1 , 13The US markets started the new trading week on a mixed note while the Dow Jones made a new high but pulled back from those levels. The Dow Jones made a new high of 41,420 before falling from those levels. Still, the index managed to close above the flat line. However, the S&P 500 slipped 20 points from the record high and ended 0.3% lower while the tech-heavy Nasdaq fell 0.8% as investors opted to book some profits after a sideways move following the August 5 sell-off.
2 , 13Uber Technologies Inc. has been fined a record 290 million euros ($324 million) by the Dutch privacy watchdog for not following European security standards when sending sensitive data about its drivers to the U.S. The Dutch Data Protection Authority said Uber was collecting drivers' information from Europe, such as taxi licenses, location data and in some cases criminal and medical data, and maintaining them on servers in the U.S. The fine is the largest ever levied by the Dutch watchdog against any company, a spokesperson said via email. It is also the largest fine Uber has received globally.
3 , 13Canada will impose new tariffs on Chinese-made electric vehicles, aluminum and steel, Bloomberg reports, working closely with Western allies and taking steps to protect domestic manufacturers. The government announced tariffs of up to 100% on electric cars and 25% on steel and aluminum, confirming an earlier report from Bloomberg News. Prime Minister Justin Trudeau unveiled the policy on Monday in Halifax, Nova Scotia, where he has gathered with the rest of his cabinet for a series of meetings about the economy and foreign relations.
4 , 13Apple has confirmed the date for its much-awaited September event where it is expected to launch its latest iPhone lineup – September 9. Popular YouTuber Marques Brownlee, better known as MKBHD, confirmed this in a post on X, which showed the iPhone maker's invite. Previous reports and rumours have suggested that Apple may launch the iPhone 16 series alongside new Apple Watch models and AirPods. More details from Vijay Anand here.
5 , 13Longtime Apple Inc Chief Financial Officer Luca Maestri will step down at the end of the year and hand over the role to top deputy Kevan Parekh after more than a decade. Parekh, 52, will become CFO on Jan. 1 in what Apple has described as a “planned succession.” Maestri, who has been CFO since 2014, will remain at Apple in a lesser role and continue to oversee information technology and real estate functions, the company said on Monday.
6 , 13International Business Machines Corporation is shutting down its hardware research team in China, Bloomberg reports. This is partly due to geopolitical tensions between the world's two largest economies. The China-based team was focused on research and development of hardware such as servers and storage and the closure will affect fewer than 1,000 employees, according to a person familiar with the decision. Job functions will be moved to other countries, particularly India, the person said.
7 , 13The market needed a dose of vitamin-P at the start of the expiry week and so it got it. Jerome Powell's speech triggered a massive rally on Wall Street and to some extent on Dalal Street as well. Nifty came back above the 25,000 mark, a level last seen earlier this month. It turned out to be a day when benchmark indices outperformed the broader markets. Gift Nifty is indicating a slightly slower start with a negative bias for our own markets.
8 , 13Bajaj Auto, the leader in the CNG three-wheeler segment with 80% market share, is now aiming to achieve similar dominance in the electric three-wheeler market. The company currently has a 36% share in the electric three-wheeler segment but has set a target to capture 80% of the market. In an exclusive conversation with CNBC-TV18, Bajaj Auto Managing Director Rajiv Bajaj highlighted the company's success in the electric auto-rickshaw and electric cargo vehicle segments, where it has already emerged as the market leader. With years of experience in manufacturing and exporting CNG three-wheelers, Bajaj Auto entered the electric three-wheeler market in May last year. Read more about this exclusive conversation here.
9 , 13Reserve Bank of India Governor Shaktikanta Das on Monday (August 26) announced the launch of the Unified Lending Interface (ULI). This is a step towards revolutionising India's lending system. ULI aims to simplify and speed up the loan appraisal process, especially for small borrowers. More details here by Anshul.
10 , 13Aditya Birla Group flagship company UltraTech Cement Ltd on Monday (August 26) said it has successfully raised $500 million through a sustainability-linked loan with participation from six banks. This transaction is the second sustainability-linked financing by UltraTech, following its inaugural sustainability-linked bond issuance in 2021, UltraTech Cement said in a regulatory filing.
11 , 13Medi Assist Healthcare Services Limited on Monday (August 26) said its wholly-owned subsidiary Medi Assist Insurance TPA Private Limited will acquire 100% equity stake in Paramount Health Services and Insurance TPA Private Limited (Paramount TPA) for ₹311.8 crore. Paramount Health Services and Insurance TPA is owned by Fairfax Asia and Dr. Nayan Shah and his family. The acquisition is one of the largest TPA deals in India and the equity value is expected to exceed ₹400 crore.
12 , 13The Food Safety and Standards Authority of India (FSSAI) has issued a clarification on the sale and marketing of milk and other products like ghee with the name 'A1' and 'A2' under their license number or registration certificate number. After examining the matter, FSSAI said that the 'A1' and 'A2' differentiation of milk is essentially linked to the difference in the structure of the protein (beta-casein).
13 , 13The National Conference (NC) and the Congress have agreed to contest 51 and 32 seats respectively in the upcoming Jammu and Kashmir Assembly elections. The announcement was made during a joint press conference held after a day of talks at the residence of NC president Farooq Abdullah.