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Euro zone business activity showed surprising strength in August despite firms raising prices, a survey showed, potentially weakening expectations for two more rate cuts from the European Central Bank this year. However there were signs the upswing may be temporary, with readings flattered by a sharp rise in French services activity due to the Olympic Games. German business activity contracted for a second consecutive month and by more than expected.

US election 2024 race was by and large headlined by Republican Donald Trump, President Joe Biden and Vice-President and Democratic Presidential nominee Kamala Harris. However, Independent Presidential candidate Robert F. Kennedy Jr has suddenly hogged all the limelight. Robert F. Kennedy Jr. is expected to drop out of the race for the White House, US media reported on Wednesday, with the independent candidate due to make a major address later in the week. However, Robert F. Kennedy Jr.'s campaign said on Wednesday that he would address the nation on Friday in Arizona, where he will talk about «the present historical moment and his path forward.» Kennedy is planning to drop out of the election and endorse Trump, but that hinges on whether the Republican offers Kennedy «and others» a position in the White House if elected, Larry Sharpe, outreach director with American Values 2024, told Reuters.

India may allow certain foreign investors to raise capital in rupees for investments in select countries, a government official said, in a move aimed at boosting the international use of the South Asian nation's currency. The plan comes after Indian Finance Minister Nirmala Sitharaman said in July the nation will simplify its foreign direct investment and overseas investment rules to promote opportunities for use of the Indian rupees as a currency for overseas investments. The new provision could enable investments in rupees in select nations of «strategic interest» to India, said the official with direct knowledge of the plans.

demand from local banks and corporates. A moderate rise in the dollar index also added to the weakness in the rupee. The local currency ended weaker by 3 paisa, ending at 83.95 versus the US dollar, as against its previous close of 83.922/$1, LSEG data showed. The rupee moved in a tight band of 83.937/$1 and 83.965/$1 on Thursday.

Disney and Reliance have offered some concessions to secure an India antitrust approval for their $8.5 billion media merger, but are unwilling to sell any cricket broadcast rights, the biggest prize in the deal, two sources familiar with matter said. Reuters reported earlier this week that the Competition Commission of India (CCI) sent a warning notice to the companies expressing concern that their merged entity will have a tight grip on most cricket rights for TV and streaming in India, and can hurt advertisers. In their response, the companies have offered to go easy on advertising rate hikes and not increase them unreasonably, the sources said.

Reliance may force the companies to sell some lucrative cricket broadcast rights or commit to advertising price caps. Reuters reported earlier this week that the Competition Commission of India (CCI) has sent a warning notice to the companies expressing concern that the merged entity will effectively have a monopoly on cricket broadcast rights worth billions of dollars, allowing it to squeeze advertisers. Neither the companies nor the regulator have commented as the process is confidential.

Bronfman sweetened his bid to take over Paramount Global, offering $6 billion for its controlling shareholder National Amusements and a minority stake in Paramount, according to a person familiar with the matter. He had previously offered $4.3 billion, according to Reuters sources. Shares of Paramount rose more than 2.4% after the market closed. Paramount said on Wednesday it had received an acquisition proposal from Bronfman on behalf of a consortium of investors, but it did not disclose the terms.

The war, largely a grinding artillery and drone battle across the fields, forests and villages of eastern Ukraine, escalated on Aug. 6 when Ukraine sent thousands of soldiers over the border into Russia's western Kursk region. For months, Ukraine has also fought an increasingly damaging drone war against the refineries and airfields of Russia, the world's second largest oil exporter, though major drone attacks on the Moscow region — with a population of over 21 million — have been rarer.

Search efforts resumed Tuesday for six people who went missing off the coast of Sicily when the luxury superyacht they were travelling in sank in the early hours of the morning Monday.

Rivian's head of manufacturing is leaving the electric vehicle startup to join Stellantis at a time when the maker of Jeep SUVs and Ram pickups is preparing to launch a number of battery powered cars. Tim Fallon will join Stellantis as its head of manufacturing in North America effective Sept 2, Stellantis said in a statement. Rivian, known for its R1S SUVs and R1T pickups, appointed its head of logistics Carlo Materazzo, a former Stellantis executive, to oversee production in the interim, CEO RJ Scaringe said in an internal email seen by Reuters.

Kamala Harris' election effort has raised around $500 million since she became the Democratic presidential candidate, sources told Reuters, an unprecedented money haul that reflects donor enthusiasm going into the Nov. 5 election. Four sources familiar with the fundraising effort told Reuters that figure had been banked for Harris in the four weeks since she jumped into the race on July 21. Campaign cash is critical for advertising and get-out-the-vote efforts that help bring people to the polls and persuade undecided voters to swing a candidate's way.

Donald Trump has hinted at including Elon Musk in his cabinet should he win the presidential race. “He’s a very smart guy. I certainly would, if he would do it," the Republican candidate told Reuters when asked of such a possibility.

index and a fall in crude oil prices which softens India's inflation and trade deficit. The rupee closed at 83.87 against the US dollar, versus its previous close of 83.94/$1 on Friday, LSEG data showed. The currency strengthened to 83.84 during the day, the strongest since 6th August, but dollar demand from public sector banks capped its gains, traders said.

US stock market indexes Nasdaq Composite, S&P 500, and Dow Jones are likely to trade higher on Monday as encouraging data eased recession worries following a brutal sell-off in Wall Street earlier in August. The S&P 500 has rebounded more than 6 per cent since August 5, when a steep drop pushed the benchmark the US index to its biggest three-day slide in over two years. A rapid return to calm was also evident in the Cboe Volatility Index, or Wall Street's «fear gauge,» which has retreated from last week’s four-year highs at a record pace, as per a Reuters report. Some of 2024's biggest winners have staged strong rebounds since August 5. Chipmaker Nvidia has bounced more than 20 per cent, while the Philadelphia SE Semiconductor index has gained more than 14 per cent. Small-cap shares, which had been strong performers in July, have also recovered from recent lows, with the Russell 2000 up nearly 5 per cent, Reuters reported.

Madhabi Puri Buch, Chairperson of the Securities and Exchange Board of India (SEBI), is facing allegations of a conflict of interest. Documents reviewed by Reuters show that Buch continued to earn revenue from Agora Advisory Pvt Ltd, a consultancy firm where she holds a 99% stake, during her tenure at SEBI. This situation raises questions about potential violations of SEBI’s 2008 policy, which prohibits officials from holding other professional positions that could lead to a conflict of interest.

Israeli strikes killed at least 21 people in Gaza on Sunday, including six children, Palestinian health authorities said, ahead of a visit to the region by U.S. Secretary of State Antony Blinken to try to push forward ceasefire talks. The children and their mother were killed in an Israeli airstrike on a house in the central town of Deir Al-Balah, health officials said. There was no immediate comment from the Israeli military. The Israeli military said it destroyed rocket launchers used to hit Israel from the southern city of Khan Younis, the scene of intense fighting in recent weeks, and killed 20 Palestinian fighters.

The Food Safety and Standards Authority of India conducted inspections, sampling and testing of mixed spice blends after Hong Kong suspended sales of some blends of the MDH and Everest brands in April over high levels of a pesticide. Britain then tightened controls on all spice imports from India, while New Zealand, the United States and Australia have said they were looking into issues related to the brands.

Volodymyr Zelenskiy said on Saturday his troops had strengthened positions and expanded territory in Russia's Kursk region nearly two weeks into their incursion. Ukraine says it has seized more than 80 settlements over 1,150 square km (444 square miles) in Kursk since Aug. 6 in the biggest invasion of Russia since World War Two. Zelenskiy said his army chief Oleksander Syrskyi had reported that Ukrainian troops continued their advance and also took more Russian servicemen as prisoners.

markets regulator, Madhabi Puri Buch, continued to earn revenue from a consultancy firm during her seven-year tenure, potentially breaching rules for regulatory officials, according to public documents reviewed by Reuters. Hindenburg Research has alleged a conflict of interest in Buch's investigations surrounding the Adani Group due to her previous investments. The allegations against the Gautam Adani-led conglomerate, made in January last year, triggered a big drop in the share prices of the flagship Adani Enterprises and other group firms which later recovered, prompting an ongoing investigation by the Securities and Exchange Board of India (SEBI).

markets regulator, Madhabi Puri Buch, continued to earn revenue from a consultancy firm during her seven-year tenure, potentially breaching rules for regulatory officials, according to public documents reviewed by Reuters. Hindenburg Research has alleged a conflict of interest in Buch's investigations surrounding the Adani Group due to her previous investments. The allegations against the Gautam Adani-led conglomerate, made in January last year, triggered a big drop in the share prices of the flagship Adani Enterprises and other group firms which later recovered, prompting an ongoing investigation by the Securities and Exchange Board of India (SEBI). Buch, in a statement on Aug. 11, denied allegations of a conflict of interest and termed them as an attempt at «character assassination».

US lawmakers want the Biden administration to probe China's TP-Link Technology Co and its affiliates for potential national security risks from their widely used WiFi routers over fears they could be used in cyber attacks against the U.S. Republican Representative John Moolenaar and Democratic Representative Raja Krishnamoorthi, who lead the House Select Committee on China, requested a Commerce Department probe in a Tuesday letter seen by Reuters. According to research firm IDC, TP-Link, which focuses on the consumer market, is the top seller of WiFi routers internationally by unit volume.