Live News Blog

Foreign Investors Pour Nearly ₹8,000 Crore Into Indian Government Bonds in First Week of November

• Foreign portfolio investors (FPIs) increased their holdings of Indian government securities under the Fully Accessible Route (FAR) by nearly ₹8,000 crore in the first week of November 2026, amid improving global market conditions.
• The inflows followed a sharp decline in global crude oil prices and US Treasury yields after the US midterm elections, improving the relative attractiveness of Indian debt.
• Brent crude prices reportedly fell more than 16%, from above $105 to around $96 per barrel. Lower oil prices are expected to ease India's import bill, inflationary pressures and fiscal concerns.
• The US 10-year Treasury yield declined by approximately 7 to 10 basis points, making higher-yielding Indian government bonds more attractive to overseas investors.
• The Indian rupee strengthened from around ₹94.90 to ₹93.74 against the US dollar in a week. Currency appreciation improved potential dollar-denominated returns for foreign investors and reduced exchange-rate concerns.
• India's benchmark 10-year government bond yield recorded its steepest weekly decline in nearly seven years, falling 22 basis points to 7.178%. Investors are also positioning for potential monetary easing or liquidity support from the Reserve Bank of India.
• Earlier regulatory changes have supported foreign participation, including the removal of certain investment concentration limits on longer-maturity FAR bonds, expanding access to 15-year, 30-year and 40-year securities.
• The broader shift in global investment flows, amid a correction in technology and AI stocks, has also increased interest in emerging markets such as India.

Key takeaway: Falling oil prices, lower US Treasury yields, a stronger rupee and attractive domestic bond yields are supporting a revival in foreign investment in Indian government securities.

NVIDIA Unveils GR00T 2 Robotics AI Model as Berkeley Researchers Advance Agentic Robotics

• NVIDIA unveiled GR00T 2, an open world action model designed for robot manipulation, on Monday at the Conference on Robot Learning (CoRL) in Austin, Texas.
• Built on NVIDIA Cosmos, GR00T 2 was trained partly on 100,000 hours of open source human first person video. NVIDIA said the model achieved a 71% success rate across 50 tasks using one demonstration per task, rising to 95% with five demonstrations.
• Foxconn is already applying GR00T 2 in server manufacturing, while Siemens is evaluating the model for industrial applications.
• Separately, researchers at the University of California, Berkeley, presented an approach called agentic robotics, in which AI agents write robot control code, test it in simulation and correct errors when tasks fail.
• Berkeley's Graph-as-Policy framework breaks complex robotic tasks into smaller skills, such as object detection, grasp planning and collision-free movement. AI agents combine these skills into executable programmes and test them across different scenarios using NVIDIA's Isaac simulation libraries.
• In one demonstration, OpenAI's Astra model reportedly generated a physics simulation from a short video of a robot cleaning ink from a metal bar, then produced control code that successfully operated a real robot.
• Berkeley roboticist Ken Goldberg said agentic robotics could bridge model-based and model-free approaches without requiring additional training data.
• Berkeley-based Ambi Robotics has applied the technology to parcel-sorting robots, increasing annual capacity by more than 15,000 packages per robot. The updated system has been deployed across 30% of its US fleet, according to the university.
• Berkeley and NVIDIA also introduced VABAR, a benchmark covering six industrial tasks with standardised variations and difficulty levels.
• NVIDIA highlighted Isaac Lab 3.0, which allows AI agents to create training environments. Combined with the Newton physics engine, it delivered up to 2.5 times the training throughput of Isaac Lab 2.3 on a vision-based dexterity benchmark, according to the company.

Key takeaway: NVIDIA and academic researchers are advancing AI systems that can move beyond recognising objects to planning, executing and improving real-world robotic tasks, opening new possibilities for industrial automation.

US Faces Questions Over $686 Million F-16 Upgrade Package for Pakistan as India Raises Security Concerns

• Indian defence analysts have accused Washington of double standards over its decision to approve a $686 million package to modernise Pakistan's F-16 fighter fleet, according to the South China Morning Post.
• The US Defence Security Cooperation Agency (DSCA) notified Congress of the proposed sale in December 2025. Lockheed Martin is the principal contractor for the programme, which covers approximately 70 Pakistani F-16 aircraft.
• The package includes $37 million in major defence equipment, covering 92 Link-16 tactical data-link systems and six inert Mk-82 500-pound bomb bodies for weapons-integration testing.
• The remaining $649 million covers avionics upgrades, cryptographic devices, precision navigation systems, identification friend-or-foe equipment, spare parts and training.
• The upgrades to Pakistan's Block-52 and Mid-Life Upgrade F-16 aircraft are intended to extend their operational service through 2040 while addressing flight safety concerns.
• India's Defence Minister Rajnath Singh reportedly raised concerns about the deal with US Defence Secretary Pete Hegseth during a meeting in Cebu.
• Indian analysts have questioned why Washington is modernising the fighter fleet of nuclear-armed Pakistan while simultaneously confronting Iran over its nuclear programme.
• Washington has justified the package as supporting counterterrorism cooperation. The DSCA maintains that the sale will not alter the basic military balance in the region.

Key takeaway: The F-16 upgrade package has reignited concerns in India over US defence policy towards Pakistan, despite Washington maintaining that the deal is intended to support counterterrorism operations and aircraft safety.

UBS, Julius Baer and Lombard Odier Say AI Stock Selloff Is a Positioning Reset, Not a Fundamental Shift

• UBS, Julius Baer and Lombard Odier believe the recent selloff in technology and AI stocks reflects crowded investor positioning rather than a deterioration in underlying business fundamentals.
• The decline followed sweeping Democratic gains in the US midterm elections on November 5, raising concerns about stricter AI regulations and potential restrictions on data centre construction.
• The Nasdaq Composite entered correction territory, while NVIDIA shares fell more than 9%. Chip stocks staged a partial recovery on Friday.
• Weak smartphone chip sales reported by Qualcomm added to market pressure, alongside concerns that a Democratic-controlled Congress could slow AI infrastructure investment.
• UBS Global Wealth Management Chief Investment Officer Mark Haefele described the decline as a positioning reset. He said the bank expects broad equity indices to rise over the next six to 12 months but advised clients to reduce excessive exposure to technology stocks.
• Haefele said current fundamentals do not justify a prolonged market downturn.
• Julius Baer's Enrico Chinello argued that investors may be underestimating the likelihood of federal AI policy constraints being blocked by a presidential veto. He identified potential state-level restrictions on data centre construction, particularly in Texas, as a bigger risk.
• Lombard Odier described the selloff as an unwinding of crowded trades rather than evidence of weakening AI demand. The bank said it had increased its exposure, while falling bond yields showed no clear signs of an impending recession.

Key takeaway: Major wealth managers view the AI stock correction largely as a positioning adjustment, although potential state-level restrictions on data centre development remain a significant risk to the sector.

Morgan Stanley, JPMorgan and SMBC Look to Offload AI Data Centre Debt as Banks Near Lending Limits

• Morgan Stanley, JPMorgan Chase and Sumitomo Mitsui Banking Corporation (SMBC) are exploring ways to offload exposure to AI data centre loans as they approach their lending limits, the Financial Times reported.
• The banks are considering private sales of loan portions and significant risk transfers, which allow lenders to retain loans on their balance sheets while transferring part of the potential default risk to investors.
• ING is separately marketing a portfolio of 12 data centre loans worth approximately $500 million. The package reportedly includes a $25 million loan slice linked to the Stargate project in New Mexico, with bids due by November 19.
• The shift comes as a technology stock selloff has wiped approximately $2.5 trillion from the Nasdaq 100, making some banks more cautious about financing new AI infrastructure projects.
• JPMorgan and MUFG previously spent more than six months attempting to offload $38 billion in construction loans tied to Oracle-leased data centre sites in Texas and Wisconsin. Some lenders reportedly considered selling the loans at a discount.
• Matthew Moniot of Man Group described the scale of these financing deals as unprecedented, highlighting the growing challenges associated with funding large AI infrastructure projects.

Key takeaway: Banks are increasingly looking to transfer AI data centre lending risks to private credit investors as financing exposure grows and market volatility makes lenders more cautious about funding new projects.

Iran Signals Shift Towards Offensive Military Doctrine as Supreme Leader Calls for Faster, Unrestricted Operations

• Iranian military spokesperson Mohammad Akrami-Nia said on November 9 that the armed forces are implementing recent directives from the Supreme Leader, calling for faster responses and greater effectiveness in future military operations.
• The new instructions reportedly introduce three priorities: rapid response, operational effectiveness and the ability to conduct operations without geographical restrictions.
• Akrami-Nia said Iran's military doctrine is shifting from a primarily defensive and deterrence-based approach towards a more offensive posture.
• He added that Iran would continue strengthening its military capabilities and deterrence regardless of domestic political developments in the United States.
• Separately, WTI crude oil fell to an intraday low of $86.48 per barrel, its lowest level since early September.
• US 10-year and 30-year Treasury yields also declined to intraday lows as oil prices weakened.

Key takeaway: Iran is signalling a more aggressive military posture, while falling oil prices and US Treasury yields reflect easing market pressure in the latest trading session.

Strategy Buys 1,036 Bitcoin for $81.9 Million, Total Holdings Reach 850,364 BTC

• Strategy purchased 1,036 Bitcoin for approximately $81.9 million last week at an average price of $79,012 per BTC, according to its Monday filing with the US Securities and Exchange Commission.
• The latest purchase takes the company's total Bitcoin holdings to 850,364 BTC, acquired for approximately $64.16 billion at an average cost of $75,456 per coin.
• Strategy's holdings now represent approximately 4.05% of Bitcoin's maximum supply of 21 million coins.
• The company raised $283.8 million in net proceeds last week by selling approximately 2.05 million MSTR common shares through its at-the-market offering programme.
• Of the proceeds, $188.3 million was used to repurchase approximately 1.89 million STRC preferred shares. Strategy also allocated $81.9 million to Bitcoin purchases and $13.6 million to its US dollar cash balance.
• The latest STRC buyback follows $208.2 million in repurchases during the previous week. Since the beginning of October, Strategy has spent approximately $1.06 billion on STRC buybacks, compared with $219.7 million on Bitcoin purchases.
• Its separate US dollar reserve declined to $4.77 billion from $4.79 billion after $21.1 million was used to pay preferred stock dividends. Meanwhile, its USD cash balance increased around 10% to $146.2 million.
• The latest Bitcoin acquisition follows a purchase of 811 BTC for $65.5 million in the previous week.

Key takeaway: Strategy continues expanding its Bitcoin holdings while directing a significant portion of its equity fundraising towards STRC preferred share buybacks, highlighting its parallel capital allocation strategy.

Google Launches Two New AI Chips to Challenge NVIDIA, Expands TPU Lineup With AMD Collaboration

• Alphabet’s Google is launching two new Tensor Processing Unit (TPU) variants, TPU 8tx and TPU 8i Max, as it looks to strengthen its position in the rapidly growing AI chip market and compete with NVIDIA.
• The TPU 8tx is designed for government agencies and companies in regulated industries that require secure and confidential computing. It will work alongside chips from Advanced Micro Devices (AMD) as part of a collaboration between the two companies.
• The TPU 8i Max is designed to handle AI applications requiring extended context windows, supporting the growing demand for more advanced AI systems and agent-based applications.
• According to Bloomberg, the launches mark an acceleration in Google's AI chip development. The company previously introduced new AI processors roughly once every two years but has expanded its product releases this year.
• Google’s chip division chief Amin Vahdat said the four TPU products will be optimized for different workloads, highlighting specialization as a key competitive advantage.
• The new variants are expected to be announced on Monday, further expanding Google's AI hardware portfolio.

Key takeaway: Google is accelerating its AI chip strategy with specialized processors targeting different workloads, intensifying competition with NVIDIA while expanding its collaboration with AMD.

Iran Rejects US ‘Iron Gate’ Plan as ‘Doomed to Fail’, Says IAEA Has Completed Inspections at Bushehr Nuclear Plant

• Iranian Foreign Ministry spokesperson Esmaeil Baghaei dismissed the US military’s ‘Iron Gate’ plan, calling it an attempt by American military officials to justify their failures. He said the initiative was “doomed to fail”.
• US Central Command announced on September 7 that Commander Cooper had ordered the formation of an ‘Iron Gate’ task force to prevent Iran from transporting advanced weapons and other supplies across borders through land routes and other means.
• The task force will coordinate with other US government agencies and comprises approximately 20 civilian and military personnel. It is headquartered in Tampa, Florida.
• On Iran’s nuclear programme, Baghaei said the International Atomic Energy Agency (IAEA) recently visited the Bushehr nuclear power plant and completed inspections there a few days ago.
• He reiterated that Iran remains a signatory to the Nuclear Non-Proliferation Treaty (NPT) and continues to observe its Comprehensive Safeguards Agreement, insisting that Tehran has not suspended its obligations.
• Baghaei blamed US and Israeli attacks on Iranian nuclear facilities for disrupting normal cooperation with the IAEA, saying Iran cannot cooperate in the usual manner while the situation continues.

Key takeaway: Iran has rejected the US effort to restrict its weapons supply routes while maintaining that it remains committed to nuclear safeguards, despite what it describes as obstacles caused by US and Israeli attacks.

Trump Says Countries Protected by US Must Reimburse Costs of War Against Iran

• US President Donald Trump told CBS’s 60 Minutes that countries protected by the United States would have to reimburse Washington for the money spent on the war against Iran.
• Trump said the US would recover all its military spending, insisting that the countries concerned would comply because they depend on American protection.
• He also highlighted US support for Israel, claiming that the country would not exist without American backing and saying, “If it weren’t for Donald Trump, Israel wouldn’t exist.”
• In the same interview, Trump said the US was close to reaching a deal to end Russia’s war in Ukraine. He also criticised Ukrainian President Volodymyr Zelenskyy over his earlier interactions with Russian President Vladimir Putin.
• Trump acknowledged that some of his administration’s immigration policies had been too harsh and said they had support mainly among the far right.
• He indicated that he was seeking an agreement with Democrats to grant legal status to non-criminal immigrants who have lived in the US for several years.
• Trump also spoke about his religious beliefs, saying he wanted to go to heaven rather than hell.

Key takeaway: Trump is signalling that US allies may be expected to shoulder more of the financial burden of American military operations, while also indicating a possible shift towards compromise on immigration policy.

Norway’s Sovereign Wealth Fund Says High Valuations Are Holding Back Renewable Energy Investments

• Norges Bank Investment Management (NBIM), which manages Norway’s sovereign wealth fund, wants to increase investments in renewable energy infrastructure, but elevated asset prices are limiting new allocations.
• The fund invested approximately €11 billion in renewable energy infrastructure last year. However, new investments this year are only slightly above €2 billion.
• Harald von Heiden, NBIM’s global head of energy and infrastructure, said the market has shifted from a buyer’s market to a seller’s market, making attractive investment opportunities harder to find.
• The fund is permitted to allocate up to 2% of its total assets to renewable energy and unlisted infrastructure projects.
• At the end of September, its unlisted renewable energy portfolio was valued at NOK 114 billion (around $12.1 billion), representing approximately 0.5% of the fund’s total assets. Including commitments through 2030, the allocation would rise to 1%.
• Renewable energy investments returned 7.5% in the third quarter, compared with 1.8% in the previous quarter.
• By comparison, equities returned 0.5%, unlisted real estate delivered a slightly lower return, while fixed income investments contributed negatively.

Key takeaway: Norway’s sovereign wealth fund remains keen to expand its renewable energy portfolio, but high valuations and limited attractive opportunities are slowing investment despite strong recent returns.

India’s $900 Billion Asset Management Industry Seeks Capital Gains Tax Exemption for Foreign Investors: Bloomberg

• India’s $900 billion asset management industry is urging the Narendra Modi government to scrap capital gains tax for foreign investors to attract more money into equities and fixed income markets.
• Fund managers say higher taxes on debt investments and uncertainty around tax rules are discouraging foreign participation. They are seeking tax parity between debt funds and equities.
• Foreign investors are on track to withdraw money from Indian equities for a third consecutive year, with outflows approaching a record $27 billion in 2026. Indian stocks have also underperformed most emerging markets over the past two years.
• Edelweiss Financial Services Chairman Rashesh Shah said removing capital gains tax for foreign investors could make India a more attractive long term investment destination.
• Currently, long term gains on listed equities held for more than a year are taxed at 12.5%, while short term gains attract a 20% tax.
• Fund managers also want restrictions on debt markets eased and greater issuance of dollar and rupee denominated masala bonds to attract global capital.
• SBI Funds Management Joint CEO Srinivas Jain said higher taxation on debt gains weakens incentives for investors to allocate money to fixed income securities.
• Finance Minister Nirmala Sitharaman has indicated she may consider changes to stock market taxation but has not confirmed any proposed revisions.

Key takeaway: India’s asset management industry is pushing for lower taxes and greater policy clarity to revive foreign investment flows, which have remained under pressure amid weak market performance and rupee depreciation.

Iran Claims Oil Smuggling Through Strait of Hormuz Completely Blocked

• Iranian state broadcaster IRIB, citing an Islamic Revolutionary Guard Corps (IRGC) Navy official, reported on November 9 that oil smuggling through the Strait of Hormuz had been completely blocked.
• The report attributed the disruption to the destruction of what it described as an "enemy" navigational aid system in the southern part of the strait.
• IRIB said no vessels used unauthorised routes through the Strait of Hormuz on the night of November 8.
• Separately, IRIB reported that the United States struck parts of Qeshm Island in southern Iran on the evening of November 8.
• Hormozgan Deputy Governor Nafisi said the strikes caused no damage to critical infrastructure or essential service facilities on the island.
• He added that the situation on Qeshm Island was under control and relevant authorities had been placed on full alert.

Key takeaway: Iran claims it has blocked unauthorised oil movements through the Strait of Hormuz, while reporting no damage to critical infrastructure following the latest US strikes on Qeshm Island. These claims have not been independently verified.

Citi Raises Nifty 50 Target to 28,000, Says US Midterm Results Could Benefit Indian Stocks

• Citigroup believes Indian equities could benefit from the US midterm election results, as a potential slowdown in artificial intelligence spending could trigger a rotation of global funds towards non-AI assets.
• Citi analyst Surendra Goyal said India's weighting in emerging market portfolios is currently near multi-year lows, leaving room for increased foreign investment.
• According to Citi's analysis, every one percentage point increase in India's weighting in emerging market portfolios could attract approximately $12 billion in inflows.
• Strong corporate earnings growth and lower crude oil prices are additional factors supporting the bank's positive outlook on Indian equities.
• Citi estimates that every $10 decline in crude oil prices could improve Nifty 50 earnings by approximately 2%.
• The brokerage has raised its December 2027 Nifty 50 target to 28,000 from 26,000.

Key takeaway: Citi sees potential foreign fund inflows, resilient earnings and lower oil prices supporting Indian equities, with a possible global rotation away from AI-related investments providing an additional boost.

HSBC Upgrades India to ‘Overweight’, Downgrades China to ‘Neutral’; Highlights Five Key Reasons bigbreakingwire.in

Iran Says US and Middle East Are Tired of Endless War as Trump Signals No Further Strikes

• Iranian Foreign Minister Abbas Araghchi said people in the United States, Iran and the wider Middle East are tired of prolonged conflict.
• Araghchi claimed that most Americans are increasingly frustrated with Israel and its role in drawing Washington into what he described as "endless wars".
• He said US President Donald Trump appears aware of growing American opposition to Israel's influence but seems puzzled by the public sentiment.
• Meanwhile, gold prices rose more than 1% on Monday as falling oil prices eased inflation concerns and investors awaited key US inflation data and fresh signals from the Federal Reserve.
• Oil prices declined after Trump said he was highly unlikely to order further strikes against Iran, while negotiations to end the conflict continue.
• KCM Trade Chief Market Analyst Tim Waterer said Trump's softer stance helped limit oil prices, while a modest retreat in the US dollar also eased some pressure on gold.

Key takeaway: Hopes of de-escalation between the US and Iran are easing oil supply concerns and supporting gold, while Tehran continues to highlight growing public fatigue with the conflict.

HSBC Upgrades India to ‘Overweight’, Downgrades China to ‘Neutral’; Highlights Five Key Reasons

• HSBC has revised its Asian equity market strategy, upgrading India from ‘Neutral’ to ‘Overweight’ while downgrading China from ‘Overweight’ to ‘Neutral’.
• The bank believes India's corporate earnings remain resilient and stock valuations have become more reasonable compared with previous levels.
• HSBC has identified five key factors supporting its positive outlook on India:

1. Resilient Corporate EarningsHSBC expects Indian companies to maintain sustainable earnings growth. Higher energy prices could lead to some downward revisions in earnings estimates, but the bank does not expect the impact to be significant enough to change the broader market outlook.2. More Reasonable ValuationsIndian equities have become more reasonably valued compared with earlier levels. HSBC believes the improved valuation environment offers better opportunities for investors, although this does not mean every stock is inexpensive.3. Strong Credit GrowthRising demand for loans from businesses and households could support growth across banks, insurance companies and other financial services providers. HSBC has identified financials as one of its preferred sectors.4. Domestic Consumption and Economic GrowthHSBC sees opportunities in businesses driven by domestic demand. Companies benefiting from household consumption, investment and India's broader economic growth remain attractive. The bank also believes measures supporting economic growth and the rupee could provide additional support.5. Portfolio Diversification Amid AI ConcentrationHSBC views India as a diversification opportunity compared with Asian markets where technology and AI-related companies have a larger influence on overall market performance. India could offer investors exposure to a broader range of domestic growth opportunities, although it remains vulnerable to market volatility.Why HSBC Turned Neutral on ChinaHSBC believes relatively inexpensive valuations and recent government policy measures could support Chinese equities. However, it sees limited catalysts capable of driving a sustained market rally or significant valuation expansion in the near term.HSBC's Preferred and Less Preferred Sectors

• Preferred: Financials, consumer discretionary, automobiles, real estate, industrials and hospitals.
• Less preferred: IT, consumer staples, oil and gas, utilities and pharmaceuticals.

Key takeaway: HSBC's upgrade reflects growing confidence in India's earnings resilience, improving valuations, credit growth and domestic consumption. The bank sees Indian equities as an attractive diversification option while adopting a more cautious stance on China.

Japanese Bond Yields Rebound as Investors Reassess Safe-Haven Demand After AI Sell-Off

• Japanese government bond yields rose on Monday, recovering part of last week's decline as investors reassessed demand for safe-haven assets following an AI-related equity sell-off.
• The five-year yield climbed 5.5 basis points to 2.10%, while the 10-year yield increased 6.5 basis points to 2.70%.
• Yields had fallen to multi-month lows on Friday as a sharp technology stock sell-off triggered demand for safer assets.
• Keisuke Tsuruta, senior bond strategist at Mitsubishi UFJ Morgan Stanley Securities, said uncertainty surrounding AI-related investment remains high and the impact of risk aversion needs close monitoring.
• However, he noted that the sharp decline in yields late last week could make a near-term rebound possible.

Key takeaway: Japanese bond yields are recovering after last week's flight to safety, although uncertainty surrounding AI investments and equity market volatility continues to influence investor sentiment.

Trump Signals No Immediate Escalation Against Iran, Qatar PM to Hold White House Talks

• US President Donald Trump said he does not intend to escalate military action against Iran for now, arguing that previous US strikes weakened Iran's conventional military capabilities and delayed its nuclear programme.
• In an interview with CBS's 60 Minutes, Trump acknowledged that the conflict with Iran and rising fuel prices had hurt Republican support.
• Trump said the likelihood of renewed US strikes would be low if diplomatic talks make progress, but stressed that any agreement with Iran must be very strong.
• Qatar's Prime Minister and Foreign Minister Mohammed bin Abdulrahman Al Thani is scheduled to meet Trump at the White House at noon on November 9. Qatar has been playing a key mediation role between Washington and Tehran.
• Al Thani said on November 7 that Qatar's mediation efforts were continuing and that the US remained willing to pursue a diplomatic settlement after the midterm elections.
• US sources said Vice President JD Vance has spent the past two weeks pushing for a new ceasefire and the resumption of nuclear negotiations, maintaining near-daily contact with mediation channels. Vance is reportedly expected to meet Al Thani privately before the White House meeting.
• Separately, Trump said he plans to issue a large number of pardons before leaving office, including to some participants in the January 6 Capitol attack.
• He also indicated that White House and Cabinet personnel changes could be imminent, expressed confidence in Defence Secretary Pete Hegseth and suggested Senator Marco Rubio would remain in his role.
• Trump said he has not decided whether to endorse a Republican candidate for the 2028 presidential election and acknowledged that some immigration enforcement actions by his administration had been excessively harsh.

Key takeaway: Washington is keeping the diplomatic option open as Qatar steps up mediation efforts, but Trump has made clear that avoiding renewed strikes depends on Iran agreeing to stringent terms.

NVIDIA CEO Jensen Huang Acknowledges Extramarital Affair, Board Launches Independent Investigation

• NVIDIA CEO Jensen Huang acknowledged an extramarital affair in a letter to employees posted on the company's website on November 8, apologising and saying he would accept responsibility.
• NVIDIA's board has initiated an independent investigation into the matter. Huang said he would fully cooperate with the process.
• The board has publicly expressed support for Huang, while a company spokesperson confirmed that he will remain CEO and continue leading NVIDIA without interruption.
• US President Donald Trump described Huang as a good person, praised his contributions to the United States and said he should continue as NVIDIA's CEO.
• NVIDIA shares fell more than 3% in US after-hours trading following the announcement. NVIDIA-linked perpetual futures also declined approximately 3%.

Key takeaway: The controversy has prompted an independent board investigation and weighed on NVIDIA shares in after-hours trading, although the company has confirmed that Huang will continue as CEO.

Binance to Close Accounts in France, Spain, Italy and Poland Over EU MiCA Compliance Issues

• Binance is reportedly preparing to close user accounts registered under its local entities in France, Spain, Italy and Poland following compliance issues related to the European Union's Markets in Crypto-Assets (MiCA) regulation.
• The regulatory transition period under MiCA has ended, requiring crypto asset service providers to obtain authorisation to continue operating legally across the EU.
• Binance has reportedly suspended fiat and cryptocurrency deposits for affected accounts. Users will continue to be able to withdraw their remaining assets until the final closure deadline.
• All accounts linked to the four affected national entities are scheduled to be permanently closed on December 31, 2026.
• Starting November 29, 2026, accounts that continue to hold assets will reportedly face a monthly management fee of 0.025% of their total balance, subject to a minimum charge of 10 USDC.
• The fee will be deducted from available USDC balances first. If insufficient USDC is available, Binance will reportedly convert other cryptocurrency holdings to cover the charge.
• The reported restrictions apply to users registered under the affected national entities. Binance's wider global platform is not covered by the announced account closures.

Key takeaway: Binance users in France, Spain, Italy and Poland may need to transfer their assets before November 29 to avoid monthly charges and complete withdrawals before the December 31 account closure deadline.

Anthropic Signs $3.4 Billion Gas Power Deal to Secure Electricity for AI Data Centres

• Anthropic has agreed to a $3.4 billion deal to secure gas-fired power generation for its data centres, according to the Financial Times. The counterparty has not been identified.
• The AI company, which is preparing for a potential IPO, is increasingly turning to dedicated on-site natural gas generation to meet its rapidly growing electricity requirements.
• Anthropic's IPO filing reportedly states that some planned data centres will rely on dedicated natural gas power generation. It also warns that projects could be delayed or abandoned without secure gas supplies.
• A shortage of gas turbines is slowing data centre construction, prompting developers to seek alternative power equipment and install generation facilities on-site rather than wait for grid connections.
• Engine manufacturer Wärtsilä has also reported strong demand from data centre developers, with lead times for its engines continuing to increase.
• Anthropic already has significant gas-powered capacity planned. Nscale's Monarch campus in West Virginia, where Anthropic agreed to lease 460 MW for $45 billion over six years, will use 864 gas-fired engines during its first phase.
• Generator manufacturer ERock has separately announced a 470 MW agreement with Anthropic.

Key takeaway: Anthropic's growing reliance on natural gas highlights how electricity availability and shortages of power-generation equipment are becoming major constraints on the expansion of AI infrastructure.

Taiwan Imposes Short-Selling Curbs After Worst Weekly Stock Market Decline Since 2001

• Taiwan's Financial Supervisory Commission announced new restrictions on short-selling, effective November 9, following a sharp selloff that pushed the Taiex to its steepest weekly decline since September 2001.
• The Taiex fell 4.5% on Friday and lost 12.2% over the week. Taiwan Semiconductor Manufacturing Co. dropped as much as 9.8% during the session before closing 4.69% lower.
• South Korea's Kospi lost more than 10% during the week and triggered a 20-minute trading halt on Friday. SK Hynix fell 10.44%, while Samsung Electronics declined 6.35%. Together, the two companies account for around 40% of the index's market value.
• Japan's Nikkei 225 fell below 60,000 for the first time since May and entered bear-market territory, trading more than 20% below its June peak.
• The selloff followed a sharp decline in the Nasdaq Composite amid concerns over potential US Democratic-led restrictions on the artificial intelligence industry.
• MSCI's emerging markets index dropped 4.7%, reaching its lowest level since early April.
• Pepperstone analyst Dilin Wu told Reuters that underlying market pressures had not disappeared. South Korean officials also discussed emergency measures, including exemptions from loan collateral requirements for investors.

Key takeaway: Concerns over AI regulation and heavy losses in major technology stocks have triggered a broad Asian market selloff, prompting Taiwan to tighten short-selling rules and South Korea to consider emergency support measures.

Israel Says Mission Against Iran Is Not Complete, Warns of Preemptive Action

• Israeli Defence Minister Israel Katz said on November 8 that Israel's mission against Iran was "not yet complete", accusing Tehran of attempting to restart efforts to acquire nuclear weapons.
• Katz also alleged that Iran was pursuing other activities that pose serious threats to Israel's national security. He said Israel would take preemptive action to eliminate these threats.
• Katz provided no evidence to support the allegations and did not specify what actions Israel might take.
• He said Israeli forces would not withdraw from positions in Gaza, Lebanon and parts of Syria.
• Katz warned that Hezbollah would face "severe strikes" if it coordinated with Iran in attacks against Israel.
• Speaking at a war commemoration ceremony, Katz also called on Israelis to remain united amid national security threats.
• Prime Minister Benjamin Netanyahu had urged opposition parties on November 7 to join Likud and its political allies in forming a national unity government.

Key takeaway: Israel's latest statements signal that military tensions with Iran remain unresolved, with Katz warning of possible preemptive action and further escalation involving Hezbollah.

Iran Claims Three Oil Tankers Exploded and Caught Fire in Strait of Hormuz

• Iran's Islamic Revolutionary Guard Corps (IRGC) Navy claimed that three oil tankers exploded and caught fire in the Strait of Hormuz on November 8.
• According to the IRGC Navy, the latest incident involved a tanker attempting to transit the strategic waterway through an unauthorised route.
• The Iranian force said the vessel exploded and caught fire after attempting the transit, adding that two other tankers had also caught fire earlier in the day.
• The IRGC Navy said Iran had repeatedly communicated its navigation regulations for the Strait of Hormuz to all vessels.
• It warned that ships violating these rules and using unauthorised routes would face similar consequences.

Key takeaway: Iran's latest claims of tanker explosions in the Strait of Hormuz raise further concerns over maritime security and the disruption of one of the world's most critical oil shipping routes. The incidents have not been independently verified.

Hindustan Coca-Cola Holdings Files DRHP for IPO Through Sale of Up to 99.75 Crore Shares

• Hindustan Coca-Cola Holdings (HCCH) has filed its draft red herring prospectus (DRHP), dated November 6, for an initial public offering comprising an offer for sale of up to 99.75 crore shares, according to Business Standard.
• The IPO is entirely an offer for sale by existing shareholders. HCCH will not receive any proceeds from the issue.
• The Coca-Cola Company holds a 60% stake through an overseas holding entity, while Jubilant Beverages owns the remaining 40%. The Jubilant Bhartia Group acquired its stake for ₹12,500 crore and became a promoter in July 2025.
• Earlier reports estimated the IPO size at around ₹9,500 crore and the company's valuation at approximately $10 billion. A listing on the BSE and NSE is expected in 2027.
• HCCH operates its bottling business through subsidiary Hindustan Coca-Cola Beverages, with a significant presence in southern and western India.
• For the quarter ended June 30, 2026, revenue from operations increased 20.46% year-on-year to ₹4,310.17 crore, while sales volume grew 18.61%.
• EBITDA margin, excluding other income and exceptional items, improved to 17.20% from 13.76% a year earlier.
• The DRHP estimates the ready-to-drink non-alcoholic beverage market across the company's key states at ₹63,730 crore in FY26, with a projected increase to ₹1,18,320 crore by FY31.

Key takeaway: The proposed IPO will provide an exit opportunity for existing shareholders, while HCCH's latest financial performance reflects strong revenue growth, higher sales volumes and improving margins.

Adani Enterprises Plans Annual Capex of Up to ₹40,000 Crore for Next Two Years

• Adani Enterprises plans to invest ₹35,000 crore to ₹40,000 crore annually over the next two years, with airports, data centres and its proposed PVC complex at Mundra driving most of the spending.
• The investment guidance follows record half-year EBITDA of ₹11,958 crore for the six months ended September 30, 2026, marking a 56% increase year-on-year.
• Total income rose 62% to ₹71,569 crore during the first half. However, profit after tax attributable to owners fell 92% to ₹332 crore, primarily due to a one-time settlement of ₹2,644 crore with the US Office of Foreign Assets Control (OFAC).
• AdaniConneX, the company's data centre joint venture, secured a new 240 MW hyperscale order in Navi Mumbai during the quarter, taking its contracted capacity above 1.2 GW.
• Its operational data centre capacity stood at 94.6 MW. The company expects this to increase to 120–150 MW by the end of the current financial year and approach 500 MW over the following 12–18 months.
• The 1-million-tonne-per-year PVC complex at Mundra involves an estimated investment of ₹26,000 crore. Around 60% of construction has been completed, with the first phase expected to be commissioned in the next financial year.
• CEO Arun Bansal described the company as entering a "value realisation phase" following its recent expansion and investment cycle.

Key takeaway: Adani Enterprises is preparing for another major investment phase, with airports, data centres and PVC manufacturing expected to drive growth over the next two years.

$11.4 Million Shipment of NVIDIA AI Chips and Hardware Disappears in California

• Oakland police are investigating the disappearance of NVIDIA AI chips and computer hardware valued at $11.4 million.
• The shipment left Oakland on August 29 in a truck scheduled to travel to Fort Worth, Texas. Although the pickup paperwork matched the planned shipment, the vehicle subsequently lost contact.
• The cargo owner filed a police report on September 13 after the shipment failed to arrive.
• Police tracking records reportedly show multiple prolonged stops along the route, with the truck last tracked in San Bernardino County, California.
• No suspects have been arrested, and investigators have not ruled out the possibility that the high-value chips were diverted overseas.
• Analysts say advanced AI chips can command prices nearly twice as high in overseas markets compared with the US, creating incentives for cargo theft and illegal resale.
• This is not the first reported theft involving NVIDIA hardware. Experts warn that increasingly sophisticated operations targeting high-value technology shipments are raising transport security risks.

Key takeaway: The disappearance of an $11.4 million NVIDIA hardware shipment highlights growing security risks in the global supply chain for high-demand AI chips.

Explosions Rock Riyadh as Saudi Arabia Intercepts Multiple Missiles; Financial District Building Reportedly Damaged

• Multiple loud explosions were heard across Riyadh on November 8 after Saudi Civil Defence issued a potential danger alert for the capital. The alert was later lifted.
• Saudi-led coalition spokesperson Turki al-Maliki said air defences intercepted and destroyed two ballistic missiles launched by Yemen's Houthi movement towards Riyadh.
• The coalition subsequently reported intercepting two cruise missiles in the Riyadh area and southern Saudi Arabia. It had earlier intercepted another ballistic missile targeting eastern Saudi Arabia.
• Civil Defence alerts issued for Dammam, Dhahran and Abqaiq were also lifted after the reported threats were addressed.
• AFP, citing witnesses, reported that a building in Riyadh's King Abdullah Financial District was struck and damaged by a projectile. Four sources also identified the damaged building as housing a Saudi Aramco facility.
• Saudi authorities had not immediately commented on the reported damage.

Key takeaway: Saudi Arabia reported intercepting multiple incoming missiles, while reports of damage to a building in Riyadh's financial district raise concerns over the escalation of regional security tensions.