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A year after Armani's death, firm faces challenge of 'inevitable evolution'

Industry executives and analysts warn, however, that a year on, the late designer's heirs and advisers must now focus on evolving, to keep the brand fresh and relevant

RBI steps in again to support rupee as oil prices, Asian currencies weaken

The RBI stepped up dollar sales near the start of Friday's session and continued its intervention through the day, helping the rupee withstand higher oil prices and weakness in Asian currencies

US job growth may rebound in August; unemployment rate forecast at 4.1%

US payrolls are expected to rebound in August as a temporary drag from local government education fades, though job losses linked to Haiti's protected status could limit the recovery

Asian shares climb as Fed rate hike fears ease ahead of US jobs data

Asian shares rose as investors awaited key US jobs data, while the yen rallied 2.6% this week after Fed Governor Christopher Waller eased fears of a rate hike

Chinese AI firm Moonshot files confidentially for Hong Kong IPO

The developer of the Kimi large language model is aiming to raise $3 billion, one of the people said, as per Reuters.

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.