Daily Recap: Business — 16 October 2026

Business news is shaped by a mix of policy caution, industrial protection and big capital bets. Central banks, governments and companies are all trying to navigate slower growth and tougher competition, while markets respond to shifting expectations on rates, regulation and strat...

Federal Reserve Chair Kevin Warsh declines to signal what the central bank will do at its October and December meetings, saying he will not prejudge upcoming rate decisions. He keeps the focus on price stability, leaving investors without a clearer path for interest rates as markets search for guidance on whether easing is still likely this year.

France and Germany reach a provisional deal to support Europe’s car industry as it faces weak demand, high costs and pressure from Chinese electric vehicle makers. The agreement relaxes parts of EU emissions rules for automakers and adjusts ‘Made in Europe’ conditions, while also allowing access for UK-linked partnerships and suppliers.

Reliance says its Jio satellite unit is still waiting for regulatory clearances, pushing back on claims that Indian business interests are blocking Starlink’s entry into India. The company says it welcomes competition and argues that both domestic and foreign satellite broadband operators are subject to the same approval process before launch.

EverWind proposes a more than C$10 billion AI data-centre campus in Nova Scotia, backed by private financing and linked to wind and hydrogen infrastructure. The project would be built on an existing industrial site in Cape Breton and, if completed, would rank as the largest privately funded investment in the province’s history.

South Korean stocks rebound more than 2%, snapping a run of heavy losses as the recent chip selloff eases and hopes improve for lower US interest rates. The KOSPI rises on buying in large technology names and other market heavyweights, giving investors a broad-based recovery after recent volatility.

India changes export levies on refined fuels, raising the duty on petrol exports to ₹2.5 per litre while cutting the diesel export levy to ₹8.5 per litre. The revised rates take effect on October 16, marking a fresh adjustment in the government’s management of fuel exports and domestic energy balances.

Urban Company reports a wider quarterly loss even as revenue climbs sharply, and its board approves plans to raise up to ₹2,500 crore through a qualified institutional placement or other convertible securities. The results show continued pressure from the InstaHelp segment, alongside the company’s effort to secure additional capital for growth.

Several Indian mutual fund houses temporarily halt fresh subscriptions into gold ETF fund-of-funds from October 16, just ahead of the festive buying season. The pause comes as demand for gold-linked products typically strengthens around Dussehra and Diwali, potentially affecting one route retail investors use to gain exposure to bullion.