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The renminbi has continued to slide against the dollar throughout the year as the country’s expected economic recover has been weaker than first forecast.

By Ziyi Tang, Clare Jim and Xie Yu

Apple is set to discontinue its social media support advisor positions on platforms X, YouTube, and the Apple Support Community forum, commencing October 1. Consequently, users will not receive human responses for their inquiries on X and YouTube; automated replies will guide them toward other avenues to reach Apple customer support. The report indicated that Apple is providing an option for chat support staff to transition to phone-based support positions within the company, impacting potentially hundreds of employees.

By Xie Yu, Clare Jim and Li Gu

Tether, the renowned stablecoin issuer, has unveiled a pivotal change in its approach to blockchain support. In a bid to resonate with the evolving demands of the crypto community and uphold a fortified blockchain ecosystem, Tether will cease support for its tokens on the Kusama, Bitcoin Cash SLP, and notably, the Omni Layer platforms.

Crypto exchange Binance has encouraged users to start converting their Binance USD (BUSD) stablecoin holdings into a newly listed stablecoin amid plans to wind down support for BUSD. 

Binance, the largest cryptocurrency exchanges in the world, has revealed intentions to delist eight Binance USD (BUSD) trading pairs as part of a broader plan to withdraw full support for the stablecoin by 2024. 

Fortescue’s radical green reinvention triggered the exit of departing chief executive Fiona Hick, who faced a choice to “get on the bus, or get off the bus”, according to executive chairman Andrew Forrest.

Heavy Industries, Mahendra Nath Pandey said, “Changes will be made to enable quarterly disbursal of fiscal incentives, addition of more testing agencies for faster clearances, and extending the PLI scheme benefits by a year after consultation with stakeholders.” He was speaking at review meeting under PLI Auto scheme which saw participation from industry representatives. ET had reported earlier this week that the PLI scheme may be extended by a year. These measures are likely to help in better implementation of the 25,938 crore PLI Scheme for Automobile and Auto Component Industry. Applicants under scheme had proposed investment of Rs 67,690 crore, of which Rs.10,755 crore has been invested till June-end this year, an official statement said. Also speaking at the event, Minister of State for Heavy Industry, Krishan Pal Gurjar said the auto industry contributes nearly 7% to the country’s gross domestic product (GDP).

Gold prices gained on Tuesday as the dollar and Treasury yields retreated from recent highs ahead of crucial U.S. inflation and jobs data this week that could define the outlook for interest rates. FUNDAMENTALS * Spot gold was up 0.1% at $1,921.69 per ounce by 0113 GMT, having hit its highest since Aug.

China took steps to bolster its flagging economy, though investors remained worried about the pace of growth as well as further U.S. interest rate hikes that could dampen demand. China halved stamp duty on stock trading in its latest attempt to boost struggling markets. The market is also keeping an eye on Tropical Storm Idalia and any risk it poses to oil and gas output in the U.S.

Bitcoin (BTC) recovered its weekly close losses on Aug. 28 as risk assets rose on China tax cuts.

Oil prices ticked higher on Monday, along with equity markets, after China took steps to support its flagging economy, though investors remained worried about the pace of growth as well as further U.S. interest rate hikes that could dampen fuel demand. Brent crude rose 22 cents, or 0.3%, to $84.70 a barrel by 0049 GMT while U.S.

Investing.com-- Chinese stocks rose sharply at the open on Monday after Beijing announced a slew of new measures aimed at restoring faith and attracting investors back to its battered equity markets. 

small and medium enterprises (MSMEs) constitute 20% of all MSMEs yet receive only 5% of the total financing provided by public-sector banks. According to the experts, women in India are often less digitized and receive less training to build their businesses. However, when properly supported, women entrepreneurs are more likely to hire women, more likely to repay credit and more likely to share increased income with their families and communities, serving as core drivers of inclusive economic growth.

crude price at $75-80/bbl, which is the fiscal break-even crude price for Saudi Arabia. This is a sweet spot for most oil-marketing companies (OMCs) in India, with Oil India and Oil and Natural Gas Corporation (ONGC) being the top beneficiaries, according to domestic brokerage firm JM Financials.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

Moody's Investors Service said. Earnings before interest, taxes, depreciation and amortisation (EBITDA) of Indian companies rated by Moody's will grow 5%-10% over the next two years as prices of key raw materials like crude oil and coking coal retreat from 2022-highs, it said in a note dated Thursday. State-owned oil marketing companies — Indian Oil Corp, Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd — will be the major beneficiaries of slide in crude prices. However, it will also hurt the earnings of upstream oil companies like Oil and Natural Gas Corp and Oil India as their revenues will take a hit, Moody's said. Moody's said JSW Steel will benefit the most from declining coking coal prices as its operating costs will reduce, while Tata Steel is likely to see limited gains due to lower profitability in its Europe business. Oil-to-telecom conglomerate Reliance Industries and top cement maker Ultratech Cement are also tipped to see strong earnings growth over the next two years, it added. Moody's said capital spending will remain high at nearly 4 trillion rupees, with Reliance, ONGC, IOC, telecom firms and steelmakers incurring the bulk of the expenditure, but it is unlikely to drag earnings. «Expected earnings growth combined with prudent balance sheet management over the last 12-18 months will buffer the impact of high capital spending.» India's young population, steady demand and rising spending power would keep domestic consumption «robust» at least till the end of the year, while sustained government infra spending will support business activity in key industrial sectors, Moody's added.

Sullivan convened the national security and senior G20 representatives of the Quint (an informal decision-making group consisting of the United States and France, Germany, Italy, the United Kingdom and the European Union) at the White House to discuss the ensuing G20 Leaders' Summit in New Delhi, according to a White House release. The participants discussed their unified support for the G20 and India's G20 Presidency, as well as their commitment to ensuring strong outcomes in New Delhi, including demonstrating the G20's role as the premier forum for economic cooperation, driving an affirmative and ambitious agenda for developing and emerging countries, and making progress on evolving the multilateral development banks to be more responsive to shared global challenges, the official release informed. The G20 Summit is slated to take place on September 9-10 at the recently-inaugurated state-of-the-art Bharat Mandapam convention centre at Pragati Maidan in New Delhi. Many heads of state and diplomats including US President Joe Biden, Chinese Premier Xi Jinping, Canadian Prime Minister Justin Trudeau and French President Emmanuel Macron are expected to be attending the G20 Leaders' Summit. The 18th G20 Heads of State and Government Summit in Delhi, under India's presidency will be a culmination of all the G20 processes and meetings held throughout the year among ministers, senior officials, and civil societies. Sullivan also convened the Quint national security advisors of France, Germany, Italy, and the United Kingdom at the White House on Thursday. Noting that it is also Ukraine's Independence Day, participants reiterated their enduring commitment to supporting Ukraine in its defence against Russian aggression for as long

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Plain Facts publishes a compilation of data-based insights, complete with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. Incessant rainfall once again is wreaking havoc in the northern part of the country, while imposition of export duty on onions has caused an uproar. Meanwhile, the popularity of Prime Minister Narendra Modi is far from fading even after nine years.