflation a chance. We can wait one meeting," Waller said. "What's the cost of waiting one meeting? Hiking 25 basis points, one meeting right now, is not going to bring the CPI down to 2%." The policymaker did add caveats, noting that if there are any indications between now and the meeting, he could change course. "I judge that policy is currently only slightly restricting aggregate demand, and it may not take much acceleration in inflation to nudge me into supporting tighter policy," Waller said. "If there is evidence that progress toward 2% inflation reversed in August, a small adjustment in our stance would help ensure that it resumes." The only major inflation reports the Fed will get are the consumer and producer price indexes that the Bureau of Labor Statistics will release next week. Those two reports feed heavily into the Commerce Department's personal consumption expenditures price index that the Fed uses as its main inflation barometer. The remarks come less than a week after Warsh said, during a speech at the Fed's annual symposium in Jackson Hole, Wyoming, that recent softer monthly inflation readings "do not tell me that underlying trends have meaningfully improved." If trends don't cooperate, "we have work to do," he added. While the statements differed little from the chairman's prior remarks on inflation, markets took them as hawkish on rates and quickly priced in a strong possibility for a hike at the upcoming meeting. Though headline inflation was at 3.7% and core at 3.3% for July, he said the underlying trends are actually "better than the core numbers suggest" and the annual numbers "are not the best guide for where inflation is today." He noted that the three-month inflation rate as measured by the Fed's preferred gauge has slipped from 4.76% in February to 3.05% currently.

Fed Governor Waller indicates he will support holding rates steady at September meeting
North America
CNBC Finance

Billionaire family offices back healthcare and biotech startups in August

Investment firms of ultra-wealthy families are helping fuel the venture capital rebound in biotechnology. In August, family offices made 52 direct investments in private companies, with biotech startups representing about 20% of transactions, according to data provided exclusively to CNBC by Fintrx, a private wealth intelligence platform. Stanley Druckenmiller's Duquesne Family Office, one of the most active family offices in the U.S., has backed at least four pharmaceuticals or life sciences companies this year, according to Fintrx. Last month, Duquesne participated in a $90 million Series C round for Epicrispr Biotechnologies. The 8-year-old startup is pioneering a new gene therapy for a rare muscle disorder known as facioscapulohumeral muscular dystrophy, or FSHD. Druckenmiller said in January that Duquesne had made substantial investments in biotech due to the potential of artificial intelligence. "I knew because I've been on the board of Memorial Sloan Kettering for 30 years, that probably the best use case out there of AI is biotech through drug discovery, diagnostics, monitoring everything," he said in an interview conducted by Morgan Stanley. In August, the namesake family office of Jeff Bezos also joined a $188 million Series E for LifeMine Therapeutics, which uses AI to analyze fungal genomes to develop new drugs. LifeMine is currently testing a drug compound to prevent organ failure in transplant recipients. Bill Gates' venture capital firm, Gates Frontier, also participated in the megaround. Venture funding for biotechnology has rebounded strongly this year. U.S. and European biopharma startups raised a whopping $12.6 billion in the first half of 2026, a five-year high, according to analysis by Silicon Valley Bank, now a division of First Citizens Bank after its 2023 collapse and subsequent sale. That said, investors are writing fewer checks overall, especially for early-stage startups, with a greater share of funding going toward companies with drugs already in testing, according to SVB's analysis, citing its own data and data from PitchBook. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Billionaire family offices back healthcare and biotech startups in August
Europe
BBC Business

Argentine leader says oil firms working off Falklands face sanctions

Image source, ReutersByWill Grant, BBC's Mexico, Central America and Cuba correspondent and Chris GrahamPublished4 September 2026, 03:01 BSTUpdated 1 hour agoArgentina's President, Javier Milei, has heightened tensions with the UK over the Falklands, warning he will impose economic sanctions on firms which exploit oil close to the British overseas territory. In a national address, Milei said the "winds of change" favoured Argentina's claim to the islands, emboldened by signs the US might reconsider its stance of neutrality on the issue. Milei said the Sea Lion oilfield, where a British and an Israeli firm are due to begin exploration work, was a "clear and present danger". More than 40 years after the war over the territory, sovereignty of the archipelago in the south-west Atlantic Ocean remains hotly disputed between Britain and Argentina. BBC News is seeking comment from the UK government on Milei's statement. It reiterated this week that Falkland islanders "are British with a right to determine their own future". Milei announced his sanctions plan surrounded by his cabinet at the presidential palace, reiterating that the Falklands were "historically and legally" Argentinean. The crux was a proposal to introduce a bill to parliament to impose sanctions on energy firms planning to begin oil exploration off the Falklands. The Sea Lion oilfield, around 130 miles from the islands, contains an estimated 1.7 billion barrels of oil. Two oil companies – Britain's Rockhopper Exploration and Israel's Navitas Petroleum – are due to begin exploration work in the Sea Lion oilfield off the Falklands coast within two years, something Milei said Argentina could not allow. "If we do not act swiftly in a few months, they will have the material capacity to access the oil that lies underneath our sea – something that has never happened before," Milei said. It is not yet clear how or to what extent the sanctions will be imposed or tightened. In Argentina, a current law already allows for restrictions of activities of oil companies participating in projects considered unauthorised on the islands. In a 2013 referendum, residents of the islands voted overwhelmingly to remain a British overseas territory - with 99.8% voting in favour and just three voting against.

Argentine leader says oil firms working off Falklands face sanctions
Europe
BBC Business

Chancellor to say UK economy 'turning a corner' despite debt concerns

Image source, Getty ImagesByFaisal Islam, Economics editor and Ella KiplingPublished4 hours agoThe chancellor is set to give an upbeat view of the state of the UK economy ahead of next month's Budget, building on a recent uptick in consumer and business confidence. In a speech on Monday, John Healey will talk of a "new story" of the economy not just turning a corner, but being resilient, optimistic and "ready to seize the opportunities of new technologies and ideas". Healey is facing pressures ahead of his first Budget, including concerns about government borrowing costs and inflationary impacts of the Iran war. The Conservatives said Healey's plans would "do little to comfort hard-working families and businesses". The £150m fund is part of a wider plan to generate more economic growth around the UK. Healey will detail plans to use public investment to "unlock private investment, to support our innovation economy, and to create the new jobs their areas need". The fund, from money already allocated to the British Business Bank, will provide investments of between £5m and £15m to the "most innovative and fast-growing firms". It is expected to back university spin-outs and other "ambitious businesses" across the north. Describing a country "turning the corner", the chancellor is expected to say: "The prime minister laid out a clear diagnosis of what has gone wrong in the past. The solution is a fundamental shift that starts with putting power in the right places. Recent ructions in government debt markets have made constrained public finances worse, with the Treasury needing to fill possible multi-billion pound gaps caused by rising borrowing costs, and the need to fund higher defence spending. As he prepares to deliver his Budget on 28 October, the chancellor says he is as committed to balancing the books as his predecessor. But the tone matters, and to get high saving consumers spending, and cautious businesses investing, Downing Street wants to point to sunnier times ahead for now, more than the prospect of tough Budgetary medicine.

Chancellor to say UK economy 'turning a corner' despite debt concerns
Asia
The Hindu BusinessLine

Dr Reddy’s launches educational initiative to strengthen obesity care workforce

Dr. Reddy’s Laboratories has launched a nationwide educational initiative aimed at strengthening India’s obesity care workforce through the development of a network of Certified Obesity Educators. The initiative seeks to equip more than 5,000 healthcare support professionals with specialised training in obesity prevention, risk assessment, patient counselling and long-term management, helping bridge a critical gap in obesity care delivery across the country. “India’s obesity challenge extends far beyond weight management. It is increasingly becoming a driver of diabetes, cardiovascular disease and several other chronic health conditions that impact millions of lives. While treatment options continue to evolve, sustainable outcomes require a broader support ecosystem built on informed patients, trained support professionals, sustained counselling and coordinated care,’’ M V Ramana, CEO, Global Generics, Dr. Reddy’s Laboratories said in a release on Monday. “Through this initiative, we aim to strengthen a critical but often overlooked pillar of obesity management by building a workforce that can support physicians and patients alike, helping create a more capable, connected and patient-centred obesity care ecosystem in India,’’ he added. Through a structured education and certification programme developed in collaboration with endocrinologists and clinicians, the initiative will train nurses, diabetes educators, dietitians and allied healthcare support professionals to become Certified Obesity Educators. Upon certification, these professionals will gain evidence-based knowledge and practical skills to support obesity risk assessment, lifestyle modification, behavioural change, treatment adherence and promote structured long-term obesity management. India is confronting one of the world’s largest obesity burdens. More than 254 million adults are estimated to be living with generalized obesity, while approximately 351 million are affected by abdominal obesity in India. Despite the growing scale of the challenge, obesity continues to be under-recognised and inadequately managed, with many patients receiving limited support beyond periodic physician consultations. As obesity increasingly contributes to diabetes, cardiovascular disease, fatty liver disease and other metabolic disorders, there is a growing need to strengthen healthcare capacity and create support systems that enable sustained patient engagement and long-term care. 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.

Dr Reddy’s launches educational initiative to strengthen obesity care workforce
Asia
The Hindu BusinessLine

First-ever bus service reaches native village of TN Minister Vanni Arasu since independence

Marking a historic milestone, Ayan Reddiapatti, the native village of Tamil Nadu Social Justice Minister Vanni Arasu, received a government bus service for the first time since Independence on Sunday. Sharing the development on social media platform X, Arasu stated that as India entered its 81st year following the celebration of its 80th Independence Day, his native village in Tiruchirapalli district finally obtained direct public bus connectivity on September 13. The VCK Deputy General Secretary noted that residents and elders from across all communities gathered to welcome the inaugural bus by showering flowers and waving flags, describing the event as a reflection of social harmony where villagers celebrated as though experiencing "another freedom." Reflecting on the personal significance of the occasion, Arasu recalled that his late parents had frequently urged him to contribute to the welfare of their village. He noted that fulfilling their long-cherished wish in their absence and witnessing the joy of the local community brought him immense solace. Arasu also conveyed gratitude on behalf of the residents of Ayan Reddiapatti to Tamil Nadu Chief Minister C Joseph Vijay and Transport Minister A Vijay Thamizhan Parthiban for facilitating the introduction of the bus service. 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.

First-ever bus service reaches native village of TN Minister Vanni Arasu since independence
Asia
The Hindu BusinessLine

Info Edge appoints Himanshu Agarwal as CFO

Info Edge (India) Ltd on Monday announced top-level leadership changes, including the appointment of Himanshu Agarwal as its Chief Financial Officer (CFO) and Whole-time Director, and the induction of former Adobe India MD Naresh Chand Gupta as an Independent Director. According to a regulatory filing, Agarwal’s appointment is effective from September 17, 2026. Ambarish Raghuvanshi, who had stepped in as Interim CFO in November 2025, will continue to serve as a Finance Advisor and Senior Management Personnel until October 31, 2026, to assist with the transition. The company has also appointed Naresh Chand Gupta as an Additional Director, designated as a Non-Executive Independent Director for a five-year term effective from October 1, 2026. Gupta, who previously served on the Info Edge board until March 2023, is currently a designated partner at Accuracap Technologies and serves on the boards of eClerx Services and NoPaperForms Solutions. 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.

Info Edge appoints Himanshu Agarwal as CFO
North America
Yahoo Finance

Stock Market News for Sep 3, 2026

Stock Market News for Sep 3, 2026 Stock Market News for Sep 3, 2026 · Zacks Zacks Equity Research Thu, September 3, 2026 at 2:58 AM PDT 4 min read U.S. stocks markets closed higher on Wednesday recouping some of the losses of the past three trading sessions. Market participants ignored higher crude oil prices and soaring yields on government bonds globally. Strong earnings data, however, bolstered investor sentiment. All three major stock indexes ended in positive territory. The Dow Jones Industrial Average (DJI) advanced 0.6% or 295.07 points to close at 53,061.95. Twenty-two components of the 30-stock index ended in positive territory and eight ended in negative territory. The tech-heavy Nasdaq Composite ended at 26,217.83, rising 0.5% or 118.05 points on solid performance by artificial intelligence (AI) stocks. The fear gauge CBOE Volatility Index (VIX) fell 7% to 15.20. A total of 14.75 billion shares were traded on Wednesday, lower than the last 20-session average of 15.19 billion. Advancers outnumbered decliners on the NYSE by a 1.78-to-1 ratio. On the Nasdaq, a 1.85-to-1 ratio favored advancing issues. The U.S.-Iran war escalated from Aug 30, for the first time since late July. As a result, crude oil prices spiked. The price of the U.S. benchmark — the West Texas Intermediate crude oil future — rose 1% to settle at $91.01 per barrel. The price of the global benchmark — the Brent crude oil future — rose 1% to settle at $95.63 per barrel. Higher oil prices will worsen the global inflationary situation as the transportation costs will rise affecting the general price level. Consequently, the yield on the benchmark 10-Year U.S. Treasury Note touched 4.818%, marking its highest level since November 2023. Moreover, Japan's benchmark 10-Year Treasury Note yield hit 3% for the first time since 1996. The yield on U.K. 10-year government Gilt hit 5.2501%, the highest level since June 2008. Additionally, yields on German and French Government bonds also moved higher. Dell Technologies Inc. DELL came up with quarterly adjusted earnings of $7.04 per share, beating the Zacks Consensus Estimate of $4.97 per share. This compares to earnings of $2.32 per share a year ago. The company posted revenues of $46.97 billion, surpassing the Zacks Consensus Estimate by 3.60%. GitLab Inc. GTLB reported quarterly non-GAAP earnings of $0.24 per share, which remained unchanged year over year and 33.33% above the Zacks Consensus Estimate. Quarterly revenues of $286.25 million rose 21.3% year over year and beat the consensus mark by 4.74%. As a result, stock prices of Dell Technologies and GitLab jumped 15.8% and 10%, respectively. Dell Technologies currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here. Automatic Data Processing Inc. ADP reported that U.S. private companies added 38,000 jobs in August, fewer than the upwardly revised 46,000 jobs in July. The consensus estimate was 47,000. New orders for manufactured goods in July rose 0.9%, beating the Zacks Consensus Estimate of 0.7%. The metric for June was revised upward to a decline of 0.2% from a drop of 0.3% reported earlier. In July, new orders for manufactured durable goods increased 1.1% and new orders for manufactured nondurable goods rose 0.7%. For the week ending Aug 28, commercial crude oil inventories (excluding the Strategic Petroleum Reserve) decreased 4.5 million barrels.

Stock Market News for Sep 3, 2026