Daily Recap: Business — 12 October 2026

Business news is split between pockets of growth and fresh caution. Strong fund inflows, a solid Indian tech earnings report and a major quantum-cybersecurity deal point to investor appetite for expansion, while market volatility, security risks and pressure on consumer-facing bu...

Chinese carmakers accelerate exports as weakness at home pushes more vehicles abroad. Passenger-car exports reach about 919,000 in September, up 64% from a year earlier, and top 7.1 million in the first nine months of 2026. The surge comes as domestic passenger-car sales fall for much of the year, including a 27% drop in September.

South Korean stocks slide sharply as a technology sell-off drags down the broader market. The KOSPI falls more than 3% on Monday, with major chip and electronics shares including Samsung Electronics and SK hynix leading losses. Middle East tensions and inflation worries add to the pressure on investor sentiment.

Indian equity mutual funds draw stronger inflows in September, extending a long run of retail participation. Equity-oriented schemes take in ₹38,306.55 crore, up about 31% from August and marking a 67th straight month of inflows. Systematic investment plan contributions hit a record ₹32,490 crore even as the wider fund industry posts net outflows.

HCLTech posts higher second-quarter profit and lifts its full-year revenue guidance, helped by stronger demand in AI-related work. Net profit rises about 21% from a year earlier to roughly ₹5,132 crore, while revenue reaches around ₹35,620 crore. The results broadly meet market expectations and reinforce steadier spending in selected technology services.

IonQ agrees to buy cybersecurity firm Elisity in an all-stock transaction valued at up to $1.3 billion, expanding beyond quantum computing into zero-trust security. The deal includes up to $150 million in performance-based incentives tied to business milestones. IonQ expects the acquisition to close by year-end, subject to customary conditions.

Delta delays the launch of nonstop flights between Atlanta and Riyadh after attacks at Riyadh’s main airport disrupt operations and raise safety concerns. The weekend strikes at King Khalid International Airport kill at least a dozen people and injure hundreds. The postponement shows how regional conflict is spilling into commercial aviation planning.

Dangote Petroleum Refinery and Petrochemicals extends the deadline for its initial public offering to October 27. The two-week extension gives investors more time to submit applications and comes as interest in the share sale builds. The move keeps one of Africa’s most closely watched capital-raising efforts open longer to potential buyers.

HMV plans to close its Oxford Street flagship in March 2027 after saying proposed rent terms would make the site uneconomic. The London store at 363 Oxford Street has been operating for about three years. The retailer says it is now seeking another location in the West End.