The Economic Times

Gold and silver prices gain on MCX as a weaker US dollar and easing Treasury yields support bullion. Investors assess inflation risks and the Federal Reserves rate outlook, while traders track key support and resistance levels.

A shooting incident in New York City resulted in a federal immigration officer injuring a Dominican man. The event occurred during an ICE targeted enforcement operation, which has raised concerns among local officials. Witnesses reported gunfire as the man was apprehended while inside a vehicle. Protests erupted in reaction to the shooting, with demonstrators calling for an end to ICE operations.

Southwest Airlines is evaluating the Boeing 787 Dreamliner as its potential first widebody jet. The airline has maintained discussions concerning long-haul international flights and its fleet expansion strategy. It is also exploring options to acquire aircraft through lessors or the secondary market. Southwest currently operates an all-Boeing 737 fleet, while Airbus is also being considered for future needs.

Coca-Cola is reportedly seeking to unwind its $5 billion acquisition of Costa Coffee after a failed sales process. The beverage company previously scrapped plans for selling Costa due to low offers from private equity firms. In 2018, Coca-Cola acquired Costa in its strategy to expand into healthier beverages. A strategic buyer considered a deal for Costa but ultimately passed on the opportunity.

Mumbai and nearby districts are currently under a yellow alert for potential heat-wave conditions. The India Meteorological Department forecasts dry weather following the retreat of the southwest monsoon. Economic analysts are monitoring agricultural impacts due to rising temperatures and potential food inflation risks. Weather patterns in the region will influence future policy decisions regarding economic conditions. Normal weather conditions are anticipated to return by October 12, 2026.

SpaceX has reached an agreement to acquire a nationwide low-band spectrum license portfolio for Starlink Mobile. This acquisition will enhance Starlink Mobile's capabilities as a telecom operator in the United States. The existing global 2 GHz mid-band spectrum will ensure high-bandwidth capacity for users. Additionally, the new low-band spectrum will help their signal penetrate through obstacles effectively.

New York City Mayor Zohran Kwame Mamdon called for an immediate end to ICE operations following a shooting incident. An ICE agent shot a man in the Bronx while he was in a car with a five-year-old child. Hundreds of protesters gathered outside the hospital, demanding that ICE leave their neighborhoods and streets. The man is recovering, and the incident is under investigation by multiple agencies.

Delhi Police has warned against the upcoming Cockroach Janata Party protest scheduled for October 10. Deputy Commissioner Shrishti Pandey stated that Section 163 is in effect, making any gathering illegal. She urged individuals not to participate in such unauthorized protests for their own safety and the safety of their families. Ongoing investigations into previous violence during the CJP protest are also being conducted by the Delhi Police Crime Branch.

Karnataka Chief Minister DK Shivakumar addressed media after the GST Council meeting concerning pending central grants. He mentioned that Union Finance Minister Nirmala Sitharaman provided some encouraging updates on this matter. Shivakumar opposed the proposal for criminal cases against those not paying GST, advocating for a more constructive approach. The meeting also confirmed that significant procedural reforms were approved and the existing GST rates will remain unchanged.

In a dramatic display of discord, two Congress leaders were seen exchanging slaps during a protest in Faridabad, emphasizing internal strife within the party. This incident occurred amid demands for Chief Election Commissioner Gyanesh Kumar's resignation, linked to allegations of electoral misconduct. Meanwhile, Opposition leaders convened in Delhi to plan their next moves as FIRs against several members were filed following previous protests, raising alarms about pertinent voter deletion issues

American Express received a fine of $350 million due to failures in their anti-money laundering compliance programs. The US Office of the Comptroller of the Currency and the Federal Reserve announced this enforcement action. The company reportedly failed to identify and report suspicious activities, amounting to roughly $13 billion over the past decade. Specifically, their customer due diligence practices and identification measures were deemed inadequate.

Brent crude fell 1% to $103, while West Tax Intermediate was down 0.75% to $90.5. In the previous session, Brent crude futures settled $4.08, or 4.1%, higher at $104.28 a barrel, while US West Texas Intermediate crude gained $3.21, or 3.6%, to close at $91.49. Both contracts rose more than $5 a barrel at one point, with Brent hitting its highest level since September 29.

Apple has appointed Steve Smith to head mergers and acquisitions, transitioning from Adrian Perica's previous role. Adrian Perica will now focus solely on the services division and report to Eddy Cue. The memo detailing the changes also mentioned Carson Oliver's promotion to vice president of the App Store. Apple continues to implement management shifts under the leadership of CEO John Ternus.

On Friday, gold prices experienced a modest uptrend as investors weighed concerns about inflation alongside potential interest rate hikes by the Federal Reserve. Spot gold saw a 0.3% increase, while US gold futures for December rose by 0.4%. St. Louis Fed President Alberto Musalem hinted at the necessity for further rate adjustments to combat inflation.

The United States has announced a new round of sanctions against Iranian entities and individuals involved in oil trade. These actions focus on disrupting Iran's oil revenues and targeting its sanctions-evasion networks. The Treasury identified 27 companies, six individuals, and 22 vessels in its sanctions list. The measures are part of Operation Economic Outcast and seek to diminish Iran's economic lifelines.

Hurricane Isaias is predicted to become a dangerous storm as it approaches the Gulf Coast. Preparations are underway, including evacuations and securing boats in coastal areas. The hurricane could bring severe weather, including high winds and heavy rainfall, affecting multiple states. Oil production is also being impacted significantly due to shut down operations in the Gulf. Communities are urged to prepare as conditions are expected to rapidly deteriorate.

PepsiCo plans to raise prices on certain snack foods and beverages due to increased costs. The price increase will be in the single-digit percentage range, although it remains lower than earlier this year. Consumption patterns indicate demand in their international market, contributing to a revenue rise of 5.6%. However, the North American beverage business continues to struggle, leading to adjusted earnings expectations.

Donald Trump presented Elon Musk with the top US science medal on Thursday, as the rocket tycoon fully returned to the president's orbit after an explosive bust-up. Trump and Musk gave an amiable if awkward performance on Thursday, with president patting the tycoon on the back and giving him a wooden case containing his medal.

Meta has implemented an immediate ban on advertisements from ByteDance across its platforms in multiple countries. This decision affects various locations including the US, Canada, and Japan. The ban also targets related third-party advertisements referencing TikTok and other ByteDance services. In response to this rivalry, Meta asserts that it will continue competing on quality and user experience. TikTok has yet to publicly comment on Meta's advertising ban and actions.

The US military will execute Nidal Hasan by firing squad at Fort Hood. Hasan, responsible for the 2009 Fort Hood shooting, will be the first to face this execution method since 1945. Defense Secretary Pete Hegseth announced that the execution will be made public and livestreamed. This decision underscores the seriousness of the consequences for such actions in the military.

A Bitcoin stash worth about $29 when mined in 2010 has moved for the first time in roughly 16 years. The 100.02 BTC was transferred on October 7 and was worth around $8.3 million at the time, with the coins sent to two new addresses.

OpenAIs annualized revenue reached about $50 billion at the end of September, nearly $20 billion below earlier reports. The update sent Nvidia, Oracle and CoreWeave shares lower, while new figures showed OpenAIs revenue run rate had still grown more than 70% since the start of the third quarter.

The Moon has a new man-made crater. A discarded SpaceX Falcon 9 stage struck the lunar surface on August 5, 2026, near Einstein Crater. NASA, South Koreas Danuri orbiter and Earth-based telescopes tracked the impact. Scientists are now studying the debris and chemical clues to better understand lunar impacts.

PwCs Pratik Jain said the GST Councils latest measures mark the third phase of the tax reform, shifting focus to bolder policy changes and ease of doing business. He said wider refunds for input services and capital goods, along with ITC on employee insurance, could ease working-capital stress and lower costs.

Deloitte Indias MS Mani said the latest GST reforms reflect growing trust between government and industry, with technology enabling simpler compliance and more targeted enforcement. He said easier registration, annual returns with quarterly payments, return corrections and removal of arrest provisions could reduce compliance fears and bring more businesses onto the GST platform.

EY partner Bipin Sapra said the GST Councils latest reforms address input tax credit blockages, expand refunds, support exporters and streamline tax administration. He said rationalising Section 17(5) could reduce tax cascading and costs for businesses, while decriminalisation and removal of arrest powers should create a more conducive business environment.

From its rollout in 2017 to GST 2.0, Indias goods and services tax has evolved into a more digitised and predictable tax regime. Over nine years, the system has seen changes in tax rates, slabs, compliance and technology, reshaping how businesses manage indirect taxes and interact with the tax administration.

Apple is set to unveil several smart home products at its upcoming event on October 13, including a smart home hub. This new hub is expected to have a 6-inch display and will combine various functionalities. Updates to the HomePod mini and Apple TV 4K are also anticipated, featuring improved technology and capabilities. The event will take place in New York and may include a hands-on experience for media members.

A shipment containing sensitive F-35 components was mistakenly routed through Hong Kong due to a communication failure. The parts were initially supposed to travel through South Korea and Taiwan, which are US allies. A missed warning from a freight forwarder, indicating US export restrictions, allowed the error to occur. US authorities are investigating the circumstances of the routing and its implications for military supply chains.

Fast Retailing, the owner of Uniqlo, has recorded a 32% boost in yearly profit fueled by soaring sales. The company has reached a key milestone as North America and Europe now outpace China in market size, addressing the challenges presented by declining sales in the Chinese market.

Chipotle stock jumped after a report that Starbucks has explored a potential takeover of the Mexican fast-casual chain. Heres what the reported interest means for CMG stock, Brian Niccols connection and Chipotles international expansion plans.

Sean Diddy Combs is serving a 50-month sentence at FCI Fort Dix due to his recent conviction. Reports indicate he leads a luxurious life behind bars with special treatment from others. Combs allegedly has people cooking for him and providing massages while serving his sentence. He has been seen using a contraband cellphone for personal purposes, which raises security concerns.

Columbus Day 2026 is set for Monday, October 12, and will be recognized as a federal holiday. As a result, all federal offices and courts will be closed, while the U.S. Postal Service will not deliver regular mail. Many private businesses, including grocery stores and restaurants, will remain open, though hours may vary. Banks may also alter their operations, reflecting the status of Columbus Day as a Federal Reserve holiday.

Four Chinese zodiac signs may finally feel life getting calmer after October 9.The Fire Dragon Destruction Day helps Rooster, Rat, Monkey and Dragon clear stress, set stronger boundaries and regain control.

The Trump administration has opened direct talks with Myanmars military-installed government, US officials said, marking a shift from Washingtons post-coup isolation policy. Talks led by Assistant Secretary Michael Vance initially focused on shutting scam centres targeting Americans and securing an Americans release, but could expand to Myanmars rare-earth resources.

Microsoft stock fell nearly 2% as the US targeted Microsofts green card filings for H-1B workers, while Italy opened an investigation into Microsoft-owned gaming companies over virtual currencies, consumer protection and gaming practices.

The Trump administration has suspended major tech companies from applying for permanent residency for foreign workers. Various companies, including Microsoft and Adobe, have been accused of abusing the H-1B visa program. U.S. Vice President JD Vance claimed that Microsoft replaced laid-off American workers with foreign workers. Labor Secretary Keith Sonderling stated that nearly 3 million foreign workers were requested by these companies.

'Something weird is going on': JD Vance announces probes into colleges for potential visa fraud

With the midterm elections approaching, only 30% of Trump voters express strong enthusiasm about voting. In contrast, 48% of Harris voters are very enthusiastic, indicating a significant gap. This discrepancy may affect overall voter turnout in the upcoming elections. Meanwhile, Trump's approval rating has reached a record low, which is impacting his supporters' motivation. Addressing these challenges is crucial for both parties as they prepare for November 3.