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PayPal cuts 220 India jobs as part restructuring plan announced earlier

The firm has outlined extensive cost-saving measures this year under newly appointed CEO, Enrique Lores, as it seeks to sharpen its competitive position in the crowded payments market.

El Nino may become strongest ever, raise extreme weather risks: WMO

"If this trajectory continues, it may ​be stronger than anything since our monitoring began. So literally off the charts," WMO Secretary-General Celeste Saulo told a Geneva press conference.

Broadcom raises AI chip sales forecast to $115 billion by 2028

Broadcom, whose custom AI chips are used by companies including Meta Platforms, Google and OpenAI, ​said it now expects AI chip revenue of about $115 billion in the fiscal year ending Oct 2027

Sebi proposes net settlement of cash market trades for mutual funds

The proposal would extend to domestic mutual funds a facility that the Sebi already permitted for foreign portfolio investors earlier this year

India's new closing auction pushes options traders to smaller bets

India's new closing auction is prompting options traders to cut positions and add hedges as sharp swings in the final 15 minutes make closing levels harder to predict

Canada probes fake food labels in India over possible risks to imports

Canada's food safety agency is assessing whether an Indian operation that used fake expiry dates and nutrition information on food products poses a risk to imports

Oil prices edge lower as markets weigh renewed US-Iran supply risks

Brent crude fell 0.45% to $95.20 a barrel while WTI slipped 0.26% to $90.77 as investors weighed the risk of renewed US-Iran strikes disrupting West Asian supplies

Global stocks climb as investors watch US-Iran conflict, yen surges

Global stock indexes mostly rose after three days of declines, while the yen jumped sharply and US Treasury yields eased as investors tracked the latest developments in the US-Iran conflict

US government backs OpenAI in New York Times', others' copyright case

US separately told G20 officials at a meeting in North Carolina on Wednesday that their countries should ‌embrace fair use and allow AI ​companies to train their models on creators' work

China's Xi urges new Middle East security framework during Egypt visit

Xi also said China was ready to work with regional countries to safeguard shipping routes, an issue that has taken on greater importance after conflict disrupted traffic through the Strait of Hormuz

US private payroll growth slows in August; factory orders rebound in July

Education and health services payrolls increased by 45,000 positions. The leisure and hospitality sector added 16,000 jobs, while financial activities payrolls rose by 6,000.

EU seeks new Russia sanctions after drone attack as Germany probes sabotage

Lithuanian Foreign Minister said, "Our goal is to show that these activities will neither intimidate us nor prevent us from supporting Ukraine and maintaining our pressure on Russia."

Indonesia's 2027 palm oil output to drop 2.9% to 56.8 MT, GAPKI says

"Due to dry weather, many companies have stopped fertilising, because even if we apply fertiliser, it would be wasteful as it will vaporise," ​GAPKI secretary general Hadi Sugeng said

Two oil tankers disabled after hitting mines: Iran's Revolutionary Guards

The tankers had been forced ​to disembark their crews and were placed in the ‌hands ​of ‌U.S. operatives to pass through ‌what it called ​an "illegal route" in the strategic waterway

Berkshire CEO Greg Abel sees opportunity for energy business from AI

Abel said ​Berkshire's energy business could ‌also benefit from AI growth, given the ‌amount of electricity needed to run data centers.

Cook hands Apple to Ternus: Bigger and richer, but catching up in AI race

Cook will become executive chairman on September 1, guiding Apple's dealings with ‌policymakers amid tense relations between its home market

Yotta planning to launch IPO in Q4FY27, to seek up to $1.5 bn amid AI boom

The Hiranandani Group-backed firm is looking to file draft IPO papers in October and aims to raise up to $1.5 billion to repay debt

OpenAI says Apple has only itself to blame in trade-secret fight

Apple sued OpenAI and former Apple employees Tang Tan and Chang Liu in July, accusing them of misappropriating trade secrets related ‌to hardware design, manufacturing and supply-chain operations

TCL sues Samsung for false advertising over 'Mini LED' televisions

The lawsuit, filed on Monday, alleges Samsung falsely marketed its M Model televisions as featuring the technology, which is designed to improve picture quality

US call for hands-off approach to AI regulation at G20 tech meeting

The US goals largely align with the thinking of the world's biggest AI companies, nearly all of which are American