Daily Recap: Business — 28 August 2026

Business news is dominated by the Federal Reserve, as Kevin Warsh’s Jackson Hole remarks harden expectations that US interest rates stay higher for longer and ripple through global markets. Elsewhere, companies make big strategic and legal moves, while India lines up one of its l...

Federal Reserve Chair Kevin Warsh says inflation is not slowing enough and signals the central bank may need to tighten policy further unless there is clearer evidence that price pressures are easing. At Jackson Hole, he repeats the Fed’s commitment to bring inflation back to its 2% target, sharpening focus on the path of US rates.

Warsh’s Jackson Hole speech shifts the market debate over whether the Fed will keep raising rates, after strong July inflation data revive expectations of additional tightening. Investors look for any guidance on how firmly the central bank intends to respond, making the speech a key test for rate, bond and equity markets.

Asian stocks mostly rise as investors await Warsh’s speech for signals on the US rate outlook. The regional move comes after enthusiasm around Nvidia’s earnings cools, with traders turning their attention back to the broader US economy and monetary policy, which continue to set the tone for global risk appetite.

Jio Platforms wins approval from India’s securities regulator to launch an initial public offering that could raise about ₹37,700 crore, or roughly $4 billion. The listing is set to be one of India’s biggest, underscoring continued appetite for large technology and telecom offerings in one of the world’s fastest-growing major markets.

Walmart settles the US Justice Department’s opioid lawsuit, resolving federal claims over how prescriptions were handled at its pharmacies. The agreement closes a long-running legal fight for the retailer and removes a significant overhang tied to the broader wave of litigation over opioid distribution and dispensing practices.

BitGo acquires NYDIG’s institutional trading business, adding about 30 employees and a roster of trading relationships as it pushes deeper into crypto market services. The deal broadens BitGo beyond custody and settlement into derivatives and financing, reflecting continued consolidation and vertical expansion in digital-asset infrastructure.

Canada prepares to release June and second-quarter GDP figures after an unexpected contraction in the first quarter. The data are likely to shape views on the country’s economic momentum and could influence expectations for monetary policy, as investors assess whether the earlier weakness proves temporary or points to a broader slowdown.