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US President Trump has directed the Justice Department to investigate major meatpacking companies for alleged collusion and price manipulation, citing record-high beef prices. The probe will examine whether leading processors, who control a significant portion of the market, have engaged in anti-competitive practices. This action aims to protect American ranchers and address rising consumer costs.

The Trump administration ordered flight reductions impacting over 1,000 flights nationwide due to air traffic controller shortages amid a federal government shutdown. Major airports experienced delays and cancellations as essential staff worked without pay. Transportation Secretary Sean Duffy warned of further cuts if the shutdown persisted.

State Bank of India aims to be among the world’s top 10 most valued banks by 2030. This follows the bank crossing the Rs 100 lakh crore business milestone. SBI is strengthening its capital buffers to support future growth. The bank also surpassed $100 billion in market capitalization. This positions SBI for significant global recognition.

Telecom operators are testing a new Calling Name Presentation (CNAP) service in Haryana and Himachal Pradesh, allowing mobile users to see the registered names of unknown callers. This initiative, directed by the Department of Telecommunications, aims to combat spam and scam calls by displaying caller identities, with a nationwide rollout anticipated by March-April next year.

The Nasdaq Composite experienced its sharpest weekly loss since early April, as investors questioned the sustainability of the AI boom amid concerns about China’s potential to lead in AI development. Despite this pullback, the S&P 500 and Dow Jones Industrial Average rebounded late in the session, buoyed by reports of progress in ending the federal

Asian stock markets declined Friday, mirroring Wall Street’s losses due to weak US economic data and interest rate uncertainty. Surging US layoff announcements reignited concerns about the labor market, while Fed officials signaled inflation remains a primary worry, tempering expectations of further rate cuts.

Groww’s IPO is on its final bidding day, having garnered significant retail investor interest and a 1.64 times subscription by Day 2. The platform’s valuation stands at 33.8 times FY25 earnings, with a Rs 11 grey market premium indicating a potential listing price of Rs 111. Brokerages largely recommend subscribing, citing Groww’s strong market position

China’s October exports saw a significant 25% drop to the US, contributing to a 1.1% global decline, the weakest since February. This downturn highlights continued reliance on American buyers despite efforts to diversify markets. A recent trade agreement between the US and China may offer a modest boost to exports in the coming quarters.

India and China, major buyers of Russian crude, have significantly reduced their oil purchases following new US sanctions on Rosneft and Lukoil. This has widened the price gap between Russian Urals and Brent crude in Asia to a year-high, signaling increasing pressure on Russia’s vital oil revenues. Refiners in both nations have halted December orders,

October saw the highest job cuts in 22 years, with over 153,000 positions eliminated as employers increasingly adopt AI and face economic pressures. This surge, reflecting a cooling labor market, makes it harder for laid-off workers to find new roles, with forecasts suggesting a continued slowdown.