Business news is led by fresh signs of strain and transition. A weak U.S. jobs report and another restructuring at Nike point to a softer backdrop for growth, while companies from Southeast Asia to global commodities push ahead with fundraising and rebranding moves. U.S. employe...
Business news is led by fresh signs of strain and transition. A weak U.S. jobs report and another restructuring at Nike point to a softer backdrop for growth, while companies from Southeast Asia to global commodities push ahead with fundraising and rebranding moves.
U.S. employers add just 29,000 jobs in September, well below expectations, and the unemployment rate rises to 4.2%. The figures sharpen concerns that the labor market is losing momentum after a long period of resilience, and they are likely to intensify debate over the economic outlook and the path for interest rates.
Nike plans more layoffs and a broader global reorganisation after weak quarterly results and a softer outlook, with China a key source of pressure. The company says revenue is set to fall again, projecting a high-single-digit decline in fiscal 2027, and its shares drop sharply as investors absorb the worsening sales picture.
Mynt, the parent of Philippine mobile wallet GCash, prices its IPO at P6.60 a share, below the top end flagged earlier. The offering is still set to raise about $1 billion, depending on an overallotment option, making it a major capital markets event for Southeast Asia’s fintech sector.
The U.S. Justice Department decides not to reopen a criminal investigation into former Federal Reserve Chair Jerome Powell over alleged cost overruns tied to the central bank’s renovation project. The decision removes the prospect of a renewed criminal probe around a politically sensitive issue linked to the Fed’s leadership.
Gunvor Group votes to rename itself Centalion Group and plans to shift its legal domicile to Singapore. The change, approved by the employee partnership that owns the commodities trader, is presented as part of the company’s evolution and gives the business a new global brand identity.
A new round of drilling results on the Australian market puts Solstice Minerals, Kantra Copper and Brazilian Rare Earths in focus. The updates highlight strong intercepts across different projects and help drive investor attention toward junior resource companies with potentially significant exploration upside.
Top Business stories
- Taiwan receives first F-16V fighter jets after long-delayed U.S. order (19 sources)
- US Adds 29,000 Jobs in September, Unemployment Rate Rises to 4.2% (7 sources)
- Masked gang forces man to transfer crypto after threatening pregnant wife during raid (6 sources)
- DOJ declines to reopen criminal probe into former Fed chair Jerome Powell (6 sources)
- Nike plans further layoffs and global reorganisation amid weak China sales (5 sources)
- Patriot begins expanded exploration at Peru’s Tassa silver corridor (4 sources)
- ASX drill results spotlight Solstice Minerals, Kantra Copper and Brazilian Rare Earths (4 sources)
- Mynt, GCash parent, prices IPO at P6.60 per share (4 sources)
Porter Gazette
Author at IfHighLow
