Frosty’s Ledger — Monday, 28 September 2026 edition

Economy & Policy

Here’s the List of Goods the US, China Agreed on for Tariff Cuts

The US and China released lists of the $30 billion worth of goods they plan to cut tariffs on, though without providing details on how much levies would be slashed.

Mint·BS·Reuters·CNBC·NDTV Profit·ET·+17 papers9:29 AM

Trump-Xi summit yields $30 billion tariff cuts each way; toys, appliances among goods coveredMoneycontrol

Markets

Sensex today | Stock Market Highlights: Sensex tanks 1,124 points, Nifty ends below 22,800

Sensex, Nifty, Share Prices Highlights: Indian equities suffered a sharp sell-off on Monday as rising crude oil prices, geopolitical uncertainty, foreign fund outflows and weak global cues pushed the Sensex and Nifty to near six-month lows.

BusinessLine·Mint·NDTV Profit·Moneycontrol4 papers4:40 PM

World

Oil prices jump over 4% as Trump rejects Iranian proposal to reopen Strait of Hormuz

Oil prices jumped on Monday after U.S. President Donald Trump rejected an Iranian peace proposal aimed at ending the conflict.

CNBC·Guardian·Moneycontrol3 papers4:09 PM

Oil prices spike after Trump rejects Iran truce offerThe Hindu
Brent crude price rises above $106 as Trump rejects Iran’s proposalBusinessLine

Economy & Policy

SC asks Centre to explain UPI charges above ₹2,000, refuses to stay levy

The Supreme Court has asked the Centre to explain the basis for UPI charges above ₹2,000, but refused to stay the new framework set to take effect from October 15…

BS·BusinessLine·Moneycontrol3 papers3:21 PM

World

Police 'investigate Iran link' to suspected bomb plot at UK air base used by U.S.

U.K. counter-terrorism police are understood to be investigating a potential link with Iran after an alleged bomb threat against an air base hosting U.S.

CNBC·ET·WSJ3 papers5:02 PM

Economy & Policy

Industrial production grows 8% in August, manufacturing up 9%: Govt data

India's industrial production grew 8 per cent in August 2026, led by 9% manufacturing growth and a 12.3% rise in electricity and gas supply…

BS·Mint·BusinessLine·Moneycontrol4 papers4:36 PM

Technology

Nvidia releases safety software tools to stop AI agents from misbehaving

Nvidia has launched software tools to contain rogue AI agents, saying they could have prevented the Hugging Face breach as OpenAI and Anthropic investigate similar agent-related hacks…

BS·CNBC·NDTV Profit·WSJ4 papers3:54 PM

Nvidia releases AI safety software it says could have stopped Hugging Face hackReuters

Technology

Trump to have dinner with Anthropic CEO Amodei at the White House

Athropic CEO Dario Amodei is set to have dinner with President Donald Trump at the White House on Sunday.

CNBC·Mint·ET·WSJ4 papers12:53 AM

Your Watchlist

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Nifty Movers

Today’s session

Top losers

Tata Motors PV▼ 3.00%
Adani Enterprises▼ 2.93%
Jio Financial▼ 2.86%
Power Grid▼ 2.84%
L&T▼ 2.83%

The Week Ahead

Times in IST

Fri2OctMarkets closedNSE & BSE shut for Gandhi JayantiIN
Fri2OctUS jobs reportSeptember payrolls · 6:00 PM ISTUS
Wed7OctRBI policy decisionRate call after the 5–7 Oct MPC meeting · 10 AM ISTIN

The CFA & CA Lens

Today’s news, exam-style

CFA Level I

Economics

Tariffs & trade

In the newsHere’s the List of Goods the US, China Agreed on for Tariff Cuts

A tariff is a tax on imports. It shields domestic producers but raises prices for consumers and often invites retaliation.

Exam angleFor a small importing country a tariff creates a deadweight loss: consumers lose more than producers and the government gain.

Alternative Investments

Oil prices & India's economy

In the newsSensex today | Stock Market Highlights: Sensex tanks 1,124 points, Nifty ends below 22,800

India imports most of the oil it uses, so pricier crude widens the trade deficit, weakens the rupee and pushes up inflation, all at once.

Exam angleBackwardation (spot above futures) signals tight near-term supply; contango (futures above spot) signals plentiful supply and storage costs.

Equity Investments

Payments & network effects

In the newsSC asks Centre to explain UPI charges above ₹2,000, refuses to stay levy

UPI moves money instantly between bank accounts. The MDR is the fee a merchant pays on each digital payment, and who bears it shapes how widely it is used.

Exam angleNetwork effects: each new user makes a platform more valuable to every existing user, which can build a strong competitive moat.

CA · ICAI

CA Final · Advanced Financial Management

Hedging currency risk

In the newsIndian central bank likely shielding rupee as US-Iran impasses lifts oil prices, traders say

Exporters and importers use forward contracts to lock in today the exchange rate they'll get when the payment actually arrives.

Exam angleForward rate by interest rate parity (direct quote): F = S × (1 + r_home) ÷ (1 + r_foreign). An exporter hedges by selling dollars forward.

CA Final · Financial Reporting

Share issue costs in an IPO

In the newsNSE shares slip below IPO price after lackluster India debut

An IPO's costs — bankers, lawyers, listing fees — don't all hit the profit and loss account.

Exam angleInd AS 32: costs of issuing new shares are deducted from equity; costs of listing existing shares are expensed. Shared costs are split between the two.

CA Inter · Financial Management

Capital budgeting

In the newsNMDC commissions ₹5,427 cr integrated iron ore project in Chhattisgarh

A new plant or data centre is only worth building if the cash it throws off, discounted at the cost of capital, beats what it costs.

Exam angleAccept if NPV > 0. Payback period is simple but ignores the time value of money and cash flows after payback.

Markets

17 stories

Indian central bank likely shielding rupee as US-Iran impasses lifts oil prices, traders say

The rupee has already seen a decline of 0.1 per cent, to 95.89 per dollar, with the central ‌bank's presence helping it hold above the 96 mark…

BusinessLine·NYT·WSJ3 papers9:35 AM

Gold’s next leg higher faces hurdle as yields rise, Fed rate-hike bets return

Moneycontrol·ET·WSJ3 papers9:41 AM

NSE shares slip below IPO price after lackluster India debut

The stock fell as much as 1.8 per cent to ₹1,761 on Monday, below the IPO price of ₹1,785…

BusinessLine·ET2:57 PM

Trump says US is ‘very seriously’ considering diesel export ban to tackle high prices

The administration is weighing several measures as global fuel disruptions, refinery attacks and strong overseas demand pressure the US diesel market…

BusinessLine·BS·CNBC3 papers5:40 AM

Goldman expects initial diesel price decline under US export curbsReuters

Tamil Nadu CM Vijay launches gold ring scheme for newborns: How much gold is offered and how can parents claim it?

Tamil Nadu's Chief Minister C Joseph Vijay will launch the gold ring scheme for newborns at Government Rajaji Hospital in Madurai on 28 September. Full details here.

Mint·BusinessLine·Moneycontrol3 papers11:20 AM

CM Vijay to launch Tamil Nadu gold ring scheme on 28 Sept: What is it, who is eligible and how does it work? | ExplainedMint

Rupee falls 20 paise to 95.95 against US dollar during early trade

The rupee depreciated 20 paise to 95.95 against the US dollar in early trade on Monday, as the greenback strengthened further and foreign fund outflows continued unabated amid the ongoing West Asia conflict.

BS·BusinessLine·The Hindu3 papers10:15 AM

Rupee falls 28 paise to close at 96.03 against US dollarBusinessLine
Rupee opens 7 paise lower at 95.88 against the dollar as Brent climbs againMoneycontrol

Gold & Silver

Gold and silver price today, Sept 28: Check retail rates of 24K, 22K gold and 999 silver in Mumbai, Delhi, other cities

Gold and silver prices in India witnessed a sharp drop during early trading hours on Monday. Check retail rates of the precious metals in top metro cities of the country.

Mint·Moneycontrol·ET3 papers9:14 AM

Also in Markets

Economy & Policy

17 stories

El Nino threatens rabi crops in rainfed areas, may affect output: Agri secy

The upcoming rabi (winter) season is likely to be challenging for rainfed areas due to the El Nino weather pattern, and foodgrain production could be affected, Agriculture Secretary Atish Chandra said on Monday.

BS·ET·BusinessLine3 papers1:32 PM

RBI to raise interest rates to 5.50% in October as inflation broadens, shows poll

RBI is expected to raise interest rates by 25 bps to 5.50% in October, the first increase since 2023, with one more hike likely in December, a majority of economists polled by Reuters said, as inflation picks up.

Mint·ET4:19 PM

HSBC expects RBI to raise repo rate by 50 bps in FY27 amid strong growth, inflation pressuresBusinessLine

Why waste time?: SC rebukes govt over timeline for food warning labels

In an unprecedented food safety crackdown, India has raided eateries and shut scores of restaurants and factories nationwide on grounds of hygiene lapses…

BS·Reuters1:40 PM

India-UAE trade nearing pre-war levels, says Piyush Goyal

The UAE has invested $25 billion in India and pledged another $25 billion, with growing use of local-currency trade settlements.

BusinessLine4:48 PM

No shortage of coal now, govt increasing supply of coal to power plants through more railway rakes, says Coal Minister

The number of power plants with critically low coal stocks of ‌less than 25 per cent of the required inventory or only able to generate ‌power for less than three days ‌rose ⁠sharply to 74 as of September 19…

BusinessLine3:46 PM

IRDAI reforms push insurance distributors to explore new revenue streams: Nomura

The company plans to trim marketing expenses and slow down hiring,” Nomura said in its report…

BusinessLine1:30 PM

‘Do not disappoint us’: SC reserves order on FSSAI front-of-pack labels

The Supreme Court asked FSSAI to implement front-of-pack warning labels on packaged foods in the ‘true spirit’ and within the prescribed timeline.

Mint·BusinessLine2:20 PM

Also in Economy & Policy

Companies & Deals

17 stories

'No impact to safety,' says Akasa Air after Boeing acknowledges Max 737 software glitch

Akasa Air, which is reportedly planning to order more than 200 Boeing 737 MAX jets, said there is no impact of the software issue on the safety of Akasa Air operations.

Mint·BS·Fin. Express·ET4 papers11:21 AM

Boeing finds software glitch in automated flight guidance system of MAX planesThe Hindu

3-day bank strike deferred: What happened during union body meet? Will SBI, HDFC Bank now remain open 5 days a week?

The nationwide bank strike scheduled for 28-30 September has been deferred following an agreement between the IBA and the UFBU.

Mint·The Hindu·Fin. Express3 papers12:11 AM

Sun Pharma bags rights to $3.7 billion cholesterol drug market globally

Sun Pharma will commercialise and manufacture LIB Therapeutics' once-monthly cholesterol drug outside the US and China after its EU approval…

BS·Fin. Express·ET3 papers10:01 AM

Switch Mobility secures order for 840 e-buses for Delhi under PM E-Drive

The order comprises 420 9-metre and as many 12-metre AC electric buses for deployment with the Delhi Transport Corporation (DTC) and Transport Department, Delhi…

BS·BusinessLine·ET3 papers3:56 PM

India's TakeMe2Space to launch orbital computing satellite on SpaceX rocket

Reuters·Moneycontrol·ET3 papers8:54 AM

Tata Projects partners with Canadian firm MDS Aero to advance aero-engine testing infra in India

Tata Projects has entered a strategic partnership with MDS Aero Support Corporation to improve aero-engine testing infrastructure. This collaboration supports the development of testing facilities for India's aerospace sector.

ET·BS·BusinessLine3 papers3:10 PM

IndusInd Bank launches dedicated banking vertical for GCCs in India

IndusInd Bank on Monday launched a new banking vertical for Global Capability Centres (GCCs) by bringing together corporate and employee banking capabilities.

BS·BusinessLine·ET3 papers1:52 PM

Also in Companies & Deals

World

15 stories

‘They were asking for everything up front:’ US Ambassador to UN Mike Waltz explains why Trump rejected Iran's proposal

US envoy Mike Waltz said Iran sought sanctions relief in exchange for reopening the Strait of Hormuz, prompting Trump to reject Tehran’s ceasefire proposal. Iran has refused to soften its demands but says it remains open to negotiations to resolve the standoff.

Mint·ET·Moneycontrol3 papers9:54 AM

Washington responds after US ambassador says Trump asked Xi if China wanted to buy American weaponsET

Trump and Xi's 'stalemate' summit was a glitzy gift to China

Reuters·ET3:01 PM

South Korea-Ukraine ties sour over North Korean POW transfer: Why Seoul wants an apology

South Korea has demanded an apology from Ukraine after accusing Kyiv of breaching a confidentiality deal over the transfer of two North Korean POWs to Seoul. The row erupted after Volodymyr Zelenskyy disclosed the transfer at the UN, straining bilateral trust.

Mint·Reuters9:59 AM

What comes next for North Korea soldiers transferred from Ukraine to South Korea?Reuters

Trump says US will ‘win’ Iran war soon, leaves door open to strikes before midterms

President Donald Trump is optimistic that the ongoing conflict with Iran will come to a swift conclusion. He indicated that the resolution could lead to a significant reduction in global oil prices.

ET·BS6:42 AM

2026 MTV VMAs: Taylor Swift steals the show, surpasses Beyoncé to enter history books with most ‘Moon Person' trophies, dedicates top prize to Dolly Parton

Taylor Swift's unforgettable night at the 2026 MTV Video Music Awards in Los Angeles saw her clinch three awards, making her the most decorated artist with a total of 31 VMAs. Her heart-stopping win for 'Video of the Year' for 'The Fate of Ophelia' stood out.

ET10:49 AM

UK PM Burnham hints at new taxes in UK for social care reform

UK Prime Minister Andy Burnham plans to introduce new levies for a reformed social care system. He believes care for the elderly should be universally free at the point of use. Burnham aims to create a comprehensive plan before the next general election.

ET·Reuters1:22 AM

UK PM Burnham refuses to back Heathrow's third runway projectReuters

India’s self-reliance push ‘completely normal’: French Air Force vice chief on India-France defence ties

India-France defence ties are set to deepen across air power, AI, space and defence technology, as French Air and Space Force Vice Chief Lt Gen Dominique Tardif discusses cooperation, Tarang Shakti 2026 and India's defence self-reliance push.

Mint3:00 PM

The crop at the centre of India’s edible oil self-reliance pushBusinessLine

Also in World

Technology

11 stories

AI could cause a billion deaths, safety concerns 'not a hoax': Bill Gates

In a recent interview, Microsoft co-founder said that self-regulation is insufficient and urged US Congress to mandate monitoring and safeguards; he also contradicted Trump's 'just a hoax' statement…

BS·Guardian10:47 AM

Russia hits Ukraine's largest mobile provider, strikes data centres

Reuters·ETYesterday 7:55 PM

Anthropic, OpenAI sound AI safety alarm, seek to shape how it's controlled

As tech titans warned an AI-weary world that their own advanced systems could endanger humanity, the question emerged: What do they have to gain?

BS·ET7:45 AM

Centre asks drought-hit states to rethink rabi crop plans

The government’s focus comes as below-normal rainfall and water shortages raise concerns over irrigation availability in some states, including Maharashtra, Karnataka, Telangana and Andhra Pradesh.

Mint4:24 PM

Maharashtra, Karnataka drought: Centre to assess ground situation; Shivraj to visit statesET

AI spending growth seen slowing sharply by 2028, marking shift towards software: Morgan Stanley

The transition does not mean the end of the infrastructure buildout. Instead, AI-related demand is expected to remain strong because the industry continues to face shortages of power, labour and regulatory capacity…

BusinessLine3:20 PM

India Energy Pivot: Morgan Stanley Bullish On Refiners Amid Demand Shift — ONGC, HPCL, Among Top PicksNDTV Profit

Also in Technology

Opinion

4 stories

The Guardian view on Thames Water: Andy Burnham should nationalise this failed monopoly | Editorial

Bill payers should not fund another rescue for financiers of the water industry. Public ownership can end the cycle of extraction and failure This month, a cross-party parliamentary committee said Thames Water should be placed in temporary state control and that any…

GuardianYesterday 10:00 PM

AI leaders have known about the extinction threat for decades | Judith Levine

Scientists and entrepreneurs knew the dangers of AI a quarter-century ago. But animated by curiosity and profit, they went ahead anyway Over the past few weeks, many of us have struggled to concoct a mental image of brains in the cloud jumping their “sandbox”, sneaking…

Guardian3:30 PM

Job interviews are a weird business – but what’s the alternative? | Emma Beddington

Given the biased nature of the interview process, the recent kerfuffle about taking iced coffee in with you may be the least of our worries I was part of a job interview process recently, on the hiring side of the table for the first time in 15 years, and was instantly…

Guardian3:30 PM

Best of BS Opinion: Adjusting to a new equilibrium before reality bites

Even geopolitical orders survive in the habits of people long after the world around them has changed.

BS6:15 AM

From the Regulators

Official releases

Reserve Bank of India

US Federal Reserve

Subscriber Desk

Behind a paywall — headline and summary only

The Wall Street Journal

Citi Expands Digital-Assets Footprint With Coinbase Partnership
Coinbase, the largest U.S. crypto exchange, will provide the digital rails enabling the bank’s corporate clients to make payments with stablecoins.
5:00 PM
Dollar Might Struggle to Keep Rising Unless Jobs Data Are Very Strong
The dollar is unlikely to maintain its recent strong momentum unless Friday’s U.S. nonfarm payrolls report is much better than expected, ING said.
4:29 PM
Selloff in U.S., European Government Bonds Deepens
The selloff pushed 10-year Treasury and Bund yields to multiyear highs as yet another setback in efforts to resolve the Middle East conflict drove oil prices higher.
4:13 PM
Cruise Stocks Have Hit Choppy Waters
Plus, Iran truce disappointment weighs.
3:54 PM
Rising Deficits and War Unravel Trump’s Strategy to Lower Interest Rates and Inflation
Plus, investing pros tell us what to make of the rapid rise in yields—and how to trade it.
3:28 PM
U.S. Pressure Is Awakening an Energy Giant in Canada
America’s trade hostility and war in the Middle East could fuel a renaissance in Canada.
3:00 PM

Financial Times

Bond sell-off deepens as oil rises above $108
Brent crude jumps and 10-year Treasury yield surpasses 5.2% as hopes for US-Iran agreement fade…
4:56 PM
RAF Fairford arrests were not part of pre-existing police plan
Donald Trump and Wes Streeting have suggested the UK authorities had already been aware of men’s activities…
4:55 PM
‘Xi got face’: China relishes equal treatment from Trump
Chinese state media hail the respect that US president offered their country’s leader…
11:25 AM
US and China agree $60bn low tariff regime for goods from foie gras to camels
Board of trade will lower levies on non-sensitive goods as superpowers seek to ease tensions…
9:34 AM
EU countries consider Nato-style joint responses to Russian hybrid attacks
Campaign this year has included drone attacks, bombs and arson, leading to calls for a stronger response…
9:30 AM

Bloomberg

Saudi Arabia’s Crucial Oil Pipeline Starts Exports After Repairs
Saudi Arabia has started exporting oil using a key cross-country pipeline after the link was repaired following drone strikes earlier this month, a person with direct knowledge of the matter said.
4:47 PM
The Trump-Xi Summit Leaves Agricultural Markets Wanting More
Soybeans and LNG were notably absent from a list of goods on which China will cut import tariffs.
4:45 PM
Buffeted on All Sides, Chile Bond Traders Focus on the Fed
Of all the factors buffeting Chile’s bond market at the moment, it’s the Federal Reserve and the outlook for further rate hikes in the world’s largest economy that are capturing the most attention.
4:30 PM
Pound Options Bets Turn More Negative as UK Budget Comes Into View
Traders are starting to ramp up wagers against the pound ahead of the new UK government’s first budget in a month’s time.
3:48 PM

The New York Times

How Scientists Can Shape Public Opinion Over A.I. Risks
Artificial intelligence workers may have leverage to make the world safer.
2:35 PM
Trump’s Tariffs Push Canadian Companies to Look Past American Links
Shaken by tariffs and threats from the Trump administration, Canadian businesses are seeking markets and suppliers beyond the United States.
2:33 PM
Under Trump, Commodity Futures Trading Commission Scales Back Enforcement, Worrying Farmers
The fate of two cotton brokers highlights how the Commodity Futures Trading Commission has scaled back its regulatory actions not just for crypto cases but also for the kinds of cases it has long policed.
2:32 PM
TV Networks to Resume Trump Coverage, Even as White House Excludes CNN
The White House TV pool went dark this past week amid a standoff between CNN and the president. Network leaders, however, believe an indefinite suspension may be untenable.
1:53 AM

MarketWatch

The history of this market’s bad-breadth signal points to risks ahead
Not since the dot-com bubble have stocks thrown up this concerning metric.
4:56 PM
Nvidia makes a statement with historic $150 billion buyback announcement
The company intends to repurchase a large amount of shares through January 2028, reflecting “confidence in the long-term opportunity ahead.”
4:51 PM
‘I want to make her proud’: My mother, a divorcée, died and I’m her executor. Do I need to file for probate?
“The only debts were utility and credit-card bills, which we will pay off.”
4:45 PM
A pullback is brewing, say these strategists who have examined every drawdown since 1956
While a modest correction is probable in the near-term, RBC Capital Markets’ analysis of previous significant market drawdowns finds many of the telltale signs are lacking at present.
4:32 PM

Premium stories from other papers

Suzlon Energy shares fall 2% to near six-month low, down 15% in one month
Suzlon Energy shares slipped over 2% on Monday, hitting their lowest level in nearly six months, as analysts flagged key levels for investors to watch.The stock fell to Rs 39.92 apiece on the NSE, its lowest level since early April.
ET·11:41 AM
Mint explainer: can a new digital portal change how India insures its livestock?
A new government portal aims to bring livestock insurance policy issuance, claims and monitoring onto one platform, improving access and risk protection for millions of farmers.
Mint·10:59 AM
Benjamin Satterley’ last tragic post resurfaces
ET·4:19 PM
Chinese scientists develop Sunflower-like AC
ET·4:00 PM
GoFundMe pulls $745K wife cancer fundraiser
ET·3:35 PM
UAE to invest another $25B in India, eyes energy bets
ET·2:18 PM