India’s largest drugmaker, Sun Pharmaceutical Industries, has signed an agreement with the US government to make medicines more affordable for American patients. The Mumbai-based company will offer “Most Favoured Nation” pricing to US state Medicaid programmes, providing medicines at the lowest prices offered in other developed countries. The arrangement will also apply to Sun Pharma’s future innovative medicines in the US market. The agreement was part of a wider US government push to lower prescription drug prices. In return, the company has secured a delay of more than two years in proposed Section 232 tariffs on its innovative pharmaceutical products. (PC: HT)

PayPal has reportedly laid off around 600 employees in India, about 10% of its workforce, amid a global restructuring. According to reports, the cuts affected teams in Chennai, Bengaluru and Hyderabad across technology, engineering, operations, payments and finance. Some employees said they were informed during a group call on August 31 and immediately lost access to company systems. Reports said affected workers were offered job assistance and promised one month’s salary as severance. A separate report claimed up to 25% of PayPal’s Indian workforce, or about 1,500 employees, could eventually be affected. PayPal is reportedly planning 20% global job cuts.   (PC: India Today)

Streaming platform JioHotstar has expanded internationally by launching in the UK, Canada and Singapore, targeting the South Asian diaspora and wider audiences interested in Indian stories and culture. The platform offers more than 160,000 hours of content across 12-plus Asian languages, including films, television, originals, regional shows, reality programmes, kids’ content and anime. Subscribers can access quarterly and annual plans, while interactive features include live voting for different language editions of Bigg Boss. UK and Canadian viewers will receive 24x7 live feeds, with Canada getting Bigg Boss Hindi seven days before television broadcast. Existing Hotstar subscribers will transition to equivalent plans. JioHotstar says it has over 500 million active users and will add 30,000 fresh hours annually. (PC: CNBC TV18)

Amazon has been accused of overcharging more than one million advertisers by manipulating online ad auctions. The US Federal Trade Commission and 22 states filed a lawsuit against the company.   The lawsuit claims Amazon made around $20 billion from the alleged practice since 2019. It says advertisers were charged higher prices than expected for some ads.   The complaint also claims the extra costs may have been passed on to consumers. Amazon strongly denied the allegations and called the lawsuit misguided. The company said advertisers adjust their bids based on performance. Amazon shares fell 2.5% after the lawsuit was announced.  

The National Company Law Tribunal (NCLT) has paused its earlier order allowing Essel Group chairman Subhash Chandra to settle his insolvency case by paying around Rs 6.25 crore. The tribunal has also stopped Chandra from selling or transferring his properties.   The case will now be heard by a special five-member bench. The bench said there were differences in the earlier orders passed by three members, with no clear majority decision.   The earlier order had raised questions because claims of over Rs 22,000 crore were reportedly made against Chandra. The five-member bench will now review the matter and decide the next steps.  

Essel Group founder Subhash Chandra said borrowers linked to his personal guarantees have assured him they will settle outstanding claims of Rs 4,262 crore with lenders. According to a statement from his office, borrowers had received Rs 4,808 crore and repaid Rs 3,803 crore, leaving a payable balance of Rs 998 crore, while claims after settled accounts stood at Rs 4,262 crore. The largest outstanding amounts include Rs 1,322 crore with LIC Housing and Rs 775 crore with HDFC Bank. The statement said several liabilities were being settled or were backed by adequate assets. (PC: The Indian Express)

Infosys Public Services chief Lax Gopisetty remains unreachable after flash floods in Nepal, where he was visiting in a personal capacity. Infosys said its immediate priority is to locate Gopisetty, establish contact and ensure his safety. The company is coordinating with relevant agencies to gather information and remains in close communication with his family, providing necessary support. The Ministry of External Affairs said 320 Indians remain missing following the floods, while 400 people are stranded on the Chinese side. The situation has prompted continued efforts by authorities to locate missing Indians and assist those stranded. Gopisetty’s disappearance adds to concerns surrounding the impact of the deadly flash floods in the region. (PC: India Today)

American brands that once relied on China as a dependable growth engine are losing ground as economic weakness, cautious consumers and sophisticated domestic rivals reshape the market. Nike’s China business has shrunk about 30% since 2021, while Starbucks faces growing competition from lower-priced, digital-first chains such as Luckin and Cotti. General Motors has also struggled as Chinese electric-vehicle makers expand rapidly. Yet foreign brands can still succeed: Lululemon, Ralph Lauren and KFC continue growing by adapting to local preferences. Analysts say localisation, faster innovation, competitive pricing and strong local distribution are increasingly crucial. China remains a major consumer market, but global brand prestige alone can no longer guarantee success. (PC: The Economic Times)

India’s food regulator FSSAI has proposed front-of-pack warning labels for packaged foods and drinks following growing public anger over the absence of strict warnings for products high in sugar, fat or salt. The proposal marks a reversal of FSSAI’s earlier position and comes amid repeated calls from activists and the Supreme Court, which has highlighted concerns including obesity. In a filing before the Supreme Court on Friday, FSSAI proposed a red-coloured hexagonal warning symbol for products high in any two or more of three nutrients: saturated fat, sugar or salt. Food companies including Coca-Cola, Nestle and PepsiCo have opposed such labels, arguing they could be confusing, creating a setback for the industry. (PC: Times Now)  

Nestle has urged India to consult food manufacturers while developing front-of-pack warning labels for products high in sugar, salt and fat, arguing industry participation could help ensure the rules are scientifically sound. The comments come amid growing public anger after Reuters reported that Coca-Cola, Nestle and industry groups opposed India’s proposed warning-label measures, which the government later dropped. India’s Supreme Court has criticised delays and called for front-facing warning labels. Health activists oppose industry involvement, arguing it could weaken public-health policy. Nearly 80% of products in India’s more than $100 billion packaged food and beverage market could be considered high in fat, sugar and salt. Consumers have also criticised differences between products sold in India and European markets. (PC: fity.club)