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American Bitcoin Corp., a cryptocurrency mining and treasury firm backed by Eric Trump and Donald Trump Jr., made a high-profile debut on the Nasdaq this week, with its stock surging up to 110% intraday before closing with a strong double-digit gain.

The company went public through a reverse merger with Gryphon Digital Mining, bypassing the traditional IPO route. It now trades under the ticker ABTC.

The listing gives Hut 8 Corp, a Canadian crypto infrastructure firm, 80% control of the combined entity. The Trump brothers collectively own about 20%, bringing their stake’s value to over $1.5 billion at peak trading levels.

“Our strategy offers a stable path to growth in a volatile market,” said Hut 8 CEO Asher Genoot, explaining the choice to merge rather than launch a standalone IPO.

Founded in 2023, American Bitcoin combines Bitcoin mining with a long-term BTC accumulation strategy. The company currently holds around 2,443 Bitcoins, valued at over $160 million.

The model echoes MicroStrategy’s high-profile crypto strategy, blending operational income with treasury growth.

Following its public debut, American Bitcoin plans to raise up to $2.1 billion through an at-the-market (ATM) equity offering. The funds will support mining expansion, Bitcoin purchases, and potential acquisitions in Japan and Hong Kong.

These international moves aim to offer investors in Asia regulated exposure to Bitcoin via local markets.

The Trump family’s growing role in crypto has drawn both investor enthusiasm and regulatory scrutiny. While former President Donald Trump has been skeptical of digital currencies, his sons are betting big on Bitcoin’s future.

Critics have raised concerns about potential conflicts of interest, but the market reaction suggests strong demand for politically connected crypto ventures.

ABTC closed at $8.04 on its first trading day, up roughly 16%, cementing its status as one of the most watched crypto listings of the year.

Urban Company, India’s leading home services marketplace, is gearing up to raise ₹1,900 crore through its Initial Public Offering (IPO), a key milestone as it prepares to go public. The offering includes a fresh issue of ₹472 crore and an offer for sale (OFS) of ₹1,428 crore by existing investors such as Accel, Bessemer, and Elevation Capital.

The company has set the IPO price band between ₹98 and ₹103 per share. The public subscription will open on September 10 and close on September 12, 2025, with anchor investors able to bid a day earlier. Retail investors can apply for a minimum of 145 shares, while eligible employees receive a ₹9 per share discount.

Funds raised from the fresh issue will primarily support technology and infrastructure upgrades, with ₹190 crore allocated for technology and cloud development. Additionally, ₹75 crore will go toward leased office spaces and ₹90 crore for marketing and customer acquisition. The rest will be used for general corporate expenses.

Urban Company has shown strong financial progress, with revenue increasing 38% to ₹1,144.5 crore in FY25, up from ₹828 crore the previous year. The company posted a pre-tax profit of ₹28.8 crore, a sharp turnaround from a ₹92.7 crore loss in FY24. Including a ₹211 crore deferred tax credit, net profit stood at ₹240 crore.

Its revenue mix highlights ₹881 crore from India, ₹147 crore from international markets across the UAE and Singapore, and ₹116 crore from product sales under its “Native” brand, which includes smart locks and water purifiers.

Operating in 51 cities, Urban Company serves 6.8 million transacting users and engages around 48,000 service professionals monthly. Leveraging AI-driven technology, it boasts strong customer loyalty with 82% of transaction value from repeat users and maintains an average customer rating of 4.81 out of 5.

The company also empowers its gig workforce, with full-time professionals earning an average of ₹49,066 per month, often exceeding entry-level IT salaries, positioning skilled gig work as a respected career path.

Meta Platforms and Reliance Industries Limited (RIL) have announced a strategic joint venture to develop open-source artificial intelligence (AI) solutions designed specifically for Indian enterprises. The partnership aims to bring advanced AI tools to businesses across the country, enhancing productivity and innovation in sectors ranging from IT to finance and customer service.

Unveiled during Reliance’s 48th Annual General Meeting, the collaboration will leverage Meta’s LLaMA (Large Language Model Meta AI) technology combined with Reliance’s extensive digital infrastructure, including Jio’s connectivity and data centers, to deliver scalable and affordable AI applications.

The venture is backed by an initial investment of $100 million (approximately ₹855 crore), with Reliance holding a 70% stake and Meta 30%. The deal is expected to be finalized by the fourth quarter of 2025, pending regulatory approvals.

Mukesh Ambani, Chairman and Managing Director of Reliance, highlighted the goal to make AI accessible to businesses of all sizes, from startups in remote regions to large corporations in urban centers. Meta CEO Mark Zuckerberg emphasized the synergy between Meta’s AI capabilities and Reliance’s digital ecosystem as a foundation for building next-generation AI tools tailored for the Indian market.

This initiative marks a significant milestone in integrating AI into India’s business landscape, aiming to boost innovation and competitiveness across industries.

 US-headquartered trading firm Jane Street has filed a petition with the Securities Appellate Tribunal (SAT) against India’s market regulator, the Securities and Exchange Board of India (SEBI), following a trading ban and allegations of index manipulation involving the Bank Nifty.

The petition, filed on September 3, challenges SEBI’s interim order from July that barred Jane Street from participating in Indian markets and froze approximately ₹4,843 crore in alleged unlawful gains. Jane Street has requested the tribunal to direct SEBI to disclose all relevant investigative materials and to stay further proceedings until such disclosure is made.

According to SEBI’s order, Jane Street allegedly manipulated the Bank Nifty index by placing large buy orders in the cash and futures markets during early trading hours, artificially inflating the index, and subsequently profiting from short positions in derivatives. The regulator termed the strategy “distortionary” and said it misled other market participants.

Jane Street, however, has denied any wrongdoing and described its trading activity as legitimate index arbitrage, a strategy commonly employed by market makers. The firm argued that it acted in accordance with standard market practices and did not engage in any form of manipulation.

In its filing, Jane Street contends that earlier assessments conducted by SEBI’s own Integrated Surveillance Department and the National Stock Exchange (NSE) in 2024 had cleared the firm in the majority of trading sessions under review. The company claims that these findings were not referenced in SEBI’s recent order, raising questions about procedural fairness.

The firm is now seeking access to SEBI’s internal surveillance reports, communications with the NSE, raw trade data, and copies of complaints or other materials used to support the allegations.

Jane Street has argued that the absence of access to these documents has hindered its ability to present a proper defence and violates principles of natural justice. If SEBI’s allegations are upheld, Jane Street could face penalties up to three times the amount of the alleged illegal gains, potentially totaling nearly ₹15,000 crore (US $1.7 billion). The case has attracted significant attention from global market participants and legal experts, who view it as a test of India’s regulatory transparency and its treatment of foreign institutional participants.

The SAT is scheduled to hear the case on September 8, 2025.

Kraft Heinz Company (NASDAQ: KHC) today announced plans to separate into two distinct, publicly traded companies through a tax-free spin-off expected to be completed by the second half of 2026. This strategic move is designed to create more focused businesses, accelerate growth, and unlock shareholder value.

The split marks a significant shift for Kraft Heinz, formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. Since the merger, the combined company has faced challenges, including shifting consumer preferences, increased competition, and multiple brand impairments totaling billions in write-downs.

The planned separation will create two public companies.

Global Taste Elevation Co.: This company will manage Kraft Heinz’s international and premium portfolio, including flagship brands like Heinz ketchup, Philadelphia cream cheese, and Kraft Mac & Cheese. It generated approximately $15.4 billion in revenue in 2024. The business will focus on expanding its global presence and growing high-margin categories such as sauces and shelf-stable meals.

North America Grocery Co.: This will be centered on regional grocery staples such as Oscar Mayer, Lunchables, Velveeta, and Kraft Singles. This unit reported $10.4 billion in 2024 sales. Current Kraft Heinz CEO Carlos Abrams-Rivera will lead this company, which will focus on the North American market.

Executive Chair Miguel Patricio emphasized the separation aims to simplify operations and sharpen strategic focus, stating, “By creating two independent companies, we can better allocate capital and resources to meet the unique needs of each business.”

Following the announcement, Kraft Heinz shares dropped between 5% and 7%, reflecting investor caution. Warren Buffett’s Berkshire Hathaway, holding about 27.5% of Kraft Heinz, reportedly expressed disappointment, suggesting the split may not fully address the company’s underlying challenges.

The spin-off is expected to be tax-free to shareholders and incur one-time separation costs of up to $300 million. Both companies plan to maintain investment-grade credit ratings and operate independently with separate leadership teams. The appointment of a CEO for Global Taste Elevation Co. will be announced ahead of the split.

This split aligns Kraft Heinz with recent industry trends where large food conglomerates are breaking into focused entities to improve agility and growth potential.

Several major Indian companies, including Patanjali Foods and Prestige Estates Projects, began trading ex-dividend today, September 3, marking a critical date for investors tracking dividend payouts. The move follows the record date cut-off of September 2, which was the last day to purchase shares to be eligible for upcoming dividend distributions.

According to reports, a total of 13 dividend-paying companies were on investor watchlists ahead of the ex-dividend date. Of these, five key stocks,  Patanjali Foods, Prestige Estates Projects, Pokarna Ltd., Asahi India Glass Ltd., and VST Tillers Tractors Ltd.,  officially went ex-dividend today.

Key dividend announcements include Patanjali Foods Ltd, which declared a final dividend of ₹2 per equity share (100% of face value) for FY 2024–25, with a record date of September 3. Prestige Estates Projects Ltd. recommended a final dividend of ₹1.80 per share (face value ₹10), pending approval at its upcoming AGM. Pokarna Ltd. proposed a 30% final dividend, translating to ₹0.60 per share, subject to shareholder approval. Similarly, Asahi India Glass Ltd.recommended a ₹2 per share dividend, also awaiting confirmation. VST Tillers Tractors Ltd. stood out by declaring a significantly higher final dividend of ₹20 per share, expected to be paid on or after September 10, 2025, if approved.

With these companies now trading ex-dividend, investors entering positions from September 3 onward will not be eligible for the declared payouts. The adjustments reflect India’s T+1 settlement system, where trades must be completed a day before the record date to qualify for dividends.

Analysts suggest that dividend declarations can influence short-term price movements, and investors should assess payout yields in conjunction with company fundamentals. As the dividend season continues, market participants will be closely watching upcoming corporate actions and annual general meetings for further developments.

The GST Council, in its 56th meeting held today under the chairmanship of Finance Minister Nirmala Sitharaman, unveiled a bold proposal to restructure India’s Goods and Services Tax system. Aimed at simplifying compliance and boosting consumption, the plan recommends moving from the current four-tier rate system to a dual-rate structure of 5% and 18%, while introducing a separate 40% rate for luxury and sin goods.

The existing slabs of 5%, 12%, 18%, and 28% would be rationalized, with many commonly used goods and services shifting to lower tax rates. Daily-use items such as packaged food, namkeen, school supplies, medicines, and household essentials are expected to be moved to the 5% category. Consumer durables, currently taxed at 28%, may be brought under the 18% slab—potentially lowering prices ahead of the festive season.

To compensate for revenue loss, the Council is exploring a steep 40% GST on high-end and non-essential goods. This could apply to luxury cars, tobacco products, premium apparel priced above ₹2,500, and business-class air travel.

However, the proposal has raised concerns among several states, particularly opposition-ruled ones like Tamil Nadu, Kerala, Punjab, and West Bengal. These states warn that the new structure could lead to annual revenue losses between ₹85,000 crore and ₹2 lakh crore, and have demanded a clear compensation framework to safeguard state finances.

Despite resistance, economists believe the reforms could drive long-term gains. An SBI report suggests states may still see overall fiscal benefits by FY26 through higher compliance and a wider tax base. Bank of Baroda estimates the changes could add up to ₹1 lakh crore to consumer spending in the second half of the fiscal year.

If consensus is reached, the revised GST structure could come into effect as early as midnight on September 5. The outcome of the ongoing deliberations could mark a defining moment for India’s indirect tax regime.