10-10
Strengthening El Nino could cut India’s 2026-27 sugar output and push up prices, WMO warns
The World Meteorological Organization has warned that a severe rainfall deficit in India in 2026 could lower sucrose content in sugarcane, reduce the effective harvested area and curb overall output, with a near-100% chance that El Nino conditions persist through February 2027. Indian authorities say speculation and hoarding in parts of the trade have also contributed to a recent rise in retail sugar prices.
10-10
10-2
UN FAO says world food prices climbed to highest level in nearly four years in September
FAO data show international sugar prices rose to an 18-month high in September on concerns over an El Nino weather pattern. Wheat futures also briefly hit a three-year peak early last month after Black Sea trade was disrupted. FAO kept its 2026 global cereal production forecast at 2.979 billion metric tons, down 2.1% from the prior year’s peak but still the second-largest harvest on record. It also lowered its 2026/27 global cereal trade forecast by 0.7% from September due to constrained Black Sea shipping routes.
10-2
10-1
Maharashtra drought puts India’s soybean and tur dal output at risk, data show
Maharashtra is facing drought conditions in large areas, raising concerns for supplies of key crops including soybeans, cotton, sugarcane and onions. The state accounts for 38.5% of India’s soybean output and 32.8% of its tur dal production. Major reservoir storage has fallen to 75.5% of capacity from 88.3% on the same date last year, with some regions seeing sharper declines, potentially disrupting agricultural supply.
10-1
6-23
SpaceX shares drop 23% in three days, wiping more than $600 billion after debut bond plan
SpaceX shares have fallen 23% over three sessions, erasing more than $600 billion in market value and closing at $154.60. The company said it will sell investment-grade bonds for the first time, seeking to raise at least $20 billion to support an expansion of its AI business, and it has signed a computing-supply deal with AI startup Reflection AI. SpaceX remains the world’s sixth-largest company and its shares are still about 15% above the $135 IPO price, though analysts say the current valuation already reflects much of its long-term growth potential.
6-23
6-22
Texas woman, 76, killed after Tesla Model 3 on Autopilot crashes into her home
A 76-year-old woman was killed after a Tesla Model 3 operating with an automated driver-assistance system crashed at a high rate of speed into her home in Katy, Texas at about 8 p.m. local time on Jun 19. The victim, Martha Avila, was inside when the car slammed through a brick wall and hit her, and she later died at a hospital after being airlifted by medical helicopter. The driver, Michael Butler, showed no signs of intoxication and cooperated with investigators, the Harris County Sheriff's Office said. The crash has renewed public scrutiny of Tesla’s Autopilot, even as the company’s manuals tell drivers to keep their hands on the wheel and be ready to take control.
6-22
6-19
Pentagon to seek about $80 billion from Congress for Iran war costs and other expenses
The US Defense Department plans to ask Congress for around $80 billion in wartime funding to cover costs from the Iran war and other expenses. The conflict has disrupted shipping through the Strait of Hormuz, a key route for global oil supplies that carries about 20% of seaborne crude. The Pentagon has said the war’s cost has climbed to nearly $29 billion and that tight weapons stockpiles have affected arms sales to Taiwan. Democrats say President Donald Trump launched the war without congressional authorization, violating the War Powers Act.
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6-19
6-17
Meta rolls out Rs 99-a-month subscriptions for Facebook, Instagram and WhatsApp as it tests AI tiers up to Rs 1,939
Meta has launched paid subscription plans globally for Facebook, Instagram and WhatsApp, pricing standard tiers at Rs 99 per month, and is testing higher-end AI subscriptions including Meta One Premium at Rs 1,939 per month. The move comes as the company ramps up spending on AI infrastructure, lifting its 2026 capital expenditure forecast to $125 billion-$145 billion. User response has been muted, and analysts point out that 97.6% of Meta’s revenue last year still came from advertising, raising questions about how meaningful subscriptions can be. The development is tied directly to Meta shares, with no evidence it affects other traditional assets.
6-17