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MSCI's August index re-jig will add four Indian stocks and remove three from the global key index.
MSCI, a global index provider, announced on Thursday that it would 'add four Indian companies to the widely-tracked Global Standard Index and remove three in its August review. This highlights a 'continuing churn' of India’s representation within global passive portfolios. MSCI stated that the changes would be made after August 31st 2026's close of business and will take effect September 1st. Adani Energy Solutions (the Adani Group's power distribution and transmission arm), Lenskart (an omnichannel eyewear retailer), and Groww (a digital investment platform and brokering platform) will all?enter this index. These companies will replace Balkrishna Industries (a tyre manufacturer), SBI Cards (a credit card issuer), and Astral, a building materials company. After the reshuffle the number of Indian companies in the MSCI key index will increase from 165 to 166. Nuvama Alternative and Quantitative Research estimates that India's weighting in the global standard will also increase to 11.9%, from 11.8%. Exchange-traded funds (ETFs) and passive investors who replicate MSCI benchmarks are expected to buy significant amounts of shares. Nuvama Alternative and Quantitative Research estimates that potential inflows for Laurus Labs are about $598 millions, for Lenskart $352 millions, for Adani Energy Solutions $310 million, and for Groww $256 million. Balkrishna Industries SBI Cards Astral and other companies could experience passive outflows estimated at $169, $143 and $138 millions, respectively. The review also re-calibrated the weights of existing index members. Eternal will?attract?the?largest passive inflow at $674 million following an increase in weight. Adani Enterprises, Adani Ports, and Adani Ports are expected to receive about $202 and $77 millions respectively. Reliance Industries may face an outflow of $523 million while Jio Financial Services could see $61 millions. Separately MSCI's Small?Index Review added Amagi?Media Labs and Ather Energy to the index, as well as Clean Max, Embassy Developments and Patanjali Foods. Rubicon Research and Sedemac were also removed, along with Sky Gold and Diamonds. United Breweries and WeWork India. (Reporting and editing by Rashmi aich in Bengaluru)
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Hegseth welcomes Colombia into the anti-drug alliance following its election
U.S. Secretary of Defense Pete Hegseth welcomed Colombia into a coalition of Western Hemisphere countries that are committed to fighting drugs. This follows the inauguration of Colombia's conservative president. Hegseth stated that Colombia has also authorized "joint operations to destroy terrorists and terror networks." The so-called Americas Counter-Cartel Coalition met in Panama. Its canal was a focal point of Latin America Policy under President Donald Trump. The U.S. has dramatically expanded its policy since then, with military strikes by the U.S. on suspected drug ships last September which have so far killed over 200 people and a U.S. led commando raid that took down Nicolas Maduro as president of Venezuela in January. Hegseth, who was at the Panama meeting with the coalition allies, encouraged them to withdraw from the International Criminal Court. He compared drug dealers to terrorists from al Qaeda and the Islamic State. Hegseth, speaking at a Panama City hotel, invoked the Monroe Doctrine, a 19th century policy that asserted U.S. dominance across the Americas, which critics attribute to decades of "U.S. intervention. He called it "Donroe Doctrine", a play on Trumps name. Hegseth stated that "we will defend our hemisphere against external threats," such as narcotraffickers and foreign influence. COLOMBIAN CRACKDOWN The Trump administration has backed up the Colombian president Abelardo De La Espriella in his vow to crackdown on security. On Friday, it announced plans to provide U.S. assistance of $1 billion to his government. De La Espriella, during his Friday inauguration speech, vowed "to definitively eradicate the scourge of illegal crops" and pledged to join the Shield of the Americas Program founded by Trump. De La Espriella blamed his leftist predecessor Gustavo Petro for the?expansion armed groups. De La Espriella’s election was part a rightwards shift that is sweeping Latin America. Weak economies and increasing crime in Peru, Argentina Chile, Ecuador Bolivia and Panama have changed voter priorities, allowing hard-right candidates who were once on the fringe to gain traction through promises of crackdowns amid an international rise of right-wing nationalism. Trump's administration in Panama won a major victory from the country’s Supreme Court after raising concerns about China's encroachment. Hong Kong-based CK Hutchison lost its?port concessions that it held for almost three decades through the local unit Panama Ports Company. Panama Canal is responsible for 5% of the global maritime trade. Control of its entry ports has become a geopolitical flashpoint between Washington and Beijing. In his remarks, Panama's President Jose Raul Mulino referred to drug trafficking as the "biggest challenge" facing the region. He also dismissed the concerns that the U.S. led coalition might infringe upon the sovereignty of its members. He did not mention China. He said that the real threat to sovereignty is the transnational criminal groups who traffic in drugs and people. Mulino stated that "there's no way there will be a lasting peace if (this enemy) advances." Reporting by Phil Stewart from Panama City, and Idrees Ali from Washington. Editing by Alistair Bell.
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American Airlines changes its leadership after CEO is under pressure to close the profit gap
American Airlines has reorganized its senior management. It is expanding oversight of the commercial and operations teams, and adding a former Spirit Airlines executive as the head of technical operations. CEO Robert Isom is under pressure to reduce American Airlines' profit gap. Isom, in a memo to staff seen by. acknowledged that there was a "meaningful. gap" between American Airlines' current performance and what he believed the airline should achieve. He described the actions as the "first in a series" of steps aimed at?strengthening the team, improving alignement and accelerating execution. The gap between the company and Delta Air Lines or United Airlines had already been?wider before the recent fuel price shock. This was a result of the U.S. - Israel attacks on Iran, which sparked a war causing?energy prices. John Bendoraitis, the former Spirit Airlines COO, will lead American's technical operations. This is one of several moves made to "try to boost performance". Chief Commercial Officer Nat Pieper's duties will include marketing and branding, Chief Customer Service Officer Heather Garboden will be responsible for reservations and service recovery and JC Gulbranson is in charge of airports and planning. According to the memo, Ron DeFeo will be stepping down as Chief Communications Officer. Caroline Clayton will be responsible for communications, and Steve Neuman will handle government affairs. Garboden, Gulbranson and Neuman are joining the senior leadership team of American. American will achieve roughly break-even in 2026 as the higher costs of jet fuel offset any gains made from increased revenue. Delta and United are expecting solid profits. Isom is already under pressure. Flight attendants called for a change in leadership earlier this year, and its pilot union questioned if the current management can close the gap. Nick Silva, the head of the pilots' union in America, recently said that American's breakeven forecast was not matched by profits made by rivals. He argued that "rising costs for fuel are not holding back our competitors from innovation and profit." In a memo sent to pilots, Silva stated that the union sought a meeting with the board of?American in order to discuss concerns regarding the future of the company but was "rebuffed." He said that since then, the union has held discussions with investors, analysts and other stakeholders. "The consensus is that something must change. "The only question that remains is, 'When'?" Silva wrote. Isom said he would not change course. He stated that American had "the right strategy" and the "right team" to deliver on it, as it focuses its efforts on expanding its network globally, growing premium revenues, and strengthening its AAdvantage program. (Reporting and editing by David Gaffen; reporting by Rajesh Kumar Singh)
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Colombian coffee exports are restricted following the earthquake
Market participants reported on Wednesday that coffee movement is limited in the main producing areas of Colombia, and that loadings into the export'market at the top coffee port Buenaventura are restricted - while the port management assesses possible damages. The 7.4-magnitude earthquake that struck Colombia on Monday severely damaged the main coffee-producing region, which is the third largest coffee-growing country in the world and a major supplier of arabica beans. The Colombian Coffee Federation and Sucafina, a leading soft commodities trader, reported that there were landslides blocking local roads in the mountainous area where coffee is grown. 60% to 70% of Colombian exports go through the port Buenaventura. The federation said that "port terminals in Buenaventura temporarily suspended their operations as infrastructure inspections were conducted and landslides which affected?access road?were addressed." Sucafina said that the movement in and around Buenaventura and the Eje Cafetero region (coffee-growing region) are currently restricted. However, the coffee federation said that exports continued unabated in other ports. This included Cartagena and Santa Marta which accounted for a lesser share of shipments. Sucafina - which supplies many roasters with Colombian coffee in the U.S. - said that it was evaluating alternate routes and logistic solutions for?the coffee shipments. Around a quarter all coffee consumed in the United States, the largest consumer of the beverage on the planet, comes from Colombia. Buenaventura Port said that it will gradually resume certain operations in areas of the complex that are considered safe. Port officials'said they would allow customers to retrieve containers that had arrived on the port site as part of imports. The port also said it would allow clients to access'some coffee and sugar warehousings' at the site, but would still keep a hold on arrivals of containers full for export. Reporting by Marcelo Téixeira, New York; Luis Jaime Acosta, Bogota. Editing by Alistair Bell.
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Source: Credible missile threat led Trump to secretly switch aircraft
The Secret 'Service' was prompted by the threat that Air Force One could be attacked by a shoulder fired missile to secretly transfer President Donald Trump on an unmarked government plane during a recent trip to Turkey, according a person who has been briefed about the issue. Source: The threat was made on the last day of Trump's NATO summit visit in Ankara amid increased tensions with Iran. Secret Service determined that the threat was credible and imminent. This prompted an extraordinary operation designed to hide the U.S. President's movements. Sources declined to reveal where the intelligence was gathered, but claimed that officials were pressed for time and had to devise plans in the last moment. Source: Trump and a small team of aides secretly switched from the large blue-and-white presidential aircraft to a smaller and more unassuming C-32A jet on the flight out of Turkey, July 8. Air Force One, which was carrying senior officials of the administration, White House staff, and the traveling press corps, departed separately. Trump said to reporters that the Secret Service is responsible for the security of the president. He was able to fly from Ankara, Turkey to a refueling station in Britain without incident. Trump said to reporters that he believed the plane he flew in was at greater danger, but did not provide any evidence. "I believe it was at greater risk, because I think they'd be more likely go for that plane." In order to maintain their security, U.S. Presidents, including Trump have sometimes traveled in secrecy while visiting war zones or regions with high risk. But these trips usually involved journalists travelling with the president being given advance notice. Some journalists were given advance notice of President George W. Bush's Thanksgiving 2003 trip to Baghdad. Those covering Bush's holiday in Crawford were also misled. After being told that Bush would be spending Thanksgiving with his family, the press was'shocked' when he suddenly appeared in Iraq. Sources said on Wednesday that the Secret Service didn't have time to spend in Turkey. The source stated that the Secret Service was scrambling in order to stop what they believed to be a credible and imminent threat. The Washington Post?reported details of the operation for the first time this week, over a month after its execution. The New York Times reported?U.S. Officials were shocked to learn that?Iranians knew exactly where Trump stayed in Ankara and even the floor of his hotel. The source claimed that U.S. secretary of state Marco Rubio was on board Air Force One, which is now being used as a decoy. Also aboard were Treasury Secretary Scott Bessent, White House Communications Director Steven Cheung and other aides. There were also the usual 13-person media pool including a reporter and photographer. Sources say that White House deputy chief staff Dan Scavino and executive assistant Natalie Harp, as well as director of Oval Office Operations Walt Nauta, travelled in the catering truck to meet Trump. Media commentators and legislators have questioned if the operation put Trump's aides, journalists and other passengers on the plane that was presumed to carry the president at risk. Sources said that Trump was determined to keep the plan secret, as tensions with Iran, which borders Turkey, escalated. Turkish officials have not commented on the threat.
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Source: Credible missile threat led Trump to secretly switch aircraft
The Secret Service secretly moved President Donald Trump to an unmarked government plane during his trip to Turkey in the last month after a 'threat was made that Air Force One would be attacked by a shoulder-fired rocket. Sources said that the threat was made on the last day of Trump's NATO summit in Ankara, amid increased tensions between Iran and Turkey. The Secret Service considered the threat credible and imminent, prompting a special operation to hide the U.S. President's movements. Source refused to reveal where the intelligence originated. Source: Trump and a small group used a catering van to secretly switch from a large blue-and-white Presidential aircraft to a smaller nondescript C-32A?jet to fly out of Turkey, while Air Force One left separately with senior administration officials, White House Staff, and traveling press corps. Trump said to reporters that the switch was made at the direction by the Secret Service, the agency responsible for presidential security. He made a fuel stop in Britain after flying from Ankara. Trump said to reporters without providing any evidence that the plane he flew in was actually at higher risk. "I believe it was at greater risks because I think they would more likely go after that plane." The Washington Post reported the details of this operation for the first time in this week's edition, over a month after its?conduct. The New York Times reported on how U.S. officials had been alarmed by the discovery that Iranians were aware of where Trump stayed in Ankara and even which floor he was staying at. The'source' said that U.S. Sec. of State Marco Rubio was on board the Air Force One jet, which is now being used as a decoy. Also aboard were Treasury Secretary Scott Bessent, White House Communications Director Steven Cheung and other aides. There was also the usual 13-person media pool including a reporter and photographer. Sources said that White House deputy chief-of-staff Dan Scavino and director of Oval Office Operations Walt Nauta travelled in the catering truck along with Trump. Media commentators and legislators have questioned if the 'operation' put Trump's aides, journalists and other passengers on board the plane that was presumed to be carrying the president at risk. Sources said that Trump was determined to keep this ruse secret, as tensions with Iran escalated. Iran borders Turkey. Turkish officials have not commented on the threat immediately.
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Ship recycling company GMS purchases two tankers that are subject to US sanctions
GMS, a Dubai-based company, has received approval from the U.S. The government has approved the scrapping of?two oil tankers that were damaged by sanctions. This comes a few months after the ship recycler secured agreements to recycle four container ships. In recent years the use of shadow fleet tankers, also known as "shadow fleets", has increased, with hundreds transporting Iranian and Russian oil without any safety or insurance checks. The major shipowners are calling for the faster demolition of these vessels. They warn that they pose serious environmental and safety hazards. 'DESTINED TO RESPONSIBLE RECYCLING GMS, which purchases ships and recycles them at regulated yards, mostly in Asia, has received U.S. licenses for two tankers on 8 August, according to Yogesh Rehani. "GMS conducted business with the U.S. Government, and GMS did not pay any money to the previous owners sanctioned by the government. Rehani stated that the vessels were now headed for recycling, but did not provide details about the price paid. The government cannot keep a seized tanker in its custody forever without incurring any cost or risk to operations. Delaying disposal not only increases costs, but also decreases value every day. All of this falls on taxpayers. A spokesperson for the U.S. Treasury said that "the U.S. has committed to finding responsible solutions" to remove sanctioned vessels from the water. The case is assessed on an individual basis. GMS confirmed that the two tankers were the Marinera & the Galileo. In?January 2026, the U.S. took possession of the Russian-flagged Marinera (formerly known as Bella-1), as part efforts to reduce Venezuelan oil exports at that time. In January, the?Galileo (previously?called Veronica) was also seized as part of U.S. actions against Venezuela. Seizing a ship is a quick way to enforce the law, but the actual vessel still needs to be managed. Rehani explained that it requires security, "crewing, maintenance and marine services, as well as a final destination." GMS's role is to ensure that the disposal of waste is done responsibly, where the authorities in the U.S. Authorities determine that recycling is the best way to remove defaulters from the system, and prevent them from reentering the nefarious business. GMS announced earlier this year that it had received approval from the United States to scrap four containers ships which were subject to sanctions related to Iran. Jonathan Saul, Timothy Gardner. Mark Potter (Editing)
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Air Canada shares rise after a loyalty program deal, and the airline expects a strong fall season.
Air Canada announced on Wednesday that it expects 'one of its strongest fall seasons ever, thanks to corporate travel. Despite cost pressures, the airline set its latest core profit target for this year below analyst expectations. Air Canada's shares rose 14% during morning trading following an agreement by funds to acquire a minority stake of its loyalty program Aeroplan. Canada's largest airline restored its annual core profits target on Tuesday. However, it was at a lower level compared to its previous suspended outlook due to the volatility of the U.S./Israeli war against Iran. Mark Galardo, Air Canada's Chief Commercial Officer, told analysts that the company was looking at "a very positive setup for the Fall, one of the strongest (ones) we've seen in recent history." As corporate travel increases in the fall, there is less seasonality for the carrier. RISE IN LABOR AND FUELS?COSTS U.S. travelers and Canadians continue to travel internationally and spend on premium airline offerings. This helps North American carriers, whose balance sheets are being squeezed by higher fuel and labor costs and the war in the Middle East. John Di Bert, Chief Financial Officer of Air Canada, told analysts that he expected the airline's cost to increase more slowly in the second half of the year. Unit costs are set to rise between 4% and 5%. The adjusted cost per available mile increased by 6.55% in the first half of this year. The company anticipates a core adjusted profit between C$2.9 billion and C$3.2 billion in 2026. It had previously projected C$3.35 to C$3.75 Billion. According to LSEG data, analysts expected an average of C$3.23billion. The cost of aircraft jet fuel accounts for roughly a quarter (or more) of the operating costs of airlines, which makes them susceptible to sudden increases or swings. Air Canada anticipates that it will offset approximately 60% of the additional jet fuel costs incurred in the third quarter compared to its initial assumptions, before the Iran War began late February. Hedging gains are included. It is expected to offset all fuel cost increases for the fourth quarter. Air Canada announced Tuesday that funds managed Blackstone and by three Canadian funds made a C$2.5billion minority equity investment into the loyalty program Aeroplan of the carrier. The proceeds would be used to help pay down debt. Michael Rousseau, CEO of the company, told analysts that this transaction "simply strengthens our balance sheets and creates value for all stakeholders." Fitch Ratings changed its outlook on Air Canada's rating to positive, from stable. The deal with Aeroplan was cited as the reason for the change. They also confirmed the issuer default rating of BB.
Wall Street Journal, August 13,
These are the most popular?stories from the Wall Street Journal. These?stories have not been verified and we cannot?guarantee?their accuracy.
Apple is negotiating new deals with publishers in order to use their content for delivering current news and information as part of its effort to improve Siri, the voice assistant powered by AI.
Federal aviation officials plan to relocate air-traffic-control antennas and implement new procedures in order to prevent a repeat of the?safety accident with Marine One last week near a busy Washington D.C. airport.
As part of discussions on reworking the U.S., Mexico-Canada Agreement, the Mexican government has pushed the U.S. for a lower tariff rate on North American cars.
- ?Alphabet's top scientist, Demis Hassabis, held discussions with government officials and leaders ?of other artificial-intelligence labs about forming a ?new independent industry ?safety entity in the weeks before he relinquished his role as ?chief executive of Google ?DeepMind.
The Swedish startup Lovable raised new funds with a valuation of $13.3 billion, which highlights the?enthusiasm? for tools that allow users to code their own vibes.
Ted Decker, the Home Depot CEO will be taking a medical leave. (Compiled by Bengaluru Newsroom)
(source: Reuters)