Financial Summary: Thursday, September 4, 2025

The GST Council has reduced GST rates for certain vehicles from 28% to 18% to stimulate the auto sector, effective September 22, 2025.

Prime Minister Modi's GST reforms, impacting ₹48,000 crore, are expected to boost consumption in sectors like FMCG and automobiles.

Moschip Technologies' shares surged 19% following Prime Minister Modi's support for the semiconductor industry at the Semicon India 2025 Summit.

The elimination of the 18% GST on insurance premiums is expected to enhance insurance penetration in India.

Food delivery services Zomato and Swiggy will now face an 18% GST on delivery fees, potentially increasing costs for consumers.

Upcoming GST reforms are anticipated to significantly benefit India's real estate sector, including residential and commercial properties.

Edelweiss MF's Radhika Gupta highlights that GST reforms and the festive season are expected to boost corporate earnings and domestic demand in Q3.

India is diversifying its pharmaceutical export markets, looking beyond the US amid ongoing tariff tensions.

Blockchain technology faces confidentiality challenges that are slowing its adoption in the banking sector.

Figma's stock price plummeted after a disappointing earnings report following its IPO.

Waymo will begin testing its autonomous vehicles at San Jose airport this fall, expanding its operations.

Bret Taylor's AI startup Sierra has raised $350 million, marking a significant milestone in the AI market.

Gen Z travelers are increasingly using questionable financing methods to fund luxury trips while concealing their financial situations.

Rising coffee prices are attributed to extreme weather conditions impacting major producers like Brazil and Vietnam.

Frugal living expert Austin Williams offers practical advice for improving financial stability.

Las Vegas has seen a 12% decline in travel visitation year over year, marking seven months of decreased tourism.

Bill Pulte has made allegations of mortgage fraud against Lisa Cook regarding her property claims.

Tech stocks drove gains in the S&P 500 and Nasdaq as the 30-year Treasury yield declined, reflecting strong investor confidence.

The Indian stock market experienced a significant rally, with the Sensex rising over 700 points due to GST tax cuts aimed at boosting consumption.

Asian markets rose on optimism regarding potential Federal Reserve interest rate cuts, following positive trends on Wall Street.

Metal stocks surged as CLSA forecasts a recovery in the sector due to China's steel capacity cuts, benefiting major companies.

U.S. stocks rallied, with the S&P 500 reaching a new record amid growing investor optimism over potential interest rate cuts.

The U.S. labor market showed signs of slowing, adding only 54,000 jobs in August, raising concerns ahead of the upcoming jobs report.

Record numbers of retirement savers have become millionaires in their 401(k) or IRA accounts, driven by consistent savings and market performance.

The US has initiated a military operation against Venezuelan drug cartels, deploying naval forces to the Caribbean.

UK trade unions are pushing for wealth taxes to support workers amid political changes with the rise of Reform UK.

France is experiencing political instability as it struggles to implement government spending cuts, impacting governance.

The WTO has called for urgent reforms in global trade to address ongoing challenges while maintaining its core principles.

The US State Department has criticized Norway's decision to divest from Caterpillar due to its ties to Israel amid the Gaza conflict.

President Trump has requested the Supreme Court to allow him to fire FTC Commissioner Rebecca Slaughter after recent commissioner removals.

Salesforce shares fell over 5% after the company provided conservative guidance despite a strong quarterly performance.

Nidec's shares plummeted 22% due to an accounting probe at its China unit, marking the largest single-day drop for the company.

Sequent Scientific and Viyash Life Sciences received strong shareholder approval for their merger, aiming to create a global health entity.

ITC shares are under scrutiny as the GST Council maintains a 28% GST on tobacco and raises the cess to 40%, potentially impacting profits.

Delta Corp and Nazara Technologies shares dropped up to 7% after the GST Council imposed a 40% tax on casinos and online gaming.

Cement stocks, including Ambuja Cements and ACC, surged up to 4% following a GST reduction from 28% to 18%.

Mahindra & Mahindra shares surged nearly 8% following a GST overhaul that reduces taxes on SUVs, small cars, and tractors.

Jet2 shares fell sharply as the UK tour operator warned that customers are delaying bookings, raising concerns about future profits.

Porsche will exit Germany's DAX index due to a significant drop in share prices attributed to U.S. tariffs impacting the luxury carmaker.

SoftBank has reduced its stake in Ola Electric to 15.68% after selling 2.15%, coinciding with a significant drop in the company's share price due to a government GST cut on two-wheelers.

JetBlue has partnered with Amazon to enhance in-flight Wi-Fi services through the use of Amazon's Project Kuiper satellite internet.

Burberry is set to return to the FTSE 100 index after a year, reflecting the success of its strategic overhaul.

UK businesses are experiencing the fastest job cuts since 2021, attributed to the impact of increased payroll taxes from last year's budget.

Orsted has filed a lawsuit against the Trump administration to challenge a stop-work order on its offshore wind farm project, claiming it is unlawful.

C3.ai's stock plummeted after the company replaced its CEO and withdrew its financial outlook.

Spirit Airlines has filed for bankruptcy for the second time and announced plans to cut service.

American Eagle Outfitters reported a net revenue of $1.28 billion for Q2 FY25, indicating strong performance.

T-Mobile anticipates a $400 million boost in service revenue in Q3 due to a deal with UScellular.

Gap announced plans to expand into beauty products at Old Navy stores later this year, marking a strategic shift.

Carlyle has raised $20 billion to acquire second-hand private equity stakes, highlighting strong investor interest.

Nomura initiates coverage on Waaree Energies with a 'Buy' rating, predicting a 16% upside due to India's growing power demand.

Microsoft's new cloud deal enhances its presence in the federal market, signaling growth in government contracts.

Dow and Gruppo Fiori unveil a new process for recycling automotive polyurethane, aiming to improve sustainability in the automotive industry.

Avis Budget's outlook weakens due to softening demand and pricing risks, raising concerns among investors.

Broadcom reports a 63% increase in AI revenue, exceeding investor expectations amid the ongoing AI boom.

Boeing's defense unit strike continues into its second month as the company hires replacement workers.

Lululemon's shares drop significantly after the company issues a disappointing earnings outlook for 2025 despite beating quarterly estimates.

T. Rowe Price shares rise after Goldman Sachs announces a $1 billion investment in the asset manager.

Figma's stock falls nearly 20% following its first earnings report since going public, marking a significant decline.

Honeywell's quantum computing firm, Quantinuum, secures $600 million in funding, pushing its valuation to approximately $10 billion.

Paramount mandates a return to the office five days a week as part of upcoming cost-cutting measures.

Ford sees a positive trend in sales with its gas-powered SUVs, despite the growing consumer interest in electric vehicles.