Finance

Eli Lilly’s GLP-1 drug retatrutide posted late-stage results in The Lancet and the New England Journal of Medicine. The data showed people with Type 2 diabetes lost up to 60 pounds (about 23%), while obese patients without diabetes lost up to 70 pounds (about 25%). The trials also found up to 40% of patients reached an A1C below 5.7%, under the threshold used to diagnose diabetes and prediabetes.

Concentrix reported fiscal third-quarter 2026 results, with revenue of $2,453.7 million down (1.2)% year on year. The company posted a GAAP operating loss of $(910.3) million, while non-GAAP operating income rose 1.3% to $309.0 million. Non-GAAP diluted EPS increased 5.0% to $2.92. Operating cash flow was $268.2 million and adjusted free cash flow was $218.3 million, and the company said it increased its quarterly dividend.

Disney has launched another round of layoffs after CEO Josh D’Amaro took the job, cutting a few hundred roles following the elimination of around 1,000 positions in April. Chief legal and global affairs officer Horacio Gutierrez said the company is in a “transformation process” that will require “hard choices” as it redesigns its workforce around the adoption of artificial intelligence and other technologies. As of the end of fiscal 2025, Disney employed roughly 231,000 people worldwide.

OpenAI unveiled the GPT-6.1 Sol model, a $500 Pro plan and a faster Ultrafast tier at DevDay 2026. The company said its API maintained more than 99% reliability and cut time to first token by 45%. It also said its models have helped solve more than 100 maths problems that had been open for decades. OpenAI shelved the GPT-6.1 Astra update this week and did not provide an IPO timeline.

Maharashtra’s sugar commissioner has allowed sugar mills to start crushing sugarcane before Oct 15 in an effort to increase supply and curb elevated sugar prices. The state advanced the start of the crushing season to Oct 15 from Nov 1, the date allowed last year, following a meeting chaired by Chief Minister Devendra Fadnavis. Retail sugar prices have eased to Rs 50-55 per kg from recent highs but remain above pre-Aug levels. India’s central government had approved imports of 10 lakh tonnes of sugar, though only about 2.5 lakh tonnes is expected to arrive.

Anthropic said in its IPO prospectus that rogue AI agents could trigger legal claims from customers and users, even as the legal framework governing such cases remains unclear. The company warned that autonomous agents with deep access to customer systems could cause real-world harm through errors, misalignment or security exploits. It also noted that contractual limits on its liability may not prove enforceable or sufficient. Meta has previously agreed to pay $18 billion over a decade to settle similar claims brought by U.S. states.

OpenAI’s annual recurring revenue is nearing $70 billion, Axios reported, citing people familiar with the startup’s finances. Enterprise sales have more than doubled since July. The company’s annualized revenue run rate has risen more than 70% since the start of the third quarter. OpenAI has not provided an official comment on the figures.

The Iran war has sent diesel prices sharply higher, with UK supermarket chain Asda among the fastest to raise pump prices. Average diesel prices are up 41% from February, and the RAC has warned prices will breach £2 per litre within days. Brent crude has risen from $72.87 a barrel in February to $103.50 on Tuesday. The White House has proposed lending energy companies 40 million barrels of oil from its strategic reserves to help curb fuel costs.

Anthropic says in an IPO prospectus obtained by Reuters that its AI models could pose a “catastrophic or existential risk” and may be capable of “resisting shutdown.” The company is seeking to go public within the next year, with a valuation that could reach $2 trillion. The filing also says the company lost $42 billion in 2025 and plans up to $518 billion in cloud-computing and infrastructure obligations over the coming year. It adds that nearly a quarter of last year’s revenue came from two customers.

The South African rand was little changed on Tuesday, trading at 16.4050 per dollar. Investors weighed falling oil prices, a firmer gold price and local economic indicators. The South African Reserve Bank reported foreign direct investment inflows of 49.8 billion rand in the second quarter of 2026, while formal sector employment slipped 0.1% quarter on quarter to 10.425 million, according to the statistics agency.