Daily Recap: Business — 12 September 2026

Business news is shaped by geopolitics, political money and corporate restructuring. BRICS tries to project a common line on conflict and terrorism, while major crypto-linked donations, an alleged cartel mining operation and Oracle’s deeper job cuts show how capital and risk are...

BRICS leaders issue a joint declaration at their New Delhi summit calling for maximum restraint in the Middle East war. The group expresses deep concern over the conflict and backs a multilateral approach that takes account of different national positions, underscoring the bloc’s effort to speak collectively on a volatile geopolitical crisis with economic consequences.

The BRICS declaration also explicitly condemns the Pahalgam attack and says all acts of terrorism are criminal and unjustifiable regardless of motive or perpetrator. The statement reaffirms a zero-tolerance approach to terrorism, adding a sharper security message to the summit’s broader call for coordination among member states.

Donald Trump says Iran is probably responsible for the aerial attack that shuts down Saudi Arabia’s East-West crude oil pipeline. The strike affects a major export route, putting energy infrastructure and regional tensions back at the center of market attention as Washington and Riyadh weigh the implications.

Oracle raises the expected cost of its 2026 restructuring plan by another $700 million, bringing the total to about $2.8 billion. The added charge is largely tied to severance as the company plans further workforce reductions, after already recording roughly $2.1 billion in restructuring expenses.

Reform UK receives a second £36 million donation in two days, this time from crypto investor Christopher Harborne. The contribution matches an earlier £36 million gift from Ben Delo and is intended to help the party prepare for the next general election, marking an unusually large infusion of crypto-linked political funding.

Police in Mexico uncover a hidden cryptocurrency mining farm in a remote mountain area that investigators link to alleged cartel funding. The makeshift site, tucked near a little-used gravel road and identified by the noise of mining equipment, highlights how digital asset operations can be used in illicit financing networks.

HDFC Bank submits two candidates to the Reserve Bank of India for appointment as managing director and chief executive officer. The step advances succession planning at India’s largest private-sector lender, with the central bank now set to review the names before the bank can move ahead with a leadership decision.