Daily Recap: Business — 13 October 2026

Business news is shaped by two strong currents: companies are committing fresh capital to growth markets and strategic payments infrastructure, even as regulators and weaker earnings expose pressure points in finance, food supply and tech. The result is a day that mixes expansion...

Bank of America is ordered by the U.S. Treasury Department to pay about $1.21 billion over anti-money-laundering and sanctions compliance failures. The action ranks among Treasury’s largest and centers on lapses in detecting illicit activity and managing related national security risks at the country’s second-largest bank.

JPMorgan Chase posts a quarterly profit miss as momentum cools in investment banking and fixed-income, currency and commodities trading. The weaker result interrupts the bank’s recent run of outperformance, though equities trading holds up better and management points to continued support from net investment income.

Hyundai Motor Group says it will invest $15.5 billion in India through 2032, expanding both manufacturing and research. The plan deepens Hyundai’s commitment to one of the world’s fastest-growing major auto markets and positions the company to capture rising demand while building out a longer-term local operating base.

Visa receives approval from China’s central bank to begin preparations for a domestic bank card clearing business. The step opens the way for formal setup work in a tightly controlled payments market, though it does not yet permit Visa to process domestic card transactions inside China.

UnitedHealth Group beats expectations in the third quarter and raises its 2026 profit outlook again. The company now expects adjusted earnings per share of at least $20.50 for 2026, signaling confidence in its operating performance even as healthcare investors stay focused on cost trends and future margin pressure.

Australia’s competition regulator sues Sunny Queen and 11 other egg suppliers, alleging they coordinated to control egg supply and sales. The ACCC says the conduct dates back at least to October 2020 and involved collective decisions on production and distribution in a staple consumer market.

Character.AI files for Chapter 11 bankruptcy in Delaware and seeks approval to sell substantially all of its assets, with Disney offering $20 million for selected assets. The company says its chatbot and avatar platform is expected to keep operating during the court-supervised process as it pursues a sale by late November or early December.

India’s National Payments Corporation defers a proposed 0.4% merchant fee on selected person-to-merchant UPI transactions until after Diwali. The postponement delays a potentially sensitive change to the country’s dominant digital payments system during the peak festive shopping period, with a new start date still to be announced.