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BusinessIn September, the US economy added only 29,000 jobs, far below the expected 90,000, while the unemployment rate rose to 4.2%. This labor market slowdown led traders to reduce the likelihood of a Federal Reserve interest rate hike in October to under 20%. Despite recent rate increases, inflation remains a concern for policymakers.
ET Markets·
BusinessHDFC Bank American Depository Receipts (ADRs) rose nearly 3% pre-market on October 2 after Anup Bagchi was appointed Managing Director and CEO, following RBI approval. Bagchi's three-year term starts October 27, 2026. The bank's board approved his appointment as Additional Director from October 2, 2026, pending shareholder approval. Bagchi is noted for his retail banking and technology expertise.
NDTV Business·
TechnologyFederal Reserve Governor Lisa Cook identified artificial intelligence as a key inflationary risk by 2027. She joined a unanimous Fed vote last month to raise the policy rate by 0.25% to help bring inflation back to the 2% target. Inflation measured by the Fed was 3.4% in August, remaining above target for over five and a half years.
ET Tech·
WorldAn ancient Jain boundary stone dating back to the 10th century CE was discovered near Naganwadi village in Chandgad taluk, Maharashtra, close to the Karnataka border. Unearthed during road construction, the three-foot tall stone was identified by historian Dr. Bahubali Handur. It is linked to the Rattas of Savadatti who ruled the region and used such stones to mark kingdom boundaries. The Archaeology Department will study the artifact further.
Deccan Herald··Naganwadi
Worldflydubai has temporarily suspended flights to Tel Aviv after flight FZ 1073, a Boeing 787 MAX 8, plunged 14,300 feet over northern Saudi Arabia on September 30. The plane safely landed in Tabuk after two pilots traveling as passengers took control when the captain opened the cockpit door. All 172 onboard are safe. The captain returned to the UAE after medical clearance. The CEO praised the crew's professionalism during the incident.
HT World··Tabuk
HealthFDA Commissioner Tukaram Mundhe responded to Sanjay Raut's corruption allegations in an exclusive interview. He defended his strict enforcement of food safety regulations, emphasizing transparency and a zero-tolerance policy towards wrongdoing. Mundhe also announced that infant nutrition will be the FDA's next enforcement focus, aiming to enhance food safety and public health in India.
News18·
ET Markets·
In September, the US economy added only 29,000 jobs, far below the expected 90,000, while the unemployment rate rose to 4.2%. This labor market slowdown led traders to reduce the likelihood of a Federal Reserve interest rate hike in October to under 20%. Despite recent rate increases, inflation remains a concern for policymakers.
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