Feds Jefferson urges patience on rates; Kashkari sees more hikes ahead
INDIA NEWS | Fri, 2 Oct 2026, 1:12AM IST
Federal Reserve Vice Chair Philip Jefferson said Thursday that while he supported last months interest-rate increase, he saw no urgency for the US central bank to act again, according to Reuters.Any future adjustments in policy should be determined by carefully examining trends in the data, the evolving outlook, and the balance of risks, Jefferson said in prepared remarks for the University of Virginias Darden School of Business.With financial markets reassessing the outlook amid rising bond yields, Jefferson added that my colleagues and I will need to come to our own judgment, which may take more time, before deciding on the next move.For live updates on US Markets, click hereWith more data in hand, such trends may allow for better discernment, as may the appropriate stance of monetary policy, he said further.The Fed raised its benchmark rate by a quarter-percentage point to 3.75%-4.00% at its September 15-16 meeting. Policymakers projections indicated one more increase before the end of 2026.New York Fed President John Williams on Tuesday also said that policymakers had time to assess additional data, though he still expected another increase before year-end. Financial markets broadly expect the Fed to leave rates unchanged at its October 27-28 meeting.Jefferson expects inflation to remain elevated in the near term before resuming its decline toward our 2% goal as the effects of energy and other price shocks fade.However, he added: I view risks to my inflation forecast as tilted to the upside due to recent geopolitical developments and stronger-than-anticipated aggregate demand.Jefferson described risks to economic activity and employment as roughly balanced. He said the economy was likely to show continued resilience ... by adding jobs and extending a six-and-a-half-year-long expansion.Feds Kashkari expects more rate hikes, but is unsure about OctoberMinneapolis Fed President Neel Kashkari said on Thursday that additional rate increases would probably be necessary to restrain the economy through 2027, although he was uncertain whether the next move should come in October.Im open-minded about how the Fed proceeds, Kashkari told Reuters. He added that I dont have a strong view on whether policymakers should raise rates at their October 27-28 meeting. The Feds final meeting of the year is scheduled for December 8-9.Kashkari, who voted for last months rate increase, projected one more quarter-point hike this year and another in 2027.Since the September meeting, the data that Ive gotten suggests the economy is doing even better than I anticipated while inflation is still too elevated, he said.If the economy proves to just be incredibly resilient and inflation therefore is probably stickier than I appreciate, then policy could need to go higher yet than Im anticipating at this moment. But I dont know whether that scenario will materialize, Kashkari said.The Fed raised rates last month to curb inflation that has exceeded its 2% target for more than five years. Kashkari had also dissented in favor of an increase at the July policy meeting.Although the latest rate increase contributed to a sharp rise in long-term borrowing costs, Kashkari said monetary policy was not doing much to restrain the economy.The labour market looks quite healthy right now. It seems like the economy is doing quite well. And when I look at that constellation, that says, boy, policy is probably not particularly restrictive right now, he said.Kashkari said financial markets were functioning properly despite recent volatility and that the Treasury market had absorbed the repricing without disruption.Im not seeing any evidence of systemic risk in markets, he said. I do think the banking sector bears watching closely, and we are (watching) because of the rapid shift in borrowing costs.He also said monetary policy under Fed Chair Kevin Warsh was influencing markets.If you look at long rates moving as much as theyve moved over the last several weeks, part of that is real economic developments, Kashkari said. I think part of that is hey, the Fed is really serious, the Warsh Fed, its not talk, the Warsh Fed is really serious about controlling inflation.Ive got some confidence that inflations heading back down over the next couple of years to our 2% target, but shocks keep surprising us, he added.(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times)
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Anushka Sharma-backed Slurrp Farm explores fresh fundraise as existing investors eye exit
INDIA BUSINESS | Fri, 2 Oct 2026, 12:57AM IST
Slurrp Farm is currently exploring new fundraising opportunities as existing investors consider exiting their holdings. The company aims to attract potential investors while discussing the details of the proposed deal. Founded by Meghana Narayan and Shauravi Malik, Slurrp Farm has leveraged supergrains in their products. Recently, the brand was valued at 827 crore during a Series C5 funding round. Investor interest continues to rise in the healthy snacking market.
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Indias city hotels find a new growth engine in weekend getaways
INDIA BUSINESS | Fri, 2 Oct 2026, 12:48AM IST
Weekend demand at city hotels in India is improving, driven by rising staycations and increased domestic travel. Occupancy levels have significantly increased in 2026, with Mumbai and New Delhi recording substantial gains. Major hotel chains like Radisson and Ibis report favorable trends in occupancy rates and average daily rates. This shift in consumer behavior marks a notable change in the hospitality landscape post-Covid-19.
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Vedanta plans $200 million push to lift Rajasthan oil output
INDIA BUSINESS | Fri, 2 Oct 2026, 12:38AM IST
Vedanta Oil and Gas is increasing investment in Rajasthan to enhance crude output from existing wells. The company aims to invest approximately $200 million in 2026-27 across several fields in the region. Further, Vedanta plans to develop a new hub for gas growth in the northeast region. Enhanced-recovery techniques are being employed to increase production efficiency from their wells.
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RBI asks banks to tackle repeat customer complaints, fix gaps in grievance systems
INDIA BUSINESS | Fri, 2 Oct 2026, 12:37AM IST
The Reserve Bank of India has asked banks to identify systemic, process and operational gaps behind recurring customer complaints and conduct root-cause analysis to reduce their recurrence. The regulator also called for stronger capacity building and grievance handling. More than 1.33 million complaints were received under the ombudsman scheme in FY25.
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EV boom gathers pace as electric car sales jump 95% on fuel prices, new models
INDIA BUSINESS | Fri, 2 Oct 2026, 12:37AM IST
India's electric vehicle market recorded substantial growth in September, with sales reaching 34,894 units. This represents a 95% increase compared to last year's figures. Tata Motors maintained its market leadership with a 42.2% share, while Mahindra followed with 22.2%. Interestingly, newer entrants like VinFast and Maruti Suzuki captured significant market shares within a short span.
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India power demand jumps 11% in September to record 269 GW peak amid deficit monsoon
INDIA BUSINESS | Fri, 2 Oct 2026, 12:25AM IST
Indias power consumption rose 11.3% year-on-year to 162 billion units in September, driven by cooling and irrigation demand amid a deficit monsoon. Peak power demand met touched a record 269 GW. NTPC generation rose 12.5%, while Coal India increased production 9.2% and total fuel supplies 12.5%.
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Saudi Coalition Accuses Houthis Of Attacking Medina Power Station; Yemeni Militia Calls Charge 'Lie'
INDIA MARKET | Fri, 2 Oct 2026, 12:12AM IST
Saudi-led coalition accuses Houthis of attacking a power station in Medina.
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No fuel supply restrictions imposed across retail network: Nayara Energy
INDIA MARKET | Fri, 2 Oct 2026, 12:12AM IST
The company said it was ensuring fuel availability across its network after Petroleum Secretary Neeraj Mittal said private retailers would be told to stop capping sales.
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VB-G RAM G: Work demand from households rises 34% to 15.64 mn in September
INDIA NEWS | Fri, 2 Oct 2026, 12:11AM IST
Household demand reaches 15.64 mn amid monsoon deficit in south, west states, up 26% from August
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Bengal weighs pooling closed PSUs
INDIA NEWS | Fri, 2 Oct 2026, 12:07AM IST
Kolkata: West Bengal government is looking at a large pool of available land of closed Central PSUs, State PSUs and sick industries, some close private companies, central government owned and private jute mills and cotton mills for preparing land bank, making it available for the industry. Meanwhile, on Thursday, the industrial policy related meeting was held by the Group of Ministers led by the industry department.According to Project BhoomiShakti, the strategic blueprint for recovery, monetization, redevelopment of investment-ready industrial land in West Bengal, has been prepared by a chamber of commerce, several land parcels have been identified. However, there are legal predicaments, encroachments of the idle lands of the close CPSUs and jute mills and many other issues which have come up in the process, industry department sources said."Land Bank are being put together, to make it easier for the industry," said Vandana Yadava, Principal Secretary, Department of Industry & Commerce.Also read: Foreign nationals don't have inherent right to seek entry into India: Delhi HC
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Crude prices back above $101 as China suspends oil exports
INDIA BUSINESS | Fri, 2 Oct 2026, 12:04AM IST
Oil prices experienced a 2% rise as China halted oil product exports to regions outside Hong Kong and Macau. This suspension is likely to tighten fuel markets which are already dealing with supply shortages globally. Investors are reacting to ongoing diplomatic efforts concerning the US-Israeli situation with Iran. The market response was volatile, reflecting the uncertainty caused by these developments.
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What to Know About Trump Accounts as More Than 60 Million Children Are Auto-Enrolled
GLOBAL NEWS | Thu, 1 Oct 2026, 11:54PM IST
The Trump administration may have just signed up your child and more than 60 million others for a 530A savings account (if you havent already done so).
Continue reading at The New York Times
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CJP Founder Dipke Detained Briefly After Being Spotted With Placards At Marine Drive: Police
INDIA MARKET | Thu, 1 Oct 2026, 11:44PM IST
Dipke and his supporters were kept at the police station's waiting area. After being asked to meet senior officials, Dipke exited the police station minutes later.
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Broadcom to lend Anthropic up to $42 bn to lease its chips, filing says
INDIA BUSINESS | Thu, 1 Oct 2026, 11:40PM IST
The company's relationship with Anthropic spans compute supply, equipment leasing and financing -- giving the semiconductor company a central role in Anthropic's infrastructure buildout.
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AI cybersec startup Armadin valued at over $2.5 bn after new funding round
INDIA BUSINESS | Thu, 1 Oct 2026, 11:39PM IST
Investors have poured large sums into early-stage startups building defenses against AI-driven cyberattacks.
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Indian Bank May Consider Waiving 0.28% MDR On UPI Transactions, Says CEO
INDIA MARKET | Thu, 1 Oct 2026, 11:32PM IST
Indian Bank MD and CEO further mentioned that the introduction of MDR would be incrementally positive for banks, although it is unlikely to have a substantial impact on their income.
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Iran May Be Linked To Flydubai Incident 'Based On What I'm Hearing', Says Trump
INDIA MARKET | Thu, 1 Oct 2026, 11:32PM IST
File image of US President Donald Trump
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INDIA MARKET | Thu, 1 Oct 2026, 11:28PM IST
In the power sector, Adani highlighted the group's role in supplying electricity to more than 3 million homes across Mumbai through Adani Electricity.
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Why are world bond markets selling off again?
INDIA MARKET | Thu, 1 Oct 2026, 11:24PM IST
As inflation fears and mounting debt pressure rise, government borrowing costs have soared to unprecedented levels. The US Treasury yield, now the highest since 2002, signifies a shift in global market dynamics. These increasing bond yields adversely affect loans for families and businesses, posing challenges for governmental finances. Intervention by central banks could be on the horizon to maintain fiscal order, especially with future artificial intelligence-related bond issues looming.
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Drishyam: The Conclusion Advance Booking Ajay Devgn Film Sees Strong Demand Ahead Of Release
INDIA MARKET | Thu, 1 Oct 2026, 11:23PM IST
Drishyam: The Conclusion stars Ajay Devgn, Shriya Saran, Tabu, Ishita Dutta among others.
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TCS to buy US retailer Best Buy's India GCC, develop an AI-native centre
INDIA MARKET | Thu, 1 Oct 2026, 11:20PM IST
Best Buy's India entity will transition to TCS under a multi-year agreement, combining its retail knowledge with technology and AI capabilities to build an AI-native centre
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October 2026 Phone Launches: Vivo V80, Motorola Edge 70 Neo, Oppo F35 Pro On The Way
INDIA MARKET | Thu, 1 Oct 2026, 11:19PM IST
Upcoming phones in October 2026 include Vivo V80, Oppo F35, OnePlus 16, Vivo X Fold 6 and more
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Mahindra, Embraer in talks to build C-390 military aircraft ecosystem
INDIA BUSINESS | Thu, 1 Oct 2026, 11:18PM IST
Mahindra Group on Thursday said it is in preparatory discussions with Brazilian aircraft maker Embraer to create an industrial and support ecosystem for the military transport and aerial refuelling aircraft C-390 Millennium in India.
The two companies are jointly pursuing the Indian Air Force Medium Transport Aircraft (MTA) programme, Mahindra Group said.
As part of their ongoing preparations, Mahindra and Embraer are working with the Maharashtra government and have identified Nagpur for a potential final assembly line for Embraer C-390 Millennium aircraft production in India, it added.
Embraer and Mahindra entered into a strategic cooperation agreement in October last year to jointly advance the C-390 Millennium for the IAF's MTA programme, building on their earlier initial pact, signed in February 2024.
The agreement envisages collaboration on industrialisation, local manufacturing, assembly, supply chain development and MRO activities in India. In February 2026, the companies al
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US Sanctions A7, a Russia Firm That Helps Sidestep Economic Restrictions
GLOBAL NEWS | Thu, 1 Oct 2026, 11:05PM IST
The move follows recent reports detailing how A7, a Russian financial firm, used shell companies around the world to move funds on behalf of restricted Russian businesses.
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INDIA MARKET | Thu, 1 Oct 2026, 11:04PM IST
Shatabdi Hospital canteen and Kohinoor among 12 Mumbai establishments facing FDA licence suspension.
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2h
Digger X Reviews: Tom Cruise-Starrer Gets Mixed Response, From 'Pure Genius' To 'Agony To Watch'
INDIA MARKET | Thu, 1 Oct 2026, 11:03PM IST
Digger stars Tom Cruise as Digger Rockwell, with Sandra Hller as his half-sister Emma Rockwell.
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2h
Auto makers post strong sales ahead of festive season
INDIA BUSINESS | Thu, 1 Oct 2026, 11:01PM IST
In September, automotive sales in India showed remarkable growth due to increased demand following the GST rate cuts. Maruti Suzuki led the market with a notable 37% sales increase, delivering 181,838 units. Other automakers, including Tata Motors and Mahindra & Mahindra, also reported substantial growth in passenger vehicle sales. However, challenges such as commodity costs and diesel prices remain areas of concern for the industry.
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INDIA MARKET | Thu, 1 Oct 2026, 10:55PM IST
Rohit Sharma and Shubman Gill put on a 255-run stand against West Indies in the second ODI.
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Goyal meets Greer, pushes for early conclusion of India-US trade deal
INDIA NEWS | Thu, 1 Oct 2026, 10:55PM IST
Goyal and Greer discussed an interim trade agreement at the G20 meeting in Milwaukee, where talks also covered food supply chains, excess capacity and forced labour
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Nobody is allowed to put cap on sales: Oil Secretary Neeraj Mittal
INDIA MARKET | Thu, 1 Oct 2026, 10:49PM IST
'Phase of anxiety' not over for India, but consumers remain insulated from energy price shock: Puri
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September Auto Sales Updates: Hero MotoCorp Exports Fall 31%; TVS Motors Total Sales Rises 24%
INDIA MARKET | Thu, 1 Oct 2026, 10:44PM IST
September Auto Sales Live Updates
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INDIA MARKET | Thu, 1 Oct 2026, 10:44PM IST
Movies and OTT shows to watch in October 2026.
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Global markets rattled as bond yields surge, offsetting AI-stock optimism
INDIA MARKET | Thu, 1 Oct 2026, 10:42PM IST
Global bond market volatility led to declines in stock indexes, with the S&P 500 on track for consistent losses. Oil prices rose, contributing to persistent inflation, while economic reports indicated US resilience despite challenges. The 10-year Treasury yield hovered near a 2002 high, raising concerns for real-estate stocks. Technology stocks demonstrated some strength, aided by Micron Technologys better-than-expected quarterly profit.
Continue reading at Economic Times
2h
Flipkart Big Billion Days: Poco X8 Pro Max Gets Rs 6,000 Off, Deals Start At Rs 11,999
INDIA MARKET | Thu, 1 Oct 2026, 10:37PM IST
Poco is bringing its phone lineup into Flipkart's upcoming festive sale
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2h
PepsiCo, Monster Challenge FSSAI Order Barring 'Energy Drink' Label On High-Caffeine Drinks
INDIA MARKET | Thu, 1 Oct 2026, 10:37PM IST
PepsiCo, Monster challenge FSSAI energy drink label restrictions in India over business impact.
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2h
PV domestic wholesales up 21% in September on low base from GST rejig
INDIA MARKET | Thu, 1 Oct 2026, 10:34PM IST
Domestic passenger vehicle wholesales reached 463,081 units in September, with Maruti Suzuki reporting 36.9 per cent growth as small cars and CNG models gained momentum
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Mahindra, Embraer Identify Nagpur For C-390 Millennium Assembly Line In India
INDIA MARKET | Thu, 1 Oct 2026, 10:33PM IST
Mahindra and Embraer plan potential C-390 Millennium assembly facility in Nagpur.
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2h
Accenture beats Q4 revenue guidance, projects 3-6% growth for FY27
INDIA MARKET | Thu, 1 Oct 2026, 10:26PM IST
Fourth-quarter revenue rose 6 per cent to $18.7 billion, beating guidance, while Accenture projected 3-6 per cent growth for FY27, offering some comfort to Indian IT firms
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