Daily Recap: Business — 14 October 2026

Business news centers on a split screen between heavy investment and tighter discipline. Companies tied to AI and large-scale digital infrastructure keep attracting capital and lifting forecasts, while others cut jobs, sell assets or face sharper investor scrutiny over how aggres...

ASML raises its 2026 sales outlook after reporting stronger-than-expected profits, saying demand for advanced chipmaking equipment remains robust as AI investment accelerates. The company says customer orders are running ahead of what it can produce and now expects capacity to stay tight through 2028, underscoring how deeply AI spending is reshaping the semiconductor supply chain.

CoreWeave comes under pressure in debt and equity markets as investors question whether its AI buildout is becoming too borrowing-heavy. Its bonds drop to about 81 cents on the dollar and yields climb above 15%, while the stock falls sharply, signaling concern that enthusiasm for AI infrastructure is colliding with worries about leverage and funding risk.

Jio Platforms moves toward one of India’s biggest market debuts by filing IPO papers and setting a price band of Rs 1,065 to Rs 1,119 a share. The offer opens on October 21 for a three-day subscription window, with anchor investor bidding beginning earlier, marking a major step in Reliance’s effort to unlock value in its digital business.

Fairfax Financial secures approval to buy a 60.72% controlling stake in IDBI Bank, advancing one of India’s most prominent bank privatization deals. The transaction, valued at about Rs 52,878 crore, transfers the combined holdings of the government and Life Insurance Corporation of India, giving Fairfax control through its wholly owned subsidiary.

Portugal selects Lufthansa to buy a 44.9% stake in TAP Air Portugal in a deal valued at about €1.2 billion, pushing forward the airline’s privatization. The agreement gives Lufthansa a significant foothold in the Portuguese flag carrier and continues the broader consolidation trend in European aviation as major groups seek network and market expansion.

Netflix plans to cut about 1,000 jobs, or roughly 6% of its workforce, in its largest reduction since 2022. Management presents the move as a targeted reallocation of resources rather than a repeat of earlier broad downsizing, as the company adjusts to slower streaming growth and refocuses spending priorities.

Canara Bank reports second-quarter FY27 net profit of ₹5,175 crore, helped by stronger net interest income, lower provisions and improved asset quality. The results show earnings growth of roughly 8% to 9% from a year earlier, and the market responds positively as the lender posts healthier performance for the September quarter.

Ubisoft proposes closing Finnish studio RedLynx and cutting jobs at its Singapore operation, extending a broader restructuring effort. RedLynx, known for the Trials series, lacks a new project, while the Singapore studio supports work on Assassin’s Creed: Black Flag Resynced, showing continued pressure on game publishers to trim costs and refocus development resources.