Daily Recap: Business — 9 October 2026

Business news today centers on how companies are repositioning around uneven demand and the AI buildout. Consumer tech and travel face pressure from softer sales or higher costs, while listings, expansion plans and capacity constraints show capital still flowing toward payments,...

SoftBank is seeking up to $100 billion from Gulf investors to deepen its push into artificial intelligence. The effort underscores the scale of capital being chased for AI deals, with Masayoshi Son pursuing backing in the region as SoftBank looks to expand investments tied to the sector’s rapid growth.

Delta Air Lines cuts its 2026 adjusted profit outlook after a sharp rise in jet fuel costs swamps the benefit of strong travel demand. The airline says higher fuel prices will add about $6 billion to its 2026 cost base, even as passenger traffic and pricing remain resilient.

Apple has asked some suppliers to reduce component production for the iPhone 18 Pro and Pro Max after demand comes in weaker than expected. October component orders are reported to be down by at least 15%, and possibly as much as 20%, affecting production volumes for some suppliers.

Lumentum says its AI-related optoelectronic components are effectively sold out through early 2029 as data-centre customers race to expand capacity. The company links the shortage to demand for faster infrastructure in AI servers, cloud computing and high-speed data transmission as technology groups scale their networks.

Airtel Money starts conditional trading on the London Stock Exchange in an initial public offering valued at about £5.3 billion. The shares enter the market in a restricted conditional phase first, with the company expecting unconditional trading and full listing arrangements to begin later.

Netflix is reportedly preparing layoffs affecting about 5% of its workforce in a restructuring that could be announced as soon as next week. The planned cuts are expected to affect several hundred employees, though the company has not publicly confirmed the move.

Geely confirms it will enter Canada, with vehicle sales planned to begin in 2027. The Chinese automaker is laying the groundwork ahead of launch by building dealer and service networks and establishing an online presence, though it has not said which models it will bring to the market.

A Hancock Prospecting subsidiary is exploring mineral deposits in rural Ecuador as Gina Rinehart’s group expands its search for resources abroad. The work is being carried out through wholly owned unit Hanrine, which is focusing on identifying and developing deposits in the country’s interior.