IBM CEO Arvind Krishna disclosed eight days before the earnings call that results would fall short, sending the stock down more than 25% in the company’s worst one-day performance. IBM cut its full-year revenue growth outlook by more than $600 million. Krishna attributed part of the reduction to customers delaying IBM projects as the cost of storage, servers and other data-center infrastructure rose.

Mumbai’s retail sugar price jumped Rs 8 per kilogram this week, rising from Rs 50 around Aug 10 to a record Rs 58. Traders at the APMC said prices are expected to climb further to Rs 61. They attributed the increase to tighter domestic availability, stronger demand ahead of the festival season and diversion of supply for ethanol fuel blending.

Anthropic is forecasting 2028 revenue of about $190 billion to $200 billion, far above its current level, people familiar with the matter said. Its revenue run rate was about $9 billion at the end of 2025 and had risen above $47 billion by May 2026. The company projects at least $10.9 billion in revenue for the second quarter of 2026, more than double the prior quarter. It is also expected to post its first quarterly operating profit of $559 million.

Airbnb CEO Brian Chesky said aggressive integration of artificial intelligence has been a key driver of the company’s financial improvement. The company’s shares jumped 15% after it reported strong quarterly growth. Chesky said AI has shortened product development cycles by about 60% and helped teams ship 80% more features year over year.

India’s South Western Railway (SWR) loaded 4.69 million tonnes of freight in July 2026, up 11.7% year on year and a record for the month. Iron ore and steel loadings rose 22.4% and 20.6%, respectively, while total freight handled in the first four months of FY 2026-27 through July increased 5.7% to 17.1 million tonnes. SWR reported gross revenue of Rs 793.3 crore for July, up 5.2%, with freight and passenger earnings both growing by around 6%.

Amazon shares fell about 1% in after-hours trading on Aug. 3 after founder Jeff Bezos filed with the SEC outlining plans to sell 15 million shares worth about $4.07 billion under a 10b5-1 plan. The filing said his holdings would drop from 88.4 million shares to 86.9 million, representing 8.1% of the company’s outstanding shares. Bezos has sold about $13.4 billion of Amazon stock this year, including 25 million shares sold from late June to late July. The pre-arranged sale plan is compliant, but it has drawn investor attention to his longer-term ownership intentions and potential funding needs.

Hexaware reported fiscal 2024 Q2 revenue of $405.4 million, up 6.1% year on year, with EBIT margin rising to 13.6%. Net profit fell 21.1% from a year earlier to $34.9 million. The company said it booked an $8 million foreign-exchange hedge loss after a sharp appreciation of the Indian rupee against the U.S. dollar. The results highlight how INR/USD swings can affect earnings stability for export-oriented Indian IT services firms.

Global gold demand totaled 1,269 tonnes in the second quarter of 2026, broadly unchanged from the prior quarter, the World Gold Council (WGC) said. First-half demand rose 2% year-on-year to 2,522 tonnes, valued at around USD 380 billion. Central banks’ net purchases reached 289 tonnes, while first-half bar and coin investment increased 21% and jewellery demand by value climbed 22% to USD 86 billion, according to the report. Gold ETF holdings posted a modest first-half net inflow of 18 tonnes.

Iranian officials have acknowledged major failures in the “trustee company” network used to route oil revenues outside the formal banking system, including at least one intermediary who fled without returning $200 million. Authorities have opened 59 criminal cases and asked Interpol to issue Red Notices for 15 people tied to the scheme. The network has long moved crude-sale proceeds through accounts in countries including the UAE, Turkey and Oman, and its unraveling has highlighted vulnerabilities in Iran’s repatriation chain.