US EXPANSION
Services activity hits 3-month high in September on demand surge
The HSBC India Services Business Activity Index rose to 55.2 in September from 54.1 in August, although it remained below the 60.9 recorded in September 2025. A reading above 50 indicates expansion in activity, while a figure below that signals contraction.
ChatGPT retains AI lead, Claude climbs to third spot on web with nearly 1 billion monthly visits: Andreessen Horowitz
In its Top 100 Consumer AI Apps ranking, a16z noted that Gemini and Claude remain neck and neck in paid subscribers, even after Google migrated existing paid users to its AI plan, which boosted Gemini's subscriber count.
Global Market: AMD to increase AI chip supply substantially in 2027 to meet rising demand
AMD plans to substantially increase chip supplies in 2027 as demand for AI processors accelerates. CEO Lisa Su is working with key suppliers in Taiwan and South Korea to expand manufacturing and secure advanced wafer and memory capacity.
Lord’s Mark strengthens UK and UK allied market strategy with regulatory backing for IVD portfolio.
In an exciting development, Lord's Mark Industries has secured registration for its In-Vitro Diagnostic portfolio with the MHRA, significantly boosting market access. This follows the approval of their AI-enhanced Renalyx haemodialysis system in the UK. The firm aims for a December 2026 market launch for its IVD products, ahead of schedule, along with a planned January 2027 start for its pathology lab, highlighting its strong commitment to global healthcare integration.
Piyush Goyal steps up US outreach, pitches India to global investors for deeper investment ties
Union Commerce and Industry Minister Piyush Goyal held meetings with top executives from prominent investment firms and consumer companies. He discussed investment opportunities and partnerships with Blackstone, Neuberger Berman, and The Estee Lauder Companies. The discussions included India's manufacturing, sourcing, and its growing beauty and personal care market. Goyal's engagement aimed to strengthen investment linkages and explore further business opportunities.
US Dept of Energy announces up to $4.2 bn financing for nuclear upgrades in Pennsylvania, Ohio
The US Department of Energy has made a conditional loan commitment of $4.2 billion to Vistra. This funding will finance upgrades at nuclear power plants located in Pennsylvania and Ohio. The planned projects aim to increase total nuclear capacity by 433 megawatts while extending reactor operations by 20 years. The investment is anticipated to create around 3,000 jobs related to engineering and construction work.
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Sauce's Manu Chandra on consumer exits; Physical AI's regulation push
Sauce's Manu Chandra said he expects larger exits for investors of India's new-age consumer brands. This and more in today’s ETtech Morning Dispatch.
The US said China was priming a trade superweapon. Then it vanished
LOGINK, originally a project to improve cargo logistics, has seen its international efforts falter significantly. The platform lost key partnerships, withdrew from an international association, and is currently embroiled in legal disputes. Its operations hub in Wenzhou appears abandoned, indicating financial troubles that have emerged in recent years. Additionally, US pressure has contributed to its declining influence in global shipping.
Nvidia, Broadcom shielded as AI power crunch hits chip supply chain, says Morgan Stanley
The brokerage estimated last month that US data-center developers face a 34% net power shortfall through 2028, equivalent to 32 GW, after accounting for measures such as behind-the-meter generation and fuel cells
China’s loss could be India’s gain as Japan Inc sours on China
Japanese companies are reducing their presence in China due to rising competition and geopolitical tensions. They are now considering investment opportunities in India, which offers a large domestic market. Japanese financial institutions are also expanding their operations in India and viewing it as a promising destination. While Japan is diversifying its investments, it is still maintaining significant ties with China.
Global Market: Eurozone business activity hits 29-month high as price pressure intensifies
Eurozone business activity expanded at its fastest pace since April 2023 in September, driven by strong service demand and AI investments. However, inflation surged to 3.8% due to rising energy costs, fueling expectations that the European Central Bank will maintain higher interest rates or hike rates further by mid-next year.
Three friends, Rs 3 lakh & one chai idea: They ditched civil service preparation to start a tea outlet, today their brand has 650+ outlets & earns Rs 100 crore
Three friends from Indore turned their idea of selling affordable chai into Chai Sutta Bar, a business that started with Rs 3 lakh in 2016. Founded by Anubhav Dubey, Anand Nayak and Rahul Patidar, the brand has grown to over 650 outlets globally and now earns around Rs 100 crore.
Goldman sees US data center growth intact despite opposition
Goldman Sachs reported that political opposition is not significantly impacting the growth of US data centers. The firm has adjusted its capacity forecasts for 2026 and 2027, indicating ongoing demand. Data centers are essential for the functioning of AI models, contributing to their increasing prevalence. However, public support for new data centers remains low, with many opposed to local construction.
RBI could keep rates higher for longer amid global and local risks
With global financial risks in the spotlight, the Reserve Bank of India is indicating a shift towards higher interest rates. Governor Sanjay Malhotra has highlighted emerging challenges, including significant global debt levels and surging asset prices. The rise in US treasury yields and crude oil costs suggests trials ahead for the Indian economy.
India has decades of high growth ahead, AI for humanity vision: Jaishankar
External Affairs Minister S Jaishankar highlighted India's anticipated decades of growth during a recent Munich meeting. He emphasized the potential of emerging powers and India's unique demographic advantage in this context. Jaishankar also addressed India's approach to artificial intelligence as a model for social equity and public welfare.
In 1987, Ted Turner bought a 22,000-acre Montana ranch; two years later, he spent $21 million on a 113,000-acre property to keep it undeveloped
Ted Turner, the founder of CNN and longtime conservationist, lived in a remarkable collection of expansive ranches and properties during his lifetime. Before his passing on May 6, 2026, at age 87, Turner spent his final years on one of his Montana ranches, where he enjoyed fishing.
Sleepless on Wall Street: All-night stock exchanges coming soon
US equity exchanges will begin extended trading hours with an overnight session from 9 p.m. to 4 a.m. starting December 6. The changes aim to cater to growing foreign investor interest and compete with crypto markets. However, concerns about market liquidity and increased risks during these hours are prevalent among institutional investors. Pre-existing trading volumes suggest that institutional participation during night hours may be limited.
Amazon to invest $1 billion over five years in US data center communities
In a bold move, Amazon has pledged to pour more than $1 billion into the communities hosting its data centers, aiming to alleviate worries about resource consumption. Facing pushback due to environmental ramifications, the company, via Amazon Web Services, has also vowed to achieve water positivity by 2030. These steps are part of a broader strategy accompanying the expansion of its data center network across various states.
Global factory activity boosted by AI spending boom
As AI investments surge, manufacturing activity in Europe and Asia grows noticeably. India boasts significant expansion in its manufacturing sector, boosting business confidence and supporting hiring efforts. Meanwhile, South Korea and Taiwan are experiencing a revival in factory operations, driven by semiconductor and automotive demands.
India's manufacturing PMI hits 7-month high in September as domestic, export demand strengthen
India’s manufacturing activity accelerated to a seven-month high in September, with the HSBC PMI rising to 55.1 from 52.8 in August as stronger domestic and export demand lifted new orders and output. Factory production posted its sharpest expansion in four months, while hiring resumed and business sentiment improved.
BRICS isn’t killing the dollar. The world is learning to live without it
BRICS aims to decrease reliance on the US dollar by facilitating trade in national currencies among member countries. This trend is evident in energy transactions, particularly between Russia and China, with the rouble and renminbi being increasingly used. India's trade with Russia has further encouraged the use of rupees for oil purchases. The euro is becoming more common in international trade, but the dollar remains the dominant currency.
Paramount streaming shake-up: HBO’s Casey Bloys set to take over as Cindy Holland exits ahead of Warner Bros. mega merger
Cindy Holland has officially announced her exit from Paramount's streaming division, coinciding with a significant merger announcement. Paramount is set to acquire Warner Bros. Discovery for approximately $110 billion. The resulting combined streaming operations will be under the leadership of Casey Bloys from HBO. As the merger unfolds, details regarding the unified functionality of Paramount+ and HBO Max are still in the works.
CEAT expands Chennai plant to boost premium tyre production for India, global markets
CEAT has expanded its manufacturing capabilities at the Chennai plant across various tyre categories and segments. This expansion will enhance the production of advanced products for both domestic and international markets. The facility can now produce seven advanced Truck and Bus Radial sizes to meet changing commercial demands. Additionally, light truck steel radial tyre manufacturing capacity has been scaled up to address growing adoption.
Commerce minister Piyush Goyal woos American companies to co-invest in advanced manufacturing
Commerce and industry minister Piyush Goyal invited American manufacturers to expand in India and partner with Indian SMEs, highlighting opportunities in advanced manufacturing, technology, innovation and resilient supply chains.
US private job growth picks up sharply in September: ADP data
US private sector hiring experienced a significant rebound in September, with employers adding 90,000 jobs, up from 38,000 in August. This growth, led by the education, health care, and leisure industries, is accompanied by solid pay increases, although wage growth continues to lag behind inflation, impacting workers' purchasing power.
KKR to acquire Cisternina Logistics, plans to build pan-India liquid storage and logistics platform
KKR has announced a majority investment in Cisternina Logistics, which focuses on bulk liquid and gas storage. This investment will facilitate Cisternina's acquisition of Ganesh Benzoplast Limited's liquid storage terminal business. Additionally, the partnership aims to expand infrastructure across India, capitalising on long-term growth potential in the sector.
Canada changes rules for foreign workers, bars staffing agencies from sponsoring work permits
Foreign workers in Canada will face new regulations regarding Labour Market Impact Assessments, or LMIAs. These changes specifically address the role of staffing agencies and Employers of Record in obtaining work permits. Canadian businesses must determine the entity that controls and manages the employment relationship for foreign workers. Compliance with these regulations is critical for employers as they seek LMIA renewals.
Global Market: Prediction markets expand into Wall Street territory, raising oversight concerns
Prediction markets are expanding into US stocks, indexes and corporate events, with Polymarket and Kalshi driving growth. The trend raises concerns over investor protection, insider trading, transparency and regulatory jurisdiction, as the SEC and CFTC debate oversight while platforms increasingly attract retail and institutional traders seeking speculation and alternative hedging tools.
From India to the US boardroom: Why L-1A is becoming a strategic US-expansion route for Indian mid-sized businesses
Indian mid-sized and entrepreneur-led companies increasingly view the L-1A visa as a means to establish US operations. This visa allows for seamless transfer of executives or managers to lead local teams. Businesses are focusing on solid expansion plans and leadership strategies for sustainable growth in the US market. Securing an L-1A visa provides greater predictability compared to the H-1B lottery system.
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